Developing New Business with Existing Clients
The best way to expand your business is to start with your existing relationships. In this chapter, we offer ways for you to nurture those relationships to make new business a natural progression of the relationship. We explore how you can sell upstream, effectively cross-sell, and request referrals.
From a purely business perspective, the most effective and efficient way to develop new business is to focus on existing relationships. This is not only commonsense, but one of the more widely proven facts in business.1 Your current clients have a track record with you and can vouch for you. If you have been applying trust principles to your dealings with them, they have personally experienced you as a trustworthy professional.
There are three ways to develop new business by expanding existing relationships:
1. Move upstream in the organization.
2. Cross-sell within the organization.
3. Seek referrals outside the organization.
Each case presents opportunities to distinguish yourself by leading with trust.
First, Deepen the Relationship
Whether you wish to move up, across, or outside the organization, you will get there more easily if your existing clients are inclined to help you. And here’s a principle we have found to be true: Existing clients are inclined to help you in direct proportion to how helpful you have been to them. If you have treated them with their interests at heart, worked with them collaboratively, focused ...