Organizations with a high client retention rate know the value of Account Management. Essentially, this is the process of creating and maintaining a strong working rapport with each client. Often referred to as Client Servicing, it is about understanding the needs and desires of the client, and moving to meet those needs in a proactive manner.

Exceptional Account Management is about the extra effort you put in to convert the client and company relationship into a strong mutually beneficial partnership. Clients often turn to you not just for the services you offer but the added value you bring to them. One of the most important keys that form the basis for effective account management is providing the client with people who know the account well and are able to be of assistance whenever needed. This means looking beyond the obvious. Account Managers educate the entire workforce and inculcate about of the goals of the client, the conditions that the client works within, and what expectations must be met for a healthy relationship.

So, organizations need to be extremely careful while designating an Account Manager. Organizations need to think about what the role requires and then pick the right person for the role. A broad range of skills is required to be an Account Manager which includes consultative, planning, financial, interpersonal and influencing skills. Ideally, this process is all about listening to the client, getting to know the client, and genuinely seeking to be there for the client in every possible manner. This approach builds a strong relationship that withstands provocative offers from competitors, creates opportunities for upselling, and also leads to excellent word of mouth for the organization.

Account Management have a profound effect on the performance of the organization. The treatment makes the difference between a loyal returning client who will, through conversations and story-telling, become an ambassador for your organization and a lost opportunity or negative influence for your company, somebody more likely to use your competitor’s services in the future. It is all about making a difference.

What do you think? Your thoughts…

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(Contributed by: Ambili K Pillai, Group Manager – Client Success, Managed Services, Kenscio Digital)