Greeting! A successful sale of one or more of the company’s products or services to a business unit, division, or division of a larger organization. Your admin has now assigned ‘Account Management’. If you’re new to account management, you might be asking the following questions:
What is “Account Management”?
What skills and abilities do you need to go beyond account management?
What should I do to maximize my account management ROI?
Answering these questions is the focus of this article.
What is Account Management?
Account management is synonymous with account penetration. Selling products or services to your organization’s businesses doesn’t mean your job is done. Think of all the additional opportunities available on your account! yes:
Does your company offer additional products or services that might “fit” this customer?
How many potential business units, divisions, departments and subsidiaries will you offer your product to?
Required Skills and Abilities
An important skill for teliqua account management success is the ability to build relationships. Selling relationships is a very effective way to increase the penetration of your account. Another important skill/talent is organization. If you are effectively managing a large account, you must be prepared to keep records with great care.
What records should I keep? Visualize a large three-dimensional spreadsheet in your head. The left column contains a list of all products and services available for sale to customers. The top of the spreadsheet shows the business units, departments, departments, and other business entities that make up the overall organization of your account. Behind every business entity is every relationship you know within a business entity.
With this mental image in your arms, ask yourself the following questions:
What companies do you do business with?
Which businesses did not do business with?
Where are the various offices located?
What products and services has each company already purchased?
What products or services do they not buy from you?
Who do you know in each business organization?
Which of these contacts have already requested references and testimonies?
What references and testimonies did they give you?
I wish my organization had a customer relationship management (CRM) software application to help me track the answers to these questions. If you don’t have access to your enterprise CRM system, your options include:
You can purchase software packages like ACT. Or Kanayama?
Can I register with online services such as salesforce.com?
Can you use a spreadsheet, database, or email program to track information?
Then plan a strategy to increase account penetration by considering the following questions:
What process are you using to regularly disclose your company’s entire portfolio of products and services to each contact on your account?
Who can provide letters of recommendation to help you get business from other business units, divisions, and departments in your account?
Who can introduce new contacts from other business units, divisions, or departments in the account?
Why repeatedly disclose your connection to your entire portfolio of products and services? Because they forgot! My personal experience is that customers don’t get frustrated enough to find out that they have placed large orders with other sellers. I didn’t remember. You can fill it up!
Is there anything else for account management?
There may be, but activities focused on increasing the prevalence of accounts form an important core. Account management becomes more complex when a group of people manages local, national, or global accounts, but most of the complexity involves coordinating the activities of team members.
Don’t overcomplicate account management. Its primary purpose is to maximize account penetration.