CAM Account Planning & Growth Strategy 1

Question 1

What is the primary purpose of an account plan in account management?

Accepted Answer

To provide a structured roadmap for growing and retaining a key account

Answer

An account plan serves as a strategic roadmap that aligns the account manager's activities with the goals of growing revenue and retaining the customer.

Question 2

Which framework is commonly used to identify growth opportunities within an existing account by mapping products/services against customer departments?

Accepted Answer

Whitespace Analysis

Answer

Whitespace analysis identifies gaps where additional products or services could be sold within an existing account, revealing upsell and cross-sell opportunities.

Question 3

An account manager notices a key account's annual revenue contribution has plateaued for two years. The BEST first step is to:

Accepted Answer

Conduct an account review to identify unmet needs and whitespace

Answer

Conducting an account review uncovers unmet needs and growth opportunities, providing the data needed before committing to a strategic response.

Question 4

In account tiering, which criterion MOST directly determines whether an account should be classified as 'strategic'?

Accepted Answer

The account's current and future revenue potential plus strategic fit

Answer

Strategic accounts are classified based on high current revenue, significant growth potential, and alignment with the company's strategic objectives.

Question 5

A 'land and expand' strategy in account management refers to:

Accepted Answer

Winning an initial smaller deal, then growing the account with additional products or users

Answer

Land and expand means securing an initial foothold in an account with a manageable deal, then systematically growing share of wallet through upsell and cross-sell.

(CAM) Certified Account Manager Practice Test

(CAM) Certified Account Manager Practice Test

CAM Account Planning & Growth Strategy 1