Gift Basket Business Blog

Key Accounts for Your Gift Basket Business

June 10th, 2007 at 12:54pm Lorie Obernauer

Those of us who own businesses understand the importance of developing some key accounts. These are important customers who give us loads of business. Likewise, we give these customers loads of service and good quality!

In the May issue of Specialty Food Magazine, Chris Crocker writes about the possible dangers associated with key accounts. He points out that these customers may become a burden to our businesses instead of an asset. These are the customers to whom we give extra discounts, and extra services in order to keep them happy. Sometimes we have to step back and assess whether we’re “shaving our margins just to keep the business”.

Certainly, we all want to keep these accounts as long as we’re still making a profit. But Crocker suggests that we make sure we are taking good care of our other customers and not skimping on service to those clients. We may lose a key account every now and then. But we need to make sure that we have created opportunities with our other customers that may lead to their becoming our next key account.

Entry Filed under: Business Tips