Success Story:
Farming and TLC Pays Off
Problem:
A software vendor knew that its impressive list of marquee accounts weren’t being leveraged as well as they could be for additional business.
Action:
In addition to his normal duties, Andrew was asked to design a program to appropriately farm these accounts for incremental revenue. The company was looking for an additional $500,000 in volume over each of the next two years.
Using his position as a trusted advisor to the clients, Andrew was able to institute a recurring quarterly or bi-quarterly account review with each of the targeted companies. The process provided a natural situation where relationships could be built and each client’s specific needs could be completely understood and digested. Using this information as a basis, Andy presented additional products and services in a manner that directly benefited each client’s unique situation.
Result:
The program was a resounding success. In the first year alone, over $3 million of repeat business was generated through the Strategic Account Initiative and Andrew was able to provide over 600% of the first year quota. In addition, millions of dollars more in sales were closed in each of the following years.
