CAM Account Planning & Growth Strategy 2 — Questions and Answers
Question 1: What does 'share of wallet' mean in the context of account management?
- The percentage of a customer's budget spent on entertainment
- The proportion of a customer's total spend in a category that goes to your company (Correct answer)
- The customer's credit limit with your organization
- The total lifetime value of a customer's first contract
Correct answer: The proportion of a customer's total spend in a category that goes to your company
Share of wallet measures how much of a customer's total spending in a given category is captured by your company versus competitors.
Question 2: An Executive Business Review (EBR) is BEST described as:
- An internal financial audit of account profitability
- A strategic meeting with a key customer to review value delivered and align on future goals (Correct answer)
- A quarterly HR performance review for account managers
- A contract renewal negotiation session
Correct answer: A strategic meeting with a key customer to review value delivered and align on future goals
An EBR is a structured, executive-level meeting focused on demonstrating ROI delivered, aligning on business objectives, and co-creating a roadmap for future value.
Question 3: Which of the following is an example of a cross-sell opportunity?
- Encouraging a customer who buys CRM software to upgrade to a premium tier
- Offering a customer who buys CRM software a complementary email marketing platform (Correct answer)
- Reducing contract length to lower the customer's commitment risk
- Adding more user licenses to an existing subscription
Correct answer: Offering a customer who buys CRM software a complementary email marketing platform
Cross-selling involves offering a different, complementary product or service to a customer, as opposed to upselling which increases the value of the existing product.
Question 4: In account growth planning, a 'champion' within the customer organization is BEST defined as:
- The customer's highest-ranking executive who approves contracts
- An internal advocate who promotes your solution and facilitates access to decision-makers (Correct answer)
- The customer's procurement officer who manages vendor relationships
- A third-party consultant hired by the customer
Correct answer: An internal advocate who promotes your solution and facilitates access to decision-makers
A champion is an internal ally within the account who believes in your value, actively promotes your solution internally, and helps navigate the buying organization.
Question 5: Which account growth strategy focuses on selling MORE of the same product to the same customer (e.g., additional licenses or seats)?
- Cross-sell
- Whitespace expansion
- Upsell (Correct answer)
- Horizontal expansion
Correct answer: Upsell
Upselling involves increasing the customer's investment in the existing product, such as adding more users, storage, or upgrading to a higher tier.
Question 6: A customer health score in account management is PRIMARILY used to:
- Assess the physical wellness programs offered to customer employees
- Predict the likelihood of a customer renewing, expanding, or churning (Correct answer)
- Measure the account manager's productivity
- Track the customer's financial credit rating
Correct answer: Predict the likelihood of a customer renewing, expanding, or churning
Customer health scores aggregate usage, engagement, support, and satisfaction signals to give account managers early warning of churn risk or expansion readiness.
Question 7: When prioritizing which accounts to develop growth plans for, account managers should PRIMARILY consider:
- Alphabetical order of company names for consistency
- Revenue potential, strategic value, and likelihood of expansion (Correct answer)
- Accounts with the highest number of support tickets open
- Accounts that have been customers the longest regardless of revenue
Correct answer: Revenue potential, strategic value, and likelihood of expansion
Prioritization should be data-driven, focusing resources on accounts with the highest growth potential and strategic alignment to maximize ROI on account management effort.
CAM Account Planning & Growth Strategy 2
What does 'share of wallet' mean in the context of account management?