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When it comes to growing revenues, the data all points toward cultivating active client relationships:
It’s 68% more expensive to earn $1 from a new customer than from an existing customer (forEntrepreneurs) 70-95% of sales comes from upsold or cross-sold revenue (forEntrepreneurs) The probability of selling to an existing customer is 200-1,400% higher than selling to a new prospect (Groove)
The data speaks for itself, but how can firms identify those cross-selling and upselling opportunities that should be low hanging fruit? Which clients have the greatest potential to expand their serviceable needs and how can sales and business development accelerate…
Data.com, Salesforce’s first complete data enrichment solution within the platform, is headed for retirement.
By now, you’ve likely heard the news. Data.com will be officially retired on July 31, 2020. According to Salesforce, the decision to end service was made based on overwhelming feedback from users who were not happy with the quality of data provided by Data.com. But what about current customers of Data.com?
Salesforce customers will still need solutions to help keep data clean, accurate, and up to date. In order to keep up with their data cleanse efforts, Data.com customers will be able to select from other…
Contact data decays at a rate of 30% each year, even by the most conservative estimates. For high-turnover industries, this number can be as high 70%. Put into perspective, if you have 100,000 contacts in your CRM, between 30,000 and 70,000 of those CRM records will have suffered some level of decay by the end of the year. The reality is that even initially good data can become bad data without proactive maintenance.
This point was underscored by Jon Metcalf, Director of Marketing Technology for Fenwick & West, who said: “The biggest hurdle to developing a useful, valuable CRM program…
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Today’s sales and business development teams sport some scary stats:
- 67% of sales pros don’t hit their individual quotas
- More than half of all salespeople close at less than 40%
- Only 50% of salespeople feel like they can access key players
What’s a revenue producer to do when faced with stats like these? Let’s use sales intelligence so we can laugh our way past quota (and keep laughing all the way to the bank).