Client Relationship & Account Management Flashcards
7 cards from real CSM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Client Relationship & Account Management flashcards as text
A client consistently pays invoices 45 days late despite net-30 terms. What is the account manager's BEST course of action?
Answer: Involve finance and legal to renegotiate payment terms collaboratively with the client
Collaborating with finance and legal to formalize revised payment terms protects the company while preserving the client relationship.
What does 'client lifetime value' (CLV) help an account manager determine?
Answer: How much total revenue a client is expected to generate over the relationship
CLV estimates total expected revenue from a client over the full relationship, guiding how much to invest in retention and growth.
Which communication approach is MOST effective for managing a client who is classified as a 'high-maintenance' account?
Answer: Assign a dedicated point of contact and establish a structured communication cadence
A dedicated contact with a predictable cadence sets clear expectations and reduces reactive firefighting for high-maintenance clients.
In account planning, what is the purpose of identifying 'white space'?
Answer: Finding areas in the client's organization where your products are not yet deployed
White space analysis reveals untapped opportunities within an existing account where additional solutions could be introduced.
A client's Net Promoter Score (NPS) drops from +60 to +20 after a product outage. What is the MOST appropriate first step?
Answer: Conduct follow-up interviews with detractors to understand specific grievances
Interviewing detractors pinpoints concrete issues driving the drop, enabling targeted corrective action rather than guesswork.
What is the key difference between 'account retention' and 'account expansion' as account management goals?
Answer: Retention prevents churn; expansion grows revenue from existing clients
Retention ensures the client continues the relationship while expansion increases the revenue or scope of that existing relationship.
Which stakeholder in a client organization typically controls budget allocation for a major renewal or expansion?
Answer: The economic buyer, often a CFO or VP-level executive
The economic buyer holds budget authority and makes the final financial decision on renewals and expansions.