Salesforce Account Management: Overview, Best Practices, & Why You Really Need It?

Updated on Apr 18th, 2024


Companies are putting a lot of emphasis on customer service in the first place, using it to measure how they do differently with their rivals. Any business which has been in the industry for quite a long is likely to encounter problems in managing accounts. They have already realized how challenging it is to monitor and maintain all their accounts and interactions with customers with a multitude of company references. There are several solutions to account management, like PowerPoint, Excel, and third-party applications, including compatibility with various screens. This has allowed teams to work together on haphazard plans, culminating in a chaotic customer experience and missed opportunities. But you know what; you can overcome all these by using salesforce account management.

Now many organizations, companies, and businesses are using salesforce for account management. With salesforce account management, you can compile all the information, process it, and transmit all primary contacts and reports in one location. It correctly categorizes and helps you organize your contacts in a best-automated manner; also, it makes general business operations substantially simpler.

In this blog, we have listed an in-depth overview of account management in salesforce, salesforce account management best practices, and most importantly, why you need it.

So, read below to grasp those facts and realities about salesforce account management.

Let’s start with the basics first.


What is salesforce? What is salesforce account management?

Salesforce is among the globe’s biggest and most powerful technologies, such as cloud platforms. Similar to the cloud integration services. Salesforce CRM and salesforce services give businesses and companies many capabilities that their people and customer value against their rivals.

Well, okay but, what is salesforce account and account management in salesforce, exactly?

A salesforce account may well be a company, an entity, class of people, or some other business entity you’re dealing with. Salesforce account types help to store information not only about your suppliers and employees but more about rivals, lenders, distributors, and other such groups with whom you might communicate in your workflow.

Salesforce accounts also contain valuable details, such as customer-related records, who last talked to the client, and perhaps even what they have spoken about. Account management in salesforce is customizable. You can create custom account tags associated with a specific business of contact. As a result, a most critical concern of lost information that causes connectivity failure will be addressed by salesforce account management. The salesforce services allow companies and businesses to better communicate with consumers, stakeholders, and prospective customers by leveraging smart technologies. The app has been the top one for customer achievement and lets companies manage customer behavior, business events, and many other services.

Salesforce account management can be used in your various business departments like sales, financing, marketing, business growth, HR operations, and many other product offerings that handle individual and collective relationships.

The salesforce account management enables the below pieces of information to be stored in the system. Take a look!

  • Business’s title or company name.
  • The sector to which the company or business belongs.
  • Size.
  • Address for billing and delivery purpose.
  • Contact details.
  • Website reference.
  • Account owner’s info like name and other information.

Records and datasets of salesforce accounts contain information from all other sections, through which you do not just have a simple overview but also delve deeper into the data whenever required. All these datasets and data points in salesforce account management give you a full overview of your client and customers and other types and forms of accounts you have built. Account types enable detailed information to be gathered about either enterprise or person that a business can work with or start competing with. Account types have account categories that can be lined and filled with, simplifying an account’s crucial details.

Moving on, let’s discuss,

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Advantages of Salesforce accounts

  • It helps to make new accounts easily.
  • Ensures consistency.
  • Error-free performance.
  • Highly secured.
  • Provides scalability and wider functionalities.
  • Enables merging of all accounts and profiles at a centralized spot.
  • Enables easy sorting between basic accounts and top accounts for better marketing campaigns using salesforce services like salesforce sales cloud, salesforce marketing cloud, salesforce service cloud, and plenty others.

Read More: Top 8 Reasons Why You Need Salesforce Support & Maintenance Partner

Best practices and why there’s a need to create accounts?

If you deal with multiple companies and enterprises, you will probably need to organize information in a systematic structure regarding their various segments, business lines, and subsidiary companies. Your business would not waste unnecessary hours personally filling out specific details for an account; the system will handle it. When any information varies due to a misspelling or specific grammatical patterns, the system equates to the difficulties. The employee will also need to check individual automated accounts required to eliminate duplicates or combine repeated ones. Under such cases, the setting up of parent and child accounts is recommended.

1. Use parent and child account

A parent account is the primary account of a business, company, or community. You can establish an elaborate system for effective management. With account management in salesforce, you can arrange details and documents relating to each account, allowing the workforce and the company to manage clients and customers properly.

2. Use personal account

If you majorly work with individuals rather than businesses or companies, start using personal accounts. Person accounts include a blend of areas and categories for performance and contact, carrying all the customer data you require of a specific individual. Person accounts differ slightly than company accounts.

3. Account planning and management 

To be ready for future accounts, account management manages internal sales activities. And it gives a precise analysis of potential clients. However, it is essential to find out as much as practicable about your clients, rivals, and your industry to comprehend account management and planning. To overcome your competitors, you must need to understand what they offer. Salesforce for account management helps you to collect essential details; knowing what to monitor is crucial.

Ask few questions like:

  • Priorities and aspirations for the business?
  • Method of purchase?
  • Approaches they desire?
  • How often divisions of companies do they have?

In Salesforce for account management, incorporating data lets employees obtain a detailed overview of their present predicament. Utilizing useful, reliable tools, therefore, helps to allocate additional time analyzing precious data.

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4. Use appropriate tools 

While implementing account management of salesforce, your business unit needs to use the right resources and tools. Choose any Salesforce solutions that can optimize features and provide your customers and staff with the opportunity for everything they desire and expect from you.

Below are some other main instances which could lead to the creation of a new account. So, take a look!

  • After converting leads to an opportunity.
  • After importing a list of accounts form Data Company.
  • Growing up-sells and cross-sells of the initial business relationships.
  • Managing partnerships between the consumers and sales, and also with customer support.
  • To maintain long-term business by renewing contracts and maintaining customer loyalty.
  • After successful outbound marketing and sales activity.

Moving on, let’s move forward and discuss,

Why should you use salesforce for account management? Top Reasons 

Well, we know using salesforce CRM, salesforce services, and salesforce for account management is beneficial for any business or company, no matter how small and big it is. Below we’ve mentioned some reasons. Take a look!

1. Store complete information of clients and customers 

With the advancements in digital transformation services, data has become a critical asset of any organization. So, the insightful data collected by Salesforce for account management makes it beneficial for companies. You could look at every account, contact, assignment, and event to check the possibility of it being linked to a lead if you use Salesforce software, which grants your business a great deal of information before reaching potential clients. Each interaction, each purchase, each query, and every recorded customer engagement can be available from one location. Everybody, from distributors to auditors, will do their job with the same perception of vital customer information rather than waiting days or weeks for departments to be in touch. Salesforce account management is robust, adaptive, and easy to use, so you undoubtedly require folders consisting of spreadsheets or other docs.

Read More: 8 CRM Buying Tips for Serious Shoppers – Salesforce CRM

2. Easy account planning 

With salesforce account management, you can have complete consumer data in your hands which helps all your representatives make accounts separately and easily. This offers you the hands-on strategy you do need to establish a bond with consumers, and also it allows your representatives to adjust their approach to achieve superior performance. You could even build calendar notifications so that you can tell anybody about essential things to check back with your clients, account representatives, or team leaders. Managing customers and accounts is now a much easier task with all these account planning in the salesforce account management system.

3. Ensures effective team communication 

Salesforce account management even allows you an efficient approach with your team’s fellow representatives. The contact functionality lets you and your employees speak about task details with other people or groups, such as customers, area, and other vital data. It also allows you to add various group members to accounts or possibilities that produce positive outcomes. This, in essence, enables it easier for your employees to prioritize their activities and plan them so that they can focus on finalizing more transactions with far more leads.

4. Predict the requirements of consumers

The further you recognize your clients, the more you can foresee what they’re going to want from you soon. It not only prevents your company time, resources, and energy, but it’s also a perfect way to support your clients by developing innovative solutions effectively.

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5. Effective Management 

You undoubtedly get the advantage of excellent attention to detail with detailed customer knowledge and a range of preparation tools that are available. You have had all the data you ought to prioritize work with your customer, which implies that you can arrange projects according to the guidelines for multiple accounts. Also, to help envision your plan for a day, month, quarter, or even year, you could use the integrated calendar resources. That implies that you can continuously remain on track through plenty of measures in cultivating a big risk into potential lead and opportunity.

Read More: How to Meet Business Targets with Salesforce Customization?

6. Find Inactive accounts easily 

Many companies end up mired with lots of “inactive” accounts with which customers no longer operate. Only to seek their clients, people waste too much time scanning across unnecessary accounts! It is also dull and day when you finally sort across all profiles and decide which ones are entirely inactive. To overcome this, you can use salesforce account management’s automation functionality. All you have to do is set a filter, for instance, list all inactive accounts since 60 days. Utilizing automation to locate old accounts will help you maintain your company cleaner, allow people to find the customers faster, and successfully navigate accounts.


Closing Words 

Undoubtedly, Salesforce has been one of the most vital tools and technology for CRM, and as more developments are still emerging. Due to various cloud-based innovations, it’s a hassle-free platform for improved customer experiences, data management, and account management. We believe you can strengthen your salesforce account management with the knowledge above and promote more effective contact with your clients and customers.

If you are looking to streamline your business’s account management and operations or to implement custom salesforce account management, contact us; as a leading salesforce development company, Matellio will help you achieve it.

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