It is 6 to 7 times harder to convert a new customer than to sell to an existing one. This is exactly why Key Account Management is one of the most important aspects of the sales process and an integral facet of every single business.
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Thomas Edison was an American inventor and businessman who has been described as America’s greatest inventor. Although he patented nearly 1,100 ideas, many people remember him for the invention of the long-lasting and practical electric light bulb. So many experiments went into developing the first the carbon and then platinum and finally back to carbon filaments that many wondered if he would ever succeed.
Many salespeople tell us that the way they differentiate themselves from their competition is by adding value to their products, in order for the customer to see why they are charging the price they are.