In a recent Harvard Business Review article, Bain & Company partners Mark Kovac and Jamie Cleghorn discussed the importance of preparing sales teams for a recession before it hits. They addressed which areas sales organizations should focus on to prepare for the next recession and highlighted the value of digital tools.
In the article, Kovac and Cleghord recommended Revegy as a top account management tool that turns tactical opportunity-tracking tool into a powerful strategic planning tool. Click here to read the full HBR article.
Bain & Company benchmarked nearly 900 B2B companies to assess the value of digital tools and their ability to keep companies ahead of the curve. The study showed that “on average, four times as many winners – defined in this case as those companies that grew absolute revenue at a significant rate and gained market share within their industry over the previous two years – as losers have digital tools embedded into their core commercial capabilities.”
In particular, they emphasized digital tools that automate and streamline account management.
It’s critical for account managers to have visibility into their accounts and understand which decision makers are important and where there are new opportunities. However, traditional account management is ad hoc, homegrown, fragmented, and disorganized. Significant gaps often exist between pockets of knowledge and value of information resulting in lost revenue from missed sales opportunities.
Because of this challenge, it’s critical to use digital account management tools that simplify the complexity of traditional account management and give sales teams true visibility into accounts.
The HBR article describes how these digital tools can “automate this process and plug into a firm’s customer relationship management platform, turning a tactical opportunity-tracking tool into a powerful strategic planning tool.”
While there are various account planning tools on the market, Kovac and Cleghorn recommend Revegy in particular.
Revegy delivers the only CRM-agnostic, enterprise-class platform that provides the actionable intelligence required to manage your most strategic accounts, drive revenue performance and enhance operational efficiency. It easily conforms to any process – helping you achieve the consistency and collaboration that every sales, account and channel manager longs for.
With Revegy, you can create living account plans that adapt to changing customer needs, evolving relationships and unexpected events. It provides planning that gets everyone on the same page and guides execution. You can show anyone, at any time, exactly what’s going on in key accounts and see the way to win.
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