Account management is the process of developing a solid, long-term relationship with your clients. It’s important to do this right because the result is strong customer loyalty which can reduce churn and increase customer lifetime value.
Managing an account is so much more than its primary job description. It is about understanding the account, their needs, their pain points, their strongest suits, and every little detail that is relevant to their business. While this might seem difficult, it could be broken into pretty simple things. Here are some ways to successfully manage an account:
1. Transparent Communication
Communication is key. Try to be as transparent as possible when dealing with your customers. It’s really important to show them that they can trust you and that they know what’s going on at all times.
It’s important that your clients know you have their best interests in mind, and clear communication is a vital component of this. If a client has a question, make sure you are available to answer it or to find the appropriate person who can address their questions. Be as transparent as possible about everything from the client’s account to the way pricing works for your product.
2. Understand their needs
Have a good understanding of their company, the products or services that they are providing to customers, and their current marketing budget and goals. Being able to put yourself in your client’s shoes will help you better understand the obstacles they might face and come up with solutions for them.
3. Collaborate to Solve Problems
Knowing your customer’s business is helpful but not enough. It’s also critical to work with them to find solutions to your mutual challenges. By collaborating on a plan that addresses your customer’s needs, you are more likely to create a successful outcome for both parties.
4. Track their behavior and predict future needs
Don’t just provide what is needed today; anticipate problems before they arise and offer solutions that will help your client in the future. Be aware of their objectives and make sure all decisions are made with those goals in mind. This will help establish trust between you and your client as someone who has their best interest at heart.
5. Make sure you are reliable
When you tell a client that you’ll do something for them, they’re relying on you to deliver. Don’t let them down! This is a quick way to lose their trust in you and damage your relationship if they feel like they can’t rely on you. Setting clear expectations with the client is key here so they know what to expect and when.
6. Give regular reports and analyses of growth
Your clients are likely interested in seeing how their business is improving as a result of working with you. Showing them reports at set intervals helps demonstrate the value that they’re getting from working with you, which will improve their satisfaction with your service overall
7. Become an expert at solving problems
Make it a point to learn how each of your key accounts does business. Help them solve their problems and you will succeed. Simply selling products or services does not work anymore because everyone can do that. Be different and be helpful.
A good way to manage your customer’s accounts is by following the tips I shared above. Of course, there are many more out there, but these are a great place to start.
8 Miles solution is good at maintaining relationships with clients and we make sure that our clients are happy as well.