Directly running after sales and prospects is one of many ways to drive sales and grow the business. Another strategy your company employs is likely to be through the concepts of account protection and account expansion.
These concepts can benefit all businesses, but only some of them categorize them appropriately and make a conscious effort to apply them in real life. Therefore, these concepts are addressed in three primary areas.
PROTECT YOURSELF
First, you must be well if your company wants to do well. Being well is not limited to having a healthy mind and body, which you need to have, but also protecting yourself legally. For example, you need to follow your ethical code and your company’s ethical code and not try to get ahead of your competition in devious ways, such as defaming them in ways that are not acceptable.
Being competitive is one thing, while throwing dirt is another.
PROTECT THE BUSINESS
To make things as simple as possible, protecting your company presupposes that you understand some legal issues and regulations that apply to you and your business. For example, you need to know how to complete a transaction with a buyer and what needs to be done legally.
Another way to protect your company is to avoid buyers that will turn into bad business. Of course, you don’t always know that in advance, but sometimes things scream that out.
PROTECT YOUR ACCOUNTS
Protecting your accounts is another way of saying that you must protect the relationships you have built with your existing clients. You need to be there for them, support them when they need you, and generally stand by their side to retain as more of them as you can.
You don’t want to lose your buyers to your competition.
EXPAND YOURSELF
Expanding yourself is beneficial for both you and your company. From earning a higher paycheck to attracting high-status buyers, lifelong learning is the only way to maximize your potential for better results.
EXPAND YOUR COMPANY
No matter what your position is, expanding your company is every member’s responsibility. Details point in business, so each minor improvement or suggestion you can offer carries a lot of potentials and might lead to a better customer experience or improvement of internal processes.
EXPAND YOUR ACCOUNTS
Last but not least, expanding your accounts can lead to greater long-term profits. Developing your accounts requires that you have protected your accounts in the first place.
Expanding your accounts can take several routes, such as offering related products or accessories - for example, adapters, batteries, etc. – and offering more significant quantities at slightly increased prices.
Respecting protection and expansion, as they are directed towards the areas mentioned above, is a steady and safe way to achieve better results for yourself and your business.
Some businesses need to realize these concepts' importance, constantly dragging their sales force into an unfruitful aggressive hunt for prospects and failing to control what they can handle.