Do you know when your team last spoke to your Customers?
Do you want to improve client retention by at least 30%?
I bet the answer to the first question is “maybe” at best. This is a common problem in most businesses that rely on repeat business to survive and thrive. This Harvard Business Review article says that it costs 5-25 times more to acquire new customers than it does to retain existing ones.
Recent emails are lost in your support teams inbox, diary notes of account managers’ and little bits of paper. At best they’re in a CRM, but even then, there’s no easy way to see who needs your love the most!
If you’re not talking to your customers your competitors will be, because most businesses spend more money on acquisition than retention.
This issue was especially troubling to me in my other role as the owner of Urgent Couriers. Urgent Couriers that relies on repeat business for 95% of its revenue. My account managers were falling into the trap of being reactive rather than proactive with their account management, responding to customers who called up with an issue rather than communicating with important customers regularly.
This was the reason we created the Exsalerate Account Management Dashboard (AMD) in Exsalerate. George our Exsalerate General Manager explains the AMD functionality succinctly in this video.
The AMD displays clients by:
- How long it is since they last had contact with their account manager
- 3 months plus
- 2-3 months
- 1-2 months
- Current month
- Sorted and segmented by
- Account manager
- Product share
- Whether there is a scheduled activity or not.
By using the Exsalerate Account Management Dashboard your head of sales can now easily see if an account manager is doing their job. More importantly, you can move your client relationships from being reactive to proactive. Since my Urgent Couriers team has been using the ACM proactively our Net Promoter Score has increased by 15 points.