By Lisa Rose — The Brooks Group
Whether your organization has a dedicated Account Management team, or your salespeople are in charge of managing their own accounts, it’s important to establish account management KPIs to measure performance and effectiveness.
Put simply, strategic account management is all about responsiveness, problem-solving, customer satisfaction, and building long-term relationships that lead to additional revenue.
If these areas are well maintained, your sales team will be able to dig deeper into existing key accounts, increase customer retention, and maximize the revenue potential in each account.Let’s look at the best way to set up KPIs for account managers or sales professionalsYour organization’s account management efforts should be focused on:
- Retaining customers
- Strengthening relationships
- Growing revenue
Keeping these larger goals in mind, you should identify the specific, measurable objectives you want to achieve in each area. Those objectives will help you decide which metrics make the most sense for your team to track.
Setting up goals and metrics will help each team member know where to focus, and they’ll be prepared when it’s time for their performance appraisal.