Often customer accounts aren’t viewed as investments in time and money, and may get unnecessary attention based on their actual and potential sales volume.
Account Management. The major goals are to increase revenue, decrease costs, and enhance the customer experience with a focus on improved service and outside sales coverage within your existing account base.
Ability to classify your customers in terms of their current sales and future potential can help to determine how to service these customers and where priorities should be placed. Set up a simple matrix in which you’re matching the actual sales with the potential for add-on or up-selling.
These accounts have low actual sales and low potential, and require little investment. They can be considered “take it or leave it” customers.
The accounts that have high potential and high actual sales are your top customers and demand attention. The accounts that have low actual sales but high potential are considered target accounts. Other considerations include low potential and high actual sales where you want to be service-oriented, but not necessarily in a business-building mode. The main purpose of this assessment is to evaluate the potential and actual sales performance of your accounts and determine how to prioritize account management