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Both account planning and account management belong to account services. They are part of one of the largest departments in any agency, and they bring together the creative department and the client.
Their role is to establish a good relationship with clients and keep work flowing into the agency. Writing briefs, meeting with clients and taking requests from work are all their duties.
So what is the main difference between those two? Let’s find out!
What Is Account Planning?
Sales experts must first choose the right customers, explore their needs, prepare an action plan, cooperate with the customer, and rise to the level of a trusted consultant to effectively execute an account development strategy.
While larger agencies have departments dedicated only to account planning, smaller ones often shift their work to account managers or directors. It shows that they are sometimes unaware that account-based marketing is the key to success.
Main Target Of Account Planning
Consumers are the main target of account planning, and account planners have to be sure of consumers’ needs.
They are critical thinkers and researchers with grandiose strategic plans, and a strategic plan they strive to is partnering with the consumers, not trying to sell. The transactional process is not what they do; they try to start a strategic partnership with a consumer.
When creating an account plan, you must seek to understand your customer’s business, and you will succeed by identifying their problems, key initiatives, and challenges.
Your job is to deliver value that helps them achieve their goals and increase sales.
Growing existing accounts require account planning tools. They are part of sales enablement, and they capture critical information and provide consistent value.
Sales enablement is content that sales will deliver to the buyer and give it the most promising practices, research and tools that sales will consume internally.
What Is Account Management?
Account management is the main point of contact between one or two accounts in marketing, and their duty is managing that account and maintaining excellent client relationships. Here are some roles that account management do:
- writing creative briefs
- approving payments
- establishing budgets with client
- resolving conflicts
- making sure that everything is delivered on time
- creating contracts and their renewals
- providing input on all account activity
Manufacturers, wholesalers, and retailers participate in a vertical marketing system’s production and allocation process. Therefore, business proprietors can handle their businesses efficiently and obtain a more substantial market share.
Account managers know more about the specific accounts than anyone else in the sales department and even the whole agency.
A vertical marketing strategy eliminates competition and conflict that often appear between companies. As a result, there’s better efficiency and a reduction in product costs.
Conclusion
The conclusion is that the account manager knows what the client wants, and the account planner knows what the consumer wants.
So that is the main difference between account planning and account management.
While account planners care about consumer and creative strategy, account managers care about client relationships and business strategy. Account planners are obliged to take research and provide insight into strategy.
As you can see, account planning and management can be a massive asset to your business. It allows you to reach deep into consumers’ and clients’ profiles, which can help increase close rates.
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