How to manage a client portfolio in 5 steps?
Posted: Sat Dec 07, 2024 8:35 am
Depending on the size of your business and your market, you probably have different types of customers, and it's important to keep them engaged.
Having a solid customer base is a guarantee for the future of your company. The larger it is, the greater the prospects for long-term sustainability. A well-structured customer base is essential for optimising sales management.
A client portfolio is built little by little and with a lot of effort, dedication and, of course, sales. However, knowing how to manage the relationship with all these clients in the right way is a bigger challenge.
But how do you manage a client portfolio ethiopia email list correctly? To avoid any doubts, in this post we offer you useful advice on how to manage a client portfolio . Keep reading!
What is a customer portfolio?
Also called a customer portfolio, a customer portfolio is a record of potential customers and current customers. It is primarily used by B2B companies to help organize and develop a relationship with consumers.
The customer portfolio is usually associated with some type of technology, such as an ERP, CRM or a database that stores all of the following information:
Other information such as: customer service needs, billing information, possible additional sales.
All of this data represents opportunities for your business, and it will be used during customer management to prioritize some accounts (customers) over others. It could also help you think of new sales strategies, such as upselling , to increase revenue per customer.
Why is it important to manage your customer portfolio?
It will always be easier to convince one of your customers to make a repeat purchase (rather than to acquire new customers); one study found that increasing customer retention rates by 5% increases profits by 25% to 95%.
Good customer portfolio management will help you organize your sales better.
In addition, knowing the companies with which you have or have had a relationship helps you prioritize contact and personalize service to keep everyone happy. This can contribute to increasing your sales, as well as increasing your customers .
On the other hand, you can also discard clients who do not provide the expected profitability, making room for new ones.
Each step you take in the direction of customer management serves to refine processes, reduce costs and consolidate knowledge within the company.
Many companies strive to increase their customer base, without realizing that it is much easier and more profitable to have a more specific portfolio.
Customer Portfolio Analysis
All customers are important, but some are more important than others. Before you know how to manage a customer portfolio, it is important to analyze the profile of the customers who generate turnover in your business. Here's how you can create a plan to take advantage of your company's portfolio to its full potential.
Proper customer portfolio management does not consist of taking note of all prospects, but only of those who are truly suitable for the company.
Consider the impact they have on your business. This allows you to adapt your offer to the particularities of each potential client .
When analyzing your current clients or looking for new deals, always put the emphasis on the future of your company's business relationship with each client. Don't just look at current profits, ask yourself if there is potential for new business opportunities and if it is worth integrating them into your client portfolio.
How many customers do you want to have? Do you need to increase sales volume? Goals are great tools to challenge your team. Goal setting should be done based on performance over the past few months. That way, you will have more consistent data to create goals in line with the company's current scenario.
Each objective depends on the segment of your business, the audience you want to reach, among other factors. For this reason, it is important to analyze your client portfolio frequently and know every detail of your clients in order to make the best decisions.
Having a solid customer base is a guarantee for the future of your company. The larger it is, the greater the prospects for long-term sustainability. A well-structured customer base is essential for optimising sales management.
A client portfolio is built little by little and with a lot of effort, dedication and, of course, sales. However, knowing how to manage the relationship with all these clients in the right way is a bigger challenge.
But how do you manage a client portfolio ethiopia email list correctly? To avoid any doubts, in this post we offer you useful advice on how to manage a client portfolio . Keep reading!
What is a customer portfolio?
Also called a customer portfolio, a customer portfolio is a record of potential customers and current customers. It is primarily used by B2B companies to help organize and develop a relationship with consumers.
The customer portfolio is usually associated with some type of technology, such as an ERP, CRM or a database that stores all of the following information:
Other information such as: customer service needs, billing information, possible additional sales.
All of this data represents opportunities for your business, and it will be used during customer management to prioritize some accounts (customers) over others. It could also help you think of new sales strategies, such as upselling , to increase revenue per customer.
Why is it important to manage your customer portfolio?
It will always be easier to convince one of your customers to make a repeat purchase (rather than to acquire new customers); one study found that increasing customer retention rates by 5% increases profits by 25% to 95%.
Good customer portfolio management will help you organize your sales better.
In addition, knowing the companies with which you have or have had a relationship helps you prioritize contact and personalize service to keep everyone happy. This can contribute to increasing your sales, as well as increasing your customers .
On the other hand, you can also discard clients who do not provide the expected profitability, making room for new ones.
Each step you take in the direction of customer management serves to refine processes, reduce costs and consolidate knowledge within the company.
Many companies strive to increase their customer base, without realizing that it is much easier and more profitable to have a more specific portfolio.
Customer Portfolio Analysis
All customers are important, but some are more important than others. Before you know how to manage a customer portfolio, it is important to analyze the profile of the customers who generate turnover in your business. Here's how you can create a plan to take advantage of your company's portfolio to its full potential.
Proper customer portfolio management does not consist of taking note of all prospects, but only of those who are truly suitable for the company.
Consider the impact they have on your business. This allows you to adapt your offer to the particularities of each potential client .
When analyzing your current clients or looking for new deals, always put the emphasis on the future of your company's business relationship with each client. Don't just look at current profits, ask yourself if there is potential for new business opportunities and if it is worth integrating them into your client portfolio.
How many customers do you want to have? Do you need to increase sales volume? Goals are great tools to challenge your team. Goal setting should be done based on performance over the past few months. That way, you will have more consistent data to create goals in line with the company's current scenario.
Each objective depends on the segment of your business, the audience you want to reach, among other factors. For this reason, it is important to analyze your client portfolio frequently and know every detail of your clients in order to make the best decisions.