In the ABX engagements we experience, we are asked, how do we create an account plan for our accounts we want to focus on?
In this blog, here is a framework to consider on Account Planning
- Account Overview – this is firmographic type information about the company size, industry and qualitative information around the relationship status.
We have heard others talk about a SPICE analysis to help here.
- Situation: current state of the account
- Pain points: challenges within the account
- Impact: desired outcome for the account
- Critical events: desired timelines or triggers on decision making
- Evaluation process – how does the org make a change.
- A demand map that maps key stakeholders and decision makers within the account can be helpful to include their roles and engagement levels.
- Goals and objectives: what is your goal within that account – is it revenue growth, product adoption, or other metrics? These are your success metrics or KPIs everyone should be focused on.
- What is the engagement strategy? A tailored approach for reaching your key influencers. Remember the buying committee is expanding.
- What is the action plan? This is critical around executives as well. Everyone internally needs to know what next steps are.
- What resources are needed to pull that action plan off? Materials, case studies, tools, and people to pull off the plan.
- What is the timeline to pull of the plan you just created?
- Competitive positioning – how do your competitors stand up to this test of time.
For strategic or high-value accounts, you might consider creating more detailed, customized account plans. Some organizations offer account plan creation as an entitlement for top-tier accounts, which can serve as a simplified mini account plan to guide engagement efforts.
The key is to keep the account plan simple and focused on actionable insights that will drive meaningful engagement and growth within the account.