Browse Definitions :
Definition

book of business

Book of business is another name for an account or client list. A well-maintained book of business will help company representatives continually improve client and customer relationship management (CRM) and focus attention on highly-valued listings while also nurturing lower-valued relationships.

Because it is an important business asset, a book of business must be maintained on a continual basis. The value of specific listings in the book is often based on the dollar amount each account or client currently generates, but valuation may also be based upon other criteria such as influence in the marketplace, potential to bring in new business, customer loyalty or long-standing personal relationships.

In some industries such as insurance, law or financial investment, a book of business may be sold when the book’s owner retires or closes a practice. In such cases, monetary value for the book may be contingent upon the purchaser’s ability to retain clients after the sale.

This was last updated in January 2016

Continue Reading About book of business

SearchNetworking
SearchSecurity
  • man in the browser (MitB)

    Man in the browser (MitB) is a security attack where the perpetrator installs a Trojan horse on the victim's computer that is ...

  • Patch Tuesday

    Patch Tuesday is the unofficial name of Microsoft's monthly scheduled release of security fixes for the Windows operating system ...

  • parameter tampering

    Parameter tampering is a type of web-based cyber attack in which certain parameters in a URL are changed without a user's ...

SearchCIO
  • chief procurement officer (CPO)

    The chief procurement officer, or CPO, leads an organization's procurement department and oversees the acquisitions of goods and ...

  • Lean Six Sigma

    Lean Six Sigma is a data-driven approach to improving efficiency, customer satisfaction and profits.

  • change management

    Change management is a systematic approach to dealing with the transition or transformation of an organization's goals, processes...

SearchHRSoftware
SearchCustomerExperience
  • clickstream data (clickstream analytics)

    Clickstream data and clickstream analytics are the processes involved in collecting, analyzing and reporting aggregate data about...

  • neuromarketing

    Neuromarketing is the study of how people's brains respond to advertising and other brand-related messages by scientifically ...

  • contextual marketing

    Contextual marketing is an online marketing strategy model in which people are served with targeted advertising based on their ...

Close