Two main strategies shape modern B2B sales when it comes to increasing revenue: acquiring new customers and expanding existing customers. While many companies focus on acquiring new customers, there are convincing arguments that expanding existing customer relationships is the better and more cost-effective strategy in the long term. In this article, we'll show you why expanding your existing customer base is the optimal way to increase sales in the B2B sector and how you can do it all effectively.

Expanding existing customers: Why it's worth it

1. Lower costs: Studies repeatedly show that acquiring new customers is significantly more expensive than expanding existing customer relationships. According to one Investigation of Harvard Business Review The costs of acquiring new customers are five to 25 times higher than the costs of retaining and expanding existing customers. If you develop your existing customers, you save significant marketing and sales costs, which you can invest elsewhere.
2. Higher sales potential: One Study by Bain & Company shows that an increase in customer retention rate of just 5% can lead to an increase in turnover of 25% to 95%. Existing customers are often willing to buy more and return more often if they have had a positive experience with your company. Through targeted upselling and cross-selling strategies, you can optimally exploit the sales potential of your existing customers.

Successful strategies for expanding existing customers

1. Personalized communication: Personalized communication is one of the keys to successful expansion of existing customers. Use the data you've collected about your customers to create tailored offers and recommendations. This strengthens customer loyalty and increases the likelihood of repeat purchases.
2. Increase customer satisfaction and loyalty: Satisfied customers are the best ambassadors for your company. Invest in excellent customer service and proactively address the needs of your customers. Regular feedback loops and customer satisfaction surveys help you identify potential for improvement and strengthen customer loyalty.
3. Exclusive offers for existing customers: Reward your loyal customers with exclusive offers and discounts. This can take the form of loyalty programs or special promotions that are only available to existing customers. Such measures promote loyalty and motivate further purchases.

How Acto helps with expanding existing customers

acto helps you utilize the full potential of your existing customers by providing accurate and actionable insights. Our decision intelligence platform connects all relevant data sources and uses advanced AI to provide your sales teams with the most important recommendations every day. This allows you to take targeted upselling and cross-selling measures, strengthen customer loyalty and sustainably increase sales.

Learn more about how acto can help you successfully grow your existing customers in our webinar:

Conclusion: Expand existing customers and increase sales in B2B

Expanding existing customer relationships offers significant advantages over acquiring new customers in the B2B sector. Lower costs, higher sales potential and the ability to strengthen customer loyalty through personalized approaches make expanding existing customers a better strategy.

By focusing on your existing customers, you can not only increase your turnover, but also build long-term and stable business relationships. Use the findings from these studies and rely on proven strategies to exploit the full potential of your existing customers. In this way, you ensure sustainable success and increase your turnover in the B2B sector effectively and efficiently.

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