Happy New Year! Hopefully, you enjoyed the time off but are more than ready to start 2018 off on the right foot. If your goal for 2018 is to build better relationships with your accounts, you need to ensure that your company is equipped with the right tools, so both you and your accounts have a successful and mutually-beneficial 2018! Here are a few of our tips to improve your relationships and how Kapta can help you achieve your business goals in 2018.
To Grow Your Business, You Must First Grow Relationships
The age-old saying of “it’s cheaper to sell to an existing customer than a new one” has never been truer than it is in 2018. In industries that are quickly becoming overcrowded, every little thing matters when it comes to the relationships you have with your customers—especially key accounts.
For years, account managers were told to simply do the bare minimum it took to ensure that the account didn’t leave. However, anything above and beyond was thought of as a waste of time and energy. In the 21st century, we believe that it’s time to abandon this age-old trope and to instead shift focus towards nourishing and growing relationships instead of just trying to maintain them.
Customer Retention Equals More Profit
In fact, this strategy of improving customer relationships has been shown to work as companies around the world that embrace relationship development in efforts to retain more customers builds profitability. Companies that simply increase customer retention by 5% could potentially increase profit by 25%. No matter what you sell, a 25% increase in profit goes a long way. To achieve this kind of improvement is no small feat, and to reap the benefits of relationship building, you must genuinely want to see your accounts succeed in their business through your services and products.
No faking it!
You might already know the importance of relationship building and strive every single day to keep your clients happy and successful. That’s why you have a CRM software. It manages all of the relationships and keeps everything organized, right? Well, traditional CRM might have worked for a while, but its problems are becoming increasingly apparent as technology and businesses advance further.
The Problem with Traditional CRMs
While no software platform is 100% perfect, most of the enterprise CRM platforms on the market right now are outdated and not equipped to handle the changing competitive landscape across many industries. They were great when first brought to the market and helped optimize the way that businesses interact with and manage accounts, however, with recent technological advancements and new business standards, they will soon be obsolete, and if your company continues to rely on under-equipped platforms, your relationships could suffer.
You Have No Real Insight
You CRM platform might have the contact details of clients and when you last conducted a QBR, but other than that, you’re left in the dark when it comes to the account’s long-term goals, their current challenges, and what products they need to improve their success. To genuinely show that your company is interested in providing the client with tools for success you must be able to accurately track and monitor the client’s changing goals and expectations.
It’s Hard to Use
Poor user interfaces plague the tech industry, and many enterprise tools are designed more for functionality with little emphasis on the user experience. Because these programs can be challenging to use and carry a steep learning curve for new account managers, many just forgo the entire system and choose to go the old-fashioned route. This might work with only a couple of accounts, but when dealing with multiple high-level accounts, organization is key to success. You want a platform that account managers will actually want to use and see value in rather than just going through the steps because they’re required.
They Don’t Provide Long-Term Strategies
Beyond what’s happening at the moment, traditional CRMs aren’t optimal for planning long-term strategies. You can’t accurately track the client’s goals, experiences, and history with the client. Without this insight, even the most detailed note-taking account managers will have a hard time accurately keeping track of each client’s goals for the future and will be caught off guard during the next QBR.
What Makes Kapta Different
Kapta was built specifically to nourish and grow relationships with accounts. Inside the platform are tools that you would otherwise have to use a separate software package to access. Kapta is essentially the Swiss army knife of account management platforms. With Kapta you can do more than just track when you talked to a client last or the contact details of the gatekeeper.
Here are a few of the standout features that make Kapta an asset for any organization:
Voice of Customer Insights
Kapta’s built-in Voice of Customer (VOC) tool allows account managers to sort and rank all of the contacts for an individual account. This does wonders for the organization of an account to ensure that account managers are speaking to the right people and asking the questions that they can answer.
Additionally, the VOC tool provides a strategic roadmap for success in each interview with a client. You’ll be able to get down to the root of their problems while also suggesting new tools clients can use to help optimize their business and encourage success.
Strategic Account Plans
With Kapta’s powerful account planning templates, you can consistently exceed even your pickiest client’s expectations. By better understanding your client’s goals and history with your business you can better predict what services they will need next and develop a game plan for each of your meetings. This way, they walk away from a meeting feeling like you are consistently working to improve the relationship and you can walk away knowing that the relationship is safe and sound for the future.
Give Kapta a Try In 2018
With the start of a new year, there is no better time than now to try a new account management platform for your business. Your account managers will love using it just as much as the CEO loves seeing the boost in conversions and sales. Contact us today to find out more about the platform and even request a free demo.