Well, I confess. I've never heard it put like that, but close.
In interviews with CEO's, CMO's, sales managers and active investors alike, we have heard a familiar refrain to one of our first, and most basic questions: "What does your business need the most?" Nine out of ten times, we get a simple response. Even when said many different ways, it sounds like this: "We need more sales and revenue. We need new customers."
And that's when we usually say, frackin' hell!? Are you sure?
Let me explain. Fracking is all over the news these days. It has led to a resurgence in the US energy sector. Some say so successfully, we're heading to a net energy exporter status? Wow, that's new sales revenue.
Fracking is to oil and gas exploration what customer data mining is to new sales revenue generation to companies of all kinds, in virtually all industry segments.
Just like the oil and gas desposits hiding deep in old places, your current customers are doing the same. They're hiding in your data vault waiting for you to find new ways to supply or service them to get the revenue flowing.
That's new revenue from existing customers, just like new gas and oil from old wells.
And better yet, that's the most cost-effective and easiest way to fire-up new sales. These customers already know you. And you know where they are, what they've done and how to contact them.
Go ask them for new business. Do that first, before you start looking for new customers -- or at least do it simultaneously.
If you need help or a new perspective on your current customers' present value, give us a shout. We will introduce you to PowerCore, our proprietary customer analytics tool. We use it to identify your best customers, what their habits are, how profitable they are and what you might offer them to re-ignite or generate increased sales revenues from them.
It's a frackin' good idea.