Identifying the advantages of account management is not always simple, and firms may attempt to get by with their sales professionals doing account management activities. Overextending your current staff is a recipe for disaster, so let us explain how account managers can increase revenue for your business. Our explanation should give your insight into what to expect from AMs and what they provide for your company.
A Customer’s Point of Contact Garners Trust
Serving as the initial point of contact for clients is among the major ways an account manager maintains a strong customer connection. This may happen in a variety of ways. When a customer has to contact the firm to answer a question or fix an issue, they do so via their account manager.
Even if the AM cannot fix the issue personally, they can point the client in the right direction to someone within the company that can. AMs must comprehend the client’s short- and long-term business objectives and devise a plan to connect these objectives with the account manager’s company so that everyone wins.
A Good Relationship Leads to Upsells and Renewals
By being a constant presence for clients, an account manager has a much better chance of retaining their business. Renewals and upsells are key components of any business, especially when maximizing your revenue. If you don’t have someone catering to their needs, they may bolt when things get rough.
Acquiring new customers is more expensive than keeping the ones you already have. If you don’t use AMs or you assign too many clients to the ones you have, the ship may sink. Customers don’t want to research a new seller either, so it should be a priority to keep the customers happy to have them keep coming back for more.
Data Analysis Keeps Everything Organized
Another pivotal role an account manager has is evaluating clients’ data and providing frequent updates to their clientele. Periodic briefings and progress updates ensure that each client understands what’s happening. This is vital to keep the clients current so that the customer may communicate these findings with their company constituents when considering a renewal.
AMs should be aware of how each of their customers is doing concerning their performance and how the customers feel about their performance. That’s why customer relationship management from AMs is an integral part of any organization. Revenue can skyrocket if you have someone to care for and check on your clients like an account manager.
Account managers are paramount for any company to reach its loftiest aspirations. And learning how account managers can increase revenue for your business by being the main point of contact, fostering renewals, and running data analytics proves you need these fine folks working within your company.
If you can’t add any permanent account managers to your staff, don’t fret because Racket Reps is here to help. Thanks to our B2B account management, we have the most talented and capable account managers on our team who are well-versed to assist you. Whether it’s a short- or long-term commitment, Racket Reps will work with you to continue to meet your goals.