Develop comprehensive account plans

Introduction

Effective expansion strategies require meticulous planning and collaboration across teams. Comprehensive account plans serve as the blueprint for identifying and executing on expansion opportunities within your customer base. These plans align success objectives with expansion goals, ensuring that all stakeholders are working towards the same outcomes. By developing detailed account plans, you can better understand your customers' needs, identify upsell and cross-sell opportunities, and foster stronger customer relationships. This article will guide you through the process of creating comprehensive account plans, building on our previous efforts in orchestrating targeted campaigns and segmenting customers for maximum impact.

Why does this matter?

Developing comprehensive account plans is essential for several reasons:

• Strategic alignment: Ensures that all teams are aligned on the same goals and working collaboratively towards achieving them.

• Targeted growth: Identifies specific areas for upsell and cross-sell opportunities within existing accounts.

• Enhanced customer relationships: Demonstrates a deep understanding of customer needs and a commitment to their success.

• Proactive management: Allows for better anticipation of customer needs and proactive engagement to drive expansion.

How to get started

To effectively develop comprehensive account plans, follow these steps:

Step 1: Gather and analyze customer data

1. Identify key data sources

   • Customer portfolio data: Gather information on current products and services utilized by each customer.

   • Usage and engagement metrics: Analyze how customers are using existing products and services.

   • Customer health scores: Use health scores to understand customer satisfaction and engagement levels.

2. Conduct a needs assessment

   • Customer interviews: Engage with key stakeholders to understand their current challenges and future needs.

   • Survey feedback: Collect feedback through surveys to gain insights into customer satisfaction and areas for improvement.

Step 2: Define account goals and objectives

1. Set clear objectives

   • Expansion goals: Define specific goals for upsell and cross-sell opportunities.

   • Success milestones: Establish key milestones that indicate progress towards these goals.

2. Align with customer success plans

   • Integrate success objectives: Ensure that account plans align with existing customer success objectives.

   • Collaborate with teams: Work with customer success, sales, and marketing teams to ensure alignment and support.

Step 3: Create detailed action plans

1. Develop strategic initiatives

   • Upsell and cross-sell strategies: Create specific strategies for introducing additional products or services.

   • Customer engagement: Plan regular engagement activities to build stronger relationships and demonstrate value.

2. Assign responsibilities

   • Team roles: Clearly define the roles and responsibilities of each team member involved in executing the account plan.

   • Timeline: Establish a timeline for each initiative, including key milestones and deadlines.

Step 4: Monitor and adjust plans

1. Track progress

   • Performance metrics: Use dashboards and reports to monitor the progress of account plans and initiatives.

   • Regular reviews: Schedule regular reviews to assess progress and make necessary adjustments.

2. Refine strategies

   • Feedback loops: Gather feedback from customers and internal teams to continuously improve account plans.

   • Adjust objectives: Adapt goals and strategies based on new insights and changing customer needs.

Gainsight features you'll need

• Scorecards:  To track customer satisfaction and engagement levels.

• Journey Orchestrator: For automating engagement activities and tracking progress.

• Dashboards: To visualize key metrics and monitor the progress of account plans.

• Success Plan: To align account plans with customer success objectives and track milestones.

What’s next?

With comprehensive account plans in place, the next step is to foster collaboration between customer success and account teams. This collaboration is crucial for ensuring that all stakeholders are aligned and working together towards achieving expansion goals. Our upcoming article will guide you through best practices for fostering effective collaboration and driving coordinated efforts for growth.

Further reading and inspiration

• Pulse Video: Best Practices for Effective Success Planning

• Blog: Why Customer Success Should (and Shouldn’t) Own Account Management