Types of Customers in Sales and Marketing

 Any Manufacturing or services company will broadly have three main types of customers/accounts: Key Accounts, Medium Range Accounts and New/Low Volume customers

40% focus should on Key Accounts as their volumes decide your direction of sales targets. Key Accounts or big volumes driving customers demand more attention and focus by virtue, so our daily sales routine should start with monitoring the current sales status and organise all the modalities. Please note if your major customer sneeze your management will get fever so be careful with the top 5 or 10 Key customers. In tough market conditions like what we are in now these big customers/companies in your list cannot afford to completely shut down so their continuity will ensure your continuity.

 

30% focus on Medium Accounts whose sales volume is neither low nor high compared to your top 5 or 10 volume contributors. These customers are slowly getting used to your product/services. If you feel your share is nominal your further efforts should be to increase your volumes. Keep an eye for any cross selling opportunities also to derive more value from this customers and ascend them to key customer in your region. Business from these customers will be volatile for a while as you will be competing for customer’s share so the more you assert for your share the better you can fetch.

 

30% focus on New and low volume customers as these are in nurturing stage and need special attention to bring them up the ladder. We need to regularly tap them to show your eagerness to associate with new prospect. We have to ensure that continuity is established, once continuity is established customer will slowly develop comfort and trust in your product/services and on your company. Be judicious on quantity of time you spare on low volume customers as your time is valuable you can afford same amount of time to every customer.

 

Any other points to add, please comment.