Jonathan Farrington's Blog » The Value Of The Formal Account Review - The Diigo Meta page

• 27 Nov 07
  

  Nick

  • As we approach year end, this is an excellent time to take stock of your performance over the past eleven months and begin the planning procedures for 2008.

     

    When you begin constructing your business development strategy for next year you will, in all probability, include a contribution from existing clients/customers but how can you accurately forecast this?

     

    One very subtle way is to conduct formal account reviews, where you ask your clients for feedback on your performance year to date.

     

    I am always surprised how few companies do this because it is an initiative that customers welcome, why? Because it makes them feel important and cared about. 

  • So, Why Review?

     

    Obtaining continual feedback against a set of established criteria is vital if an organisation is to retain its existing top clients and seek to improve its standing and the quality of its service levels to them.

  • How Often?

     

    This will depend entirely on the importance of the account and revenue levels being achieved - or anticipated.

  • Assessing The Feedback You Receive:

     

    If the feedback you have been receiving to-date has not been useful, ask yourself the following questions:

     

    • Do I ask enough questions?

     

    • Do I ask the right questions?

     

    • Do I communicate effectively about why I am asking the questions?

     

    • Do I ask the right people?

     

    • Do I know how to use the data I collect?

     

    • Am organised to respond to the information?

     

    • Do I value and trust the information I receive?

  • What Do You Do With The Results?

     

    Collate & assess

     

    Communicate findings upwards & sideways

     

    Act on vital issues

     

    Feed back remedial actions

     

    Confirm satisfactory resolve

  • Remember,The Account Review Process:

     

    • Is a non-threatening meeting.

     

    • It is a fact finding session not a sales event in the short term. But

     

    • It is highly likely, that during this meeting you will uncover additional short, medium and long term opportunities.

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