Account Management: What is Account-based Selling?

The video tutorial explains account management as a long-term process of building relationships with prospects and customers to maximize sales opportunities. It covers six core elements: strategy, portfolio, account plan, relationships, systems, and process review. The tutorial emphasizes the importance of aligning business strategy with sales activities, optimizing account portfolios, developing detailed account plans, and building strong customer relationships. It also highlights the need for effective systems and regular process reviews to improve account management practices.

What is the primary goal of account management?

• To reduce costs

• To increase product variety

• To build long-term relationships

• To make quick sales

Which element is crucial for aligning sales activities with business goals?

• Account plan

• Portfolio management

• Business strategy

• Customer feedback

What should be regularly reviewed to ensure optimal resource deployment?

• Sales targets

• Market trends

• Account portfolio

• Customer satisfaction

What is the purpose of an account plan?

• To set sales targets

• To develop the account and relationships

• To analyze competitors

• To manage inventory

Why is it important to build relationships with decision-makers?

• To understand their personal preferences

• To influence buying decisions

• To gather market data

• To offer discounts

What role do supporting systems play in account management?

• They increase product quality

• They replace human interaction

• They provide administrative support

• They automate sales processes

What should be included in a process review?

• Sales forecasts

• Lessons learned

• Customer testimonials

• Competitor analysis