Terms

Net New Business

What is Net New Business?

Net new business refers to revenue generated from newly acquired customers or reactivated accounts, excluding revenue from upselling or cross-selling to existing active customers. It represents a primary source of revenue growth for businesses, playing a crucial role in expanding a company's financial base and ensuring long-term sustainability and success.

Strategies for Growing Net New Business

To grow net new business effectively, focus on several strategic areas:

  • Strategic Prospecting: Identify and engage potential new clients by understanding their business goals and challenges.
  • Digital Marketing: Leverage online platforms to reach and convert new customers.
  • Client Relationship Management: Conduct regular business reviews and maintain consistent communication with clients to foster trust and uncover new opportunities.

Key Metrics for Tracking Net New Business

  • Revenue Growth Rate: Calculate the percentage increase in revenue over a specific period to track the effectiveness of net new business acquisition strategies.
  • Customer Acquisition Cost (CAC): Measure the average cost of acquiring a new customer by dividing the total sales and marketing expenses by the number of new customers acquired.
  • Customer Lifetime Value (CLTV): Estimate the total revenue a business can generate from a single customer over the entire duration of their relationship.
  • Churn Rate: Determine the percentage of customers lost during a specific period, as a high churn rate may indicate issues with customer satisfaction or product quality.
  • Lead Conversion Rate: Assess the percentage of leads that convert into paying customers, providing insights into the effectiveness of sales and marketing efforts.
  • Market Share: Monitor the company's share of the total market, as increasing market share can indicate successful net new business acquisition.

Net New Business vs. Upselling and Cross-Selling

Net new business and upselling or cross-selling are distinct yet complementary strategies for driving revenue growth. While net new business focuses on acquiring new customers or reactivating dormant accounts, upselling and cross-selling involve selling additional products or services to existing clients.

Other terms

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User Testing

Learn about user testing, including how user testing works, benefits of user testing, common user testing methods, & user testing best practices.

User Testing

Sales Dialer

Learn about sales dialer, including types of sales dialers, benefits of using a sales dialer, & choosing the right sales dialer for your team.

Sales Dialer

De-dupe

Learn about de-dupe, including strategies for effective de-duplication, benefits of a de-duped database, de-dupe vs. data cleansing: understanding the differences.

De-dupe

Sales Partnerships

Learn about sales partnerships, including building effective sales partnerships, types of sales partnership models, benefits of cultivating sales partnership.

Sales Partnerships

Sales Funnel

Learn about sales funnel, including stages of a sales funnel, crafting an effective sales funnel, sales funnel vs. sales pipeline.

Sales Funnel

Sales Playbook

Learn about sales playbook, including crafting an effective sales playbook, & components of a comprehensive sales playbook.

Sales Playbook

Sales Strategy

Learn about sales strategy, including developing a successful sales strategy, key components of sales strategy, & sales strategy vs. sales tactics.

Sales Strategy

Referral Marketing

Learn about referral marketing, including benefits of referral marketing, building a successful referral program, & referral marketing vs. affiliate marketing.

Referral Marketing

Commission

Learn about commission, including understanding commission structures, & advantages and disadvantages of commission-based pay.

Commission

Payment Processors

Learn about payment processors, & including I understand your requirements. Here are four headings that you could use for your article:.

Payment Processors

Account View Through Rate

Learn about account view through rate, including maximizing account view through rate, & key metrics to track and improve.

Account View Through Rate

B2B Data Platform

Learn about B2B data platform, including key benefits of B2B data platforms, choosing the right B2B data platform, challenges in implementing B2B data platforms.

B2B Data Platform

Process Automation

Learn about process automation, including types of process automation, benefits of process automation, how to implement automation, & challenges in automation.

Process Automation

Letter of Intent

Learn about letter of intent, including understanding the letter of intent (LOI), essential components of a LOI, LOI in academic and professional applications.

Letter of Intent

Call Analytics

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Call Analytics

Video Selling

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Video Selling

Marketing Analytics

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Marketing Analytics

Nurture Campaign

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Nurture Campaign

Master Service Agreement

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Master Service Agreement

Content Syndication

Learn about content syndication, including benefits of content syndication, steps to implement content syndication, & best practices for content syndication.

Content Syndication

Buyer Intent Data

Learn about buyer intent data, including sourcing and interpreting buyer intent data, & key metrics in buyer intent analysis.

Buyer Intent Data

Version Control Systems

Learn about version control systems, including understanding version control systems, benefits of using version control, & types of version control systems.

Version Control Systems

Marketing Automation Platform

Learn about marketing automation platform, including key benefits of marketing automation, & essential features of marketing automation platforms.

Marketing Automation Platform

Customer Retention

Learn about customer retention, including strategies for improving customer retention, & key metrics in customer retention.

Customer Retention

Challenger Sales Model

Learn about challenger sales model, including key principles of challenger sales, implementing the challenger approach, & challenger vs. solution selling.

Challenger Sales Model

Sales Enablement Content

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Sales Enablement Content

Sales Coach

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Sales Coach

Mobile Compatibility

Learn about mobile compatibility, including understanding its importance, benefits of mobile compatibility, & adapting websites for mobile.

Mobile Compatibility

Accounts Payable

Learn about accounts payable, including understanding accounts payable, accounts payable process, importance of accounts payable, & managing accounts payable.

Accounts Payable

Business to customer

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Business to customer

Lead Qualification

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Lead Qualification

Price Optimization

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Price Optimization

Marketing Operations

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Marketing Operations

B2C2B

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B2C2B

BAB Formula

Learn about BAB formula, including implementing BAB in sales strategies, crafting an effective BAB pitch, & comparing BAB with other sales frameworks.

BAB Formula

Phishing Attacks

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Phishing Attacks

Marketing Metrics

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Marketing Metrics

B2B Marketing Attribution

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B2B Marketing Attribution

Contact Data

Learn about contact data, including sources and collection methods of contact data, & the significance of accurate contact data.

Contact Data

Account Management

Learn about account management, including the roles and responsibilities in account management, & key strategies for effective account management.

Account Management

Content Rights Management

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Content Rights Management

SQL

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SQL

Click-Through Rate

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Click-Through Rate

Closed Lost

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Closed Lost

Internal signals

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Internal signals

Data Enrichment

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Data Enrichment

Sales Team Management

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Sales Team Management

Buying Process

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Buying Process

Call for Proposal

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Call for Proposal

Corporate Identity

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Corporate Identity

Sales Automation

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Sales Automation

Sales Champion

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Sales Champion

Drip Campaign

Learn about drip campaign, including crafting an effective drip campaign, examples of successful drip campaigns, drip campaign vs. bulk emailing: understanding the differences.

Drip Campaign

Data-Driven Marketing

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Data-Driven Marketing

Trademarks

Learn about trademarks, including how to secure a trademark, trademark examples and best practices, & trademarks vs. copyrights vs. patents.

Trademarks

Analytics Platforms

Learn about analytics platforms, including understanding the role, benefits to sales teams, key features to look for, & choosing the right solution.

Analytics Platforms

Cloud-based CRM

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Cloud-based CRM

Bounce Rate

Learn about bounce rate, including understanding bounce rate implications, key factors affecting bounce rate, & reducing your bounce rate effectively.

Bounce Rate

SDK

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SDK

Smile and Dial

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Smile and Dial

Order Management

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Order Management

ABM Orchestration

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ABM Orchestration

Hard Sell

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Hard Sell

Data Pipelines

Learn about data pipelines, including overview of data pipelines, benefits for outbound sales, designing effective pipelines, and best practices for implementation.

Data Pipelines

Sales Intelligence

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Sales Intelligence

Audience Targeting

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Audience Targeting

Performance Plan

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Performance Plan

Predictive Customer Lifetime Value

Learn about predictive customer lifetime value, including benefits of predictive CLV, & calculating predictive CLV: a step-by-step guide.

Predictive Customer Lifetime Value

Personalization in Sales

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Personalization in Sales

Digital Rights Management

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Digital Rights Management

Lead Qualification Process

Learn about lead qualification process, including identifying key lead qualification criteria, & steps in a successful qualification process.

Lead Qualification Process

Account-Based Marketing

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Account-Based Marketing

Demand Capture

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Demand Capture

Deal Closing

Learn about deal closing, including strategies for successful deal closing, key elements of a strong close, & deal closing versus lead nurturing.

Deal Closing

Call Disposition

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Call Disposition

User Interaction

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User Interaction

Google Analytics

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Google Analytics

Real-time Data Processing

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Real-time Data Processing

Target Account Selling

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Target Account Selling

Sales Pipeline Reporting

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Sales Pipeline Reporting

User Experience

Learn about user experience, including principles of user experience design, & enhancing user experience: best practices.

User Experience

Shipping Solutions

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Shipping Solutions

Subscription Models

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Subscription Models

Account-Based Sales

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Account-Based Sales

Statement of Work

Learn about statement of work, including key components of a statement of work, & crafting an effective statement of work.

Statement of Work

AI Data Enrichment

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AI Data Enrichment

Marketing Attribution

Learn about marketing attribution, including the importance of marketing attribution, & models of marketing attribution explained.

Marketing Attribution

Content Curation

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Content Curation

Warm Calling

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Warm Calling

Webhooks

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Webhooks

Demographic Segmentation in Marketing

Learn about demographic segmentation in marketing, including understanding demographic variables, & implementing demographic segmentation.

Demographic Segmentation in Marketing

Ballpark

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Ballpark

Lookalike Audiences

Learn about lookalike audiences, including creating lookalike audiences: a step-by-step guide, & benefits of leveraging lookalike audiences.

Lookalike Audiences

Serviceable Obtainable Market

Learn about serviceable obtainable market, including calculating serviceable obtainable market, & key factors influencing serviceable obtainable market.

Serviceable Obtainable Market

Customer Engagement

Learn about customer engagement, including strategies for elevating customer engagement, & key metrics to measure engagement.

Customer Engagement

Digital Strategy

Learn about digital strategy, including developing an effective digital strategy, key components of digital strategy, & digital strategy vs. digital marketing.

Digital Strategy

Sales Conversion Rate

Learn about sales conversion rate, including maximizing your sales conversion rate, & factors influencing conversion rates.

Sales Conversion Rate

End of Quarter

Learn about end of quarter, including maximizing sales before closing, strategies for end of quarter preparation, & evaluating performance post-quarter.

End of Quarter

Segmentation Analysis

Learn about segmentation analysis, including understanding the benefits, steps to conduct segmentation analysis, & types of segmentation methods.

Segmentation Analysis

CDP

Learn about CDP, including how CDP enhances outbound sales, benefits of using CDP, implementing CDP tools, & CDP vs. CRM.

CDP
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