Your account management team is the lifeline to your customers.
In addition to being the face of your business, they are directly or indirectly responsible for your business’s Net Churn (Total $ in growth – Total $ in Churn), but they also oversee a combination of the following activities:
- Own client relationships
- Assist with end user product adoption
- Train customers on product updates
- Manage renewal process and other negotiations
- Upsell and cross-sell to existing clients
Far too many organizations focus solely on their sales team performance and overlook a valuable opportunity to develop account managers, who spend time communicating with their clients on a daily basis. Afterall, the cost of keeping a client is significantly cheaper than the cost of acquiring a new one.
Don’t be one of the organizations who makes that critical mistake. Use our five tips for improving account management team success to get started investing in your organization today.
5 Ways to Improve Your Account Management Team
1. A Killer Training Program
You should be investing just as much time and money into your account management team training as you are in sales.
Stuff your program full of demo certifications, on-demand training modules, recorded roleplay, email critiques and access to an online knowledge library to make sure your reps have everything they need to kick ass on a daily basis.
Continued development will not only improve your account management team results, but it will also give your reps a reason to stay. By investing in their development and future, you’re showing them that they matter. And that kind of investment goes a long way in terms of employee retention.
2. Solid Measurement Tools
One simple way to measure the success of your account management team is to use a rating system like the Net Promoter Score (NPS). NPS gives you an idea how likely your customers would be to promote and/or repurchase your products.
NPS is an important gage for your customer’s overall experience. Did they like you enough to recommend your service or product to a friend? If not, your customer success team may need an overhaul.
Any score at an 8 or above is viewed as successful, whereas teams scoring consistently in the 6 range need improvement.
Without using a standardized measurement to check-in on customer satisfaction, you’ll have no idea exactly how well your account management team is performing in terms of the customer experience. NPS provides a unique insight into the inner workings of your team.
3. Sophisticated Client Tracking
Your account management team provides value to your customer by taking a deeper dive into their needs.
In order to be successful they need an accurate client history, somewhere to store information, and the ability to group customers based on certain communications or characteristics. Make it easy for your reps to focus on the customers, by giving them access and thorough training on a CRM system they can trust.
With access to the information and tracking they need, your customer success team will be able to forge a deeper bond with your client that the sales team can’t. Less pressure, longer timelines, and a trusted partner status will help keep your customers for the long term.
4. Sales Team Status
Way too often in organizations it’s all about sales. Sales teams get the credit, the recognition, and the rewards. Granted they are generating revenue, but so are account management teams.
Your account management team is likely responsible for upselling, cross-selling and ensuring a smooth renewal process. With a 60-70% chance of selling to an existing customer, these are opportunities your organization can’t miss out on.
To help make your customer success team effective, give them the same recognition as sales. They are a big part of what makes deals and relationships successful and they should be treated that way. Giving them an extra boost in the company will give them the confidence they need to take pride in their work and drive better results.
One of the best ways to help your account management team succeed is to give them more time to do their job.
Automate processes where you can, so your reps can spend more of their time dedicated to actual clients. With your CRM system in place, automating certain email templates and workflows among other things should be a top priority.
The more time your reps spend on upselling, cross-selling and building lasting client relationships the greater success your team will see. Don’t waste their time on daily activities that could be automated instead.