Picking up directly from last week, and the notion, however theoretical or real, that your sales organisation has mathematically, scientifically and defensibly drawn the “picket fence” around the low CV (current value) and PV (potential value) customers that do not reach break even to “pay” for minimum level face-to-face account management and visitation. As such, this cohort of the whole customer base is now syphoned off for an appropriate lower cost means on servicing and staying in touch. The classic modes include…….
• Direct mail and other forms of marketing communications
• Responsive inbound customer service team
• The above plus an outbound call function
• One opportunistic visit from the territory Sales Exec per annum
Whichever you choose, don’t forget to be clear on the objectives. Are you just conducting a PR/branding exercise? Are you just servicing their needs? Are you proactively staying in touch in a cost effective manner? Are you getting onto the front foot with the client should something change (in terms of their PV level)?
This latter question spotlights the criticality of keeping PV up to date on these “cellar dweller” customers. Should something change in their business and PV spikes, you want to know about that. The new PV may well push them beyond the PV boundary of the “picket fence”, thereby leading to a renewed business case (enough CV/PV to surpass lowest level account management break even cost) to reclassify for Account Management.
Please, keep this important point in mind as you weigh up your options re how you want to handle your cellar dwellers.