Wednesday, October 10, 2012

Account Retention - Part 1

Assessing account potential naturally leads to assessing account retention. Account retention is based on customer happiness and happiness falls on a spectrum:

Unhappy --- Dissatisfied --- Satisfied --- Loyal

Unhappy customers actively shop for other options, so watch out for these warning signs.
  • Fewer quotes come in and total volume decreases
  • Access to the customer base decreases
  • The flow of information about future projects dries up, and the salesperson is unaware of the customer's long-term plans
  • The customer stops buying certain services altogether
More on account retention on Friday.

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