account-growth

Vocabulary Word

Definition

Imagine your social media profile. When you get more followers, isn't that 'account growth'? It's the same in business. It means increasing something valuable in an account, like customers or sales.

Examples in Different Contexts

In investment management, 'account growth' is the goal of increasing the value of an investment portfolio. An investment advisor might say, 'Our strategic planning focuses on long-term account growth for our clients.'

Practice Scenarios

Tech

Scenario:

Data shows that our users are not fully exploiting available features. How can we promote more resourceful usage?

Response:

We could foster account growth by introducing user incentives for feature exploration.

Business

Scenario:

We need to focus on retaining and nurturing our existing customers. How are we pursuing those opportunities?

Response:

Developing a comprehensive customer service strategy could enhance our account growth.