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8 Essential Components of Effective Account Planning Tools

Sales management

key account management tools

richardsonsalestraining1 September 2023Article

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Growing existing accounts requires account planning tools that capture critical information, align with customer priorities, and deliver consistent value.
This is because sales professionals must first select the right customers, analyse their needs, draft an action plan, collaborate with the customer, and rise to the level of a trusted advisor to effectively execute an account growth strategy.

With so many elements in play, sales professionals need a way to bring structure to the account planning process. For this reason, sales teams need strong account planning tools and prosperous account strategy training to ensure the tools are put to good use.

Here, we look at the eight critical components of an effective account planning tool.

1. Industry Analysis

Examine external industry issues that may impact the customer. Industry trends reveal the customer’s motivation for change, whether it’s market changes, resource issues, competitive forces, or the regulatory environment. Isolate which of these areas is most pressing for the customer.

2. Customer Relationship Analysis

Effective account planning tools document your history with the customer and avenues for expansion like untapped business units and new divisions. This assessment should include a review of customer revenues and a summary of the “white space” identified in the account so that you can see areas in which you can add value.

3. Customer Strategy Map

Review the customer’s strategy to determine which of their objectives and initiatives connect with the solution’s capabilities. List the customer’s goals, challenges, and culture. Determine where you can provide the most value within the context of the customer’s plans.

4. Stakeholder Assessment

Categorise the stakeholders by their role, level of influence, and alignment with the solution. Take an inventory of your strengths and vulnerabilities. Clarify your key objective, whether it’s to strengthen the relationship, neutralise the competition, or increase the solution’s perceived value.


5. Competitive Assessment

Review your competitive position from the customer’s perspective. Develop ways to articulate your unique value. Determine how you will align with the customer to meet their needs in a way that outperforms the competition.

6. Running Questions List

Questions will emerge throughout the planning process. Keep an ongoing list of these enquiries and the steps needed to answer them. One important question can reveal information that drives the sale to closing.

7. Strategy Development

The information from the steps listed above must coalesce into a strategy. To do so, create a detailed list of specific goals and objectives that account for your solution’s capabilities. The drafted strategy must include potential opportunities, stakeholder relationships, and service needs.

major account planning tool

Major Account Planning Tool

The Major Account Planning (MAP) Tool is a Salesforce native, collaborative application designed to support all phases of the account planning process for ongoing effective execution of current and future account plans.

Learn More

8. Action Plan

Identify actions to reduce uncertainty, highlight strengths, facilitate consensus, remove or reduce vulnerabilities, and drive momentum to the sale. Determine which team members will take ownership in executing these steps. List potential obstacles and how to respond.

If the sales professional is going to guide the customer to the sale, they must know every turn along the way. Planning helps anticipate those turns. The key is to become intentional with every step of the account planning process. Learn more by downloading the complimentary brochure: Major Account Planning Programme Brochure.

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young account manager using an account planning tool on a tablet looking out the window smiling because the tool is helping her grow her revenue.

Article: The 8 Essential Components You Need In Your Account Planning Tool


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