Are you a Founder or Entrepreneur transitioning from startup to scale-up and finding yourself spending more time on the business than in it? That’s a positive sign of growth, but it’s essential to ensure that your client relationships don’t suffer in the process. Here are three critical questions to consider as you navigate this next … Read More
Leadership
Taking Client Tiering to the Next Level
Segmenting clients into different tiers is a strategic approach to effective use of account management time, optimising business relationships and maximising value. Often when tiering clients, we will start at the easiest measurement, revenue, or transaction volume, which makes sense as an initial sorting criterion. However, it is important to dig deeper into our client … Read More
Starting the Year Right with Account Development Plans
Achieving sustained client success demands more than a mere plan – it requires a nuanced and comprehensive strategy. At its core is a profound understanding of clients, delving into what truly drives them. This understanding lays the groundwork for a clear definition of practical and transparent goals, project scopes, objectives, and deliverables that seamlessly align … Read More
How Regular Client Reviews Elevate Relationships beyond Transactions
Are you conducting regular reviews with your clients, especially your key stakeholders? If not, consider these compelling benefits to be gained from engaging in thoughtful discussions, either in person or online, with your clients on a routine basis. 1. Building Stronger Relationships: Regular reviews provide a unique opportunity to strengthen relationships with key stakeholders. These … Read More
Are Account Management KPIs Essential? If So, How Do You Set The Right Ones?
Are account management Key Performance Indicators (KPIs) truly necessary? The spoiler is in the title – the unequivocal answer is yes. They serve a dual purpose – for you to measure success and for your account managers to have a clear sense of purpose and direction. The caveat, though, lies in ensuring that these KPIs … Read More
Unlocking Client Growth: Embracing Discomfort for Business Success
In our pursuit of personal and professional growth, there is a delicate balance between discomfort, growth, and progress. Stepping outside our comfort zones often becomes the catalyst for real change and breakthroughs. Here are a few concepts that can impact on our own decision-making as well as our clients’. The Inverted U Theory The inverted … Read More
Are You Maximising Your Account Management Potential? The Lowdown on Client Tiering
One of the commonly asked questions in account management is whether to tier (or group) clients. In most cases, the answer is yes. Here’s why. Effective time and resource management: By tiering your clients, you can optimise the time and effort of your account managers. Prioritising high-value clients who contribute significantly to your business or … Read More
5 Warning Signs Your Account Management Function is Failing: Is Your Business at Risk?
In the dynamic landscape of business, a robust account management (customer success) function plays a pivotal role in ensuring client satisfaction and fostering loyalty. However, it’s crucial to be aware of five undeniable warning signs that your current account management approach may be falling short. 1. Declining customer satisfaction If you notice a decrease in … Read More
I have a sales team; do I really need account managers too?
So, you’re wondering whether you need an account management team when you already have a sales team? The answer is yes – if you are a business that sells products or services to other businesses and relies on long-term customer relationships. Then account management is essential for success. Sales teams are primarily focused on acquiring new … Read More
Revisiting Fundamentals: What is Account Management?
As a business owner/leader you’ll be no stranger to the importance of sales – it’s what brings in revenue and drives growth. However, there’s another aspect of business that shouldn’t be overlooked either – account management. In fact, good account management can be the difference between a one-time sale and a lifelong client. So, what … Read More