When there’s a disruption in the technology market like the development of cloud solutions, it’s natural for an arms race to start. Technology companies quickly obtain the means to offer cloud software, then scramble to gather new customers. It’s an opportunity for growth and to shut out competitors, but it turns out that it may not be the best strategy for long-term success.
In fact, consistently focusing on chasing new business may ensure that your existing customers struggle to get adequate support and may look for reasons to switch providers. It’s important to consider the cost of obtaining new business versus that of expanding available offerings to existing customers. Consider these steps to deepen your relationships with current clients and offer them a better experience while fostering growth for your organization:
Get familiar with the new buyer’s path to a decision. While the advent of cloud technology has provided you and your competitors with new opportunities, it has also changed the way clients make IT decisions. Take time to map out the different paths your customers may take in their decision-making process, including the challenges and reservations they need to overcome. Understanding how they arrive at choosing you for a vendor will also help you develop a broader offering for their future cloud adoption.
Identify opportunities. Recognizing that it’s much easier to convince an existing cloud client to expand their cloud usage than it is to convince an enterprise to step into the cloud is a good business strategy. Once you have established a relationship with a customer and walked them through a successful cloud implementation, it will be easier to talk about additional opportunities for streamlining and cost savings through the cloud.
Whether it’s integrating with another cloud application or taking on an area like infrastructure or data storage, there are additional cloud services you can offer to existing customers. It is much easier to identify and execute opportunities with an existing customer than to develop a relationship with a new one and introduce the concept of cloud data storage, for instance.
Nurturing your customers leads to growth for you. Focus on developing long-term, trusted relationships with your customers. Not only will it lead to opportunities to expand with them, but they’ll be more likely to recommend you to other companies if they’ve had a positive relationship with you. Part of this process is making sure your sales and support teams are integrated for a smooth transition so that clients experience the same level of attention they noticed while you were hoping for a decision in your favor.
At Cloud Source we are focused on helping clients take full advantage of the possibilities available through the cloud. We listen to gain insight into your business and implement specific solutions for your individual needs. Contact us today to learn more.