Thoughtful Thursdays – Do you conduct customer reviews?
Regular customer reviews are a part of a good sales management plan, especially with key accounts.
Today’s Thoughtful Thursdays sales topic is about the value of conducting customer reviews and the importance of sharing the information with them.
You can be sure that if you are a valued major supplier, your customer will be reviewing your company’s performance on a regular basis. It may be part of an annual review meeting when you discuss the coming years contracts and agreements. They might measure delivery performance to request, timeliness of invoicing, disputes and resolutions as examples. They are grading your performance and if the results are not up to expectations, future business may be jeopardized.
Be mindful that this is a two way street. You can have similar metrics:
- Days to pay
- Order rates versus commitments
- Disputes and resolutions
- Consideration for new applications
Do not fear rating your customers and sharing your expectations with them. A customer who is not meeting volume commitments, pays late or does not consider you for new business may not be one you want to work with for the long term. Having said that, you better find out what is driving the missed expectations the same way that your customer will ask about your misses.
Successful relationships thrive on clear expectations, communications and mutually beneficial plans for growth.
If you are missing your customer’s performance targets, they may be open to considering an alternate supplier. If your customer is not fulfilling their commitments, then you may not be achieving your sales budget. Do they merit the great deal they are getting?
Look for ways to facilitate mutual growth and include the items in your meeting agendas.
Have a question about sales? Contact Sakanashi and Associates Inc. and I will respond.
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