We’ve all heard of the 80/20 rule, where 80% of your revenue is generated by 20% of your customers. Despite changes in the sales process and the lengthening of the sales cycle due to the digital age, the 80/20 principle has prevailed in most sales environments. More often than not, people are looking for a product or service that they can rely on for the long-term instead of learning a new tool or adjusting to a new account manager every couple years. Are you setting the stage for loyal customers or simple sales?
A large part of building customer loyalty is making them feel comfortable and educated during the sales stage. Even though most B2B customers only contact sales after 70% of a purchase decision has been made, the most defining moments of that sales cycle is when they sit down with their dedicated sales rep. Sure, there are going to be times when you will be tempted to rush the sale because you want the commission. But, what if you could create a brand advocate for life? How much recurring revenue would that be for you and your company?
