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The more you know, the more you (can) grow

I’m guessing many of you are familiar with the “The More You Know” public service announcements (PSAs) that run on NBC, and maybe even with their forerunners, the “One to Grow On” PSAs.  These spots enlist celebrities from Jimmy Fallon to Michelle Obama to inform the public about issues that are, or at least should be, important to us.  Many of these issues tie to health care, and the PSAs promote lifestyle choices that will result in healthy growth. 

Healthy growth… something each of us should strive for not only personally, but also for our business relationships.  And wouldn’t you know: the concept of The More You Know applies just as well in the world of strategic account management because the more we know about our customers, the more we are able to help them succeed, driving growth for them right along with growth for ourselves.  Here are just a few of the sources of knowledge that any account leader can use to get informed and get growing:

  • Internal financial measures, such as sales, revenue and repeat purchase pattern metrics
  • External financial measures, such as your customers’ stock performance
  • Annual Reports, which provide insight into strategy, leadership, markets and financials
  • Customer feedback, from sources such as annual relationship surveys, transaction surveys, customer service interactions, and your own interactions with the client team
  • Public information, as available on your customer’s own website, as well as other online sources of opinion and fact
  • Industry information, from analysts and relevant publications or other expert sources
  • Competitive information, available from most or all of these same sources

Turns out, knowledge really is power, and it’s a power that is increasingly accessible and essentially ours to squander if we choose not to collect it, absorb it, or act upon it.  And that is one to grow on!

Jennifer Batley
VP, Strategic Accounts

(Originally published on SAM Source, April 5, 2010)

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