Tip: Study your best strategic account managers to better understand what makes them successful in their jobs.It is very helpful to use valid, reliable psychographic assessments, along with time and activity studies.
The purpose is to create a blueprint that helps the account team successfully implement the shared account strategy.
Stay tuned: Next time, we will look at organizations’ abilities to implement strategic account planning and at tools and systems to make your account planning life easier.
Now, let’s focus on how to make strategic account planning a valuable process.
Here are a few pillars to make strategic account planning valuable: Strategic account planning is all about developing new ideas about how to grow the account in terms of customer satisfaction, loyalty, revenue, and margin.
Successful sales leaders build their reputations and careers on their ability to consistently meet or exceed their revenue goals through focused sales strategy execution.
Many sales leaders fall short of their annual “number,” which is one of the driving forces of high turnover among sales leaders.
Examples of a high-level sales strategy might include growing market share and launching new products.
Let Richardson Help Your Team Take Their Strategic Account Management Skills to the Next Level To Learn More, Download the White Paper: Growing Into the White Space With a Prosperous Account Strategy Building relationships with existing clients to transform them into key strategic accounts is a crucial component of any sales strategy because selling to an existing account is much more profitable and predictable than trying to win new business.
The strategic account manager also needs to have credibility and the ability to marshal internal resources when necessary.
Extensive technical expertise isn’t necessary, but an aptitude to call in the right people at the right time is critical to an account manager’s success in seizing opportunities that can further the relationship with the strategic account.