The Hairy Business of Classifying Accounts
In 40 seconds
No matter how a business calls each of its accounts, accurate categorisation is critical for effective sales operations:
Strategic accounts are large or high-revenue clients with values aligned with the goals of your company. Criteria include:
– Opportunities for up and cross-selling
– Strategic value in keeping it away from competitors
– Sharing of data for optimisation
Major accounts differ from strategic accounts in:
– They make fewer purchases and are often driven by procurement processes
– Less loyal
– Usually relevant to a particular business unit
– Competitive environment
Key accounts are strategic partners who contribute to the long-term success of a seller through mutual exchange of value.
– They have a partnership mentality and premium value
– They bring sustainable, recurring revenue
– They share data for joint decision-making
The Hairy Business of Classifying Accounts Read Post »
