How Effective Account Management Can Propel Your Solar Business
Effective account management is crucial in solar financing, acting as a catalyst for business growth.
There is nothing more frustrating than an account manager who doesn’t know your solar business or the challenges you face in the field. Adept account managers guide solar businesses through the complexities of financing products and the solar industry. Effective account management is crucial in solar financing, acting as a catalyst for business growth.
Why Account Management Matters to Your Solar or Home Improvement Business
- Customized Support: Tailored strategies ensure financing solutions are precisely aligned with the unique goals and challenges of solar and home improvement installers.
- Clear Communication and Collaboration: Dependable financing partners provide guidance on cash flow management and market trends. They offer strategic insights that drive business decisions and enhance market positioning.
- Proactive Risk Mitigation: Skilled account management teams preemptively address regulatory and financial challenges. This ensures projects not only stay on track but also leverage industry changes for competitive advantage.
Effective account management goes beyond resolving issues—it strategically advances solar and home improvement company’s objectives. For instance, during times of regulatory shifts, an adept account manager can turn potential challenges into opportunities for growth. They help businesses adapt and thrive in a fluctuating market.
What to Look for in a Winning Account Management Team
- Dedicated Account Managers: Look for a financing provider that assigns dedicated account managers who offer personalized support. These managers should guide you through various financing products and assist with project management specifics, ensuring a tailored approach to meet your business needs.
- Comprehensive Support Network: Effective account management includes collaboration with relationship managers and customer support teams. This integrated support helps address issues promptly and ensures that all your concerns are managed efficiently.
- Proactive Communication: A responsive financing provider will maintain clear and continuous communication channels. This is crucial for keeping you informed about market shifts, regulatory changes, and any updates that might have an impact on your business operations or project timelines.
The Risks of Poor Account Management
Inadequate account management can lead to delayed responses and unresolved issues. Delays can affect critical aspects of a solar or home improvement installation business such as cash flow, project execution, and customer satisfaction. Issues that arise during customer interactions, especially at crucial decision-making moments, demand swift and informed resolutions to prevent potential losses.
Using NPS to Evaluate Account Management Effectiveness
Net Promoter Score (NPS) serves as a benchmark for evaluating the effectiveness of a financing provider’s customer support. Respondents rate the likelihood of recommending a product or service on a scale of 0-10. Scores range from -100 to +100, with anything above +50 considered excellent. Companies in the financial services sector average an NPS around +34, while leading businesses often aim for scores above +70.
Sunlight Financial’s Leadership in Account Management
Sunlight Financial is recognized for its high NPS, reflecting its commitment to best-in-class account management and customer support. Over the past year, Sunlight has maintained impressive NPS scores, with customer scores peaking at +87 and partner scores often exceeding +86, surpassing industry averages. These figures highlight Sunlight’s focus on fostering strong, supportive relationships with our partners. Sunlight ensures partners have the necessary support to succeed.
Quality account management is pivotal for the success of solar installations and home improvement projects. At Sunlight Financial, we equip our partners with the support needed to navigate market shifts and regulatory changes so they are well positioned to capitalize on growth opportunities.
Reach out to our team today to learn how Sunlight can transform your financing experience!