40% of deals are at risk due to relationship turnover: How to get more visibility and better control of your book of business
Over the years I’ve consulted with small businesses that have to deal with this reality: their point of contact will change.
People retire, move on to other companies, get promoted, transfer to other departments or etc.
This was the case during a prospective business meeting I had with the CEO of a 30yr old company that had been trading on the history of what got them here: traditional word of mouth and past relationships, but that success was diminishing every day as changes in their client’s organizational management and leadership roles happen.
The result was declining revenue and the loss of potential sales.
The lack of a process approach to marketing had finally caught up with them.
My advice was to install a national account program of some sort where the goal is to streamline billing and other service factors to align with their clients. This would mitigate risk associated with changes in management, deepen relationships, position them as partners and create a lock-in effect.
#smallbusiness #business #ceo #marketing #changemanagment