While this should seem like a fairly straightforward task, many sales team struggle from the start. To ensure that your strategic sales account plans are set up to succeed, follow these three tips.
- Define Your Target Client: Before you start creating plans to protect, maintain, and grow key accounts, you will save yourself a lot of angst if you have an agreed upon definition of your best client. This includes defining your target Industry, Geography, Size, Title/Role/Function, Type of Person, and key Buying Triggers. The clearer you are about who you serve and where you should win – the better.
- Identify Performance and Potential Criteria: Once you know your ideal client profile, it is time to create a 2x2 matrix so that you can plot your clients based upon their current performance and future potential. We recommend having no more than two or three criteria. Big and simple metrics like revenue, margin, and penetration are a good place to start.
- Plot, Debate and Shift: Now it is time to place your accounts on the grid based upon your key criteria. You will quickly find that this causes debate among your sales teams. Encourage this. The value of adding or shifting criteria combined with the nuances learned from comparing accounts is where the real nuggets for account growth can be found.
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