PHASE 2: ACCOUNTS
Properly align your sales resources to your highest value accounts.
Aligning the top talent in your sales organization to your top accounts is the fastest way to produce growth. Having a deep understanding of your customer’s ability to spend (and over what time frame) gives you a competitive advantage when making allocation decisions against market opportunities.
1. You have defined your Ideal Customer Profile (i.e., what defines your ideal prospect/customer).
2. Your Ideal Customer Profile is maintained on a regular basis using data analytics.
3. You have scored each prospect/customer relative to your ideal customer profile.
4. The potential spend for each prospect/customer is quantified and known by the sales team.
5. Your Customer Acquisition Cost (CAC) is known by account.
6. The Customer Lifetime Value (CLTV) is known by account.
7. You have defined the Propensity-to-Buy for each prospect/customer (i.e. how likely is each prospect/customer to buy from us).
8. You use a RAD (Retain, Acquire, Develop) model to define the sales and marketing motion for each account.
9. You have matched sales channel to account using customer acquisition cost and customer lifetime value.
10. You assign your best sales talent to the accounts with the most potential.
• Ideal Customer Profile (ICP)
• Propensity-to-Buy Formula (PtB)
• Prioritized Account List
• Customer & Prospect Account Potential
• Define Sales Motion by Account (RAD model)