Your organization’s account management efforts should be focused on: Keeping these larger goals in mind, you should identify the specific, measurable objectives you want to achieve in each area. NOTE: Our sales training tools are designed to make your life easier. … Those objectives will help you decide which metrics make the most sense for your team to track. Strategic Account Managers acts as a liaison between an organization and its clients. Top 5 Account Management Best Practices to Drive Real Customer Centricity, Field Guide to Account Based Sales Enablement, Leverage Customer Intelligence to Empower Your Account Based Sales Strategy, How Five Leading Technology Companies Power their Account Plans, Building an Enterprise of Challenger Sellers and Managers, 3 Powerful Ways to Bring the Challenger Sale to Life, 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. This requires staying on top of each key account and making sure the customer feels supported and confident in working with your organization. Key Skills for Strategic Account Managers. Strategic Emails – Number of emails sent to offer best practices, strategic advice, consulting, etc. Plans movi… 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. Account managers are now expected to provide service, resolve issues and maximize consumption and ROI — all while selling additional new products and services. These managers are the contact people for the strategic accounts’ stakeholders and are responsible for developing and maintaining a long-term relationship with the customer. Understand account information in terms of revenue/profitability/growth, products/services, geographic spread, and the account’s strategic initiatives and plan for the year. Strategic Calls – Number of calls made to offer best practices, strategic advice, consulting, etc. At the end of the day, strategic account management should be all about responsiveness, problem-solving, customer satisfaction, and building long-term relationships that lead to additional revenue. We just finished an eye-opening research study which revealed that 47% of salespeople do not have confidence that the sales department is respected by other departments inside of the company. The Brooks Group’s Strategic Account Management training program teaches participants a highly-practical system for developing each of their key accounts in ways that will strengthen the client relationship—and drive additional sales revenue for your company. Based on the frequency of reviewing your goal and objectives, you must schedule meetings with the key account … ©2020 The Brooks Group. To set your team up for success, provide them with the training and tools needed to develop their own detailed account plans. By bringing customers tangible benefits that they can point to on a spreadsheet and say “Look! This means that projects and tasks can easily become forgotten and get pushed to the side, while customers and partners are left fee… The frequency and depth of the review process may vary by company based on company size and goals … To get started, companies can analyze the following: 1. Complete 50% of phase three Aurora project milestones by year end.” The best way to write measurable performance goals … Know the Players Inside the Strategic Account. 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. The 7 Habits of Highly Effective Strategic Account Managers Blog. To achieve organizational alignment, your key account management … Know the Players inside the Strategic Account. A performance review is a regulated assessment in which managers assess an employee’s work performance to identify their strengths and weaknesses, offer feedback and assist with goal setting. Performance Indicators for Growing Revenue: You can use the account management KPIs that make sense for your organization to measure how effective your team is at retaining, growing, and developing long-term relationships with your key clients. Nothing will put a strategic account at greater risk … For targeted information on a performance m… They provide concrete milestones for evaluating progress. Strategic Account Manager job description. 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. 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. This section essentially is your elevator pitch and the first thing the reader sees. Account … I have broadened that definition to incorporate more of the organizational outcomes as a whole. Top Performers in this study, Top Performance in Strategic Account Management Benchmark Report, had stronger revenue growth, margin growth, and satisfaction growth in their named strategic accounts than The Rest. The products and services you have implemented 6. By using this site, you consent to the placement of cookies. Whether your organization has a dedicated Account Management team, or your salespeople are in charge of managing their own accounts, it’s important to establish some performance measures focused on account management. Use them to your advantage. ... Conversely, a poor definition leads to role ambiguity, stress and poor performance … Some of those things … I helped you generate this revenue.” If your key account managers aren’t providing tangible value to their client’s over time, they are… Here is an example of a performance goal for a project manager that illustrates this idea: Non-measurable: “Meet project milestones.” Measurable: “Complete all phase two Aurora project milestones by August. 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. This site uses cookies to provide a better user experience. In both cases your aim is to move from a transactional role with your customer to a strategic partner … Submit it to The Brooks Group Help Desk and an expert will get back to you within 24 hours. Lisa has passion for helping managers develop a unique, motivational sales culture in their organizations. It’s far more profitable to retain existing customers than to find new ones, so it’s key that your team keep customer satisfaction top of mind. Objective : An innovative strategic sales and marketing professional with a proven ability to meet and exceed goals through sophisticated sales, marketing, … Performance Management is most often defined in the context of Human Resources. At the top of the list is communication. Performance Indicators for Strengthening Relationships: In the end, the goal of your account management effort is to increase revenue. Compile everything you know about an account, including both factual and strategic information. Strategic Account Managers are usually responsible for maintaining relationships with current clients, as well as finding opportunities for expanding client … Without a strategic account management plan, you approach your customer relationships without a checklist of bases to cover or things to address. 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Their duties include expanding client database, maintaining a positive relation with existing clients, attaining … This means that their customers feel like the heroes of their organization and your key account managers are their trusted business advisors. The overall objective for key account managers is to maximize revenue from each major account. Financial performance 4. This is ironic, but pretty common outside of sales teams. Many accounting managers struggle with the annual goal setting process. help@thebrooksgroup.com. It’s also easy to customize to meet … Customer satisfaction and problems 3. Whether your organization has a dedicated Account Management team, or your salespeople are in charge of managing their own accounts, it’s important to establish some performance measures focused on account management. A key account manager’s number one goal should be to provide their customers with lifetime value. If you’re wondering how to improve your output and efficiency, implement these four performance objectives for office managers… Strategic account managers … Have a question? Unsubscribe at any time. A performance goal is a target for the work of an employee. Customer Experience Strategic Account Management. It must pique the candidate’s interest and establish how your job can satisfy her personal and professional goals (see how the strategic account manager … Remember that establishing these measures is just one part of performance management. For that reason, it’s important to measure growth with key indicators or performance measures. She can drive sales managers who merely put out fires day to day to flourish as visionaries who can motivate their team and generate results for their sales organizations. Learn More. These are typically agreed between the employee and their reporting manager at the start of a business year or quarter. This is publicly available data that can be easily found so it makes no sense to not use this to analyze your client’s financial position and organizational structure. The fundamental truth is this: sales believes that the rest of the company wouldn’t have jobs if not for them… and the rest of the company feels sales wouldn’t have a job without them. The Strategic Account Management Competency … Existing business 2. As with just about everything in business and sales, when you have a plan in place, you can stay organized more easily while ensuring that no projects, customers, or clients are neglected. Stragtegic objectives are measurable goals that are consistent with a company's mission and vision. Nothing will put a strategic account at greater risk … The performance of individuals clearly impacts organizational performance and vice versa. Cognitive flexibility. Setting up goals and metrics will help each team member know where to focus, and they’ll be prepared when it’s time for their performance appraisal. As an account manager or sales professional the two most important objectives for your customer base is to r etain them and grow them. 2 Most Important Objectives of Account Management. Your customers come first, so it’s important to understand the entire context of your key accounts. The Account Management KPIs You Should Be Tracking. What The Account Manager Resume Objective Should Tell Prospective Employers Account managers must be able to manage several different tasks at once. Jeb Blount. HR leaders share their goals for 2018, including strengthening employee engagement, improving the management of people, revamping performance reviews, focusing on professional development for emerging HR leaders, and being a more environmentally friendly company. At the end of the day, strategic account management … We guarantee 100% privacy. All Rights Reserved. Strategic Account Manager job profile. It’s not easy to come up with S-M-A-R-T (Specific, Measurable, Attainable, Relevant and Time-Bound) goals … What do you plan to do to improve HR performance in the New Year? Performance Indicators for Retaining Customers: In order to recognize new business opportunities—and be seen as strategic advisors when making recommendations—your account managers and sales staff must demonstrate their value to the client. In this second blog from Ed Bradford, he builds on the Strategic Account Manager as single point of contact theme. Communication. To achieve organizational alignment, your key account management should include: Keeping track of results and measuring key account management performance at an individual account level is another important aspect of organizational alignment. Prioritizing Sustainability Strategic Account Manager I Resume. The most relevant questions and the ones that will be unique from your competitors are questions like: Which areas of your business are most important to you? Strategic account management doesn’t happen by accident – it’s made up of formalized, repeatable, and measurable processes. Cognitive flexibility is defined as “a unique cognitive ability that is linked to … by devrevegy | Aug 22, 2017 | Uncategorized, 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. 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. Your goal and objectives can be yearly, semiyearly, or quarterly. How do they achieve this title of “trusted advisor”? Account managers have abig job. This Strategic Account Manager job description template lists all essential qualifications you should look for in candidates. According to Gartner Group, 80% of your company’s future revenue will come from just 20% of your existing customers. How you help your customers 5. It can be hard to quantify the work of the folks who do the counting! Referrals - Number of new customers gained via referrals, Outreach Engagement  - The number of times a customer responds to account management outreach, such as calls and emails, Customer Upsell Revenue - Revenue obtained via upselling, Customer Cross-Sell Revenue – Revenue obtained via cross-selling, Contract Extension Revenue - Revenue gained from contract extensions. If these areas are well maintained, your team will be able to dig deeper into existing key accounts and maximize the revenue potential that’s there. The customer’s goal and objectives are normally around a FY. SAM planning works largely the same way. Where do you … Lisa Rose is a Group Vice President of Sales at The Brooks Group. eBook: Field Guide to Account Based Sales Enablement, Webinar: Leverage Customer Intelligence to Empower Your Account Based Sales Strategy, Article: How Five Leading Technology Companies Power their Account Plans. Once again he uses ‘SAM’ as its anchor term, but GAMs, KAMs and account managers will all recognise their role in this discussion. As the liaison for the customer and the rest … [Why is it so critical to have visibility and intelligence about the stakeholders, influencers, and decision makers involved in complex B2B sales cycles?]. Incorporating both perspectives within the framework of strategic planning provides the best opportunity for success. But as an office manager, the vague aspects of the role can sometimes make personal and professional growth feel like an impossible task. These goals are used to evaluate the performance of employees at the end of a performance …