Customer focus and research have always played an important role in business development and management. Depending on the scale of your business, in many situations you may be dealing with several clients at the same time. While every client is important, different clients bring in different requirements and revenues to the table. Your planning, supply, and marketing should vary accordingly. Managers may spend hundreds of hours researching and analyzing each customer. Organizing the information into an accessible format can simplify the subsequent planning program for the business. Many companies, therefore, invest in an account planning tool.
The purpose of an account planning tool is to develop an action plan for each client based on their needs. Accounts essentially refer to large customers who generate a significant portion of your company?s revenue. You will use the planning tool to identify various elements of the client?s business. The key components of a planning tool will include:
- Description of the company
- Chief decision makers within the organization
- The amount of revenue generated from the client
- Future revenue potential
- Goals for the future
- Strategic action plan for the client.
Once you collect the data and set up the accounting tool, you will have access to all the information within minutes. You can create powerful business proposals within a short time. You can also access all the data with ease right before a meeting. An account planning tool is not expensive, and you do not have to invest in a new piece of equipment. You can simply add the tool to your existing computer. You can also estimate the possible revenue of your company in the near future, and plan your expenditure and investments accordingly. You can use the tool for internal communication as well during business meeting and strategy development.
Many managers are overwhelmed by the amount of data they need to process every day. If you have some important, revenue generating clients, then keeping track of them can be stressful. The right tool can help your business move in the right direction, and achieve all the goals in the forthcoming years. Choose your product carefully for best results, because a little planning can go a long way towards the success of your organization.
Source: http://blog.demandmetric.com/2012/12/14/account-planning-tool-for-strategic-business-improvements/
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