How often should you review your key accounts' goals and needs?

1 Why account reviews matter

Account reviews are not just a formality or a check-in. They are an opportunity to demonstrate your value, align your solutions with your accounts' objectives, identify new opportunities, address any issues, and foster loyalty and trust. Account reviews help you to understand your accounts' changing needs, expectations, and preferences, and to adjust your strategy accordingly. They also help you to showcase your achievements, highlight your impact, and reinforce your position as a trusted partner.

2 How often to review your accounts

There is no one-size-fits-all answer to how often you should review your accounts. It depends on several factors, such as the size, complexity, and maturity of the account, the length and type of the contract, the level of satisfaction and engagement, and the industry and market dynamics. However, a general rule of thumb is to review your accounts at least once a quarter, and more frequently if there are significant changes, events, or opportunities that affect the account. You should also consider the preferences and availability of your accounts, and respect their time and priorities.

3 How to schedule your account reviews

To schedule your account reviews effectively, you need to plan ahead and communicate clearly with your accounts. You should avoid scheduling your reviews too close to the end of the quarter or the year, when both you and your accounts may be busy with other tasks and deadlines. You should also avoid scheduling your reviews too far in advance, as you may lose relevance and momentum. A good practice is to schedule your next review at the end of each current review, and confirm it a few weeks before the date. You should also send a reminder and an agenda a few days before the review, and follow up with a summary and action items after the review.

4 What to include in your account review agenda

When conducting an account review, you should tailor the agenda to each account’s goals, needs, challenges, and feedback. Generally speaking, the agenda should include a review of the previous period to highlight achievements, results, and impact while acknowledging any challenges or gaps. You should also assess the account's satisfaction, expectations, and pain points while validating or updating their objectives and priorities. Additionally, you should present future plans that propose new solutions, opportunities, or improvements that align with the account's goals and needs. Lastly, confirm the next steps by agreeing on action items, responsibilities, timelines, and metrics as well as scheduling the next review.

5 How to conduct your account reviews

Account reviews should be more than a presentation or report; they should be a dialogue in which you listen, ask questions, and seek feedback. Additionally, use your account reviews to build rapport, show appreciation, and express gratitude. To ensure your review is effective and meaningful, be prepared, professional, and respectful. Utilize a clear and structured format such as a slide deck or document to guide your review and share data and insights. Incorporate a mix of quantitative and qualitative data such as metrics, testimonials, case studies, or stories to demonstrate your value and impact. Adopt a consultative and collaborative approach by focusing on solving problems, creating value, and delivering outcomes rather than selling products or services. Additionally, use a positive and proactive tone emphasizing the benefits and opportunities rather than the challenges or risks. Lastly, be flexible and adaptive when adjusting your pace, language, and content to suit the account's preferences and needs. By doing so you can strengthen relationships with key accounts, increase their satisfaction and loyalty, as well as grow revenue and retention.