Strategic Account Planning for Growth
How many customers do you have that you can grow by multiples; e.g. growth of 3 to 4 times in the next 2 years?
It is interesting to see how the high performers plan to achieve their sales targets. They tend to have a handful of accounts that they believe they can grow by 2 to 4 times, they then have a group that they believe they can grow by 20-30%, another group +/- 10% and the final group that will decline. This is all based on deep insight, not just a guess!
They then set about how they can achieve their target growth through good strategic account planning. The first step is to set a stretch goal along with a deadline, this is followed by setting a series of milestones (the stepping stones to achieve the goal). The they are on a journey of insight discovery based on strategic account key issues that drive proactive initiatives to achieve the account goal and deliver value to the account.
Here is an example of the key account issues, summarized based on our Salesforce App, SLAM (Strategic Large Account Management):
Business drivers The compelling issues (the business drivers) driving the customer's business
Stakeholders Matrix The level of coverage and relationships across the Key Stakeholders
Expectations The expectations that your customer has of you and your company
Measurement & Review The criteria and processes that your customer will use to evaluate your performance
Budgets Where the different budgets sit, who has control over them, and the criteria needed to release monies
Revenues How revenues and profits are tracking against the targets set for the account
Competition All the competitive threats, including internal threats
Counter Strategy The competitive strategies being employed to knock-off each competitive threat
Account Health The measure of the level of relationships and value being delivered
Opportunities The number and value of active opportunities against planned growth
The high-performers continuously review these key issues and develop proactive initiatives to drive the account forward in a predictable fashion. They are very quick to pick up on any changes at their accounts, particularly changes of business plans and strategy, restructures, promotions and new people joining. At any stage of their journey of growth they understand their current position and have a proactive plan to address any issues to keep on top of the account.
If you would like more information on how to put in a strategic account planning approach, please give me a call on 0419 879 699 or send me an email, firstname.lastname@example.org