Strategic account management regularly gets overlooked. You’ve heard it before, but it bears repeating: About 20% of your customers produce 80% of your sales. Despite hearing this over and over again, many sales organizations focus on bringing in new business. They neglect the top accounts that produce the vast majority of their revenue.
The reality is that strategic account management is hard – and completely different from 10 years ago. Managing that 20% of key accounts is more complex than ever before. Large organizations are spread throughout the world, and each office has its own needs and nuances. More business units are making it increasingly difficult to understand who needs what. And more stringent procurement processes are putting the strain on both you and your customer.
Managing, navigating, and growing these complex accounts is a difficult task, and is often made even more challenging by a lack of visibility into key relationships and initiatives. The good news is that you’re not alone. The sales process has changed, and most companies are unaware that technology exists to automate and optimize how they manage key accounts, leaving companies to feel like they’re fighting an uphill battle – blindfolded.
Enter a new sales technology to give more visibility to reps, teams, and leadership. By implementing software that will give sales teams a panoramic view of key accounts (key people, influencers, strategies, and KPIs) and identify the parts of the business with confirmed needs, budget and urgency, sales teams will save time and maximize potential revenue and wallet share.