How do you measure the success of your account management team?
“Confidence" as a metric of success is overlooked and often deemed 'too woolly' to include as a specific KPI.But it's a multiplier to accelerate the retention and growth of the agency's client relationships.
Listen to these account managers/directors/client services directors and owners talking about how their confidence increased after our Account AcceleratorTM programme.
These individuals are the ones who took the training and then took action on what they were learning to get results for their agencies.It's easier to use the metrics we are most familiar with to measure the account management team's success. Here are some examples (which vary by agency but might be useful as a benchmark for you to follow if you don't have any specific metrics in place):
1. Client retention (keeping clients happy and engaged):
Client retention rate: approx 90%+
Churn rate: approx below 10%
Mitigating relationship loss: Various Relationship Audits metrics
Likelihood to refer e.g. Net Promoter Score (NPS): typically 70+
2. Account growth metrics (maximising upsell and cross-sell opportunities):
Monthly recurring revenue growth: 5–10% per month
Upsell & cross-sell revenue: specific account goals set e.g. 5-10%
Testimonials: X target number (gathered at end of the project)
Referral rate: typically 20%+
3. Efficiency metrics (proactive client engagement):
Response times: In line with client's 'service charter' e.g. 4 hours to reply to an email
Client touch points: 'upstream' and 'downstream' set as 2-4 per client/month
Proposal conversion rate: set at a X% e.g. 50%+
On-time project delivery rate: set usually as X% e.g. 90%+
Agencies could ask account managers more often how they're feeling and/or use an internal 'pulse' tool to get a feel for how engaged their team feel using a tool such as Culture Monkey.
Want to discuss account management skills training and coaching options? Curious about how AI can help accelerate your team's success? Here's a link to book a no-obligation call to talk about your agency and explore options.
