One of the most effective sales trigger events reps would be wise to monitor is dissatisfaction with the current provider. If a customer isn’t pleased with what they’re getting, they’re much more likely to take a meeting with a rival company and start evaluating their replacement options.
This is great news if you work for the competing vendor. Not so great if you work for the incumbent.
The sales process doesn’t end with a signed contract. To retain and grow their accounts, salespeople must continuously tend to and nurture their relationships. Often when the rep attention wanes, so too do the customer’s positive feelings.
AskForensics’ recently released 2015 Sales Analysis report digs into the reasons customers are unhappy with their current providers, and how vendors fall below clients’ expectations. Of 114 accounts studied, a shocking 76% were vulnerable and 13% damaged. A mere 10% were classified as strong. Ouch.
But the data also showed that the customer’s happiness is almost entirely within the rep’s power. The number one reason customers became disenchanted with their providers was poor account support, followed by lackluster service quality. On the other hand, outstanding account support was named the leading way vendors exceeded buyer expectations.
If you’d like to hang onto your customers, put some extra care into account management. And if you’re tempted to ignore customers to focus on closing new deals, remember that happy clients generate more happy clients through positive recommendations and referrals.