5 Reasons Why Your Strategic Accounts May be the Key to Your Future in a Challenging Economy

We someitmes learn the hardway - I have! We spend endless hours trying to close new clients and often disconnect from our best revenue opportunities. Why not keep what we have and grow those "strategic accounts" first and then we can add "new business" from new accounts to make 2008 a very successful year! Strategic Accounts are often great "incremental" revenue sources because:

1. They already know your products, services and commitment to them!
2. We often already have "strategic contacts / relationships" in these accounts!
3. We know them really well - where to go - how they buy and hopefully what they need!
4. We often have contracts in place to feed off of!
5. There are ready-made "proof sources /references" within the account!

So the next thing I am going to do is have team meeting this Friday and ask my team; which of our strategic accounts can deliver our "current revenue gap" (what we have versus what we need to exceed plan) - tell you what happens later!

7 Questions for Global Strategic Account Managers

Tips for Strategic Account Management - Some thoughts for you to ponder as I observe global teams "in-action":

1. Do you really have a documented score on the "Voice of Your Account"?
2. Is your team functioning globally or just regionally?
3. Are their rewards for cross-functional account team members?
4. What metrics tell you if your team is succeeding or failing?
5. Does your account know you have a strategic account team - are they engaged in the process?
6. Is the strategic account plan "in-action" or is it a file document?
7. Is your team using all of their technology tools to collaborate globally as a team?

Please share your thoughts on any of these key points for global strategic account management - all ideas and feedback are appreciated!