New revenue opportunities are closer than you realize. Here’s how to tap in to them.

Nov 30, 2018

In today's fast-paced, ultra-competitive sales climate, acquiring new customers is one of the most challenging endeavors. But if you're looking to bolster revenue — and who isn't? — one of the simplest, most effective approaches is to take advantage of recurring opportunities with your existing clients. Because your current customers view you as a trusted advisor with whom they have an established relationship, they represent a significant — though often untapped — sales opportunity.

Eaton understands that having access to an arsenal of high-quality, end user-desired products and services is essential when it comes to mining your installed base for new revenue prospects. To that end, we've identified three Eaton options that are exceptionally easy to pitch:

1. Cybersecurity solutions

Considering the magnitude and publicity of recent data breaches, it's not surprising that cyber threats rank among the chief concerns of today's CEOs, according to the findings of PwC's 20th CEO Survey. Yet this escalating fear represents a silver lining for the sales channel; companies that make a concentrated effort to help consumers manage cyber risks can reap a competitive edge in the marketplace. Eaton's new Gigabit Network card (Network-M2) — the first UPS network management card to include UL cybersecurity certification — has provided the sales channel with that very advantage. Offering these cards to your existing customer base as a retrofit is not only a great revenue-booster, but demonstrates that you are aware of their concerns and proactively looking out for their safety.

2. Software updates

Has it been a year since your customer deployed their power management software solution? Then it's the perfect time to check back. From offering consulting services to furnishing upgrades or additional licenses, it pays to touch base with clients around the 365-day mark. For starters, many will likely have added new IT equipment over the past 12 months, which can necessitate changes to the software's original system setup to ensure it remains optimized for the overall environment. Proposing an on-site consulting visit — which enables you to ensure the latest software edition, fine-tune operating parameters and other opportunities — is a win-win for your customers and your revenue stream. In addition, it's a great opportunity to pitch a software upgrade or to supply additional licenses or services.

3. Battery Packs

Flip through your UPS sales records from three to four years ago and you'll uncover a huge cache of revenue possibilities. That's because three- to four-year-old units are ready to have their batteries replaced. Replacement battery packs are not only easy for you to sell, but require minimal effort to install on site. Simply disconnect the existing UPS battery, slide it out, insert the new replacement, then use the included packaging to ship back the old battery for recycling. Safer, faster and more convenient than ever, Eaton battery replacements can quickly boost your sales volume.

There's no denying that attracting new customers and revenue sources is a natural goal for any salesperson. But when times are slow and fresh faces hard to come by, generating recurring revenue from your existing base is an excellent tactic to not only augment sales but enhance customer service and satisfaction as a true value-added provider.

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