Not Every Customer Buys Everything They Could From You
Most B2B companies know, or at least suspect, that many of their customers are “cherry pickers.” While these customers may have needs that span many other product categories, they’re often giving that business to other suppliers. This dynamic can occur for a number of reasons. Maybe the purchaser of these other categories is simply unaware of your offerings. Or maybe they are aware, but you haven’t yet given them a compelling reason to switch.
Cross-sell Opportunities Are Valuable
Whatever the reasons behind the customer behaviors, you know how beneficial it can be to win more business from existing customers. This business could represent millions of additional dollars over the buying lifetime of the customer. Incremental business is often very profitable because you’re leveraging sunk customer acquisition costs and service investments. Each additional category represents another customer retention hook that solidifies your relationship and increases your status as a strategic supplier.
Intuition and Directives Are Not Enough
As important as capturing cross-sell opportunities are, too many B2B companies are leaving it to chance. They rely on the intuition of individual salespeople to know where the incremental opportunities can be found. They lean on the intuition and guesswork of individual product managers to know which customers can buy which product categories and in what volumes. And, they count on management directives to sell the whole portfolio and go after the whitespace to ensure that it’s really getting done.
It’s Very Difficult to See What Isn’t There
By definition, whitespace and cross-sell opportunities are sales you are not currently getting. And it’s very difficult, if not impossible, for people to see what isn’t there. How can a salesperson intuitively know which customers should be buying other product categories? How can a product manager intuitively know how much a customer is really buying of anything? And how can these individuals intuitively know this critical information for each and every customer and product category in your business? Simply put, they can’t.
SalesMax Replaces Guesswork With Science
Leveraging Zilliant’s proprietary Purchase Pattern Profiling, SalesMax effectively sees what isn’t yet there, and accurately identifies cross-sell opportunities to help you expand wallet share. Automatically analyzing every customer and product line, SalesMax alerts your salespeople to hundreds of customer- and category-specific opportunities to sell a broader range of products, increase customer lifetime value and enhance customer retention.