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Account Management

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Account Management

Account Management

To sustain, a business needs to maintain a good relationship with the customers. For good relation valuable customer information must be maintained in an account management system. The user name, addresses, email address and phone number etc. of the customer can be stored under one central location. The customer’s account management allows the team to track the user contact information, ownership of products details, agreements etc. The data are stored in a hierarchical manner which allows grouping the contacts together in a single account. This benefits visibility of all interactions at any point of time. More customers can be provided better and faster service.

1.Account Source

Account management is basically a process which allows managing the communication and transaction between customers and business. This allows the contacts to be stored in accounts according to certain fields and functions. But the question arises what are the sources for the account management. The most important source for the customer account management is the website. You can get customer information from references of other sales representatives, junior staff in sales etc. One can also get a good amount of details from email campaigns, premium contents and social media ads. The media coverage can also be one source for account management.

2.Account Contact

A lot of time, the sales rep waste time behind contacting wrong contacts. This is because the contacts are not stored under right group. With account management, the sales reps have the benefit to focus their attention towards the valuable contacts. The contacts details of the customers are stored under related groups. The pre-defined database fields are used to record the information of the contact. The data can be easily captured, viewed as well as edit the transactions using the system. The organization can offer better service to customers when the contacts are available easily in the hands. The needs of the customers too can be taken care by the system.

3.Account Lead

The account management system has several benefits for any business. The most important part of any customer relationship management is to generate leads. The system generates more productive and valuable leads. The valuable leads are only converted into respective valuable accounts. The conversion from lead to account can be faster with the account management system. The account management system allows storing multiple contacts into one account. Customer accounts can be organized using the customized labels which allow the officers to stay updated with all activities and interaction. Identifying opportunities and go through it can be faster with both new as well as present customers.

4.Account Target

The target accounts are not easy to find because not much is known about them. Identifying the targets requires the knowledge and assessment of their lifetime. The expectation of profit amount is also unknown. A lot of guesswork is needed to make a rough ranking of the accounts according to the value. Accounts can be ranked according to the outcome of profit ranking report. The best of them must be targeted or focused to be contacted and offered your best proposition. Most of the accounts that are dealt are based on locations and thus new methods of targeting must be involved.

5.Import Account

Customers’ data are stored in excel spreadsheets or other such systems. The data can be lost or slip through cracks. Hence it is ideal to import the accounts into CRM systems to keep the track of all the information of customers at single place. Before the file is to be imported some things must be taken care of. The account must be in the right format so that it can be imported. The contact fields of the accounts in spreadsheet must be match with files. There must be space for import to take place. Verifying the data in the files is in the required format or not is also very important.

6.Assign Account

Maintaining relations with customers is possible only when the customers get what they want. This is possible if they contacts are followed up in time. The accounts once imported must be assigned to the users. This can be done manually or automatically. The account management systems automatically assign the accounts to users. The assignment is done on the base of account assignment rules and opportunities. Some factors determine the way the rules assign opportunities to users. The number of users assigned to one territory is one such factor. Make sure the account associated with the opportunity is assigned to one territory.

7.Account Address

The addresses of the accounts are important and there are many sources from where these can be obtained. The account management helps the company to manage these addresses of the contacts under one centralized roof. The details of multiple contacts under same group can be kept in one account. The standard addresses are the addresses created into standard objects of file. The APIs can access them as elements of individual address or just addresses or compound data type.  The fields like city, country, state, pin or postal code, country code, state code, street etc. act as compound field in type address of the database.

8.Account Industry

Accounts represent names, companies, organizations etc. on which the employees work on. The account management is the process of maintaining the transactions of business with the various contacts. Any kind of industry can use the account management system designed especially for them. The account management system can be customized to suit the industry solutions of any organization. Various industries use the account management system to fulfill the needs of the division of contacts inside the business. This saves the time for the managers to focus on the valuable contacts instead of wrong ones. The productivity can also increase with the use of the system.

9.Convert to Account

Leads are gathered from different sources available like web forms, purchase lists etc. The lead module is the place where the leads are kept. Leads can be qualified to be converted to valuable contacts. The unqualified leads are obtained from different places and are placed in one place where members work towards calling and emailing them to qualify them. If the process of qualifying goes well, the leads can be converted to respective contacts or accounts. Accounts can be created along with opportunities and schedules as well. Once the leads are converted to accounts, the call can now be related with the accounts now.