More sales teams are adopting the idea that formulating account strategies is a worthwhile undertaking. That’s the good news. The bad news is too often this idea is viewed as a once in a year activity. Strategy plans are created, entered into a CRM system, and that is the end of that.
It’s June. We’re halfway through the year. Hopefully you have been revisiting those plans as the months have gone by. But if you haven’t, this would be a great time to take a second look at your strategies. After all, it’s doubtful that the accounts have remained the same – corporate initiatives change, major players come and go, competitors add new products, and changes occur in the economic environment.
As the year progressed perhaps you updated the strategy embedded in the CRM system, … but have you stepped back and fundamentally thought about the sales strategy being pursued in the account. Is the plan of action crafted a few months ago still the best strategy?
Regardless of the institutional timetable for formally reviewing account strategies, it is important for the sales rep to continuously capture information about their accounts … analyze the information and adapt their sales strategy.
Just entering new activity information into a CRM system isn’t enough. Analyzing and adapting requires rethinking what you are doing in the account. Accounts are dynamic hence sales strategy cannot be stagnant. You have to know what’s changing and then answer the simple question – So What?
