Account Planning: Building for Long-Term Success

Account Planning White Paper

According to McKinsey “The five-year growth rate of total returns to shareholders for digital leaders is almost double that of all other firms”, when they undertake a digitally focused account planning strategy. This should focus the mind of all large enterprises when putting together their own long term Account Planning strategy.

In order to achieve this type of outsized impact on your business, there are five critical factors to consider for successful account planning:

  • Calibration
  • Cadence
  • Coaching
  • Communication
  • KPIs

1. Calibration

Successful account planning is all about getting the right calibration — you need the right-sized account plan, the right plan type, and the right functionality and activities for your revenue team. After all, account planning isn’t just about increasing sales. It’s about bringing insight to the customer so you can present solutions that benefit them, thereby increasing sales.

For successful account planning, it’s crucial that you thoughtfully consider your options and select the right tools to give your revenue team the best chance of success in the account.

2. Cadence

In order to stay on top of your lead pipeline and manage your sales, you will need to have a scheduled cadence in place. Schedule time to test and improve your portfolio, account plan, and review opportunities. Publish your operational cadence so that everyone is on the same page.

3. Coaching

In addition to learning about the products or services they are selling, sales leaders should also be trained to model the right behavior. There are several ways to provide education and resources for your revenue team:

  • A coaching program can educate sellers on the benefits of the account planning system so the whole revenue team is on the same page.
  • A mentorship program will give experienced team members an opportunity to share their knowledge with new sellers.
  • A center of excellence provides a one-stop-shop for tools and resources to encourage continuous learning and improvement.

4. Communication

If you want to get everyone on board with account planning, you need to celebrate, socialize and communicate your successes. This communication can take the form of a published report or dashboard, monthly email communication to the revenue team or sharing successes at the quarterly sales meeting.

5. Key Performance Indicators

As with any system, if you don’t know how to measure success, there is no way to achieve it. Start by defining a few critical KPIs, such as the number of deals, average deal size, win rate, and sales cycle.

And when the data comes in, publish and communicate your results with Salesforce reports, Upland Altify dashboards, and other third-party analytics tools.

Build Your Account Planning With Long-term Success in Mind

If you keep these five critical factors in mind, you’ll be set up for success well into the future. To learn more about how account planning can help you maximize customer revenue and reach sales goals, download our white paper.

Download our White Paper

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