Client Growth – Does the Shake n’ Vac put the freshness back?
Research has shown that great customer service is very much a driver for retaining clients. However, the retention of existing services is not necessarily an account growth strategy. To drive growth, Account Managers need to be having “Client Improvement” discussions. This is bringing new benefits to customers by introducing new ideas, new concepts. Cross-Sell and Up-Sell propositions. So true growth strategies don’t rely on simply maintaining the status quo. Great service is always the building block within the account. Growth comes from a “Zero-Based “approach to establishing real needs now and in the future. Always planning with clients is essential.
As part of my training as an Account Manager many years ago I was introduced to the concept of “The Value Chain”. The combination of a company’s structure and processes designed to generate margin within their given Industry. If an account team fully understands how a client is geared and structured for success, then this prompts the desire to introduce new ways of working. New ways/new products and services that will make the value chain slicker, quicker, more effective. Cross-Sell and Upsell to drive future benefits. This is far more than Retention Based Service Account Management.
Our Zero-Based Approach
Value Chain analysis reviews how a company ticks. This supplements the Zero-Based approach that we advocate at 1st Choice. Our desire to fully understand our client’s business. This enables a true risk analysis. By looking at the future vision of the company we can also review insurance needs now and then to secure plans. A traditional SPIN approach generally deals with propositions around the current situation. I like to look at FPSPIN. Forward Planning Situational Problems, Implications and Needs. Mitigating risk for the future. This can be Blue Sky Thinking
So great customer service is vital. Being a Trusted Advisor is vital. The combination of this means that value-added conversations to drive further sales into one’s clients. This is a true Customer Improvement. We are specialists in our market, so we need to ensure we give proactive specialist advice not just protect the current situation. In some instances, this requires a brave, innovative approach to relationships.
Add value, clean, retain, delight and grow…