Strategic Account Management – Key Metrics to Ensure Organizational Alignment
Effective strategic account management requires organizational commitment that goes beyond sales and must rely on other client-focused stakeholders, as we mentioned in our past blog post, Top 5 Account Management Best Practices to Drive Real Customer Centricity
The complexity of the modern enterprise has made it increasingly difficult to share and align customer knowledge across sales teams and throughout an entire organization. Poor visibility into, and collaboration around, key accounts has a significant negative impact on an organization’s ability to properly determine account value, define account objectives, ensure that value is delivered, and forecast accurately for the long term.
To drive customer centricity, you need organizational alignment- but what’s often missing is a common framework that sales and other customer-facing teams can draw from to gain the customer intelligence and data-driven clarity they need to synchronize account-wide sales planning processes and focus on the highest value activities in a repeatable and coordinated way.
Key Account Management to Achieve Organizational Alignment
Strategic account management is a critical component to a successful sales strategy, helping to better meet revenue goals, maintain long-standing client relationships, and deliver shared information and investments. To achieve organizational alignment, your key account management should include:
- Account-based marketing in place and ready to engage/support the initiative
- Executive sponsorship and engagement (supplier and partners)
- Clearly defined organizational structure, rules of engagement and governance mechanisms
- Agreement on goals, process metrics, reporting mechanism and sales management cadence
- Feedback mechanism – input into business planning process and product roadmap
Keeping track of results and measuring key account management performance at an individual account level is another important aspect of organizational alignment. It is important to adapt your core sales metrics to track your results regarding short-term activity, mid-term pipeline growth and long-term revenue growth.