5 Ways Account Management Tools Help Teams Seize Every Opportunity
Never miss out on an opportunity in an existing account again
Everyone knows key account management is critical for sales success. It's proven to deliver revenue and foster long-term customer relationships. However, effectively managing and expanding key accounts is often easier said than done.
Sales professionals and their managers frequently overlook opportunities to grow their business within existing accounts. This might be because they’re trying to solve the wrong problems or prioritising new prospects over existing clients.
One of the best ways to avoid these account management traps is to use a tool to embed best practices into your team’s flow of work.
In this blog post, we’ll explore the benefits account management tools like Richardson’s Prosperous Account Strategy tool can bring to your sales organisation.
Understanding the power of account planning tools
Technology for the sake of technology is meaningless, but when it integrates into your current ecosystem and closes gaps between strategy and performance, it can be transformative.
The right account planning tool will help you improve every part of your sales team’s account management process by helping them be more productive and effective.
Depending on your business goals, some of the common performance improvement opportunities created by account planning tools include:
- Increased Account Value: Account planning tools can guide the creation of more effective plans by helping reps identify opportunities and strategies that lead to increased revenue and overall account growth.
- Maximized Account Penetration: Account planning tools can uncover tactics for further penetrating existing accounts by offering insights into the account landscape which reveal new avenues for expanding their business.
- Improved Prioritization: Account planning tools can assist team members in identifying and prioritising potential new business opportunities within their accounts, ensuring they focus their efforts on accounts with the highest potential.
- Enhanced Revenue Planning: Account planning tools help teams outline and track progress against shared objectives for revenue growth and relationship development improving their alignment with the overall business strategy.
- Improved Understanding of Account Decision-Making Dynamics: Account management tools help reps visualise and navigate the complex decision-making dynamics within accounts by providing insight into key decision makers, their relationships, and areas of influence.
Finding the right tool for your team
Richardson offers an account planning tool that helps you realise all the benefits discussed here and more. Our Prosperous Account Strategy Tool is a Salesforce native, highly visual, and collaborative application designed to support all phases of the account planning process.
In the Prosperous Account Planning training programme workshop, users learn to create account plans directly in Salesforce. After the workshop, account managers and sales professionals use the application to support the ongoing effective execution of their current and future account management plans.
The Prosperous Account Strategy Tool strategically captures critical account information and uses that information to inform and guide your team to more successful account strategy execution.
Click here to contact us so we can show you this exciting tool in action.
Strategic Account Planning Programme Brochure
Explore a programme that builds the skills your sales team needs to deepen client relationships and generate high-value sales.Download
Get industry insights and stay up to date, subscribe to our newsletter.
Joining our community gives you access to weekly thought leadership to help guide your planning for a training initiative, inform your sales strategy, and most importantly, improve your team's performance.