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Sales vs. Account Management: What's the Difference?? While sales and account management are often used interchangeably, they serve distinct roles within a business: Sales, is all about acquiring new clients. The focus is on prospecting, pitching, and closing deals. It’s a more transactional role, aimed at driving immediate revenue and growth. Account Management, on the other hand, focuses on nurturing relationships with existing clients. The goal is retention, up-selling, and ensuring long-term client satisfaction. It’s a more relational role, built on trust and long-term growth. Both are critical, but they work at different stages of the customer journey. Understanding the distinction can help you better align your teams and strategies for success! #Sales #AccountManagement #CustomerSuccess #BusinessGrowth #ClientRelationships

To Sell More, Focus on Existing Customers! - By Rick Reynolds, Harvard Business Review. trengthening your relationship with your existing customer base is one of the best ways to increase sales. Your company’s account management and operating teams play critical roles in making this happen. If they’re not performing at their peak, the door opens for competitors to step in. Seeking new sales without strong account management and operating teams is like pouring water into a bucket with a hole in it. Identifying and fixing the holes — the gaps in customer satisfaction — can help your company retain existing accounts and increase new sales. Research from the AskForensics Knowledgebase reveals that there are four gaps business-to-business companies need to address to achieve best-in-class performance. These gaps were identified through in-depth, qualitative sales and account forensics interviews with prospect decision makers in accounts generating at least $15 million in contract revenue for Fortune 1000 companies: Improve Training for Frontline Staff Employees who have daily interaction with customers often leave more of an impression than your sales team. As a result, your frontline teams are vital to expanding and retaining existing customers. These teams need to be trained in client protocol and procedures, your company’s internal processes, and how to effectively interact with on-site client stakeholders. Provide Timely Responses Being responsive to your customers’ concerns is a clear indicator of your company’s desire to meet and exceed expectations. If there are deficiencies in how effectively and quickly you respond, your customers will question your commitment. This is true at all levels of your company, not just for the teams in direct contact with customers. Being responsive, though, is only part of the equation. The other is to communicate what has been done to address the customer’s need or problem. Offer More Proactive Ideas As a service or product supplier, customers look to you as the expert. They rely on you to perform important tasks they cannot do themselves. This places more emphasis on you, as the provider, to be proactive. When you are not proactive, value erodes. Understand Requirements This is account management 101, right? Well, it doesn’t always happen. In every account there are needs that are not being adequately addressed. Even if they are peripheral needs, not addressing them leaves you vulnerable. https://lnkd.in/ewXsnzNt

One of the most effective strategies for growth is... can you guess? One hint It is not through new logos. The most effective strategy for growth is ???????????????????? the potential of your ?????????????? ???????????????? ????????. This is why account management teams are a vital component in the revenue generation bowtie. Here are 6 tips on how you can start identifying upsell and cross-sell opportunities: ???????????????????? ???????? ????????????: Continuously update your knowledge about your clients' needs, challenges, and goals. ???????????? ?????????????????? ???????????????? ????????????????: Use org charts, routine Voice of Customer (VOC) questions, and strategically thought-provoking queries to unlock new insights and understand ongoing changes within the client organization. ?????????????? ?????????????? ??????????????: Establish a regular cadence for account reviews to stay aligned with your client’s evolving needs and spot new opportunities. ???????????? ???????????????? ??????????????????????????: Encourage sharing and communication within your team to maintain a comprehensive, 360-degree view of the client relationships. ?????????? ?????????????? ??????????????????: Keep up with your product roadmap and continuously educate yourself about your service offerings to better identify where upgrades or additional features could add value. ?????????????? ?????? ?????????? ??????????????????: Create networking opportunities for your clients and share customer success stories to showcase potential benefits and encourage further engagement. Account Management teams are in a prime position to drive significant business growth through effective cross-selling and upselling, turning single-point transactions into lasting, lucrative account relationships. Want to see how you can streamline this process and identify opportunities more effectively? Check out our tools and schedule a demo at Kapta. Let’s push the boundaries of growth together! ???? #KeyAccountManagement #CrossSelling #Upselling #CustomerRetention #BusinessGrowth #SalesStrategy #KAM #SAM #Accountmanagement

?????? ?????? ?? ???????????? ???? ?????????? ?? ?????????? ???????????????? ?????? ???????????? ?????? ??????????????! ?? ? ? Why is that some companies have a retention of 20% while others have 95%. The answer lies in one or multiple reasons. Dissatisfied with the service, no engagement, Agreement copy is lost, no resources or process to manage renewal, pricing, complex T&Cs and so on.? ? Acquiring a new customer can be 5 to 25 times more expensive than holding on to an existing one. ?? Having the right customer engagement and retention strategy is absolutely critical for a business, else you will end up losing customers, drop in revenue and increase in cost of sales.??? ? With my extensive experience in managing large accounts and contract renewals, one thing that really strikes out is the success I have had in managing and growing large?enterprise/strategic accounts. Here are my strategies on improving customer retention and improving contract renewal rates:? ? ? ?? Engage early?– Start the contract renewal process early.? ? ?? Ongoing Customer Engagement?- Customer retention begins from the time the customer is on boarded and it is an ongoing process. ? ?? Review the pricing?-?If you are not earning enough margin, please let the customer go or initiate price increase discussions? ? ?? Know the process?- Get clarity on customers processes and stakeholders involved. Being the best friend of procurement teams is absolutely important, and what is more important is that you make their life easier.? ? ?? Solid Account Management?–?Regular?engaement?with the customer, follow up meetings, follow up actions done in time, engagement with various stakeholders. It all percolates when you have a robust Account Plan for each customer. #sales #b2b #customerretention #salespundit ? --------------------------------------------------- Hi I am Dipti, I help businesses to grow their revenue and reduce their sales costs by fixing their sales processes and upskilling teams. DM me for a free review of you Customer Retention and Renewals process. You may have weak tap and an easy fix will help you save tons of $$.

The Key to Long-Term Success in Sales: It’s More Than Just a Great Product Having a fantastic product is the best thing that can happen to any tech sales person, especially when your goal extends beyond just closing deals to retaining clients for the long haul. But the journey doesn’t stop at having an exceptional product or closing the deal. The internal processes within your sales unit and across other departments are equally crucial. Ask Yourself: - How does your company manage the flow from closing a deal to handing it over to the success team? - How efficient is your support team in terms of accessibility, response rate, and resolution time? Ensuring these processes are seamless and effective is essential for maintaining client satisfaction and loyalty. While it’s vital to continually improve your product, never neglect the importance of refining your internal workflows. Remember, a great product can close customers, but efficient processes and exceptional support will keep them active.? #TechSales #CustomerSuccess #ProcessImprovement #SalesLeadership #CustomerRetention

Account Management: Asking the right questions: What Are Your Clients' Problems? These are the first set of questions I ask myself when I’m talking with a new client: 1 What are their true problems? One of our clients in the tech space was struggling with slow lead conversion. They thought their problem was "a lack of leads," but after diving deeper, we realized it was their sales process, not lead volume, that needed optimization. By asking the right questions, we saved them time and resources, and they saw a 30% improvement in conversions. 2 Whats the repeated conversation they are having in their head about their problems? We had a client in retail who was worried about customer churn. On the surface, it seemed like they needed better customer service, but after an in-depth discussion, we discovered the real issue was inconsistent product availability. By aligning our solutions with their true pain point, we were able to help them reduce churn by 15%. 3 Which of our company’s core competencies are aligned with those issues? A small manufacturer came to us for help with their marketing, but their true issue was a lack of process automation. Our expertise in workflow automation allowed us to completely revamp their system, freeing up 25% of their team's time for more critical tasks. 4 Where are we best positioned to understand and leverage our strengths? One of our clients was trying to expand into new markets, but they lacked localized insight. With our expertise in market expansion, we not only provided data but also helped create partnerships that facilitated their smooth entry into 3 new regions, driving a 40% increase in their market share. When you align your strengths with your clients' deepest challenges, you move from being just a vendor to becoming a true partner in their success. That’s the ultimate goal. #ClientSuccess #ProblemSolving #CoreCompetencies #BusinessStrategy #ValueCreation

Attention Sales, Customer Success, and Account Management teams! Building strong first impressions and chemistry can boost your chances of closing deals and foster long-term relationships that drive lasting success by 100% This SmartBeep commercial illustrates very well how important first impressions are :-) #Sales #SalesSuccess #CustomerExperience #AccountManagement #FirstImpressions #RelationshipBuilding #SalesTips

I was recently talking to a former colleague who asked, "What’s the secret to avoiding customer escalations in IT sales?" Funny enough, the answer is simpler than it seems—and no, it’s not magic! It’s all about preventing the fire before it starts. Here’s how to avoid escalations and build lasting client bonds: Don’t assume your client knows everything. Lay out project details, timelines, and possible bumps. Someone once told me their project got derailed because the timeline was "assumed." Ouch! Silence isn’t golden in sales. Regular touchpoints can be the difference between a happy client and one that’s frustrated. You’re not selling a product or service; you’re solving a problem. Get to the heart of what they need. Sales isn’t about pushing—it’s about partnering. What’s your favorite way to build lasting client relationships? #ITSales #ClientSuccess #CommunicationInSales

8 rapid-fire account management strategies to save for your Q1 planning ?? Account retention is at the heart of what we call?earned growth ?? While too many businesses focus on buying growth through customer acquisition, successful account management should aim to?earn?growth through retention, upsells, and customer referrals. By building an account management strategy around earned growth, you can double your customer lifetime value and reduce acquisition costs — not bad! Here's how to get started: ?? Listen to your customers and collect accurate data regularly ?? Focus on the drivers behind the Net Promoter Score (NPS) ?? Engage your accounts at every single level of the organization ?? Don't ignore lack of signal! AKA customers that don't respond to surveys ?? Follow up on all feedback ?? Seize upsell opportunities to grow customer accounts ?? Activate promoters to win referrals ?? Tie NPS to revenue to identify high-value accounts

?? Turn Key Account Management Into Your Revenue Engine What is Account Management? It's about driving revenue growth through existing customers. Here's why top organizations are revolutionizing their approach to strategic accounts: Beyond the Transaction: Customers aren't looking for vendors – they're seeking strategic partners who understand their business and fuel their growth. This requires a fundamental shift in how we approach these relationships. Strategic Value Creation: Successful account managers don't just chase the customer requests; they architect long-term growth strategies that benefit both parties. Regular engagement and deep customer understanding aren't optional – they're essential. Competitive Advantage Through Partnership: In today's fierce market, maintaining customer loyalty means becoming indispensable. By developing customer-centric strategies and aligning with the customers goals, you transform from supplier to strategic advisor. This improves retention and LCV. Want to empower your account teams to deliver more revenue? Start by changing your mindset and providing technology to support it. Account Management isn't an extension of sales – it's a distinct discipline that turns post-sale customer service into measurable growth opportunities. #AccountManagement #CustomerSuccess #Revenue #BusinessGrowth #StrategicPartnerships