We’ve all experienced the disappointment in learning that one of our Top Ten Accounts is switching to a competitor. There is a practical way to avoid key customer churn. First, you must understand that you need to show your customers what you do to support them. Meet with your client’s decision-makers annually for a comprehensive review of ongoing activities that you execute on their behalf. I call this a Customer 360 Meeting.
Three key meeting components
A 360 Meeting should be held annually and include these three key components:
- Account Support Activity. This gives the customer details on the time and effort you have invested to keep their business running smoothly.
- Sales History. Be transparent with your sales history. Openly review the last two years of sales.
- New Action Plan. Developing a new action plan is your opportunity to collaborate with the customer on growing their business using your consultative abilities.
A strategic investment
Customer 360 Meetings help retain customers and represent a strategic investment in your most valuable relationships. In today’s competitive marketplace, retaining key accounts is just as important as acquiring new ones—and often more profitable.
Use AI to compile comprehensive account activity data. Then be transparent in its presentation so that you can collaborate with your customers on future growth strategies. This way, you can transform routine account management into strategic partnership building. Your customers will see and appreciate the extraordinary effort you invest in their success.
Show the full picture
The question isn’t whether you can afford to implement Customer 360 Meetings—it’s whether you can afford not to. In my 50+ years of sales management experience, I’ve watched too many “secure” relationships disappear to competitors simply because we failed to show customers the value we were consistently delivering.
Lastly, don’t let your best customers become someone else’s success story. Show them the full picture, and they’ll never want to look elsewhere.
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