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Casual Articles - Account Management - How to Manage Accounts to Maximize Sales
Because a franchise system is a symbiotic relationship, franchisors spend as much time studying you as you researching about them. Yes you may bring in added income and aid the expansion plans of the company but if you end up not equal to the tasks of managing their company’s name, you may do them more harm than good.So to give you a general idea of what franchisors look for in applicants and to help you put your best foot forward during your application process, read on.Franchisors like people who are comfortable in dealing with people. As a franchisee, you will be trusted with the company’s good name and reputation. If you get
What kinds of records do you need to keep? Picture a large, three-dimensional spreadsheet in your mind. In the left-hand column is a list
It's been a difficult year for the label manufacturer. Price pressure has increased and margins have been under steady pressure. The consumer wants a bargain and labellers are under pressure to provide budget solutions in an ever more competitive marketplace. Naturally, this worms its way down the chain of supply and almost everyone in the self adhesive labels industry is feeling the pinch. At the same time, manufacturers of packaged goods are striving to provide the consumer with an even wider range of products and variants. Larger stock-keeping units in turn means shorter runs for the label printer.Most label printers spend
- What is "Account Management"?
- What skills and talents are required to excel in Account Management?
- What activities must be performed to maximize Account Management ROI?
What is Account Management?
Account management is actually a synonym for account penetration. Just because you have sold one product or service to one business entity within an organization doesn't mean your job is done. Think of all the additional opportunities that may exist in the account! For example:
- Does your company offer additional products or services that might be a "fit" for this customer?
- How many other business units, departments, divisions, and subsidiaries are potential prospects for your company's offering(s)?
A critical talent for successful account management is the ability to build relationships, as relationship selling is a very effective way to increase account penetration. Another critical skill/talent is organization. If you are going to manage large accounts effectively, you need to be willing and able to keep meticulous records.
What kinds of records do you need to keep? Picture a large, three-dimensional spreadsheet in your mind. In the left-hand column is a list
We use a convenient laundry service that picks up our dry-cleaning and delivers.A new pair of fashion pants came back from the cleaner utterly destroyed. The cloth had bubbled and buckled and almost torn apart.Next to the telephone number on the laundry receipt was a small note: ‘Liability may be limited to the cost of dry-cleaning.’With concern in my voice, I called the proprietor of Laundry Unlimited. To her credit, she listened to my report and immediately replied, ‘Well, it sounds like we need to buy you another pair of pants without delay.’Dry-cleaning cost? $7. New pants? $150.It will take many dry-cleanin
What is Account Management?
Account management is actually a synonym for account penetration. Just because you have sold one product or service to one business entity within an organization doesn't mean your job is done. Think of all the additional opportunities that may exist in the account! For example:
- Does your company offer additional products or services that might be a "fit" for this customer?
- How many other business units, departments, divisions, and subsidiaries are potential prospects for your company's offering(s)?
A critical talent for successful account management is the ability to build relationships, as relationship selling is a very effective way to increase account penetration. Another critical skill/talent is organization. If you are going to manage large accounts effectively, you need to be willing and able to keep meticulous records.
What kinds of records do you need to keep? Picture a large, three-dimensional spreadsheet in your mind. In the left-hand column is a list
“Change is inevitable; except from a vending machine” author unknownOnly a few things stay constant in life. For me, one example would be my hair follicles. Last year I was bald; this year I am still bald. The Chicago Cubs haven’t been to a World Series in 100 years, so that never changes. Other than that, we live in a state of constant change.Even Dell Computers is changing. They will now sell computers in retail stores, a marked departure from their previous philosophy. Dell has always been a mail-order and online computer company, with no retail presence. All of their computers are manufactured to your specifications, and it
- Does your company offer additional products or services that might be a "fit" for this customer?
- How many other business units, departments, divisions, and subsidiaries are potential prospects for your company's offering(s)?
A critical talent for successful account management is the ability to build relationships, as relationship selling is a very effective way to increase account penetration. Another critical skill/talent is organization. If you are going to manage large accounts effectively, you need to be willing and able to keep meticulous records.
What kinds of records do you need to keep? Picture a large, three-dimensional spreadsheet in your mind. In the left-hand column is a list
For years huge software companies have dominated the software marketplace by charging businesses a hefty price for using their software. Thankfully there are software developers out there that offer a free alternative.Open source software is usually as good as the commercial versions. Here is a list of commercial products and their open source alternatives (with descriptions) that you can use to run your small business – best of all these open source software titles are FREE!- GENERAL OFFICE SOFTWARE (SPREADSHEET, WORD PROCESSING, PRESENTATIONS, ETC…) Commercial Product: Microsoft Office Open Source Alternative: OpenOffi
A critical talent for successful account management is the ability to build relationships, as relationship selling is a very effective way to increase account penetration. Another critical skill/talent is organization. If you are going to manage large accounts effectively, you need to be willing and able to keep meticulous records.
What kinds of records do you need to keep? Picture a large, three-dimensional spreadsheet in your mind. In the left-hand column is a list
Do you consider your business card a marketing tool, or just a basic business necessity? If your answer is "a basic business necessity" you're missing out on an inexpensive, often overlooked, valuable marketing tool.I think many small business owners miss the boat when it comes to their business card. I'm looking at a variety of cards right now that I've received over the past few months.Most of them are missing at least one key element that could be helping them attract more clients and prospects.Most business cards include the basic contact information, but that's where they stop.Your business card is a marketing o
What kinds of records do you need to keep? Picture a large, three-dimensional spreadsheet in your mind. In the left-hand column is a list of every product and service that you could possibly sell to a customer. Across the top of the spreadsheet are all of the business units, departments, divisions, and other business entities that make up your account's entire organization. Behind each business entity is every contact you know within that business entity.
Armed with this mental picture, ask yourself the following questions:
- Which business entities are you doing business with?
- Which business entities are you not doing business with?
- Where are the various business entities located?
- Which products and services does each business entity already purchase from you?
- Which products and services are they not purchasing from you?
- Who do you know in each business entity?
- Which of these contacts have you already asked for referrals and testimonials?
- What referrals and testimonials have they given you?
Hopefully your organization has some type of CRM (Client Relationship Management) software application to help you keep track of your answers to these questions. If you don't have access to a corporate CRM system, here are some other options:
- You can purchase a software package like ACT! Or GoldMine
- You can subscribe to an online service like salesforce
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