Implementing your own Account Planning Methodology Featuring SiriusDecisions
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Transcript of Implementing your own Account Planning Methodology Featuring SiriusDecisions
Effective Practices in Implementing your own Account Planning Methodology
© Copyright SiriusDecisions. All Rights Protected and Reserved.
What You’ll Walk Away With Today
• The importance of “simplicity in design” when it comes to account planning
• An understanding of the key elements of an account plan
• Why planning without execution accomplishes nothing, and how to make insights actionable
2
Where To Start
© Copyright SiriusDecisions. All Rights Protected and Reserved. 4
Solution Vendor SelectionEducation
Making the
Selection
SiriusDecisions B-to-B Buying Cycle Framework
Justifying the
Decision
Loosening of the Status
Quo
Committing to
Change
Exploring
Possible
Solutions
Committing to a
Solution
© Copyright SiriusDecisions. All Rights Protected and Reserved.
Account Plan vs. Opportunity Plan
5
Account Plan Identifies the Macro Strategy…
• Corporate Structure• Organization Structure• Buying Centers
• Corporate Strategy• Current Relationships• Current Spend
…and Drives Opportunities (Distinct Buying Cycles)
Opportunity A Opportunity B Opportunity C
PIPELINE
© Copyright SiriusDecisions. All Rights Protected and Reserved.
Start With The End In Mind
• Understand Why You Are Doing Account Planning– Retention– Growth– Expansion– Vertical Focus
6
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Other Pitfalls: Where Can Enterprise Focus Fall Short?
• Lack of centralized account coordination perpetuates disconnected executionStructure
• Choosing the wrong accounts makes it hard to deliver valueSelection
• Expecting resources to change focus overnight makes execution unreliableTalent
• Expecting full playoff in a short period of time creates unrealistic expectations Patience
• Making only superficial “marketecture” experience upgrades won’t fool anyoneReality
7
© Copyright SiriusDecisions. All Rights Protected and Reserved.
Account Planning Separates The High Performers
55.6% of high performing reps reported they regularly focus on account planning versus only 41.2% of poor performers.
8
Account Segmentation
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Customer Lifetime Value: B-to-B ExampleSiriusPerspective: Understanding the current and potential value of customers helps b-to-b companies make better resource choices.
Lifetime Value
Opportunity Assessmen
t
What is our relationship like
today?
Who do they buy from already?
What is the growth potential?
Cost to acquire and retain
Revenue and profit
Typical customer lifespan
10
Quantitative estimate
Must be balanced with qualitative assessmentof real-life potential
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Use Quantitative Analysis to Sharpen Your KnivesSiriusPerspective: The goals are straightforward – 1) get a bigger slice of the existing pie, 2) grow that pie and 3) look for new pies to cut into.
• Three-to-five-year spend analysis
• Three-to-five-year opportunity analysis
• Pipeline analysis past 12 months
• Current pipeline• Current total spend with us• Current total spend with others• Identify buying centers
11
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Account Mapping Quadrant Example
12
Quality of Relationship
Rev
enue
Pot
entia
l
High
Low
Vendor Strategic
Invest ResourcesMove to Strategic ifPossible
Avoid Wasting ResourcesMaintenance Relationship
© Copyright SiriusDecisions. All Rights Protected and Reserved.
Assess ‘at Risk’ Accounts
Source: Revegy, Inc.
Account Insights
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How Does a Rep Earn a B-to-B Executive’s Trust? SiriusPerspective: Relationships don’t matter to CXOs as much as company and industry insight.
4X
Demonstrate deep expertise about my industry
Cultivate a personal relationship with me
2XDemonstrate deep expertise about my company or firmShow you care
about my success
15
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Value Pyramid
16
Corporate Objectives
Critical Issues and Challenges
Departmental Initiatives
Functional Requirements
Corporate Site Licenses
User Licenses
© Copyright SiriusDecisions. All Rights Protected and Reserved.
Data, Information and InsightsSiriusPerspective: The biggest inhibitor to rep success is inability to link product benefits to a buyer’s key business drivers and to articulate a clear value message.
17
• Data is freely available to all• Annual report, 10K, website• Analysts, journals, thought leaders• Google, Yahoo finance
• Information comes from “inside sources”
• Change the conversation• Built upon homework
• Insight is the ability to take data and information to create value
• Connect your solutions with business
Account Planning
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Components of an Account Plan
Understand the Corporate Objectives and Goals
Map the Organizational Structure for Each Buying
Center and Assess Relationships
Identify Potential Opportunities and
Develop the Action Plan for Pursuit
19
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The Outcome of Planning Are SMART GoalsSiriusPerspective: Without analysis and account-level insights, enterprise efforts can be set up to fail.
20
Specific:Quantitative objectives for the account
Measurable/Attainable:How will we measure each team member’s contribution?
Realistic/Time-bound: What can be done in next 90 days?What is the one year plan?
© Copyright SiriusDecisions. All Rights Protected and Reserved.
We Sell to People. Not Accounts.
Source: Revegy, Inc.
© Copyright SiriusDecisions. All Rights Protected and Reserved.
We Sell to People. Not Accounts.
Source: Revegy, Inc.
© Copyright SiriusDecisions. All Rights Protected and Reserved.
Example: Enterprise Planning within SFA
23Source: Revegy, Inc.
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Complex Account Planning Process in Salesforce.comg
Source: Revegy, Inc.
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Action Plan: Monitor Monthly.
Source: Revegy, Inc.
Execution
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Avoid “Paralysis By Analysis”
27
Thinking is easy, acting is difficult, and to put one's thoughts into action is the most difficult thing in the world."— Goethe
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Aligning Marketing and Sales for ExecutionSiriusPerspective: Marketing and sales create a symbiotic relationship with one another and the customer to create a better experience.
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SalesOperations
Sales Training
Process
Skills
Product/Solution Marketing
Demand Creation
Field Marketing
Sales Enablement Sales
Communications
Requirements
Execution
Marketing Sales
KnowledgeStrategy
Programs and Content Competencies
Competence and
Confidence
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Account Execution Demand Creation Program Allocation
• A sample of high-tech firms with >60% revenue from enterprise accounts (>1,000 employees).
• The four most prevalent demand creation tactics are live events, trade shows, third-party teleprospecting and webcasts.
• Account based marketing shifts dollars from awareness to sales enablement
Source: SiriusIndex
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
20%
15%
12%
11%
7%
7%
6%5%4%4%3%3%3% Trials
Banner ads.
Direct mail
White papers
Association mrktng.
Web-based demos
SEO
Keyword
Webcasts
Third-party tele.
Trade shows
Live events
Enterprise-focused peers
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Success Elements
30
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Marketing’s Role in Account PlanningSiriusPerspective: Account planning feeds ABM analytics and links marketing programs back to sales goals and execution.
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Account status
Account opportunities
Account objectives
Account strategy
Marketing adds…Sales has…
History, customer feedback, product/service portfolio
Data on optimal combinations, propensity to buy
Prioritization of accounts and program development
Programs to support goal attainment
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Social: Maintaining Collaboration and SupportSiriusPerspective: Collaboration tools enhance a team’s ability to coordinate efforts and share information.
32
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First-Line Managers: Strategic Advisor Role
33
Measurement
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Experience Investment Must Show Specific ReturnsSiriusPerspective: Measure short-term activity, mid-term pipeline, and long-term growth.
35
Near-term metrics Mid-term metrics Long-term metrics
Insight and Engagement
Development and Conversion
Results
• Contact Growth
• Account Knowledge Depth
• Account Reviews
• Activity
• Pipeline: Cross-Sell, Up-sell
• Renewal vs. Targets
• Competitive wins• User versus Site
Licenses
• Retention
• Account Growth
• Sales Cycle Impact
• Loyalty Scores
• Advocacy/Brand Perception
Thank You!