Building a Strategic Account Management Practice. Building a Strategic Account
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- Randolph Sherman
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1 Building a Strategic Account Management Practice Jim Contardi, Leader, Product Solutions and Strategic Sales, First Data James Jacobson, Senior Consultant and Account Coach, Richardson Building a Strategic Account Richardson
2 Business Challenges
3 Business Challenges
4 Business Challenges
5 Business Challenges
6 Collaborative Account Development is an enterprise-wide, client-centric approach to working with a limited number of strategic accounts that leverages a powerful blend of process, strategy, and dialogue skills to continuously achieve long-term, measurable business value for both the client and you. 6
7 Typical Buying Cycle Create 8. Measure Solution 1. Set Business Goals 2. Define Objectives 7. Implement Solution 3. Assess Challenging Issues 6. Select Solution, Negotiate, and Close 5. Research and Compare Solutions 4. Identify Possible Initiatives Shape Respond
8 Building a Strategic Account Development Practice Five Integrated Components Account Development Methodology CRM Tools Embedded in Workflow Leader s Leading Change Management Engagement & Resource Allocation Expert Coaching of Account Plans
9 Collaborative Account Development Process Understand & Align Involve & Cultivate Reinforce & Grow Understand Involve Reinforce Client merits account plan Industry analysis Company analysis Competitive analysis Stakeholder analysis Potential opportunities to create value together Account team analysis Confirm account plan and message of value with coach Strategize with client stakeholders around known and emerging challenging issues bring insights Reprioritize opportunities and update account plan Gain access to client stakeholders Transition respond opportunities to the sales pursuit process Gather feedback from account team and client stakeholders to include in the value report Generate and deliver the value report to client stakeholders Conduct relationship review meeting with client stakeholders Identify gap(s) in relationship and develop a plan to close the gap(s) Align Brainstorm potential opportunities with the account team Agree on relationship goals and prioritize potential opportunities Create message of value Create tactical action plan to pursue opportunities and strengthen relationship Identify necessary investments Agree on accountabilities with the account team Validate account plan with leadership Cultivate Engage in additional dialogues to shape and create opportunities Build consensus among the client stakeholders for shape and create opportunities Transition validated opportunities to the sales pursuit process Implement tactics to strengthen the relationship Grow Reassess how you are viewed vs. the competition Demonstrate thought leadership; proactively position relevant insights that add value based on the client s changing goals, business objectives, challenging issues, and industry trends Follow a contact plan with key client stakeholders Probe account team and client stakeholders for changes in the business Return to the Understand and Align Phase Verifiable Outcomes Verifiable Outcomes Verifiable Outcomes Client meets the established strategic criteria Leadership validates the account plan Initial meeting with client stakeholders scheduled Coach provides feedback on the account plan and message of value Client stakeholders validate and prioritize opportunities as well as tactics to strengthen the relationship Client stakeholders provide information about political landscape Client stakeholders provide feedback during the Relationship Review Meeting Client stakeholders include us in the decisionmaking process Client stakeholders provide referrals to other parts of the organization Copyright 2012 Richardson. All Rights Reserved.
10 CRM WorkFlow App : Account Relationship Map
11 Building a Strategic Account Management Practice: First Data Corporation Case Study Jim Contardi, Leader, Product Solutions and Strategic Sales, First Data
12 First Data s Objectives
13 Building a Strategic Account Development Practice Five Integrated Components Account Development Methodology CRM Tools Embedded in Workflow Leader s Leading Change Management Engagement & Resource Allocation Expert Coaching of Account Plans
14 Building Momentum to C Building Momentum to Change Launch Webinar Research & Analysis Pre Work Account Plan Development Presentation to Senior Leadership Quarterly Coaching (QBR) Ongoing Reinforcement CRM Tool Webinar Classroom Session (Phase 1) Account Plan Refinement Workshop Classroom Session (Phase 2/3) Ongoing Management Reviews Richardson
15 Approach: Different by Segment Wave 1: Account Plan Development - Top 24 Accounts 3 days in CAD workshops, half day refinement coaching workshop over three months & follow up quarterly coaching Wave 2: Account Plan Development - Next 134 Accounts 2 days in CAD workshops, half day refinement coaching workshop over three months & follow up quarterly coaching Wave 3: Account Plan Development - Community Bank 2 days in CAD workshops, half day refinement coaching workshop over three months Richardson
16 Case for Change
17 Broad Participation
18 Incremental Progression
19 CRM-enabled Workflow tools Embedded Tools
20 Speed to Market
21 Early Success Reinforcement
The Financial Services Industry: Sales Trends and Strategic Initiatives
Contact the Richardson Team at 215-940-9255 RICHARDSON 1818 MARKET STREET SUITE 2800 PHILADELPHIA, PA 19103 TEL 215.940.9255 WWW.RICHARDSON.COM or visit us on the web at www.richardson.com COPYRIGHT 2014
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