How many uncapitalized growth opportunities exist within existing accounts?
A Gartner study on Account Growth showed that 85% of B2B marketers who responded say there are uncapitalized growth opportunities within existing accounts.
Another analysis of 1,100 B2B customers with a focus on what drives continuing or expanding customer relationships with an existing supplier. The result was remarkable but not surprising. The strongest driver of account growth is the confidence customers have in themselves and their ability to make good buying decisions.
Remember you don't own the customers, the customers find it difficult to tell the difference between you and the competitors, actually, it turns out that of the unique benefits a Supplier offers, Customers see only 14% as truly unique (Gartner). This means that the door is almost always open to competitors, in fact, 57% have switched suppliers because a competitor offered a better experience (Salesforce State of the Connected Customer). The objective for sales reps. is to bring strong data and insights, and help customers take that next action for their business in a confident manner. That’s what drives incremental purchases.
One of the most effective ways salespeople can create a strong experience, differentiate and at the same time shorten sales cycles is to link their solution to an issue that is so critical to an organization, the prospect can’t go another day without fixing it. This is what you achieve with GAP Assessments. In almost all cases GAP Assessments can identify big and critical GAPS, that need to be taken seriously.