The Importance of Account Planning for All Businesses

Authored by Catherine Sharman

Overview: What is Account Planning?

Account planning is a part of the advertising process that consists of finding and organizing consumer information, then discovering ways to utilize said information to better target them or retain them as customers. In other words, account planning introduces the consumer into the process of creating marketing strategies by incorporating their viewpoints into the creative team’s decisions. Building off this, the account planner in a company would be the point of intersection between the client, agency, and consumer. 

As businesses develop their marketing and advertising strategies, account planning should not be overlooked. The concept originated in the late 1960s in the United Kingdom. In the United States, account planning is a relatively new concept that was brought over by Jay Chiat in the 1980s. However, its novelty should not discredit its importance.

Representing the consumer in the marketing process is no small feat, so many tasks come with the role of account planner. The planner takes on some roles in the research and development process including market researcher, focus group moderator, and information center. When creating products and strategies, an account planner must be a brainstorming facilitator, futurologist, strategic thinker, and a social anthropologist. They must do all of this and more with the consumer in mind. 

Considerations for Businesses

Understanding consumers is crucial for any business when advertising. Businesses need consumers to become profitable. DDB London, an advertising company formerly known as Boase Massimi Pollitt, explains that account planning brings the consumer to the forefront of the process. All business should have one or multiple employees ready to take on the role of account planner to increase chances of success.

In order to involve consumers in the advertising process, account planners must try to think like their customers. It is important to understand the consumer’s feelings, motivations and habits. This will help advertisers implement marketing efforts that resonate with the consumer by knowing how they will react to certain advertisements. Account planners also must consider how the product fits into the consumer’s daily life. Putting yourself in the consumer’s position is a great way to understand how they are thinking. 

Reasons to have an Account Planning Department:

1.     To turn information into insights about consumers - Accurately interpret insights and advise creatives on how they should be used 

2.     Brand differentiation - Know your customers and know what they need you to be. Putting your customers at the forefront of the advertising process can help enhance strategies and make them effectively reach the target audience.

3.     To retain and improve relationships with existing customers (Katti 2023) - By fully understanding existing customers, businesses can anticipate their needs which will lead to higher retention rates 

Account Planning Trends & Statistics

Some industry companies have conducted surveys on the trends and statistics for account planning.

Altify’s “Account Planning Book of Evidence”  survey shows insights into the benefits of account planning. According to the 1,034 people surveyed, account planning exercises lead to a 75% better win rate. 55% of participants also note that account planning leads to better customer loyalty. 

Prolifiq.ai also surveyed individuals about the state of account planning in 2024. They found that 87% of people surveyed said account planning was important to their company. 

With account planning growing in popularity, it is expected that more statistics and trends will be seen in upcoming years. The fact that all existing statistics only show positive outcomes from account planning is very promising. This is more reason to implement account planning into your business. 

How CIAG Can Help

At Cambridge International Advisory Group, we can help your business with account planning. We are able to assist with marketing strategy analytics, and we can help you put your consumer in the forefront of your mind. No matter what industry your business specializes in, or the size of your business, account planning is an integral part of your advertising efforts. Let CIAG help you with this function and more.

To conclude, account planning is crucial when creating your marketing strategy.  Understanding the customer’s point of view will make your marketing more effective and help your business in the long run. 

Contact Information

@ciagconsulting | (415) 574-0263 

Cambridge International Advisory Group LLC | Business Consulting  

Sources

Katti, M. (2023, March). Account planning - A Strategic Approach to Grow Your Key Accounts. DemandFarm. https://www.demandfarm.com/blog/account-planning/#:~:text=A%20recent%20Account%20Planning%20Book,overall%20purpose%20of%20account%20planning. 

Keehn. (2024, February 23). 2024 State Of Account Planning: Survey Results. Prolifiq. https://prolifiq.ai/state-of-account-planning/