Account Planning has been around for decades, building and cultivating healthy relationships with key customers for the exponential growth of the organization. It is the process of building strategic plans to develop and nurture a value-driven relationship with your existing clients that can help in long-term development and retention. Besides, an effective account plan helps account managers to gain a deeper understanding of the client, thereby maximizing the revenue potential.
Every small, medium or large company considers account planning to be the key to increasing revenue, profits, and customer satisfaction in the organization. Moreover, account planning is essential for every business to grow, irrespective of its size and nature, because of its impacts such as:
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Increased understanding of client's business
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Better closure of deals
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Enhanced size of the deals
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Shorter sales cycle
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Better access to the decision-makers
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Identify non-competitive deals
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Better customer loyalty
Even though the importance of account planning is unquestionable, its implementation still shows some ambiguity concerning its overall purpose. However, a sales intelligence infused actionable org chart of key clients helps B2B marketers with a clear understanding of its objective and expected outcomes. Account managers get enabled to create an impactful impression on their clients by having a profound knowledge of clients' business solutions, requirements, and challenges.
When it comes to B2B sales, it is not necessary that your immediate point of contact would be the key decision maker as well. They may not even have the strategic insights required to frame winning value propositions for the client. In this case, a transparent, detailed, updated, customized, and actionable org chart will allow you to visualize the organizational hierarchy clearly. This will allow managers to identify, build, and nurture the right relationships with key customers.
Besides that, a customized and actionable org chart helps account planning in several ways, such as:
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Provides a visual & graphical representation of the organization with a complete organizational structure.
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Enhance cross-sell and upsell within the key accounts.
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Help account managers with multiple entry points to the decision-maker.
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Help to explore new opportunities and understand the prerequisites of key customers.
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Provide relevant solutions and embrace relationships in the long run.
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Grow the strategic relationship with the key accounts.
To be precise, these actionable org charts yield huge value-driven outcomes by reducing the time for plan development. Its interactive, updated, and accurate insights on key customers are highly effective for account planning, resulting in reduced cost acquisition and increased revenue generation. Perhaps that is why account managers are able to build lasting relationships with the decision-makers of the organization.
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