Every business’s objective is to squeeze every pound of profit from their customers.

You can achieve this by getting closer to your customer and developing a better understanding and appreciation of their business, its needs and challenges. As a result, you are more likely to identify and exploit revenue and profit opportunities and less likely to be the last to know that you have lost a customer’s business.

Your best customers are your competitors’ top prospects, protect against losing them by implementing a pro active account management programme.

When we discuss implementing a proactive account management programme with clients in order to develop additional revenues for their business, we are greeted with a response along the lines of “We are busy enough already. We already talk with our customers. Our account managers are just order takers and your programme will cost money”.

In our experience businesses often fail to maximise customer revenues by allowing their account managers to simply take orders instead of digging a little deeper, and adopting a more professional, structured approach. Obviously, it should be easier to sell to existing customers; it’s clearly much cheaper and more profitable than constantly chasing new customers.

Don’t think for one minute that we are suggesting that you don’t need to be pursuing new customers because obviously you do. It has been suggested that you will lose 10% of your clients every 5 years through natural wastage i.e. they go out of business or they no longer need your product or service.

Despite regular contact with their customers, some of our clients still seem to be the last to know that they have lost the business! Often this is because they are communicating at the wrong level. Although the user may be satisfied with the product or service at an operational level, the decision to change suppliers may come from a more senior level and is often made without consulting the user.

On more than one occasion, we have seen a multi million pound business crippled overnight because nobody had foreseen the effect of losing a key customer and consequently they were unprepared and it almost destroyed their business.
Summary

We have shown why proactive account management and development are essential for business growth and increased profit; let’s now move on to implementing it.

New Mindset has the experience to support your business through our practical and experience based approach providing answers, processes and plans that lead to increased revenue and profit.

Government grants are available to pay some or all of our fees. Check to see if your business is eligible.

If you would like to know more about how we can support your business CALL 01276 537 282 or complete our online enquiry form, we will be in touch.