Who is Developing the Contact Relationship?

Who is Developing the Contact Relationship?

SOEE what’s new...

Defining and managing Account Ownership is the first step to identifying who “owns” the client, partner, or prospect relationship. Once account ownership is established, the next step is nurturing and developing Contact Relationships. Organizing account and contact terminology will further enhance internal communication and support tactical planning.

Define Contact Responsibilities and Roles:

Customer types (circle)

Contact Type: Prospect, Client, Partner, or Combination

Call Center (circle)

Contact Role: Align roles with Internal Sales, Marketing, and Business Strategy

Contact Dept

Contact Department: Identification of contact department or job function

Contact Ownership icon (circle)2

Contact Owner: Responsible for new sales, cross-selling, upselling, client retention

As employers strengthen contact relationships from the initial lead, through contracting to revenue recognition, managing the contact “hand-off” and ongoing relationship is key to long-term success.

SOEE what’s the solution...

As contacts move from prospect to client or strategic partner, relationship management becomes a critical component to revenue retention and growth. Maintaining strong contact relationships further assists the referral and reference process, to support additional sales opportunities.

Leveraging enabling technology allows employers to maintain process and data accuracy on internal Account and Contact Owners. Analytics on who “owns” relationships can be used to report on Key Performance Indicators (KPI) related to strategic goals and initiatives.

Establishing metrics and targets related to new sales, cross sell penetration, client retention, and client churn, at the individual level, allows employers to evaluate and measure team performance. This data can also be used to identify internal employees that need additional training or professional development.

In some instances, the data may further validate the need for employee change or transition.

SOEE what's the value...

Creating trust and adding value through unique, differentiated solutions strengthens contact relationships. By providing a consultative approach throughout the sales cycle, individuals can develop genuine relationships and help clients, prospects, and partners solve complex industry challenges.

When clients, partners, and prospects become advocates, employers can further leverage these relationships to develop Advisory Boards to enhance current solutions and deepen the contact alliance.

Orchestrating and monitoring how account and contact relationships are nurtured and managed requires thoughtful process design and data management to deliver segmentation and performance insights.