3 Markers for Change and 4 on How to Do It
Account Based Marketing (ABM) became popular even when –or especially because of- a difficult economy demanding the most efficiency from sales and marketing departments. But the ABM protocol –which essentially calls for companies to pare down their client list to just the most profitable ones- makes sense even in a red-hot economy, as the goal of efficiency for your sales efforts is still extremely helpful so that your sales and support staff do not get overwhelmed.
But, how do you decide which of your clients to cut loose? There are three good metrics.
Start with the Obvious
If you start hearing about a client picking another vendor for even odd, assorted and manini projects, this account should be put into consideration for the Adios-Thanks-for-the-Memories File.
Don’t Whistle Past the Graveyard
A re-organization within even the most loyal client doesn’t always spell doom, but the odds are increased significantly. Especially if there’s a new procurement officer from outside the company. Beware, and be ready to be proactive.
End With the Obvious
If the ROI and mutual goals for either side are not being met, it’s time for a change.
When the decision is made, do it person, but also have it in writing, and let these 4 edicts direct your communication:
- Politely explain the situation and circumstances
- Focus on their interests
- Set expectations as to what to expect next
- Be professional. Circumstances are always changing, and doors will always be ajar when you proceed with respectful candor and professionalism.
And above all,
Good luck. As Jimmy Dean once noted, “I cannot change the wind, but I can adjust my sails to always reach my destination.”
We’re still not sure if it’s the actor or the guy who made sausage.