Client base meaning
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And look carefully for customers with whom you have a relationship, but where business may have fallen off due to benign neglect or a lack of adequate service. These may have the potential to provide more business again in the future. The resources spent to keep these accounts might be better applied to building value for other customers.Īs you evaluate your better, more profitable accounts, look for those that were more productive in the past. Often these same customers demand value-added services they don’t want to pay for. When it comes to the less-productive accounts, sales leaders are sometimes surprised to discover how much it costs to keep customers who are not consistently providing good sales opportunities. Are some customers using resources that could be better spent on securing more profitable relationships? Are there customers with the potential to provide more business? And what is the status of your relationship with your loyal customers who offer a steady flow of good opportunities? Are they getting the attention and level of service they expect and deserve?
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Analyze the type and quality of business delivered by each account and assess the cost of sales compared to revenues. To strengthen ties with your best customers, start by making sure you know who those customers are. These resources can then be applied to create value for your best customers, which will make them resistant to even the most persuasive cost-cutting competitor.
Client base meaning free#
The goal is to first free up resources that may be tied up in unproductive accounts. The following discussion offers three effective strategies for strengthening your relationships with your most profitable customers. While there are a variety of potential answers to this question, most fail to get to the crux of the problem: a lack of understanding of how customers want to buy, and a subsequent failure to apply the right resources in the right accounts to ensure protection from predatory competition. In the face of relentless competitive pressure, sales leaders are looking for smart answers to an urgent question: How can we protect our customer base from erosion as competition intensifies? As a result, most sales organizations are pursuing new business-which often means taking advantage of competitors’ complacency or mistakes in providing service to customers. Sellers as well as buyers are taking stock of priorities as the economy continues to show weakness across most industries.