Are My Largest Accounts at Risk?
Your strategic accounts are more vulnerable than you think. They're at risk because relationships change, and most companies don't notice until it's too late.
A large, uniform company approached us seeking negotiation training. When we dug in to understand why, we found that a competitor had come in with a lower price, so they were meeting with the client to discuss cutting prices. In this case, the problem was positioning, not pricing. They weren't well positioned, so the client didn't see the value they were bringing. Maybe they weren't bringing that much value anymore, and the client saw them as interchangeable with a cheaper vendor.
Like this company, you may think your largest accounts are safe. If you aren't doing the work to stay well-positioned and informed, your accounts aren't safe.
Your largest accounts generate steady revenue, your team delivers solid work, and everything seems fine. Underneath that stability, you might be losing ground.
If you're not solving their problems, someone else might be.
Relationship Gravity: Why Strategic Partnerships Drift Down
Relationships have gravity, and over time, they pull downward.
You might have started as a strategic partner. Someone at the executive level brought you in to solve a big problem. You had access to decision-makers who valued your input on their business challenges.
That was three years ago, maybe five, maybe even 20 years ago. Your contact is now the operations manager, and you're responding to purchase orders. The conversations are about delivery dates and pricing instead of solving business problems. You've drifted from strategic to transactional.
This happens slowly, so slowly you don't notice until you're already there.
Here's why it happens:
The executive who championed your company moves on, and the new person has their own vendor relationships. They don't know your history or owe you anything.
Priorities shift. The problem you solved isn't the problem anymore, and the company is focused on something new. If you're not connected to those new initiatives, you become less relevant.
Your team gets comfortable. When an account is stable, sellers focus elsewhere and chase new business rather than do the relationship work that made the account stable in the first place.
You're still doing business with them, but you're vulnerable. One competitive bid, one relationship change, or one reorganization is all it takes.
The Competitive Threat You're Missing
Accounts can stay stable for years, even decades. Revenue keeps coming in, relationships seem solid, and everything feels fine. But revenue can stay stable while your positioning deteriorates.
The problem is that you're leaving the account vulnerable. At any point, the situation could change. A new competitor could show up, leadership could change, or the budget could get tight. When that happens, you find out how well-positioned you really are.
Growing an account means solving new problems, understanding what's changing in their business, and having relationships across the organization so you know about opportunities before they become RFPs.
Your competitor could be doing that work right now. They could be building relationships with new leaders, learning about initiatives you don't know exist, and positioning themselves to solve problems you haven't identified yet.
You think you're safe because you've been working with this account for years, but your competitor only needs one good relationship and one unsolved problem to get in the door.
Once they're in, they may build relationships with people who haven't been getting your attention, learn their business, and solve their problems.
Multi-threading isn't optional. One good relationship won't protect you. You need connections across the organization at multiple levels and in multiple departments, so when your main contact leaves or gets promoted or stops returning calls, you're not starting over.
Even if you have a dozen relationships in an account, if they're all at the operational level or all in one department, you're still vulnerable.
What Happens When You Lose a Strategic Account
If a strategic account makes up a large percentage of your business, losing it could mean your company doesn't survive. This is especially true if you planned hiring and production for that client and invested in anticipation of that revenue.
To stay afloat, you will have to scramble. You may have to lay off people until you recover the revenue. In any case, you will need to generate revenue from existing or new accounts.
How to Protect Your Strategic Accounts
You can't prevent every loss. Some accounts will leave no matter what you do, but you can significantly reduce your risk. For those that you lose despite the effort, you're more likely to predict the loss and work to replace the revenue before it's gone.
First, identify which accounts are strategic. Focus on the ones that are too big to lose.
Second, map your relationships. Who do you know? Who should you know? Where are the gaps? If your main contact left tomorrow, who would you call?
Third, understand their business. What are they trying to achieve? What problems are they facing? What initiatives are coming down the road? If you can't answer these questions, you're already at risk.
Fourth, solve problems before they ask. Don't wait for them to come to you with a need. Be proactive. Bring ideas. Show them opportunities they haven't seen. That's what strategic partners do.
This requires a formal approach that's deliberate without being complicated. Create a plan for each strategic account that addresses relationships, positioning, and opportunities.
Most companies rely on sellers to "manage relationships" without giving them a framework or holding them accountable. Instead, think of the account manager as the quarterback and define roles in the relationship for all the important players, including the CEO and COO.
If you want to keep your strategic accounts, you need a system that builds and maintains relationships across the organization, keeps you positioned as a strategic partner rather than a vendor, and helps you identify and pursue growth opportunities before your competitors do.
Once you have that system in place, strategic accounts become more stable and are more likely to grow. You stop reacting and start leading while solving bigger problems and growing revenue.
