5 Steps for Executing on Your Account Plan

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5 Steps to Ensure You are Executing Your Account PlansPresented by:Jennifer Earl, SVP, Sales and Services, Revegy


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Welcome

Revinar /rev-uh-nahr/ 1. a webinar series dedicated to sales planning and execution practices which drive revenue


• The Cost of Not Executing Against Your Plan• Common Pitfalls• Components of a Great Account Plan• 5 Steps to Ensure You are Executing Your Account Plans• Summary• Q&A

Agenda


Cost of Not Executing Your Plan

Needs Improvement Adequate Exceeds Expectations0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

42.9%48.1%

60.4%

24.0% 22.7%

16.7%

33.0%29.2%

22.9%

Win %No Decision %Loss %

How would you rate the ability of your sales teams to develop effective/comprehensive key account plans?

Source: CSO Insights, 2014 Sales Management Optimization Study


The Cost of Not Executing Your Plan

Needs Improvement Adequate Exceeds Expectations0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

46.6%57.2%

78.1%

% Reps Making Quota

Source: CSO Insights, 2014 Sales Management Optimization Study


Critical Success Factors of a Great Account Plan

View Recorded Session @ www.revegy.com/revinars

Process1. Prioritize/Segment Accounts2. Common Process, Tools &

Language3. Account Reviews/Coaching4. Collaborate

Plan Elements1. Understand the customer’s

goals and how they measure success

2. Identify and nature key relationships

3. Leverage customer value scorecards

4. Build collaborative, team-based action plan

5. Measured the results



The Disconnect

Percentage of Account Plans Effectively Executed11%

Source: SAMA Global Survey of 322 Strategic Account Managers/Executives


Common Pitfalls to Effective Execution

Pitfall #1 One & Done – sales planning viewed as an annual, compliance/academic exercise.

Pitfall #2 Narcissistic – focusing sales planning and sales process on what you have to “sell” vs. the customer’s needs.

Pitfall #3 Rear-view Mirror – relying on data and facts that have already happened, what we know and what is easy to get your hands on.

Pitfall #4 Mum’s the Word – account and execution plans are created and reviewed only internally.


Signs of the Pitfalls

• Have you been surprised by a big change in direction or management at your customers?

• Are the bulk of interactions with your customers around responding to a product evaluation?

• Are your company’s regions/business units each pursuing their own goals without a common course of strategy and action?

• Does your customer view you as a “vendor” and not a “partner”?

• Are deals delayed or killed when they land on the CFO’s desk for signature?

Ask yourself: “Is this happening to me/at my company?”


5 Steps to Ensure You are Executing Your Account Plans

Overcoming the Execution Challenges

Using your Account Plan for Quarterly Reviews

3 Critical Areas for Establishing Account Goals

Do you Have the Right Information to Drive Execution

Leveraging your Account Plan for Deal Execution

Keeping the Account Plan Evergreen




External Business Reviews with Customer


Internal – What?Account Plan Reviews with Account Team

Development of the Entire Filed forces business acumen skills and ability to drive results.

Reinforcement of key messages related to the strategy and the need to remain adaptable to meet marketplace challenges.

Consistent application of a process that focuses on:• Planning• Review• Recalibration




Internal – Why?Account Plan Reviews with Account Team

Establish your own goals for what you want to achieve in the account.

Identify milestones and actions required to ensure you achieve those goals.

Gain commitment of internal resources to hit milestones and ultimately achieve goals.

Serve as common platform for collaboration across / within teams.




External – What?Account Plan Reviews with Customer

Present as a collaborative plan between you and your customer.

Outlines what you have done, how you are doing and where you are going.

Providing framework as to how you agree to work together in achieving business goals and initiatives in the coming years. (Relationship Development/Access Support; Resource Dedication; Sponsorship; Key Meetings; Joint Metrics, etc.)




External – Why?Account Plan Reviews with Customer

Sets mutual expectations.

Establishes a framework for value metrics.

Establishes foundation and cadence for access to customer executives.

Positions you as a Strategy-Centric vs. Product Centric Sales Professional.

Gain Greater visibility into Customer’s buying journey – begin consistently mapping your sales process and plans.




Quarterly Briefing Reviews Mistakes to Avoid

• Lack of Value• Tempo• Not Having the Right Resources Present• Seen as a Compliance Event• Missing Clarity• Inconsistent• Lack of Common Language / Review

Process• No Accountability• Administrative Burden• Reactive


Quarterly Business Reviews – Internal

Standardized Agenda Begin from the Internal Account Plan*

*(Objective - provide an update on progress made from previous QBR) Review Status of Goals, Objections, Actions.

Progress, Roadblocks, Risks, BarriersFocus for Next Quarter

Team reviews the Relationship, Strategy and Whitespace Maps (to provide support/frame of reference for Internal Plan)

Review Potential Opportunities Review Risks/Barriers Update Internal Plan, Maps in Real-Time

Revegy Best PracticesScheduled in Advance Conducted with the Account Team from the Revegy Tool


Quarterly Business Reviews - External

l


3 Critical Areas for EstablishingAccount Goals




Begin with the End in Mind

…begin each day, task, or project with a clear vision of your desired direction and destination, and then continue by flexing your proactive muscles to make things happen.

-Stephen R. Covey, Habit #2, “7 Habits of Highly Effective People”

“ “




Revenue Goal

Customer Success Goal

Relationship Goal


Do You Have the Right Information to Drive Execution


Information to Review

• Whitespace• Customer’s Strategy• Right Relationships

Apply Critical Thinking

Missing Pieces

Action Items should include what you DON’T know and how you are going to get the information – Internal Account Plan

Do You Have the Right Information to Drive Execution


Leveraging Your Account Plan for Deal Execution





Examples of How Companies Leverage Account Plans(Internally and Externally)

Customer Goals and Strategies• Secure Budget/Commitment • Assist Sponsor with Business Case

Relationships• Access to decision makers • Understand Risk

Internal Account Plan• Right Activities / Right Time





Governance and Operationalizingthe Account Plan


Summary Slide

5 Steps to Ensure You are Executing Your Account Plans



Leveraging your Account Plan for Deal Execution

Do you Have the Right Information to Drive Execution



Join Us for Our Next Webinar

The Missing Link in Account Planning O Customer Collaboration

April 15 1:00pm – 2:00pm (ET)

Register Today!www.revegy.com/revinars


A Brief Introduction to Revegy

Revegy’s technology makes sales planning and execution happen.Intelligent Playbooks and Collaboration Tools for: • Strategic Account Planning• Opportunity Execution• Territory Business Planning • Channel Planning


We Serve B2B Sales Teams


Thank you for joining us!

2015 Revegy Account Planning Template (available by the end of March)

Email: Michelle at [email protected] line: Account Planning Template

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Q&A