Boosting Strategic Account Profitability in Enterprise Software
The company was seeking to reverse a recent trend of flat revenues and slow growth among these accounts. Some of the challenges with their largest accounts included: a lack of a central message and account-specific value proposition; a lack of senior level relationships; limited knowledge of the accounts’ primary business drivers/challenges; limited new business pipelines; vendor-style vs. strategic partner relationships; competitive erosion; a lack of product integration; internal misalignment; and flat/declining revenue. A reversal of this situation would require a shift in resources, planning, and executive sponsorship.
A MAP (Major Accounts Program) initiative was designed to address these challenges and increase the overall visibility into these accounts at all levels of the organization, while enhancing client perceptions and relationships at the account level.
Symmetrics Group Approach
Symmetrics Group worked closely with the client to design a MAP that engaged the Account Directors and all cross-functional teams. A MAP “playbook” was created that provided a unified vision for the program, clarified role definitions, established an operating model, created account cadence plans, defined a system for account visioning/joint customer planning, set guidelines for account reviews/portfolio management, and laid the foundation for opportunity management.
The program was launched at Sales Kick-Off meetings in the winter (Philadelphia & Singapore). One-day sessions for 15 MAP Accounts followed in the winter/spring, which engaged global cross-functional teams that impacted the accounts. These sessions were designed to address the following: a vision for the account, knowledge acquisition (cross-functional), opportunity creation/ideation, opportunity development, 12-18 month goals for the account, ownership of action items, planning, and executive engagement.
We also ran sessions for a subset of accounts that were focused on the Asset Management portion of the business. This initiative covered an additional 15 sessions/accounts that drilled down even deeper into one specific region of the customers’ business.
Our client achieved an 8% lift in revenues across major accounts the year our engagement completed, and a 47% lift in sales through the first half of the subsequent year once the full benefits of account strategies were realized.
Each of our sessions delivered on the major goals of: account planning, cross-functional collaboration, opportunity creation, communication, accountability, and go-forward cadence. In addition, opportunities were created in all sessions with estimated revenues, and sales pursuits followed immediately afterwards.
The Multigenerational Sales Team
More effectively leverage talent across generations who think, sell, and buy in vastly different ways and overcome generational obstacles to drive improvements in both individual and organizational performance.