Account management is an important process that requires intentional and strategic planning and execution. This infographic contains a few hacks to improve your account management process, and hopefully think about account management in different ways. Ultimately, account management is about a deep understanding of your customer, their goals and objectives, and providing exceptional value to the account so that a true partnership can develop.
Enough Yappin', on to the Hackin'!
Account Management Hack 1: Reverse SWOT
When you evaluate your key account's Strengths, Weaknesses, Opportunities, and Threats (SWOT), do the same exercise in reverse, for how the account views you. Verify these assumptions with the account to encourage an honest dialogue and build trust and transparency.
Remember: It's not a sin to have a weakness, it is a sin to not know about it and try to correct it.
Account Management Hack 2: Map Buying Process
How you want to sell is almost never exactly how the account wants to buy. Learn how they want to buy, how they actually buy, and then put in the work in to make your sales process work for them. I've seen reps lose slam-dunk deals in the early stages because they wouldn't bend their sales process to accommodate an extra 20 minute meeting. Don't let that be you.
Account Management Hack 3: Whitespace Analysis
Outlining what else your customers can buy from you is a fast way to fill your funnel. Whether it is driving further adoption, additional solutions, upgrades and maintenance fees, these all offer additional opportunities to enhance customer outcomes. This is an easy way to find low-hanging-fruit, and continue to grow your account relationship.
Account Management Hack 4: Network 3x3
Having only one or two contacts in a strategic account is dangerous. A good rule of thumb is to have at least 3 wide (verticals) and 3 deep (titles) as a starting point in your account plan. This will reduce your risk if your contact changes jobs, as well as provide more diverse perspectives.
If you're interested in more tips and tricks for account management, reach out to us for a free consultation to discuss your account management program, and enterprise sales strategy. We're here to help.