Once you have engaged a major account, how do you land and grow it? Strategic account planning is all about choosing wisely which accounts are worth the extra time and effort required to build the collaborative relationship that will pay off for both you and your client company.
Your overall goal should be the same: to generate an increasing number of revenue streams while building mutual loyalty and entanglement.
Here are four best practices for effective strategic account planning:
- Know where your customer company is heading. Work with your customer to be sure you understand their overall strategy and the specific plans they have to implement it. This includes understanding strategic objectives, barriers, weaknesses, opportunities, threats and strengths.
- Build a dedicated client account team. Include your customer contact and any others needed (i.e. an executive sponsor or technical expert) to be successful.
- Think as One. Collaborate on initiatives that bring benefits for both you and your customer to take both companies further.
- Make your value visible. Be sure that your customer’s executive team is well aware of how you have specifically improved and added value to their business as well as your own.
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