Common sense also tells us that we will be more effective with existing client accounts, where we already have a deeper level of knowledge.
Why does it fail?
What skills are required?
Who needs to be involved?
The simple answer, and something we’ve observed even in large tech corporations, is that account planning is often perceived as a mandatory task. It’s done solely to meet a requirement and ends up archived in a document that is rarely revisited.
This brings us to reflect on the importance of ensuring that an account plan, if developed properly, becomes a valuable tool for uncovering new business opportunities aligned with the client’s needs. Some key questions we should ask ourselves include:
• Do I know my client’s industry and business? Do I understand how they create value and, ultimately, how they make money?
• What solutions from my portfolio can I offer that truly add value to their business?
• Am I leveraging my company’s business ecosystem to better understand my client? Do I consider those members of my organization who have meaningful interactions with my client’s organization?
• Do I have the discipline to follow through on the plan I’ve established?
• Am I prepared to replan and adjust my strategy as needed during the process?
• Am I storing and updating information in the CRM in a way that allows for efficient knowledge sharing and utilization?
The absence of these elements, in my view, are “derailment factors” that will likely cause account planning to fail and forfeit the potential it offers. It’s important to remember that deep client knowledge is built over time and requires constant, collaborative effort.
I invite you to reflect on these aspects and assess where you stand. Share your experiences and thoughts on the topic in the comments. I’d love to hear your perspective!
