An account is a record containing exhaustive information about a current or prospective customer.
This record typically includes details like contacts, background info, all previous interactions with the company, or even personal preferences and behavior patterns.
The term may be applied to a whole organization. In this case, a sales account may also include the details of their decision-making process, your key competitors they are considering, and your strategy to win and retain them.
- Account planning refers to a process of mapping out such a record.
- Target accounts are the prospects that best match your ideal customer profile and have the highest revenue potential.