Account Management and Customer Relationship | Report

Added on - Sep 2019

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Relationship Management for
Account Managers
Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Information needed about account and competitors.........................................................1
1.2 Building trust with accounts.............................................................................................1
1.3 Expertise to improve productivity of account..................................................................2
1.4 how to reduce account’s financial burden........................................................................2
1.5 Improvement in quality of service provision....................................................................2
1.6 Maintenance of account loyalty to own organisation.......................................................2
TASK 2............................................................................................................................................3
2.1 Methods for developing a personal network....................................................................3
2.2 Importance of reciprocity and confidentiality..................................................................3
2.3 Methods for maintaining communication with contacts..................................................3
TASK 3............................................................................................................................................3
3.1 Evaluation of methods for researching of prospective customer organisations...............3
3.2 Methods for establishing rapports and own credentials with customer organisation.......4
3.3 Evaluation of strategic questions to identify issues in customer organisation.................4
3.4 Quantifying the most important issue and opportunity....................................................4
3.5 Evaluation of solution for customer organisation issue...................................................4
TASK 4............................................................................................................................................4
4.1 Importance and need of Stakeholder Analysis.................................................................4
4.2 Identification and analysis of needs and concerns of different stakeholders...................5
TASK 5............................................................................................................................................5
5.1 Concept of monitoring and control in customer relationship...........................................5
5.2 Organisational requirements relating to monitoring and control.....................................5
5.3 Methods of formal and informal feedback for monitoring key customer activities.........5
5.4 Identify and evaluate techniques to be used to analyse information obtained during
monitoring and control...........................................................................................................6
5.5 Identification of strengths and weaknesses of customer relationship..............................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7
INTRODUCTION
Account management is a process of managing client accounts in an effective manner. In
business language the customers of the organisations are considered as an account, a regular
customertransactondailybasiswhileoccasionalcustomertransactoccasionally.The
relationship with customers are made based on their importance to the firm, therefore proper
account management is required and the same can be managed only through professionalism of
accounts managers (Waller and Fawcett, 2013). The current report will discuss in detail various
aspect of account management and impact of customer relationship on accounts management of
business.
TASK 1
1.1 Information needed about account and competitors
There are various kinds of information that a sales accounts manager shall gather about
the customers or client of his organisation. The information can be obtained by segmenting
customers on the basis of needs of the organisation. What kind of customers the company
basically wants, whether middle class, high end customers etc. these information are collected to
know whether long term relationship can be build with client or not. Through this analysis the
capacity of client to pay for dues is ascertained and credit manager sets limit for each account
accordingly.
1.2 Building trust with accounts
Trust is the most important factor in building a good customer- business relationship. If
the customer will have necessary trust on the organisation, it will lead to better relationship.
Trust is built on various factors like the values that company and its employee’s follows, nature
of company in handling clients etc. Thus, in order to build a healthy customer relationship, the
manager should be positive in attitude, should be both trusting as well as trustworthy. These
characteristics makes a sales account manager and the organisation more trustworthy and thus
leads to formation of trust between customers and company (Ramchandani and Ghias, Novitaz
Inc, 2013).
1
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