Account Management: The Next Frontier for Business Growth | Recurring income


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Recurring revenue in a digital world

"By 2020, all new [software] Participants and 80% of historical providers will offer subscription-based models "- Gartner

We are seeing a business trend via digital channels and associated with a subscription-type activity. We've seen it in the world of consumerism, where subscription-based e-commerce has grown more than 100% per year over the past five years, and in technology services, where all new entrants into software will be based on the SaaS mode by 2020. has clear implications on how activity planning and accounts is performed as users now have fewer barriers to entry and more choice, which leads to a decrease in customer loyalty. This means that customers, or more precisely users, expect to "try before you buy" and make additional investments over time compared to a major purchase (that is, ie in SaaS mode or on site).

In this world, development and extension strategies are common. Suppliers therefore rely more and more on the revenue generated after the initial transaction and on the expansion of the organic pipeline to increase their turnover. Gartner's research shows that 80% of a company's future revenue will come from 20% of existing customers. This clearly highlights the need for organizations to have a strategic account management plan to increase customer loyalty and maximize growth potential. Unfortunately, sales organizations face major challenges because they do not have the right technology to develop their organizational capabilities.

Account Manager | Challenges as strategic revenue generators

Account Manager | Challenges as strategic revenue generators | Account Management: The Next Frontier for Business Growth | Recurring income

"Only 28% of sales managers say that account management channels regularly meet their cross-selling and account growth objectives" – Gartner

At InsideSales.com, we believe account managers need the industry's best tools to maximize their growth potential. New offers and customer acquisition are not enough to meet revenue goals. Today, account managers are facing a series of challenges to unlock the growth of their existing account base. "

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<li><strong>Sufficient penetration of the territory: </strong>Account Managers only receive a small percentage of their total accounts, focusing on the "easiest" client to talk to or with those with whom they have the best relationship. However, these relationships are not always ideal to develop and promote.</li>
<li><strong>Priority and coverage of smart accounts: </strong>There are too many accounts in a territory to determine which is a key account to develop and where a person has to spend their sales efforts or track past activity.</li>
<li><strong>Execution and organization of sales and marketing: </strong>It is difficult for account managers to carry out marketing campaigns because it requires too much manipulation and organizing everything is a challenge.</li>
<li><strong>Tracking basic account activities: </strong>The monitoring and visibility of customer management in the account manager is limited, which makes it difficult to justify the work done, creates difficulties during transitions and prevents management from optimizing existing processes or practices.</li>
<li><strong>Renewal of account: </strong>Renewals are managed manually, without a structured game book or sales strategy, to engage customers in a thoughtful and strategic approach to reclaim their business.</li>
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<p>By focusing on account management to make it a revenue generating strategic function, and making it usable, we will provide an additional pipeline to any potential supplier.</p>
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Productive, efficient and structured account management

Our vision for the future of Account Management is an organization with technology that provides visibility into customer interactions, automates sales expansion games and maximizes customer lifetime value by discovering new growth opportunities. We believe that the account management team should clearly see the benefits of the tools it uses, such as:

  • Smartly prioritized accounts
  • Cadence and scope structured during future renewals
  • Visibility in points of contact and customer activity
  • Systematic and complete coverage of the account
  • Increased upselling and cross selling opportunities
  • Increased productivity and account coverage capacity

Our clients are able to generate more revenue from their existing accounts by knowing where and how to spend their time. Our unique platform uses IA optimized by collective intelligence[[[[1] help identify the right accounts to target and further assist representatives to engage those customers intelligently. Account managers also benefit from more relevant CRM data, based on the actual response rates of specific email addresses and phone numbers, which improves the overall productivity of the team. The combination of artificial intelligence through collective intelligence will allow Account Managers maximize their effectiveness and ultimately create a strategic income function.

[[[[1]Collective The intelligence consists in using real results, inter-company, on our platform to guide our users via Machine Learning.

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How do you think Account Management helps to generate recurring revenue? Share your thoughts in the comments section.

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Suneal Rao | Account Management: The Next Frontier for Business Growth | Recurring income

Suneal Rao is Director of Market Strategy at InsideSales.com. He is always happy to hear how business organizations are improving their effectiveness and would like to know what is working well (or not good) for you. Leave a comment below!