Appointing Strategic Account CHAMPION to drive growth and profitability

By Seshachari, September 25, 2017

Building relationships with existing clients to transform them into strategic accounts is a central component of sales strategy, because peddling an existing account is easy, predictable and more profitable than acquiring new logos. On an average, most B2B companies expect nearly three-quarters of their planned revenue and profits to come from existing customer base.

Account mining and growing existing accounts is the best profitable ways to increase Customer Experience, Loyalty and Sales. Sales performers, in strategic account management, experience significantly greater revenue growth, profit growth, and year-over-year client satisfaction, than the rest.

To accelerate growth, and turn opportunities into account growth reality, account managers have to validate and change those account plans time to time. The plan should clearly list down customer objectives, goals, business drivers, performance indicators, competitors SWOT analysis, etc. Account managers must know how much potential exists within strategic accounts and what they need to do to safe guard & grow these assets.

It’s important to allocate someone at a senior management level, to CHAMPION the process and drive, monitor and track the entire SAM (Strategic Account Management) program. This SAM CHAMPION will take the support of top management and gets onto each of those client’s account program agenda, fine tunes changes as per requirement, and reports to the Chief Customer Officer.

The appointed CHAMPION should be passionate, have good influencing skills and great energy levels to win over people’s hearts & minds, and most importantly sell the message about SAM initiatives within the company.

The CHAMPION typically focuses on mid & large value opportunity pipelines, coaches the account teams (Cost to serve & not just the top line alone) for success & assist to build business case, and develops a client specific plan to realize Lifetime Value of their customer.

A SAM CHAMPION demonstrates the path to success and is balanced, portraying the big picture to the top management on how the organization is functioning, covering all significant areas of business operations, and striking the cord between the amount of information collected and the costs.

The SAM CHAMPION’s focus areas & dashboard:

1. Team assessment analysis & effectiveness
2. Voice of the customer (VOC) incorporation in account plan to re-define targets
3. Re-purchase rate % on total revenue
4. Account Relationship Index
5. Customer relationship trust meter
6. Work shop outcome – Co-value creation & fitment analysis & monetization of mutual value
7. Revenue – Top & bottom line, wallet share, revenue estimated potential & future
8. Opportunity pipeline assessment Index
9. High value activates vs. financial impacts
10. Operating expenses – Fixed vs. Variable %
11. SAM program effectiveness
12. Messaging / communication effectiveness
13. SAM Process Maturity Index
14. CSAT index
15. Account leadership level

SAM CHAMPIONs do a better job of uncovering the weak signals of an account, identifying the natural behaviors of a qualified opportunity, and alerts sales to do the perfect pitch to create valuable customer experience from the target account.

SAM CHAMPIONs track, monitor and manage the program’s health-checks, and promise the customer value journey better. Besides, they build more trust, deliver more results by influencing the internal team collaboration, and make sure that Message Communication, Process fitment & alignment are in line to get buy-in from the target account.

By appointing SAM CHAMPIONs, the organization can bring about positive organizational changes ; increase value and results over time; outperform competitors & build growing lifetime value of their customers – Give it a try, it really works!

5 (100%) 2 votes
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Seshachari

Chari as an SVP Business & Delivery - Global, brings over 25+ years of experience in the IT. Chari is responsible for P&L, setting up of GDM Delivery engine-Defining, Implementing and Managing large team setups, driving continuous stream of Innovations and Business Transformation for Value Creation and Revenue Generation with centre of excellence focused on Business/Vertical Priorities through non-linear growth, creating multiple IP's - Value Solutions Development Framework (VSDF), integrating components using next-gen technologies like BPM/SOA/ ESB/ J2EE platform & solutions to its global customers.

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