Plan For Growth
In a world where remote selling is the new modus operandi for Account Executives, nailing down new logos becomes even more difficult.
Plan for Growth: How Account Planning can turn relationships into revenue
In a world where remote selling is the new modus operandi for Account Executives, nailing down new logos becomes even more difficult. Analysts estimate that 70-80% of an average company’s annual revenue comes from existing customers. But making the shift to focusing on existing customers for growth versus new logos isn’t always easy.
Organizations change, people get reassigned or let go, and priorities shift. The company you once knew can quickly feel like a distant stranger. The next revenue push will come from understanding and nurturing relationships to uncover new potential. The focus on existing clients and the monumental change within these clients makes account planning more crucial than ever. This eBook will show you how you can use account planning to grow your relationships and your revenue.
Account planning transforms your ability to grow revenue. So, why don’t sales professionals adopt it in more significant numbers? According to the Altify CRO Benchmark study, 40% of sales meetings lack a clear plan for success. No plan, no win!
The revenue is in the whitespace:
The primary function of account planning is to increase pipeline and grow new opportunities. The goal is to find the whitespace in the existing account by developing a working knowledge of the people and their problems. It’s all about finding the gaps that others cannot or have not filled. This whitespace is where you can thrive.
While an account might sound like an abstract concept, it’s essential to realize your accounts consist of unique individuals with their own goals and motivations.
In complex B2B sales, there are multiple stakeholders. There are heads of business units, the influencers they work with every day, and the C-suite stakeholders to whom they answer. All of these people come together to form the account.
3P’s of Account Planning:
- People: While it’s tempting to focus on the decision-maker alone, it’s worth engaging all the players to whom you can deliver the most significant value.
- Problems: If you can identify the customer’s problems along with their business drivers, you can build on your relationship to attain the status of trusted advisor
- Potential: Account planning is the key to help you go from vendor to trusted advisor and is much more profitable in the long run.
Remember, sales is a team sport. It takes a complete revenue team to execute an account plan, and there may still be others beyond the team who can offer advice and insights to help you achieve your objectives.
Download the eBook now to get a better understanding of the process of using Account Planning to turn your existing customer relationships into revenue
