3 account management mistakes in consolidated markets
Avoid these three account management mistakes in consolidated markets, and you’ll be more likely to retain your major sales accounts.
In our sales quick clips video series, listen to Diana Weigand, Sales Consultant at Korn Ferry, on the what and why of sales methodology.
Sales methodology provides a roadmap for sellers as they navigate the buying process. It gives insights of the how and what to inspect and what to do. Ultimately, it allows you to assess position, identify risks and understand your strengths in order to have a very strong and healthy action plan.
Clearly, consistent methodologies allow for a common language across the enterprise. It allows for repeatability of those winning practices, as well as scalability of the selling organization. Ultimately, it aligns a cohesive team for winning.
Not all sales methodologies are the same. It's important to find one that's been proven in your industry over the decades of change that have happened. Secondly, it should align to how your sellers sell and be easy to use for the sellers and the sales leaders.
You want to look for a methodology that has deep assessment of risk and the decision dynamic, as well as the competitive environment that allows the selling organization to have very healthy action plans. And lastly, the data that you get from a sales methodology should provide some of the leading indicators for healthy interventions of coaching and decisions across the enterprise.
COVID-19 has brought on a big change in the buyer's journey, which is really forcing the selling organizations to change how they operate and engage with the buyers. We also know that there's been an increase in the number of buying influences and stakeholders that are weighing into opportunities and the complexity of the sale is increasing. Methodology helps drive some structure and some proven approach to winning.
Your sales methodology should connect to your go-to-market strategy. It should align closely to your buyer's journey and your sales process. And lastly, it should connect to your differentiated value that you bring to that buyer along that journey, so your value messaging should be linked to your methodology, as well.
The leader should be leading the way when you're implementing a sales methodology. That means they must be more fluent than the sellers in the methodology, actively using the tools, the language and the analytics throughout the process. Leaders who provide early-stage coaching to the sellers is also a critical factor for success. While they use the methodology and analytics and provide that coaching, it enables the seller to pivot early and win more effectively.
The leaders are the change champions, so best practices such as providing wins, showing success across the organization and celebrating those successes are also critical success factors for implementing a methodology.
Learn more about our sales training by Miller Heiman Group, now part of Korn Ferry. It is the go-to sales framework for companies around the world and designed to help organizations manage complex sales processes involving multiple decision-makers.