{"id":4484,"date":"2017-10-11T23:25:50","date_gmt":"2017-10-11T23:25:50","guid":{"rendered":"http:\/\/somametrics.com\/clone\/?p=4484"},"modified":"2021-10-20T18:00:32","modified_gmt":"2021-10-20T18:00:32","slug":"new-products-existing-customers","status":"publish","type":"post","link":"http:\/\/somametrics.com\/clone\/new-products-existing-customers\/","title":{"rendered":"Selling New Products to Existing Customers (Quadrant 3)"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"4484\" class=\"elementor elementor-4484\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-592261a9 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"592261a9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-element elementor-element-b597714 elementor-column elementor-col-100 elementor-top-column\" data-id=\"b597714\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-15021f75 elementor-widget elementor-widget-text-editor\" data-id=\"15021f75\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\"><div class=\" et_pb_row_inner et_pb_row_inner_0\"><div class=\"et_pb_column et_pb_column_4_4 et_pb_column_inner et_pb_column_inner_0\"><div class=\"et_pb_text et_pb_module et_pb_bg_layout_light et_pb_text_align_left et_pb_text_0\"><h3><em>&#8220;How to Sell New Products to Existing Customers&#8221; is part of our &#8220;Four Quadrants for High Growth Quick Start Guide&#8221;.\u00a0 To access the full series <a href=\"http:\/\/somametrics.com\/clone\/four-quadrants\/\">click here<\/a><\/em><\/h3><div class=\"et_pb_section et_pb_inner_shadow et_pb_fullwidth_section et_pb_section_0 et_pb_with_background et_section_regular\">\u00a0<\/div><div class=\"et_pb_section et_pb_section_1 et_section_specialty\"><div class=\"et_pb_row et_pb_row_3-4_1-4\"><div class=\"et_pb_column et_pb_column_3_4 et_pb_column_0 et_pb_specialty_column\"><div class=\" et_pb_row_inner et_pb_row_inner_0\"><div class=\"et_pb_column et_pb_column_4_4 et_pb_column_inner et_pb_column_inner_0\"><div class=\"et_pb_text et_pb_module et_pb_bg_layout_light et_pb_text_align_left et_pb_text_0\"><h2>Quadrant 3: Introduce new products<\/h2><p><strong>Overall Goal: Increase the number of products that each customer uses by 15-20% each year.<\/strong><\/p><figure id=\"attachment_9628\" aria-describedby=\"caption-attachment-9628\" style=\"width: 1014px\" class=\"wp-caption aligncenter\"><img class=\"wp-image-9628 size-large\" src=\"http:\/\/somametrics.com\/clone\/wp-content\/uploads\/2020\/06\/SOMAmetrics-Quadrant-3-1024x296.png\" alt=\"SOMAmetrics Quadrant 3\" width=\"1024\" height=\"296\" srcset=\"http:\/\/somametrics.com\/clone\/wp-content\/uploads\/2020\/06\/SOMAmetrics-Quadrant-3-1024x296.png 1024w, http:\/\/somametrics.com\/clone\/wp-content\/uploads\/2020\/06\/SOMAmetrics-Quadrant-3-300x87.png 300w, http:\/\/somametrics.com\/clone\/wp-content\/uploads\/2020\/06\/SOMAmetrics-Quadrant-3-768x222.png 768w, http:\/\/somametrics.com\/clone\/wp-content\/uploads\/2020\/06\/SOMAmetrics-Quadrant-3-1536x444.png 1536w, http:\/\/somametrics.com\/clone\/wp-content\/uploads\/2020\/06\/SOMAmetrics-Quadrant-3-2048x592.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-9628\" class=\"wp-caption-text\">Four Quadrants- Quadrant 3<\/figcaption><\/figure><\/div><div class=\"et_pb_text et_pb_module et_pb_bg_layout_light et_pb_text_align_left et_pb_text_0\"><p><span style=\"font-weight: 400;\">Quadrant 3 is all about selling products and services you offer that your customers have not yet purchased. The most important of these are Upgrades, Add-ons, and Bundles or Packages. Quadrant 3 offers some highly attractive growth opportunities for a company that is set up to take advantage of it.<\/span><\/p><p><span style=\"font-weight: 400;\">Below you will find a Best Practices checklist for optimizing high growth within Quadrant 3 for Marketing, Sales, Customer Service, and Innovation.<\/span><\/p><\/div><\/div><\/div><div class=\" et_pb_row_inner et_pb_row_inner_1\"><div class=\"et_pb_column et_pb_column_3_8 et_pb_column_inner et_pb_column_inner_1\"><div class=\"et_pb_text et_pb_module et_pb_bg_layout_light et_pb_text_align_left et_pb_text_1\"><h3>\u00a0<\/h3><h3><b>Marketing Checklist<\/b><\/h3><h6><b>GOAL<\/b><\/h6><p><span style=\"font-weight: 400;\">Continually market to current customers by demonstrating how the value of their existing products increases significantly when used with another product that you sell, but that they don\u2019t currently use.<\/span><\/p><h6><b>KEY OPTIMIZATION ACTION ITEMS<\/b><\/h6><ul><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Have an accurate database of which customer has which products installed.<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Build an automated marketing strategy? system? that works on the logic: \u201cIf a customer has product A, then use Campaign X. If a customer has products A and B, then use campaign Y\u201d, and so on.<\/span><\/li><\/ul><\/div><\/div><div class=\"et_pb_column et_pb_column_3_8 et_pb_column_inner et_pb_column_inner_2\"><div class=\"et_pb_text et_pb_module et_pb_bg_layout_light et_pb_text_align_left et_pb_text_2\"><h3>\u00a0<\/h3><h3><b>Sales Checklist<\/b><\/h3><h6><b>GOAL<\/b><\/h6><p><span style=\"font-weight: 400;\">Build an effective account management team that excels at selling new products to existing customers with the goal of increasing revenue per customer.<\/span><\/p><h6><b>KEY OPTIMIZATION ACTION ITEMS<\/b><\/h6><ul><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Set up an account management system that uses the marketing database to call on customers to cross-sell and upgrade them to higher tier products.<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Build your compensation plan to reward such account penetration.<\/span><\/li><\/ul><\/div><\/div><\/div><div class=\" et_pb_row_inner et_pb_row_inner_2\"><div class=\"et_pb_column et_pb_column_3_8 et_pb_column_inner et_pb_column_inner_3\"><div class=\"et_pb_text et_pb_module et_pb_bg_layout_light et_pb_text_align_left et_pb_text_3\"><h3>\u00a0<\/h3><h3><b>Customer Support Checklist<\/b><\/h3><h6><b>GOAL<\/b><\/h6><p><span style=\"font-weight: 400;\">Make customers highly successful at using your new products within 30 days of acquiring them.<\/span><\/p><h6><b>KEY OPTIMIZATION ACTION ITEMS<\/b><\/h6><ul><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Build a library of training material and resources to enable customers to teach themselves to use new products.<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Build scalable support infrastructure such as chat and self-help portals to provide quality customer support with less impact on the Support organization.<\/span><\/li><\/ul><\/div><\/div><div class=\"et_pb_column et_pb_column_3_8 et_pb_column_inner et_pb_column_inner_4\"><div class=\"et_pb_text et_pb_module et_pb_bg_layout_light et_pb_text_align_left et_pb_text_4\"><h3>\u00a0<\/h3><h3><b>Innovation Checklist<\/b><\/h3><h6><b>GOAL<\/b><\/h6><p><span style=\"font-weight: 400;\">Introduce new products and services on a regular schedule\u2014at least every 2-3 years.<\/span><\/p><h6><b>KEY OPTIMIZATION ACTION ITEMS<\/b><\/h6><ul><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Set up a Product strategy team that continually reviews the product pipeline and prioritizes new projects.<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Set up agile development practices to enable rapid and iterative releases of products to enable quick changes based on shifts in customer priorities and preferences.<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Set up Product Management to translate big initiatives that come from Product Strategy into clearly defined tasks that are implemented through the agile development process.<\/span><\/li><\/ul><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>&#8220;How to Sell New Products to Existing Customers&#8221; is part of our &#8220;Four Quadrants for High Growth Quick Start Guide&#8221;.\u00a0 To access the full series click here Quadrant 3: Introduce new products Overall Goal: Increase the number of new products that each customer uses by 15-20% each year. 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