The Top Four Reasons Strategic Account Plans Fail

Posted by AppBuddy on Jul 6, 2017 3:10:08 PM | Share

You have it all: a strategic account plan, a top-notch product portfolio, and executive support across the organization. Yet, you still fall short of your goals and miss opportunities. That’s because, while these things are important, you are missing a solid execution plan. In fact, most account management plans fall apart in the execution phase.

Effective account management requires an executable strategy, a solid execution process and the right technology to support both your strategy and execution. If the results from your account planning are not optimal, chances are your account planning is lacking one of these components. Here’s a deeper look into the top reasons strategic account plans fail:


The account management strategy lacks an achievable execution plan

Your strategic account plan might be comprehensive, but if it doesn’t thoroughly address an execution plan, your sales and account teams are likely to fail. This is especially true if your execution plan is not easy to follow. An execution plan must address workflows for every process and for every user to ensure complete implementation of your strategy. Everyone knows that sales would rather be engaging customers and selling, rather than logging their progress and updating account information in CRM systems. Therefore, it’s essential to make the process of updating their account data as easy as possible so that the whole team can seamlessly execute.


Ineffective collaboration across the account team

The inability for your team to collaborate effectively is another reason account plans aren’t executed according to plan. To prevent this, make sure your account management plan addresses team handoffs, and real-time visibility of account data to all members of the account team. That means all members of the account team, from sales to sales engineering, support, delivery, customer service, and customer success, need to collaborate seamlessly to execute in harmony. Furthermore, to collaborate effectively all members of the account team must have access to work with the same data and within the same system, with a holistic view of all the account information available.


Siloed account data, living in multiple systems

Finally, ensuring that all your account data lives within one system of truth, and eliminating rogue spreadsheets or presentations will ensure that all users have access to the right data at the right time. The reality is that most sales organizations lack sophisticated tools to properly integrate account information from various sources. Account planning data that’s saved across various formats and systems make it virtually impossible to create executable account plans or a single source of truth for the entire company to coordinate high value actions around. Overcoming data and system silos not only ensures you can provide a 360-degree view of your accounts to all members of the account team, but it ultimately ensures a successful implementation of your overall strategy.


Inefficient technology that doesn’t support your strategy

Lacking the tools to orchestrate all your account planning activities is a common challenge. Your account management technology should enable easy, efficient, streamlined processes for updating and accessing account data by any involved function within the company. It should also ensure that each member of the extended account team has access to the account data specific to their role. Without the right technology tools, companies fail and fall short of their sales goals because they lack full visibility and streamlined processes to manage and collaborate on their accounts.

No matter which account planning methodology you apply, you can avoid these common execution pitfalls. Read the white paper, Strategic Account Plans: Why They Unravel at the Execution Stage and How to Avoid It, to learn how to quickly translate your strategy into action!

Download the white paper to learn:

  • Why strategic account plans fail in the execution phase
  • How to avoid losing opportunities from poor account planning
  • Best practices leading organizations use to succeed with their account plan execution
  • How to leverage technology for better execution and streamlined processes  

Salesforce, Account Planning, Account Management, Strategic Account Plans, CRM, SAM, Sales

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