Strategic Account Retention begins with a thorough understanding of the key client’s needs and wants. This applies not only to the company itself and the products & services that they require — but also the specific insights, assistance, requirements and preferences of the key client stakeholders.
The recommended article below outlines some key questions to consider when doing an internal audit of strategic or key clients. There are however several other considerations and best practices which leading client retention organizations employ. Ultimately, attention to detail, a formalized Account Retention Program, specific account retention best practices – vigorously applied and strong audited – will yield value-adding results and enabled sustained profitability.
For nearly 9 years, I have been an integral part of forming an effective Strategic Account Leadership team across a portfolio of multimillion (each one $25 Million in annual sales or more). The scar tissue from some moderate account losses (never a full account but various services or geographies, thankfully) and the exultation of successful account retention have provided me with deep insights in how to achieve excellence in this functional realm. Via Pheon Consulting, these best practices can be used to set-up, further develop or enhance an Strategic Account Retention program.
Read the article HERE via CPSA