What do you call your Account Planning process? Do you know its value to your organization?
Whether you call it account planning, strategic account management, account management, key account management, strategic account planning, major accounts, or global accounts, you know that to plan and strategize about how to maximize revenue from your customers is a worthwhile endeavor. In fact based on a recent survey we conducted here at the TAS Group (n=329) we know that 95% of companies recognize that account planning is important. (Because we wrote the book on 'Account Planning in Salesforce', we call it account planning.) We have been extolling the virtues of account planning for many years and we are really encouraged by the value we have seen for our customers and indeed for our customers’ customers. Most people know that acquiring business from an existing customer is six times more profitable than winning business at a new account. That’s good for the accountants. What is less understood, and should perhaps resonate more strongly with the sales people or account managers out there, is that the win rate in an existing account is usually up to 7 times greater. We all like to win, so this merits some thought.Read More