CAM Account Planning & Growth Strategy 2

Question 1

What does 'share of wallet' mean in the context of account management?

Accepted Answer

The proportion of a customer's total spend in a category that goes to your company

Answer

The percentage of a customer's budget spent on entertainment

Answer

The customer's credit limit with your organization

Answer

The total lifetime value of a customer's first contract

Question 2

An Executive Business Review (EBR) is BEST described as:

Accepted Answer

A strategic meeting with a key customer to review value delivered and align on future goals

Answer

An internal financial audit of account profitability

Answer

A quarterly HR performance review for account managers

Answer

A contract renewal negotiation session

Question 3

Which of the following is an example of a cross-sell opportunity?

Accepted Answer

Offering a customer who buys CRM software a complementary email marketing platform

Answer

Encouraging a customer who buys CRM software to upgrade to a premium tier

Answer

Reducing contract length to lower the customer's commitment risk

Answer

Adding more user licenses to an existing subscription

Question 4

In account growth planning, a 'champion' within the customer organization is BEST defined as:

Accepted Answer

An internal advocate who promotes your solution and facilitates access to decision-makers

Answer

The customer's highest-ranking executive who approves contracts

Answer

The customer's procurement officer who manages vendor relationships

Answer

A third-party consultant hired by the customer

Question 5

Which account growth strategy focuses on selling MORE of the same product to the same customer (e.g., additional licenses or seats)?

Accepted Answer

Upsell

Answer

Cross-sell

Answer

Whitespace expansion

Answer

Horizontal expansion

Question 6

A customer health score in account management is PRIMARILY used to:

Accepted Answer

Predict the likelihood of a customer renewing, expanding, or churning

Answer

Assess the physical wellness programs offered to customer employees

Answer

Measure the account manager's productivity

Answer

Track the customer's financial credit rating

Question 7

When prioritizing which accounts to develop growth plans for, account managers should PRIMARILY consider:

Accepted Answer

Revenue potential, strategic value, and likelihood of expansion

Answer

Alphabetical order of company names for consistency

Answer

Accounts with the highest number of support tickets open

Answer

Accounts that have been customers the longest regardless of revenue