How to grow your existing client accounts
In Branded3 Client Services Team, one of our main goals is to ensure our clients are continually growing. This isn’t necessarily growth in terms of agency billables, but rather how we can offer additional value to our clients, resulting in increased sales, leads, and so on.
Of course, when offering additional value to clients it may be for services that they don’t currently employ, which can positively impact agency revenue. However, as with anything, unless you have a reason (ROI) for your client to part with extra budget, you’re unlikely to get very far. For this reason, here are our top tips for growing your existing accounts.
- Know your client’s account
Before you even consider looking to grow an account, it’s imperative that you know your client. Do your research, look for areas of improvement and come up with a solution. It’s also important to know your client’s priorities. Are they looking to grow this year, or are they looking maintain and cut costs?
Understanding your client’s priorities will allow for a better understanding of where you can add value. As an extra benefit, if a client can’t part with additional budget, developing your understanding of your client’s account will help ensure existing budget is being used to the best effect, which may in turn result in future account growth opportunities.
- Hold regular review meetings
You’ll be talking performance, successes, challenges, and plans for the future, all of which provides a perfect forum for discussing account growth.
As highlighted in How to become a successful Account Manager, understanding a client and their business needs will enable you to know what they should invest in and why. You already know their business challenges and their plans for the upcoming months, so go into these meetings with an idea of how to nurse their headaches and make their lives easier (and more profitable). They’ll thank you for it, and you’ll be popular with your boss for bringing in further business.
That said, don’t look to pitch during the review meetings; save this for a separate time when the focus can be on the proposed investment. Next step, set up a separate meeting and…
- Tell them what they’ll get
You’re telling your customer to invest, so tell them why and what they’ll get for their investment. Account growth should be mutually beneficial, with your client benefitting from increased performance (traffic, leads, etc.), with your agency being rewarded for providing this service.
Before pitching for additional investment, make sure you have a compelling case with ROI figures and the cost of the investment. Approach with confidence and clarity in your reasoning: you are telling them why they should grow their account, so you must believe it’s the right thing to do.
- Demonstrate past successes
If you already have a customer who’s benefitted from an additional investment, show it off. If you can say: “Client A got an additional B, with C investment”, it’s clear that you’re not just doing your best Wolf of Wall Street impression, but that you’ve got real-life experience of increasing ROI and that what your proposing actually works.
While adding new accounts is important to agency growth, growing your existing accounts is a fantastic way of providing additional value to your clients and to your agency.
For further tips and tricks on client growth and retention, be sure to check out the client services section of our blog.