The Vital Importance of AccountAccount Account refers to a record of primary and background information about an individual or corporate customer, including contact data, preferred services, and transactions with your company. Planning

The key to nurturing and growing long-term customers
Account planning is a high priority for accounts

Account Planning

Each company must decide the criteria for assessing what are high-priority accounts – such as size, revenueRevenue Revenue is the amount of money a business generates during a specific period such as a year or a quarter; also called sales., longevity & future growth potential

At the beginning of the fiscal yearFiscal Year Fiscal Year is a financial accounting period of one year (that may or may not coincide with the calendar year), which is used by governments and businesses for taxation, budget planning, performance assessment, strategy formulation and other purposes., you need look at where revenue came from in the previous year, and where you believe it will come from this year.

To predict revenue from existing accounts – calculate your average churnChurn Churn is a term that describes the percentage of customers that leave or cancel a service or product within a given period of time. rate over 2-3 yrs and then calculate predicted revenue from existing accounts for the coming year and then reduce it by the average churn rate for a more realistic prediction.

“Net new sales” usually refers to new customerCustomer Customer is an individual or an organization that purchases a product or signs up for a service offered by a business. acquisition, but it should also include cross-sellingCross-selling Cross-selling B2B is when a customer purchases a product and they are offered a second product at a discount or as a reward. and up-selling to existing accounts.

You also need to consider whether there are any factors such as a coming price increase that would result in increased revenue from existing accounts without necessarily upsellingUpselling Upselling is a selling technique where a seller introduces a more expensive, an upgrade, or add-on to a buyer to increase the average order value. or expanding them.

Account Planning › The Basics

Analyze Your Accounts in your CRM

Analyze Your Accounts in your CRM

  • Does a specific account have real growth potential?

  • How much revenue did the account produce last year?

  • Is there potential to upsell or enlarge the account?

  • What is the strength of the relationship with the account?

  • Are there subsidiaries, other business units, or departments that could be good targets?

Account Planning › Specifics

Additional Resources