23:07
Faizan
Every business owner or executive with P&L responsibility covets customer loyalty from high-margin accounts. But who is each customer loyal to: your company or your employee? You might be at risk of losing loyal customers when an account manager leaves or moves to more challenging accounts. In this case study, a regional manager wants the answer to a question he can't risk posing himself: "If I give you a new account manager, will you renew your contract with us?" When a third-party interviewer asks what sounds like an innocent, spontaneous question during a feedback interview, the regional manager gets his answer.
This is one in a series of case studies highlighting "Key Questions and Course-correcting Quotes" taken from 20 years of B2B customer insight projects. All names are fictitious, but the situations are real. Case studies paint a picture of how important it is to learn what your B2B customers think -- but aren't saying. These are real-world examples of how soliciting and acting on customer feedback has helped companies hold onto customers longer, grow relationships bigger and pick up new business faster.
Case study: Renewal at Risk?
Key Question: "Is your relationship with the vendor or with your account manager?"
Course-correcting Quote:
CXO: "I would have to say this relationship is with the vendor. If you were to ask me what would happen if my account manager left, a significant part of the support I get from her company would be lost from a knowledge-base standpoint. However, I'd trust them to send me someone with the same skills."
Follow-up question: "Would you rather see someone from the existing team promoted or a seasoned person from a similar account transferred in?"
CXO: "I'd prefer someone from a similar account. The skill set is more important than the account knowledge. If they've done the job successfully somewhere else, they should be able to do it here."
My Client's Quandary:
The account manager being spoken of here had worked wonders on this account. Her regional manager wanted to move her so she could work her magic on a failing account, but he didn't know where this customer's loyalties lay. The contract was up for renewal in 18 months.
My quandary was, the regional manager didn't want the customer to know a transfer was being considered. Once the customer "voluntarily speculated" on the possibility of the account manager leaving, I could probe further. After all, it was a topic the customer raised. (And this wasn't a matter of luck: I broached the subject by first asking about his loyalty to vendors of other services. When I asked, "In this case, is your relationship with the vendor or with your account manager?" the context obscured the importance of the question.)
This is one in a series of case studies highlighting "Key Questions and Course-correcting Quotes" taken from 20 years of B2B customer insight projects. All names are fictitious, but the situations are real. Case studies paint a picture of how important it is to learn what your B2B customers think -- but aren't saying. These are real-world examples of how soliciting and acting on customer feedback has helped companies hold onto customers longer, grow relationships bigger and pick up new business faster.
Case study: Renewal at Risk?
Key Question: "Is your relationship with the vendor or with your account manager?"
Course-correcting Quote:
CXO: "I would have to say this relationship is with the vendor. If you were to ask me what would happen if my account manager left, a significant part of the support I get from her company would be lost from a knowledge-base standpoint. However, I'd trust them to send me someone with the same skills."
Follow-up question: "Would you rather see someone from the existing team promoted or a seasoned person from a similar account transferred in?"
CXO: "I'd prefer someone from a similar account. The skill set is more important than the account knowledge. If they've done the job successfully somewhere else, they should be able to do it here."
My Client's Quandary:
The account manager being spoken of here had worked wonders on this account. Her regional manager wanted to move her so she could work her magic on a failing account, but he didn't know where this customer's loyalties lay. The contract was up for renewal in 18 months.
My quandary was, the regional manager didn't want the customer to know a transfer was being considered. Once the customer "voluntarily speculated" on the possibility of the account manager leaving, I could probe further. After all, it was a topic the customer raised. (And this wasn't a matter of luck: I broached the subject by first asking about his loyalty to vendors of other services. When I asked, "In this case, is your relationship with the vendor or with your account manager?" the context obscured the importance of the question.)
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