Protect your Good Accounts from the Competition
The article is about account management and explains a question : Because of the slow down in my market, my competitors are trying to gain business anywhere they can. They are more active in my good accounts than ever before. How can I protect my good accounts from the competition? This is a major threat to the business. The Pareto Principle, also known as the 80/20 rule, dictates that for most salespeople, 20 percent of their customers produce 80 percent of their revenue. If that is true, losing one of the good accounts to the competition can be devastating to the business. But losing a good account impacts the business in additional negative ways. The individuals within the good accounts are typically those people who provide with special insight into what the competition is doing and what is happening in the market. Lose one of those good accounts, and lose some of that special insight. The good accounts are the first places to take the new products and services. They provide a ready acceptance and honest feedback for the new offerings.