Go Deeper with 4-Dimensional Account Profiling

Go Deeper with 4-Dimensional Account Profiling

Brian Gardner No Comment

One-dimensional account profiling, typically using A, B, C or D based on the current business from each customer, is a step in the right direction. But if you want to take a more proactive approach to uncover new opportunities with existing and potential customers, take your profiling a step further.

With SalesProcess360’s 4D account profiling, we ask four questions about the company:

Question 1: What is the account’s current sales volume with your business: A, B, C or D? Each bucket represents a dollar range that will be specific to your company. Look at sales and bookings to determine each customer’s rank.

Question 2: What is the customer’s potential volume? Using the same A, B, C, D scale, decide what that account’s potential volume is. Making this determination isn’t easy. It will require a salesperson to dive deeply into each account.

Question 3: What products and services does the customer currently use? Determine this by looking at the standard product and service codes in your CRM system or other documentation. If this is not something you’ve set and tracked to this point, start doing so now.

Question 4: What products and services might the customer want to purchase at a later date? (In other words, the potential items you could sell to the customer?) Once again, a salesperson must have a deep understanding of the account to answer this. Consider what industry the customer is in or what applications they have for the other products/services they purchase from you. Link any potential products or services to this customer.

Although answering these questions may require extensive work on the part of your sales team, doing so is well worth it. Once the questions have been answered, build an account matrix to help identify opportunities for future growth.

Just think, one of the companies with which you already have a relationship, could hold the potential to be a high-growth account.

Learn more about taking a proactive approach to sales opportunities in current and potential accounts in our recent free webinar: Proactive Sales Opportunity Management: 3 Takeaways in 30 Minutes, available on-demand.

Watch this video to learn more about 4D account profiling:

Figure out where to start with your company with the SalesProcess360 CRM Audit. Learn more.

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Get insights based on decades of experience in industrial markets, including why you should think beyond outside sales, how to take a proactive approach to sales opportunities and how to let sales process drive your CRM wish list.