Question

Case Study:

Retirement can’t come soon enough for Dylan Rainelli. After 35 years of selling specialized agriculture equipment to the region’s custom harvesters, he’s ready to spend his days in fishing on Burr Lake.

Dylan’s handled many large and high-dollar accounts throughout his years at Red Star Farm Equipment, but none larger than his account with Matlock Harvesting. Matlock Harvesting is a full-service custom harvesting company whose clients span the entire Midwest. Matlock’s equipment replacement cycle yields Red Star Farm Equipment 10 million annually-- all brokered by Dylan. Dylan believes the experience he has gained throughout his career and his commitment to servicing his accounts has been an important factor in keeping loyal customers - especially Matlock Harvesting. It’s important to Red Star Farm Equipment that Dylan’s successor provide this same level of commitment to these accounts as well.

Red Star Farm Equipment recently participated in a Penn State Career Fair with the goal of finding upcoming graduates to fill several positions in various departments within their company. You are well aware of the experience a sales career with Red Star Farm Equipment can provide and are excited to meet with their representatives. After the Career Fair, you receive an official interview at the company headquarters. They mention you are being considered as Dylan’s replacement and stress the importance and value that his accounts are to the company. You are asked two questions that you know will make or break the interview: what steps you will take to maintain these accounts? How will you continue to keep these accounts as long-term clients? How do you respond?

Answer 1

Personally speaking, I would take up the customer retention strategies mentioned below to maintain these accounts-

1. Gain complete insight on the customer based on Dylan’s perspective. Things like factors that influence and satisfy the huge accounts like Matlock Harvesting.

2. Provide adequate support and create an approachable relationship to listen to customer’s concerns and take necessary actions.

3. Frequent communication with the customers to be maintained to understand their needs and requirements.

4. Maintain a high level of product and service integrity that it surpasses the levels maintained by Dylan.

To continue to keep accounts as long-term clients are:

1. Engage them- It is not just sufficient to sell and not contact them. I would keep the large accounts engaged so that they connect themselves with the company and its brand. Communication through website, email messaging, and social media posts are great ways to keep the customers engaged.

2. Value emphasis- A customer would be satisfied if they receive some type of value in their lives for their purchase. Understand what value in customer’s perception is and offer them in the process of building long-term relationship with customers.

3. Make sure they feel special- I would make each customer to be special and that they are highly valued by the company. As the business grows, the customer might acquire more products and be a loyal long-term customer for the company.

4. Every query to be responded- Respond to every query as even the most loyal customers might have problems. Each problem should be addressed immediately.

5. Social Media plaform- A customer is a long-term client for the company when they are influenced by other’s word of mouth reference. Their social media influence needs to be explored and the platform should be used to receive good reviews and feedback from loyal customers.