More Revenue With Less Prospecting (Expanding Accounts)

Tim Riesterer is the CSO at Corporate Visions who helps companies develop, deploy and deliver customer conversations that win. In this episode of the Sales Leadership Show, Tim talks about how sales leaders can drive more revenue by expanding accounts. He also explains why AI will soon be dominating sales but struggle to compete against top salespeople who understand human behavior. Resources: Tim on LinkedIn CorporateVisions.com Book: The Expansion Sale: Four Must-Win Conversations to Keep and Grow Your Customers B2BDecisionLabs.com Transcript Will Barron: This episode of the show is brought to you from the salesman.org HubSpot Studio. Coming up on today’s episode of the sales leadership show.   Tim Riesterer: I mean new logos are never not going to be part of the portfolio but I think pretty much everyone could agree that it sort of maxes out at 20% of your number in any given year. The product’s not the hero anymore. It’s the services you wrap around it, the personnel that you bring to bear. So whether you’re doing building automation, HVAC and that kind of service, that’s now a managed service. Well the first thing we have to recognise it just isn’t all contained in sales. Every one of these I’ll just, an overused term is to call it a play.   Will Barron: Hello salesnation. My name is Will Barron and I’m the host of the Sales Leadership Show. And on today’s episode we have the return of Tim Riesterer. He is the Chief Strategy Officer over at Corporate Visions. He is the author of the book, The Expansion Sale. And that’s exactly what we’re getting into on today’s episode of the show, how to from a perspective of being data-backed of all Tim’s comments and thoughts in this episode, how to expand your current customers from a leadership level and drive tonnes, tonnes, more revenue post-pandemic. Everything that we talk about is available in the show notes for this episode over at salesleadership.org. And with that said, let’s jump right into it. Tim, welcome to the Sales Leadership Show.   Tim Riesterer: Hey Will. Good to be here with you.   Should Sales Leaders Focus on Bringing in New Business or Would it Be More Pragmatic to Focus on Expanding The Accounts They Already Have Post-Pandemic? · [01:32]    Will Barron: It’s good to have you onset. So on this episode we’re going to cover the post-pandemic expansion sale. We’re going to be referencing the book I’m sure the whole way through the expansion sale. And I’m going to ask you it is probably bad interviewing right, is probably bad sales conversations to ask you a massively leading and loaded conversation to get us going but I’ll frame things up. So sales leaders, sales managers, listening to this right now Tim, should we be focusing on new business, new logos or would it be a wise thing right now post-pandemic to be focusing on how we can expand within the accounts that we already have?   “New logos are never not going to be part of the portfolio but I think pretty much everyone could agree that it sort of maxes out at 20% of your number in any given year. And 80% of your number is driven by your existing customers.” – Tim Riesterer · [02:00]    Tim Riesterer: Yeah, I don’t want to be captain obvious or have an u...