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Seven key drivers of strategic account management to helps SAMs leverage customer insights and co-create value in the face of industry disruptions. The post The Essential Seven Factors for Unlocking Strategic AccountGrowth appeared first on Strategic Account Management Association.
In this episode Jenny breaks down the three key areas to focus on if you want to maximise the growth of your existing client accounts in 2025: Client-centric accountgrowth 1. They have client development plans in place and work differently with ‘growth’ clients than maintenance clients.
Large enterprise clients – your key accounts – are transforming rapidly to keep pace with the complexities of globalization and digitization. While the promise of key accountgrowth and profitability is ripe for the taking, key clients offer growth opportunities to strategic partners who can help them grow and compete.
Account Planning Growth Strategy For businesses looking to grow their revenue and achieve their goals, an effective accountgrowth strategy is essential. This strategy involves developing a comprehensive plan to manage and grow the customer accounts that are critical to the business’s success. What worked?
A challenging market in recent years has caused many companies to reconsider how they balance new account acquisition with existing customer expansion. Keep reading for 3 practical shifts your organization […] The post 3 Practical Ways to Optimize AccountGrowth appeared first on SOAR Performance Group.
Establish Clear Metrics Account management KPIs should include retention rates, accountgrowth, and customer satisfaction. Create Appropriate Compensation Models For account managers, reward retention and growth within existing accounts.
Understanding AccountGrowth Strategy In this section, we will take a closer look at the intricacies and purpose of accountgrowth strategy. Understanding how to effectively implement this strategy is crucial for long-term success in maximizing your business growth and revenue.
She has: * Ensured client service consistency across agency teams * Championed a more client-centric mindset * Enhanced client retention by encouraging greater team proactivity * Identified and closed accountgrowth opportunities * Improved the client’s experience by gathering, tracking and acting on feedback
Key account management is the secret to grow revenue and customer retention. Importance of key account management Existing business is cheaper and more profitable than new business. Accountgrowth, renewals and advocacy are difficult for indirect suppliers because procurement focus on spend management. Pass it on.
Key QBR Metrics to Track: Tracking the following metrics can help you gain valuable insights into the health and performance of your accounts, identify areas for improvement, and make data-driven decisions to strengthen your relationships and drive growth.
Strategic Planning Account-specific growth strategy alignment with account goals Collaboration with economic decision makers on long-term objectives Responsiveness to shifts in account strategy 4.
The One-Door Problem: A Narrow, Internalized View of the Market Yet, CRM-native KAM assumes that key account intelligence is a closed-loop systemone that begins and ends with internal sales data. Key accountgrowth is driven by external forces: Market shifts that redefine customer needs. The reality is far more complex.
Not all customers are key accounts. The greatest return on investment requires a portfolio of clients with significant opportunity for accountgrowth. The key account manager isn't the sole face of the business to the customer. Revenue comes from up-sell, cross-sell, expansion and improved margin. For everyone.
?. Welcome to Episode 45. This chat with Richard Long , Director of Strategy & Communications at earthware will be particularly interesting for you if you’re curious to understand how management consultancies operate versus agencies, and why they could potentially be posing a threat to your agency business.
A well-tuned system can mean the difference between a team that’s reactive and one that’s actively driving accountgrowth. Automation elevates this by streamlining processes, freeing up reps to focus on high-value activities like building relationships and uncovering growth opportunities.
Here’s how: Whitespace Identification: AI ranks leads by conversion likelihood, helping KAMs focus on high-potential accounts and uncover untapped opportunities. Predictive Analytics: AI forecasts accountgrowth and churn, empowering teams to take proactive action.
Coming up: How to Build a Successful Executive Sponsorship Program JULY 26 I'll be hosting a live workshop to explain how to create an executive partnership program that pairs senior executives with account managers to focus on accountgrowth and retention.
After all, if you look like a sales rep, talk like a sales rep, and act like a sales rep, why are you going by “accountgrowth manager”? When you’re prospecting on LinkedIn, using a job title that throws prospects off the sales scent is confusing at best. It’ll make your prospects trust you less.
The study revealed a difference between what account managers believed was required to grow an account and what actually did. They found the prevailing mindset among AMs (88% in fact) was if they went ‘above and beyond’ on service, it lead to accountgrowth.
Key account managers have revenue targets too. A big part of the role is accountgrowth and expansion. They don't have to sell anything; all they have to do is keep the customer satisfied. As a result, they prioritise great service above all else. But guess what? Expect to have quotas for upsell, cross sell and expansion.
There’s an accountgrowth problem for agencies with hybrid account managers. When I say ‘hybrid’ I mean, you are responsible for accountgrowth but you’re also responsible for delivering projects. Why does it create an accountgrowth problem? Skillset a.
Not only can you look at revenue trends over time, but you can also compare MRR to the monthly sign up rate for your product or service, monthly accountgrowth rate, and customer retention. It tells you and your VP how much income is generated each month.
I speak to multiple account managers (AMs) every day. Hybrid’ AMs (project managing as well as responsible for accountgrowth) particularly struggle. Lack of accountgrowth culture or process Accountgrowth is a process like any other agency process. Do you struggle to think ahead about your clients?
What qualifications do I need to be a key account manager? Key account manager attributes Key account managers are responsible for everything to do with the customer lifecycle. From service delivery to accountgrowth, to customer retention, and everything between.
And clearly bringing new ideas would be equally beneficial to the agency’s bottom line – accountgrowth is cheaper than finding new business as well as highly profitable. Pitching new ideas without the context of understanding the client’s challenges and goals can come across as too ‘salesy’.
Relationship management , account planning, strategic partnerships, whitespace analysis , sales forecasting, competitive analysis, internal collaboration, executive presentations, tracking accountgrowth… phew! That’s a lot of activities to squeeze in every single day.
Currently, many of my programme participants are just three months in and already getting very impressive accountgrowth results, and this is down to them being coachable and also taking action on what we’re covering, with me supporting them with the implementation.
Customer Experience: Sustaining Growth Through Satisfaction Customer service, support, success, and/or experience – by whatever name you call these teams – are the guardians of revenue retention and the connective tissue for accountgrowth.
Some firms try to rectify the situation by creating fairly strong disincentives for write-offs, which only serves to put partners, MDs, and others responsible for accountgrowth and health firmly between a rock and a hard place.
They want more predictable client retention and growth, which is less expensive than pitching for new business. They want to hardwire accountgrowth into the agency’s internal processes so that accountgrowth becomes repeatable. And ultimately, what they are looking for are three things.
Their responsibilities revolve around: Regular client communication to ensure satisfaction Addressing customer needs and resolving issues effectively Identifying opportunities for accountgrowth and upselling This dedicated approach to customer retention is fundamental in creating loyal, long-term partnerships that guarantee stable revenue streams.
Moreover, companies that use a solution designed specifically for account planning have an 11-point advantage over those using manual efforts and a 9-point advantage over those using homegrown or CRM applications. What would a 9 to 11-point increase to your key accountgrowth mean for your organization?
If you want to know the quickest and easiest ways that are working right now for other agencies, check out the details of my Account Accelerator programme. It’s a year long coaching and training programme for those responsible for accountgrowth in the agency who are managing those client relationships on a day to day basis.
I’ve had 30 years experience in account management and, having trained accountgrowth since 2016, I know not all account managers have the skills, the experience or the mindset to deliver at this level, and many agencies don’t have the right internal processes in place to support their account managers with accountgrowth.
Why do account managers miss new accountgrowth opportunities in client meetings? What are the key benefits (to the account manager) of asking the client great questions? Often it’s because they haven’t asked the right questions.
It’s a 12 month training and coaching programme that’s specifically designed to build an entrepreneurial mindset in account management which means: • Having an effective account management and accountgrowth process – that is understood and followed consistently by all your account managers • Having an end-to-end client growth framework (from (..)
Sharen Murnaghan , key accountgrowth strategist at HubSpot. This doesn’t qualify what you did with the call. Did you get to speak to someone, or did you leave a voicemail? If you didn't do either, then does it count as a sales call? 2) "Go after everyone you can think of.”.
With One-Click QBRs you can now track and measure your new logo accounts and pipeline progress automatically, right inside your QBRs. Ready to drive new logo accountgrowth? So to bring it all together we have one more one-click solution for channel and partner teams.
Among the many options available, DemandFarm is a powerful ally for businesses managing complex, high-value accounts. Its focus on relationship mapping, white space analysis, and strategic planning goes beyond just accelerating salesit helps create a sustainable path for long-term accountgrowth.
[link] www.salesmatrixcourses.com www.uksmosthatedsalestrainer.com www.youtube.com/c/UKsMostHatedSalesTrainer If you’re listening to this at the end of 2023, I’m opening enrolment soon for my one year Account Accelerator training and coaching programme that starts on 11th January 2024.
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