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Being a sales account manager must often feel like you’re on the dating circuit in New York City: You’re overseeing multiple accounts, each containing specific attributes and posing unique challenges.
A successful account manager should be available for all clients, but not too clingy. You want to be aware of what competitors can offer, but not let rivals dictate your next move. You might nail the first date, but it’s the post-sales process that needs firm consideration. Clients can be mercurial, so once you’ve identified the ideal profile, retention is key. So how do you avoid being ghosted, or, in account manager parlance, the dreaded churn?
Revenue Brew spoke with three professionals on what subtle signs of churn look like, what to do if you see them, and how to avoid them.
New leadership could chart a new course
Isabell Rashid is an account manager at end-to-end sales intelligence software company Apollo.io. She says changes in leadership are not a sure signal churn will happen, but it’s something to be cognizant of. Rashid says affirming value to a new hire is always a priority.
“Any time new leadership joins an organization, they obviously have their own perception in their mind on the processes that they use,” she said.
To avoid getting sidelined in a shake-up, Rashid uses internal technology that alerts her whenever there is a new hire on one of her accounts, which gives her the opportunity to reach out and affirm the value Apollo.io provides.
Sometimes the real churn is on the inside
Joe Fontana, VP of sales at sales coaching platform Dextego, agrees on the importance of account managers being proactive. But when it comes to churn, he says a lack of internal accountability is a major issue.
“I find quite often you have an account manager, you have somebody in customer success, you have a sales rep, and no one wants to take ownership of issues or challenges or problems,” Fontana said.
He also warns against treating clients in a transactional manner.
“A customer is a guy that walks into McDonald’s, buys a cheeseburger, and you may or may not see again; a client is somebody you have a relationship and a partnership with,” Fontana said.
He says churn is often preceded by a lack of essential communication from account managers around the client’s feelings and their problems or roadblocks.
“When the shit hits the fan, you need to pick up a phone. You can’t rely on a text; you can’t rely on a Slack. You need to pick up a phone and have three days of Slacks on a 30-minute phone call. That’s when you’re having conversations,” Fontana said.
Industry-specific indicators
Some attrition rates could be higher simply by virtue of a company’s industry. John Burkhalter is a risk management and insurance advisor at insurance brokerage Higginbotham. He says it’s crucial to keep an eye out for loss run reports, statements outlining a policyholder’s prior claims that are used by insurers to assess risk, and by policyholders to control risk. When Burkhalter sees a loss run, it suggests a client could be shopping for lower premiums or alternative plans elsewhere.
To help mitigate this, Burkhalter tries to anticipate client needs by enacting loss control policies or preparing for rates to rise.
“For example, if you have, let’s say, a bunch of apartment complexes that had some issues where a dog bite or something happened on your apartment complex, our loss control team is going out there to put in new pet policies,” Burkhalter told Revenue Brew. “We might see this in the market upcoming, but here’s what we’re doing—A, B, C, and D—to make sure that it’s not the case for you and that it’s a better outcome.”