{"id":11724,"date":"2015-05-06T09:35:15","date_gmt":"2015-05-06T09:35:15","guid":{"rendered":"https:\/\/www.plasmacomp.com\/?p=3691"},"modified":"2024-06-27T13:04:57","modified_gmt":"2024-06-27T13:04:57","slug":"sales-life-cycle-management-improving-existing-sales","status":"publish","type":"post","link":"https:\/\/www.plasmacomp.com\/home\/blogs\/sales-life-cycle-management-improving-existing-sales\/","title":{"rendered":"Sales Life Cycle Management: Improving Existing Sales"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"11724\" class=\"elementor elementor-11724\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-70106465 DetailPage e-flex e-con-boxed e-con e-parent\" data-id=\"70106465\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-41aa8d77 elementor-widget elementor-widget-text-editor\" data-id=\"41aa8d77\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>Sales life cycle management (SLCM)<\/strong> is fast becoming integral to a company\u2019s B2B sales and marketing strategy. But what is sales life cycle management?<br>It\u2019s defined as an operating procedure that uses the best practices of the industry to manage client communications. SLCM is specifically aimed at<\/p>\n<ul>\n<li>Retaining existing clients<\/li>\n<li>Winning competitive accounts<\/li>\n<li>Converting \/ making maximum sales<\/li>\n<li>Boosting brand loyalty and value.<\/li>\n<\/ul><div><br><\/div>\n<p>It has been observed that highly <a title=\"What our customers say\" href=\"https:\/\/www.plasmacomp.com\/testimonials.aspx\">successful marketing campaigns<\/a> are the ones that adopt a proactive and personalized approach in reaching out to their customers. Cookie cutter sales pitches are fast being ditched in favor of marketing messages that are in sync with the product and service needs of the customers.<\/p><p><br>And that\u2019s what sales life cycle management helps you do \u2026 reach out to your customers the right way. Do it:<\/p><p><br><\/p>\n<ul>\n<li>At right time<\/li>\n<li>For the right reason, and<\/li>\n<li>With the right message<\/li>\n<\/ul><div><br><\/div>\n<p>In order to do so, the right SLCM solution will collate data from all possible sources within your organization, including ERP software, <a title=\"Why does your company need CRM solutions\" href=\"https:\/\/www.plasmacomp.com\/blogs\/why-does-your-company-need-crm-solution\">CRM platforms<\/a>, and even order processing systems. This is then studied and analyzed to understand the pulse of your audience.<\/p><p><br><\/p>\n<p>The solutions could also identify keywords, trends, and specific milestones that could be the perfect opportunity for you to build stronger relationships with your customers. Four examples of such milestones have been outlined below.<\/p><p><br><\/p>\n<ul>\n<li><strong>Products that are Reaching End of Life:<\/strong><br>As a product\u2019s end of life approaches, your customers are going to start looking around for an alternative. This is the time for you to make an offer that\u2019s relevant and lucrative to them.<\/li><\/ul><div><br><\/div><ul>\n<li><strong>Products that Don\u2019t Have Service Agreements:<\/strong><br>If your customer has bought a product without a service agreement, now would be a good time to swoop in and make a marketing pitch. You could point out the cost, the pain, and the hassle involved in getting a replacement if the product breaks or malfunctions. Not only are you likelier to get a sale, but the customer will also be grateful to you for securing his purchase.<\/li><\/ul><div><br><\/div><ul>\n<li><strong>Products with Expiring Warranties:<\/strong><br>Warranties are always important for customers. If they\u2019re close to the warranty expiration date, use this opportunity to be proactive. Reach out to them with a good offer on warranty extension that they won\u2019t be able to refuse.<\/li><\/ul><div><br><\/div><ul>\n<li><strong>Upsell and Cross-Sell:<\/strong><br>When a customer buys something, his relationship with you doesn\u2019t end there. He is always going to be looking to augment his purchase or scale up in one way or the other. Use your database to identify potential buyers who might be interested.<\/li>\n<\/ul><div><br><\/div>\n<p>These are just a few examples of how the sales life cycle holds many opportunities for enterprises. The right <a title=\"SLCM Solutions for your businesses\" href=\"https:\/\/www.plasmacomp.com\/solutions\/custom-workflows\/sales-lifecycle-management.aspx\">Sales life cycle management solution<\/a> gives companies insight into their customers\u2019 mind, helps them forge lasting relationships with existing customers and builds brand loyalty.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Sales life cycle management (SLCM) is fast becoming integral to a company\u2019s B2B sales and marketing strategy. But what is sales life cycle management?<\/p>\n","protected":false},"author":1,"featured_media":17093,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60,63,64,66],"tags":[],"class_list":["post-11724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blogs","category-business-intelligence","category-business-process-management","category-crm"],"acf":{"dl_description":"","dl_pinterest_image":"","dl_hashtags":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sales Life Cycle Management: Improving Existing Sales<\/title>\n<meta name=\"description\" content=\"Sales life cycle management (SLCM) defined as an operating procedure that uses the best practices of the industry to manage client communications.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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