The Top 3 Reason Why Your Account Planning Process is Broken (And How To Fix It)

Top 3 Reasons Why … Your Account Planning Process is Broken (and how to fix it)

Áine Denn, EVP Customer Experience

© The TAS Group 2015

Áine Denn Executive Vice President &

Co-Founder



Account Planning Challenges Understanding the customer’s strategy and how they measure success.

Conducting account reviews and coaching to drive behavior.

Prioritizing accounts to ensure we focus more time on those with potential.

Identifying the “White Space” (areas of opportunity where your solutions can add value to the customer).

Executing our account plans.

Mapping the organization’s political landscape to identify and nurture the right relationships.

Using a common language, processes and tools to drive scalability.


























Your Account is a Marketplace



Create, develop, pursue, and win business that delivers mutual value

for you and your customer


Cost to retain existing and acquire new customers2

6 Times More Costly to Acquire

100% 200% 300% 400% 500% 600%

1$

6$

Account Planning helps Growth & Retention

Source: (1) Marketing Metrics, (2) Bain & Company

50%

0% Existing

Customer New

Customer

75%

25% 5% - 20%

60% - 70% Likelihood of winning business in existing and new customers1


maximize revenue from key accounts 53% gain access to key players 54% uncover customer business problems 61%

+ 41%

+ 30%

+ 28%

Some facts about Account Planning ...

Sales Reps who say they can … Increase quota attainment by …

Source: Dealmaker Index Global Sales Benchmark Study


3 Things to Consider

Research for Insight

Integrate for Velocity

Focus for Impact


Understanding the Customer’s Strategy


The way customers buy is changing

“The age of the customer is upon us. Buyers are more demanding, informed, value-sensitive, and have more choices available to them than at any other point in history.” Forrester, The Selling System in the Age of the Customer, March 2014


The Customer Lifecycle

Source: Account Planning in Salesforce, Daly 2013

1. Prospect




1. Prospect

2. Customer




1. Prospect

2. Customer

3. Loyal Customer

4. ______________




1. Prospect

2. Customer

3. Loyal Customer

4. Former Customer


How much does Price act as a driver of customer defection?4

Customer’s View

Vendor’s View

0% 25% 50%

25%

48%

Account Planning helps Growth & Retention

Source: (1) Marketing Metrics, (2) Bain & Company, (3) US SBA, US CC, (4) Rightnow Technologies

50%

0% Customer Service

Product

75%

68% 25%

14%

Drivers of customer defection3

25%

Price


Source: Forrester Executive Buyer Insight Study

What’s the Problem? Executives don’t believe that salespeople are well prepared to engage with them...

…because they know about their own offerings, not the realities and needs of executives.

Salespeople are knowledgeable about:

Source: Forrester Research

Their own products and services

Buyers’ roles and responsibilities

Buyers’ specific business

Questions buyers ask

40% 36% 43% 71%


Sales / Marketing / Customer Misalignment

Little Business Context

Not Customer Focused

Product Centric

No Insights Inside

Sellers Sell Only What They Know…


The Alignment Triangle

Marketing

Customer

Sales

… It should really be all about the Customer


Things Customers Care About …

Goals

Pressures

Obstacles

Initiatives



Solutions

Goals

Pressures

Obstacles

Initiatives



Customer Insight Map

Solutions

Goals

Pressures

Obstacles

Initiatives


TRANSFORMED BUSINESS CONVERSATIONS

+

Dealmaker Align Solution Components

Goals

Pressures

Initiatives

Obstacles

Solutions

Customer Insight Map

Key Messages

Insights

Sales Tools

High Yield Questions

Competitive Positioning

Objections

1

2

3

4

5

6


Map the buyer’s Goals, Pressures,

Initiatives, and Obstacles.

Attach issues to

individuals


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http://content.thetasgroup.com/demo/political-map-express

Political Mapping


Conducting Account Reviews


Front Line Sales Managers should balance……


Sales Coaching Improves Performance

+88%

Coaching Improves Productivity1

Source: 1 SEC/CEB, 2 Gallup

+56%

Coaching Increases Customer Loyalty2


23%

Why Sales Managers Don’t Coach

Source: Sales Management Association

47%

26%

100%

50%

0% Don’t Value

Coaching Not Enough

Time Don’t Know

How to Coach Sales Reps Don’t Ask

Other

2% 2%


Role of Sales Leadership in Peer Review

Before •  Set expectations with presenting & reviewing teams:

•  Rules of engagement

•  Expected outcome of the peer review

During •  Engage the team to prevent multi tasking

•  Evaluate the critical thinking and preparation of the presenting team and the reviewers

After •  Follow up with the team on vulnerabilities, ideas, and actions


1 2

3

Understand the Plan

Review the Plan

Improve the Plan

Peer Review Process


Pres

ente

r R

evie

wer

s

Present the Plan (30 minutes)

Present the Plan 1a

Questions & Answers (10 minutes)

Answer Questions 1d

Listen till the END 1b

Ask Questions 1c

Understand the Plan Understand

Vulnerabilities (20 minutes)

Identify Vulnerabilities &

Recommendations

2

Consider Plan Vulnerabilities &

Recommendations

2

Review the Plan

Update the Plan 4

Recommendations for Improvement

(30 minutes)


3a


3b

Improve the Plan Peer Review Process


Reviewers : 4 Perspectives The Customer – as a key player

Competitor – as you competitor

Sales Manager – on behalf of the company

Partners

TAS / Dealmaker coach


Revenue Objectives


Business Development Objective


Cross-Account Objectives


Prioritizing Accounts


Focus for Impact

`


Focus for Impact

Importance to Customer

Impo

rtan

ce to

Us Future Potential

Current Opportunities Previous Business

Revenue Contribution Profit Contribution

Current Importance Future Importance …

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Focus for Impact


Find Mutual Value: Prioritizing segments that are

Important to You and to your Customer






Q A

Top 3 Reasons Why … Your Account Planning Process is Broken (and how to fix it)

Áine Denn, EVP Customer Experience