Leveraging Customer Relationships And Optimizing Processes For Maximum Growth with Mark Kosoglow Part 2

Selling Saas

Mark Kosoglow discusses how the traditional approach of acquiring new customers using large amounts of money and resources is no longer viable in the current climate. Instead, Mark suggests investing in existing customers to improve retention, increase referrals, and reduce deal cycles, as well as lowering marketing budgets. This 'friends and family' approach is a better way to drive growth and will result in a more sustainable business model. The traditional model of hiring more salespeople and spending heavily on lead generation is no longer effective due to the large number of decision-makers involved in deals and the higher risk associated with it.

Mark and Duane discussed that if you are focusing on acquisition and not taking care of your existing customers, you will lose money in the long run. They argue that you need to focus on taking care of what you already have and not just acquiring new customers. They also point out that companies like Salesforce have successful customer retention strategies that involve having robust customer success, account management, and support teams.

They said that you cannot just monetize everything on the front end, and if you don't take care of your existing customers, you will have negative churn. Finally, they add that listening to customer success teams, phone calls, and account review meetings is essential for growth.

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