Seven Best Practices for Account Management

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While the challenges of customer account management can be a liability, it's possible to overcome them with the right mindset and the right tools and processes in place. We'll now look at some best practices that will help you avoid the fallout from these types of challenges.

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As an account manager, your job is not only to maintain a good relationship with a client , but also to actively seek to improve it. Therefore, client account management can take on different aspects depending on several factors, such as your industry, the level of your relationship with the client, and the services you provide. However, there are certain best practices you can adopt to improve the customer experience regardless of the type of relationship you have with your clients.

1. Make strategic choices
If you want your account management system to panama phone number lead be successful, you won't be able to turn just any customer into a strategic account. Instead, find a way to determine a simple threshold that shows which customers deserve an extra pair of eyes and ears. For example, you can select user accounts with the highest average recurring revenue (RMR) or customer accounts that have the potential to improve their RMR. Additionally, strategic account management can also be an additional paid service level to justify and offset the additional costs.

2. Lean on technology
Create custom account management workflows with Monday CRM
Creating a culture that fosters customer success is largely down to the tools your business uses. For example, top CRM software like Monday CRM offers the flexibility to create a customized account management workflow that can be integrated across all departments of your business. Account management software allows you to store all customer data and track all customer tasks and communications. Additionally, you'll have constant access to information that will help you maintain and grow strong customer relationships.

3. Keep account growth in mind
Of course, as an account manager, customer retention is always the number one priority. But account growth is number two. A strategic account manager knows how to keep their customers engaged. For example, they know exactly which features or products they've purchased and how much room they have for growth. To keep track of all this, you need consistent reporting. And a platform like Monday CRM can help you keep your growth goals top of mind at all times with detailed reports and dashboards.