Account Management

• October 5, 2017

We All Spend Time, Money And Effort Finding New Customers So We Can Grow Our Business. However, The Opportunity Of Growth Is Typically Among The Customers We Already Have.

Getting the most from our existing customers is a skill that is often overlooked, but can bring incredible results when perfected. I believe that the reason new customers are pursued with such vigor is that they always appear more exciting. The thrill of the chase can be addictive and emotionally more rewarding. By adopting this technique, we are not only overlooking our existing contacts, but missing substantial opportunities.

Ask yourself the following questions:

• • Are you aware of your customer’s future plans?

• • Do your existing customers know all the services you provide?

• • Do you review your customer accounts at least every 6 months?

• • Do you make regular contact with your contacts who never became customers?

If you have answered NO to any of these questions, you are losing out on winning business and making money.

Develop a systemized process

Great sales procedures avoid the requirement of individual brilliance. Integrating your process with a CRM (contact management system) will ensure that nothing gets missed and all promises are kept.

Design a method that details your ideal customer experience. Play out every eventuality from initial contact through to first meeting and onwards to close. You will know how to arrive at the desired outcome and how that is best achieved. Create a template for each e-mail and letter at each stage and develop a flow chart to record your process. Attach the relevant communication to each stage of the process and ensure this policy is followed. Also consider what happens once the prospect has made a decision. Continue this process with a number of scheduled communications, and integrate this into your CRM system.

Create a product matrix

Consider every product and service you offer and every customer you do business with. Plot this information on a matrix.  Can you see the gaps? Now you know exactly the potential new business within your reach and what you need to discuss with each client.

Vary communication methods

Continually change the way you communicate with your clients and prospects. Every method has its place, but bear in mind that all will lose impact and minimize effect if used consistently. Consider social media tools, email with images, text messages, direct mail, pick up the phone or speak face to face. Variety will keep your contacts interested and engaged.

Hold review meetings

Your customers are your most valuable asset. They should be cherished and nurtured. Holding regular meetings with your customers presents you with the opportunity to under sell and over deliver. Introduce them to valuable contacts, techniques and processes that will help them develop their business or reduce costs. The key purpose of the meeting is to establish opportunities and discover how you can help them further. Determine problems you can fix or goals you can help them realize. Understanding your client’s plans and challenges presents you with an abundance of ways you can help them.

These are all practices you can implement immediately.

What are you waiting for?