Key account management in sales
When I was studying sales management as part of my marketing studies, I learnt of what is called key account management.
THE thinking behind this concept is to classify customers according to a certain criteria for the purpose of such things as customisation and also optimising sales revenues.
There is nothing wrong with understanding the value that each customer brings to your business. Which is why we even compute the customer lifetime value for each customer.
There are certain customers that have an over-blown notion of their value to certain businesses. This is why it’s very dangerous for a business to rely on such a few customers for its survival!A customer who brings nothing to a business is not worth thinking about!
You will be wasting your time thinking about that type of customer. The customer should bring cash to you!
I have personally served so many organisations to be able to know where to put effort or where not to put effort. Beware of customers that blow their importance out of proportion.
Customer experience goals are important because they help to ensure that a company is consistently providing a positive experience for its customers. By having specific goals, companies can track their progress and make necessary adjustments to improve the customer experience.
Additionally, setting goals can help to motivate employees and ensure that they are focused on providing a positive experience for customers.
Finally, customer experience goals can help to ensure that the company is meeting the needs and expectations of its customers which is essential for building loyalty and driving repeat business. Overall, customer experience goals are an important part of creating a successful and sustainable business.
If a company does not have customer experience goals, it is likely to struggle to provide a consistent and positive experience for its customers. Without clear goals, it can be difficult to measure progress and make improvements.
As a result, customer satisfaction may suffer leading to increased customer churn and lower revenues. Additionally, without goals, it can be challenging to motivate employees to focus on the customer experience.
Finally, without customer experience goals, it can be difficult to differentiate the company from its competitors and gain a competitive advantage. Ultimately, not having customer experience goals can have serious negative consequences for a company’s bottom line.
Customer experience goals can bring organisational competitiveness in several ways. First, by focusing on the customer experience, companies can improve their products and services making them more competitive in the marketplace.
Additionally, by providing a positive customer experience, companies can increase customer loyalty leading to repeat business and increased revenues.
Finally, by meeting or exceeding customer expectations, companies can improve their reputation and build trust with their customers. All of these factors can help to create a competitive advantage and drive success for the organisation. Lack of customer experience goals can indeed lead to loss of revenue.
When companies do not have clear goals for the customer experience, they may fail to invest in the necessary resources to deliver a positive experience. This can lead to customers having a negative experience which can result in lost sales and a decrease in repeat business.
Additionally, negative customer experiences can lead to negative word-of-mouth which can deter potential customers from doing business with the company.
In the long term, this can cause a significant decrease in revenue and affect the company’s ability to remain competitive.
In layman’s terms, customer experience is the overall impression that a customer has of a company. It is based on their interactions with the company from the initial contact to the purchase and beyond.
A positive customer experience is one that meets or exceeds a customer’s expectations.
It may involve factors such as ease of use, helpful customer service and overall satisfaction with the product or service.
A negative customer experience on the other hand is one that falls short of expectations and may even leave the customer feeling frustrated or angry.
It’s very important to note that customer service is a subset of customer experience. While customer experience encompasses all aspects of a customer’s interaction with a company, customer service refers specifically to the support provided to customers when they have questions or problems.
◆