Setting SMART goals for managers and for your team is an easy exercise to promote strategic alignment and motivation. Goal setting sets the standard for the manager to use when evaluating the employee the following year. Strategic Account Managers. 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. The defining difference between sales leaders who succeed and those who don’t is their ability to drive sales strategy execution. Reaching some key goals, such as adding more automation into the AP workflow and reducing costs, can help accounts payable teams to stay competitive and showcase their … Strategic Account Management Hello, you are using an old browser that's not compatible and no longer supported. This site uses cookies to provide you with a great user experience. He has to lead from the front, take risks and create a win-win for both sides. Find out more here. All Rights Reserved. Other candidates that might be designated as strategic accounts include those you consider early adopters or organizations that like to experiment and test new solutions. … Make sure your SAMs have what they need to meet their goals and help coach their strategic account teams to success. Account planning is important to help identify the resources that you need to achieve your growth objectives. Identify clients who contribute a significant amount of revenue to your company, and ask yourself, “If we lost this account, how much would we worry about filling the revenue gap?” If the answer is “a lot,” that client is likely to qualify as a key account. This means that projects and tasks can easily become forgotten and get pushed to the side, whi… Performance Indicators for Strengthening Relationships: In the end, the goal of your account management effort is to increase revenue. The strategic account manager also needs to have credibility and the ability to marshal internal resources when necessary. This means that achieving the goal must be something you can measure and track, using data like increased numbers, financial figures or improved productivity … But as an office manager, the vague aspects of the role can sometimes make personal and professional growth feel like an impossible task. Some people are cut out for new business development, and others aren’t. Developing strategic accounts works best when the strategic account manager takes on a consultative selling role and searches for opportunities to add value for clients by helping them save money, make money, or manage risk. Email, Zoom, Phone… What’s the Best Way to Make a Connection? Strategic Account Manager I Resume. Learn More. Strategic account management is an important job that requires rigor and discipline. Site Map | Privacy Policy | Cookie Policy | Terms & Conditions, Strategic Account Management Training Program, REQUEST STRATEGIC ACCOUNT MANAGEMENT TRAINING INFO PACKET NOW →, Assimilating Your Sales Teams in a Merged Company Environment. 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. Based on the frequency of reviewing your goal and objectives, you must schedule meetings with the key account … Sales Leadership Accelerator Virtual Selling with IMPACT A strategic account manager is a bridge between the sales team, a team of account managers and customer team. For that reason, it’s important to measure growth with key indicators or performance measures. This means that their customers feel like the heroes of their organization and your key account managers are their trusted business advisors. Sales Management Training, Selling to Different Personality Types IMPACT for Business Development IMPACT Selling for the Complex Marketplace Sales Negotiation Training Sales Territory Planning Workshop IMPACT Channel Sales Training, Sales Hiring Assessments IMPACT Selling Skills Index EQ Assessments Sales Team Insights Sales Culture Insights Using Assessments for Sales Coaching Developing a Top Performer Profile Brooks Talent Index Scientific Validation, Virtual Selling with IMPACT Before you embark on your next strategic initiative or brainstorming session, ask yourself how much potential exists within your strategic accounts and what you need to do to protect and grow these assets. The performance of individuals clearly impacts organizational performance and vice versa. 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. If they’re dependent on you for their business, however, it will be difficult for them to sever ties without giving you a chance to make things right. Prioritizing Sustainability This muscle helps fortify the relationship, expedite decision making, and protects you from changes in executive leadership or company strategy. The Strategic Account Management … Their objective is to build strategic … You probably don’t want an account manager whose strategy is so aggressive that he or she pesters the client or proposes new ideas that are not in the client’s best interest. By continuing to browse the site you are agreeing to our use of cookies. Virtual Bootcamp Workshop, Maximum IMPACT Sales Enablement What Makes Us Different? Tip: Sometimes, clients won’t be 100% satisfied, or they’ll hire new key account personnel who’ll introduce new biases and preferences. Tip: Don’t consider a strategic account plan final unless your client has seen and agreed to the plan. At the end of the day, the KAM’s goal is to build the lifetime value of their … Strategic Account Manager job description. IMPACT Selling® Sales Training If you’re in their network, you and your SAM can manage the situation proactively. Finally, accompany them on some calls to better understand the style and substance of their conversations with their clients. If you’re a project manager, you should get out of that to-do list mentality. Together, the employee and the manager determine attainable goals … Identify the objectives, goals, and key performance indicators to track progress, just as you would manage your sales pipeline. These behaviors are quite different from a hunter’s; hunters often have an “eat what you kill” mentality. Strategic Account Managers are usually responsible for maintaining relationships with current clients, as well as finding opportunities for expanding … How do they achieve this title of “trusted advisor”? You should involve the client in the process to ensure that the plan is valid and actionable. Key account managers aim to build strong relationships with all the members of the customer team who make or influence purchasing decisions. Which clients does he or she brag about often? This site uses cookies. I have broadened that definition to incorporate more of the organizational outcomes as a whole. No matter what type of a manager you are , you're responsible for motivating your team and improving your team's performance. Strategic Emails – Number of emails sent to offer best practices, strategic advice, consulting, etc. Your goal and objectives can be yearly, semiyearly, or quarterly. For that reason, it’s important to measure growth with key indicators or performance measures. Examples of a high-level sales strategy might include growing market share and launching new products. These skills can be developed, but many require specialized training and coaching to become truly authentic, confident, and effective in the role. There are many ways to use this planning process, but for the purpose … Be strategic. Tip:  Strategic account managers must possess strong business acumen. If the pandemic has taught project managers anything, it’s that uncertainty is here to stay. It is easy to get distracted from the fundamentals necessary for account management strategy execution. Educating the customer about insights relevant to their business is a major focus for SAMs. This dependence can be built in many ways including operational dependence through channel partnerships; technological dependence through systems integration, business dependence through special terms and financing, and contractual dependence through multi-year contracts or automatic renewals. Performance Management is most often defined in the context of Human Resources. A leader is required to set the right vision for the team and design the strategic … These goals are used to evaluate the performance of employees at the end of a performance … A key account manager’s number one goal should be to provide their customers with lifetime value. Because it aligns organisational objectives with client activities and reveals new opportunities. NOTE: Our sales training tools are designed to make your life easier. 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. Some of those … As a sales leader, you need the revenue from your strategic accounts to achieve your goals. Incorporating both perspectives within the framework of strategic planning provides the best opport… Use them to your advantage. 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. If you are linked to your SAM and your SAM is linked to contacts in the account, you will have visibility into these contacts and the ability to connect with them. Tip:  It’s important to identify potential buyers and strong influencers early. One way to accomplish this is to establish executive sponsorship programs in which your senior executives build peer-to-peer relationships with executives in your strategic accounts. And, it is a collaborative process that requires involvement from the client to be valid. In fact, research indicates that the average tenure of a sales leader is somewhere between just 18 to 24 months! Our Change Management Process Why Customized Sales Training? Brooks Talent Index Certification As an account manager, it will guide all … Account managers are now expected to provide service, resolve issues and maximize consumption and ROI — all while selling additional new products and services. Both sides to success on a spreadsheet and say “ look their account... Tell Prospective Employers in your client has seen and agreed to the plan is and... New products jobs, they often update their linkedin profile quickly goal setting sets the for! A sales strategy execution purchasing decisions have an “ eat what you kill ” mentality qualitative results folks! A collaborative process that requires involvement from the front, take your CEO ’ s Number one should... Sam can manage the situation proactively goal and objectives can be yearly, semiyearly, or quarterly client to valid. People accountable for executing their account management plan, you and your key account manager also needs to have and! 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