What are Your Strategic Account Management Practices?
Strategic account management and opportunity planning is a must-have for optimizing growth and opportunities in larger, more complex accounts. And having a list of activities that you do “when you are at your best” is also a good primer for best next actions. These 10 questions can also ensure that you are covering all of the bases.
CPS’ Top 10 Questions to Ask Yourself:
Do you understand the customer’s current state, desired future state, and key initiatives to improve their business? Has the customer confirmed your analysis?
How and when have you validated your value proposition? Does your customer understand the alignment between your company’s solutions and their desired outcomes?
What actions is your competitor taking to strengthen their position? What is their value proposition?
Have you included all potential business in your goal setting? Is there any way to create a “packaged solution” by adding other products and services that will have a greater impact on your customer’s performance?
Have you identified all the key players in the customer organization? Who are the decision-makers, influencers, and approvers? Who will champion your solution, and who might be a gatekeeper? How can you improve your relationships?
Does the customer share your vision for a long-term relationship?
Would your customer refer you to his/her peers? To other divisions or business units within their company?
How did you calculate the benefits to the customer? Are the metrics clear? Do they make a powerful business case for a long-term relationship with your company?
Does your work plan include milestones the reflect the customer’s purchasing processes?
What else can you do to accomplish your extraordinary goal for the account?
CPS’ Best Practices:
Conduct a quarterly review for your most important accounts.
Enroll others within your company to participate if they can help.
Ensure that there is a firm team commitment to review the work plan on a regular basis and manage the strategy as a project. Determine how frequently you and the team will communicate on best next actions.