ns, you can increase the chances of building deeper partnerships and larger deals.
Future opportunity growth. Consider growing product lines and sales potential vs. a gradual decline or potential loss of business in an account.
Account profitability scorecard
A focused and profitable account management strategy is paramount to maximizing retained revenue and profitability. However, according to a recent survey of sales leaders, the account planning process isn’t adding tangible value to these activities.
Sellers targeting dimensional account management can combat this trend by using an account profitability scorecard to help make data-driven decisions. This account-centric, profit-driven approach helps organizations establish and manage their key accounts.
Key account profitability is determined by profit dollars, and hinges on average profitability scores that sales personnel assign to their accounts. But factors other than average profit dollars can also be used, such as product purchases, organizational values and add-ons (upsell, support subscriptions and renewal of subcomponents of a product purchased), to get a fuller view of account profitability.
We advise sales organizations to invest in a single account management program that defines a successful sales process and sales force automation to help sellers target customers worth hunting for, and ultimately deliver outstanding performance across multiple new and existing customer interactions.