6 Account Management Opportunities on LinkedIn You Should Be Doing
Many LinkedIn users primarily look to LinkedIn for generating new business. It’s great for that. But, one thing companies aren’t embracing enough is LinkedIn’s use for account management of the clients you have, which can result in stronger relationships, more sales and referrals.
Let’s look at the opportunities on LinkedIn by managing your client accounts.
Strategic Planning
Research: Use LinkedIn as an information-gathering tool to develop account strategies.
Best Contacts: Use LinkedIn (Sales Navigator even better) to identify the best contacts at your accounts to build relationships with. Those who are directly involved in buying decisions and those who can influence them.
Strategies: Formulate strategies for competitive analysis, personnel changes, and company updates to ensure you are keeping ahead of the curve.
Data and Insights Utilisation
Hiring: Monitor hiring trends at client companies to anticipate future needs related to your solutions. Keep informed of where companies are expanding and contracting.
Insights: Utilise relationship intelligence tools to assess risks and prioritise engagement efforts. Alerts trigger action.
CRM Up-to-date: Sync contact and account data for real-time insights into account health and opportunities. Keeping a CRM up-to-date is critical for overall effectiveness.
NB A Sales Navigator Advanced Plus account is required for CRM sync.
Networking
Be Connected: Ensure you are connected with key decision-makers at client companies directly through LinkedIn. It’s amazing how many people think they are when they are not. This is one of the first steps I get my clients to do when they start working with me.
Build Relationships: Follow professional journeys of these connections and use promotions and endorsements strategically to build goodwill. People love it when you pay attention to their careers and progress.
Content Engagement
Your Content: Share relevant touchpoints via content, commenting and messaging to establish credibility with clients, to keep in touch with them and to add value.
Their Content: Monitor posts from clients to stay visible with them and show your support, but ensure you also add value and show your expertise in their posts.
Client Relationship Management
Monitoring: Monitor updates and activities of client accounts to stay informed about their needs and developments. These can present both opportunities and threats.
Communication: Communicate directly and create touchpoints with clients through LinkedIn messaging or posts (theirs and yours).
Employees Watch: Track personnel changes within client companies to identify opportunities for strengthening relationships. Sales Navigator is great for this.
Business Growth Activities
More Sales: Use LinkedIn for upselling and cross-selling opportunities by identifying client needs based on their activity, hiring trends, or other sales intelligence gathering.
New Account Opportunities: Inevitably, people leave accounts. When this happens, it presents an opportunity to gain a new client. If you have maintained a good relationship with an influential person at an account, when they move, they could take you with them or recommend you.
In Summary
There is no question that LinkedIn is a valuable resource for gaining new business via relationship building with the right people at the right time (via creating valuable touchpoints). However, it also presents an opportunity to gain more revenue from the account you have, directly (more sales) and indirectly (referrals).
Yes, it takes time to keep these relationships going, but client acquisition typically costs anywhere between 5 and 25 times more than keeping the clients you already have, highlighting the importance of client retention for business profitability. If you leverage your clients, too, this gap will grow further.
How many of you have an account management strategy for LinkedIn?
P.S. Account management is miles easier with Sales Navigator and the tools within it.
6 Account Management Opportunities on LinkedIn
6 Account Management Opportunities on LinkedIn You Should Be Doing
Many LinkedIn users primarily look to LinkedIn for generating new business. It’s great for that. But, one thing companies aren’t embracing enough is LinkedIn’s use for account management of the clients you have, which can result in stronger relationships, more sales and referrals.
Let’s look at the opportunities on LinkedIn by managing your client accounts.
Strategic Planning
Research: Use LinkedIn as an information-gathering tool to develop account strategies.
Best Contacts: Use LinkedIn (Sales Navigator even better) to identify the best contacts at your accounts to build relationships with. Those who are directly involved in buying decisions and those who can influence them.
Strategies: Formulate strategies for competitive analysis, personnel changes, and company updates to ensure you are keeping ahead of the curve.
Data and Insights Utilisation
Hiring: Monitor hiring trends at client companies to anticipate future needs related to your solutions. Keep informed of where companies are expanding and contracting.
Insights: Utilise relationship intelligence tools to assess risks and prioritise engagement efforts. Alerts trigger action.
CRM Up-to-date: Sync contact and account data for real-time insights into account health and opportunities. Keeping a CRM up-to-date is critical for overall effectiveness.
NB A Sales Navigator Advanced Plus account is required for CRM sync.
Networking
Be Connected: Ensure you are connected with key decision-makers at client companies directly through LinkedIn. It’s amazing how many people think they are when they are not. This is one of the first steps I get my clients to do when they start working with me.
Build Relationships: Follow professional journeys of these connections and use promotions and endorsements strategically to build goodwill. People love it when you pay attention to their careers and progress.
Content Engagement
Your Content: Share relevant touchpoints via content, commenting and messaging to establish credibility with clients, to keep in touch with them and to add value.
Their Content: Monitor posts from clients to stay visible with them and show your support, but ensure you also add value and show your expertise in their posts.
Client Relationship Management
Monitoring: Monitor updates and activities of client accounts to stay informed about their needs and developments. These can present both opportunities and threats.
Communication: Communicate directly and create touchpoints with clients through LinkedIn messaging or posts (theirs and yours).
Employees Watch: Track personnel changes within client companies to identify opportunities for strengthening relationships. Sales Navigator is great for this.
Business Growth Activities
More Sales: Use LinkedIn for upselling and cross-selling opportunities by identifying client needs based on their activity, hiring trends, or other sales intelligence gathering.
New Account Opportunities: Inevitably, people leave accounts. When this happens, it presents an opportunity to gain a new client. If you have maintained a good relationship with an influential person at an account, when they move, they could take you with them or recommend you.
In Summary
There is no question that LinkedIn is a valuable resource for gaining new business via relationship building with the right people at the right time (via creating valuable touchpoints). However, it also presents an opportunity to gain more revenue from the account you have, directly (more sales) and indirectly (referrals).
Yes, it takes time to keep these relationships going, but client acquisition typically costs anywhere between 5 and 25 times more than keeping the clients you already have, highlighting the importance of client retention for business profitability. If you leverage your clients, too, this gap will grow further.
How many of you have an account management strategy for LinkedIn?
P.S. Account management is miles easier with Sales Navigator and the tools within it.
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