One of the best ways to increase sales is to strengthen your relationship with your existing customers. You have a lower cost of sales, you can leverage your current relationships, and you can upsell or cross-sell from your products and services you already have in place. This environment will give you a competitive advantage if you are delivering client-centric support.
Client account management teams play a critical role in making this happen. The recent changes in B2B sales have been so significant, and so fast, it requires an entirely new model and approach to growing existing accounts. The account team needs a model that will allow each team member to meet the increased demands of clients and address new requirements for thought leadership.
If they are not satisfying client demands and performing at their maximum efficiency, the door opens for customer satisfaction erosion and competition to step in. There are three areas where a company can improve and enhance its account revenue process.
Improve Capabilities of Account Management Teams
These teams need enhanced relationship skills to interact with client stakeholders, improved articulation of value when positioning solutions to clients, and effectively understand your companies sales process to marshal company resources for success.
Sales Growth Discipline
Account management teams must incorporate an overall account plan that addresses their clients' needs while ensuring their company's total value. This plan must include a robust opportunity pipeline that will leverage existing products and services, enhancing your client's competitive position.
Accounts teams must create a comprehensive client relationship plan, including knowing who is essential, how they make decisions, and what their motivation is, enabling you to move up the internal value chain.
FHS Associates has developed a comprehensive method that includes eight critical elements that work together and creates a sustainable, highly competitive business model that will assist your company in growing overall account presence and deepen client relationships.
This service is a contributor-mentor model that has over 20 years of implementation success and has a flexible integration that we adapt to your existing account sales process. The following has eight critical elements that work together and creates a sustainable, highly competitive business model that will assist your company in growing existing accounts with unique thought leadership.
When assisting clients in expanding revenue within existing customers, FHS utilizes a concept called Contributor-Mentor. This concept is not advisory but rather a hands-on execution model. We take the lead and bring our tools, templates, sales experience, and execute our proven methodology within your existing account environment, expanding revenue, relationships, and new areas of opportunity.
Opportunity Pipeline Execution
Develop opportunity pursuit plans (this is an interactive process that must develop competitive insights creating tactics to move the pursuit forward)
Continuously evaluate all moving aspects of the pursuit and ensure they are moving forward to closure
Customer Account Plan Review
Execute a detailed monthly review of the account plan on the following items: