How do most companies define Strategic Accounts?
• Strategic accounts are non-balance sheet assets that require ongoing investment and management attention. • Strategic accounts are the important clients that drive your business to achieve its long-term strategic and financial goals. • Strategic accounts work jointly with suppliers to ensure each organization’s long-term destiny and success. • A proven definition: Strategic accounts are the few accounts in your business which would be painful to lose or which can, properly managed, improve your situation dramatically. • As a general rule, strategic accounts are the 5% of your accounts that provide about 50% of your revenue. Focusing on these accounts synchronizes your business with the market. • The best way to identify strategic accounts is to profile the ideal customer in terms of long-term profitability and strategic impact and rate your leading accounts against this profile.
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