Venky Rao shares a one minute video about the details of client retention.
One of the most effective client retention strategies according to expert account manager Venky Rao is innovation and continuous improvement. This is particularly effective with accounts you have held for a few years. Have a look at the domain experience you already have so you can determine process improvements and innovative ideas. Rao provides an example of a former colleague coming up with an upsell idea she had that only cost the company a few thousand dollars, but delivered the opportunity for the company to generate additional revenue in the millions. Rao’s colleague looked at what the account truly needed and made suggestions based on that. The ideas may have seemed obvious, but the innovation caused the VPs to sign off on it immediately and it launched from there.
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