Shep Hyken once said, "Show value, create an experience, and always strive to exceed customer expectations."

With this quote, Hyken reminds us that your work isn't done once a sale closes.

As a company, it's important that you delight and retain your customers.

In fact, acquiring a new customer is five times more expensive than retaining an existing customer.

That's where your account managers and customer success team comes in.

Below, let's learn more about dedicated account managers. We'll review who they are, what they do, and why you need one.

Free Access: Strategic Account Planning Template 

Essentially, dedicated account managers are responsible for advocating for their customers and acting as their voice within your organization.

It's a dedicated account manager's job to know their customers inside and out, from their mission to their values.

With this role, customers have someone in an organization that they can contact directly if they have questions with their account.

This is an important position on your customer success team because it can actually benefit both the customers and your company.

With a dedicated account manager, your customers won't need to contact customer support staff with all their questions. Instead, their dedicated account manager will ensure all their needs are met.

Additionally, your team of dedicated account managers will have direct insight on your customers. You can learn more about their goals, motivations, and pain points.

Now, you might be wondering, "What are the duties of a dedicated account manager?"

Below, we've listed a few tasks a dedicated account manager might do in their day-to-day:

  • Schedule regular check-ins with their customers
  • Manage incoming requests and questions
  • Onboard new customers
  • Advocate for their customers
  • Perform renewals and upsells
  • Analyze customer data and deliver reports

Now that we know what a dedicated account manager does, let's review why you need one.

Why You Need a Dedicated Account Manager

1. Triage customer support requests.

One of the main reasons that a company should consider adding a dedicated account manager role is because they can help manage customer support requests from the most valuable customers.

For instance, when an important customer has a question, they're going to contact their dedicated account manager. This means they won't go through customer support channels.

With this process in place, your customer support team will be relieved from these requests, and your customers will be happier because they'll receive quicker answers to their questions.

Ultimately, you're more likely to delight and retain customers this way.

2. Keep your best customers happy.

Not to reiterate my point above, but having direct contact with a company makes customers feel important.

Whenever they need help with a billing invoice, want to renew a contract, or add products to their solution, your dedicated account manager will be there.

Providing ongoing support helps keep your customers happy.

3. Help customers use your product to its fullest potential.

Another reason you need dedicated account managers on your customer success team is that they can help current customers use your product to its fullest potential.

For example, if they're experiencing a problem and your company provides a solution, your dedicated account manager can cross sell another product.

Ultimately, this means that your dedicated account managers will act as expert consultants. They'll be able to address any pain points and provide creative solutions for your customers.

It's essential that a dedicated account manager provides comprehensive knowledge and solutions.

4. Foster customer loyalty.

When your customers are happy and feel like they have a voice in your company, they're more likely to be loyal to your brand in the future.

For example, if a customer is considering switching to another solution, they're more likely to discuss this with a dedicated account manager instead of churning without warning.

Customer loyalty is one of the main ways to reduce your churn rate and retain your customers.

5. Produce personal customer service.

Overall, dedicated account managers are meant to provide personal customer service. This is something that's important for many of your customers.

Having direct contact with your company is one of the most personal types of customer service you can offer.

With a dedicated account manager, your customers don't have to go through customer support channels and can reach out to someone they know and trust because they have a direct relationship with them.

6. Assist in customer growth.

When your customers succeed, you succeed. A dedicated account manager is helpful because they'll help your customers grow.

If your product plays a big role in a customer's success, they'll most likely become brand advocates, helping your brand awareness and reputation.

Ultimately, dedicated account managers should help your customers identify any problems, offer an innovative solution, and use their direct relationships to help both organizations grow.

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Originally published Jun 24, 2020 8:00:00 AM, updated July 01 2020

Topics:

Customer Onboarding