Author: Karthik Nagendra

Forrester Checklist: Account Planning Readiness Assessment by Forrester

Account Planning Readiness Assessment: Developed by Forrester Assess your organization’s readiness for effective account planning with this downloadable checklist by Forrester. Evaluate crucial elements such as organizational culture, collaboration, data analytics, and customer insights. Receive actionable guidance and industry expertise to enhance your account planning capabilities and drive long-term success. By utilizing the Account Planning Readiness Assessment Checklist, organizations can gain a comprehensive understanding of their strengths and weaknesses in account planning. This self-assessment facilitates informed decision-making and aids in prioritizing initiatives that will drive improved customer engagement, revenue growth, and long-term success.

The Shift Podcast on Digital Key Account Management: Sherrod Patching, VP CSM at Gitlab

Maximizing Customer Retention with Key Account Management Looking for valuable insights into growing your existing customer base? The Shift Podcast has got you covered! In episode #9 of The Shift Podcast Dr. Karthik Nagendra speaks to Sherrod Patching, VP CSM at Gitlab to delve into customer retention trends, strategies, challenges, and much more. Learn how to leverage customer success and account management teams to drive growth. In this podcast, you’ll get to: Understand emerging trends in customer success Align product features with customers’ top-level business objectives Address challenges in account planning and governance Leverage analytics and Big Data for customer success and account management Tune in to The Shift today!  

The Shift Podcast on Digital Key Account Management: Prasad Varahabhatla, Senior Director, Sales & Data Operations @Philips

Digital transformation has become an essential element for businesses to remain competitive in today’s ever-changing business landscape. It has provided many benefits, including increased productivity, improved customer satisfaction, and enhanced sales performance. What has changed in the sales experience, since the ability to integrate digital tools seamlessly into the sales process has improved? In episode #8 of The Shift Podcast on Digital Key Account Management, Prasad Varahabhatla (Senior Director, Sales & Data Operations at Philips) and Dr. Karthik Nagendra (Chief Marketing Officer at DemandFarm) discuss what goes into streamlining the sales experience in digital key account management. In this podcast episode, Prasad shares his thoughts on 1) Integrating digital tools and platforms into the sales process 2) Increasing popularity of Rev Ops as a function and it’s future 3) Dealing with the entire customer journey from landing to renewing 4) Customer adoption and long-term value creation And much more…! 

Comprehensive Career Path Guide for a Key Account Manager

Key Account Management (KAM) focuses on building long-term relationships, and aims to improve customer satisfaction – especially in a B2B scenario. The KAM practice is essential in ensuring that a company retains its most valuable customers and that these customers receive the best possible service and support. A key account manager’s primary responsibility is ensuring that the needs of key clients are met, and that they remain satisfied with the company’s products and services. To do this effectively, they develop a deep understanding of the client’s business and their industry. This includes understanding their goals, challenges, and the competitive landscape in which their clients operate. They are also responsible for identifying new opportunities for growth and working closely with internal teams to develop strategies that drive revenue growth. They must also collaborate with marketing, sales, and product development teams to ensure that their clients receive the best possible service and support. While the key account management practice is demanding, it also offers many benefits. One of the most significant benefits is the opportunity to build strong relationships with key accounts, which can lead to long-term customer loyalty and repeat business. Additionally, the role of a key account manager offers varied opportunities for career growth and advancement, as many companies recognize the strategic importance of the position and invest in developing skills of their key accounts team. Key account management provides exposure to different departments within the company. Managers often work closely with sales, marketing, and product development teams, gaining a broad understanding of how the company operates and how different teams contribute to the overall success of the business. This exposure can provide valuable insights into different areas of the business and can help them develop a holistic view of the company. The position can be financially rewarding too, as many companies offer competitive compensation packages to attract and retain top talent in this critical role. Leading organizations also provide commissions and bonuses based on the growth and retention of their key accounts, opening up another avenue for managers to earn from skills. What does a Key Account Manager do? A Key Account Manager is responsible for managing a company’s most important clients or accounts. Their primary goal is to ensure that their clients are profitable and satisfied enough to remain loyal to the company. They achieve this by focusing on revenue and retention, and by identifying opportunities for growth and improvement. Their day-to-day activities may include conducting regular check-ins with key accounts, analyzing data to identify trends and opportunities, presenting product updates and new features, negotiating contracts and pricing, and ensuring that customer issues are resolved quickly and effectively. Regular analysis of a client’s spending habits is a crucial aspect of KAM. By understanding how much their client is spending and on what, managers can recommend ways to optimize the use of the company’s products and services. They may also suggest new products or services to address the client’s unmet needs, and help the client see how these solutions can solve their problems. While key account managers are tasked with generating additional revenue from their accounts, this is not done at the expense of the client’s satisfaction. They must balance the need for revenue growth with a deep understanding of their client’s needs, preferences, and budget. One way to generate additional revenue is to sell complimentary or upgraded products and services. Another approach is to increase the amount of business the client does with the company, either by expanding into new areas or by increasing the volume of purchases. Improving margins is also an effective way to generate additional revenue, which may involve raising prices or finding ways to reduce the cost of serving the client. Key Account Management is a relationship and service-driven role. Key account managers work with a range of individuals within a client organization, from end-users to decision-makers to CEOs. Building strong relationships and improving customer loyalty are important for long-term success. They must be able to communicate effectively with different stakeholders and adapt to the client’s changing needs and expectations. The role of a Key Account Manager is critical to the success of a company’s most important clients. Their responsibilities include managing revenue and retention, analyzing spending habits, identifying growth opportunities, and building strong relationships with key stakeholders. They help their clients achieve their goals, while also ensuring the continued growth and success of the company. Qualities required to be a good Key Account Manager A Key Account Manager plays a crucial role in maintaining a positive and productive relationship between their organization and its most important clients. To excel in this position, certain qualities are required. While these are inherent in some, they can be learned with practice. Strong collaboration and interpersonal skills: The Key Account Manager must establish and maintain warm partnerships with their key accounts, and this requires focused attention, responsiveness, and quality communication. Being able to listen, remain flexible, address a diversity of needs, and stay open, even in complicated or heated situations, are critical interpersonal skills. The ability to collaborate well with people from different company cultures is also vital. Written and spoken communication skills: Facilitating communication between all parts of their organization and those of their key accounts is a primary job of key account managers. Being able to identify the communication styles of the people they work with and tailor their approach accordingly is crucial. The Key Account Manager must be able to adapt their language to each specific audience, as different people require different communication styles. Strategic thinking: Managers should think strategically to create mutually beneficial scenarios for their key accounts and their organization. This requires careful planning and strategic thinking in areas such as operations and sales. The Key Account Manager must aim to create a win-win situation for both parties. Analytical skills: Key account managers analyze threats and opportunities within their industry and their key accounts’ industries. Financial analysis skills are often beneficial for Key Account Managers. Sales and business development skills: Increasing

The Shift Podcast on Digital Key Account Management: Pavel Carballo, Director, Enterprise Sales Nordics @ Databricks

The ability of a company to effectively manage and grow its strategic accounts directly impacts revenue generated from high-value customers. How does one manage key accounts and set up successful key account management processes? In episode #7 of The Shift Podcast on Digital Key Account Management, Pavel Carballo (Director, Enterprise Sales Nordics at Databricks) and Dr. Karthik Nagendra (Chief Marketing Officer at DemandFarm) discuss what goes into key account management success. In this episode of the Shift podcast series, Pavel shares his thoughts on measuring the success of key account management efforts including: 1) Metrics that should be used 2) Tracking progress over time 3) Using data to make informed decisions 4) Leveraging data and technology 

65+ Essential Key Account Management Terms Explained: Key Account Management (KAM) Glossary

KAM Glossary (with 68 Definitions)   To help strategic account managers / key account managers /sales professionals enhance their understanding of Key Account Management (KAM), this glossary provides clear and concise definitions and explanations of essential terms, definitions, and concepts related to key account management. What is key account management? Whether you’re new to Account Management or a seasoned KAM professional, this glossary can help you improve your knowledge of account management & strategic selling strategies and build stronger relationships with your most important customers. Key Account Management Glossary: 65+ Crucial Account Management Terms Explained   Account Hierarchy: Account Hierarchy is the structure and organization of key accounts within a company visualized in a hierarchical system of decision-makers and stakeholders. Account Management Account management is a strategic approach to managing business relationships with key customers or clients. The goal of account management is to develop and maintain long-term relationships that create value for both the customer and the business. Account Mapping The process of representing customer-centric data points and relationship dynamics in a visual way is known as Account Mapping. It is used by sales and account management teams to understand how customer organizations work, identify key decision-makers, and plan their course of action. Account Planning Account Planning is the process of developing a strategic plan for managing and growing key accounts, typically involving collaboration between sales, marketing, and customer success teams. Account Planning Software Account Planning Software refers to technology solutions or tools designed to support the key account management process, typically featuring tools for account segmentation, account planning, account reviews, relationship mapping, and opportunity management. Account Planning Templates Account planning templates are structured, pre-defined blueprint documents used to manage strategic & key accounts. They include key details about the client, such as strategic goals, relationship maps, opportunities and challenges, action plans, and success metrics. They help ensure a consistent and focused approach to account management. Account Review Meetings Regular meetings between a company and its key accounts to review progress, identify challenges, and set goals for future growth and collaboration. Account Segmentation The process of dividing a company’s customer base into groups or segments based on factors such as size, industry, and revenue potential. Account-Based Marketing (ABM) A marketing strategy that is aligned with account-based sales, focusing on targeting high-value accounts with personalized, targeted campaigns. Account-Based Sales / Account-Based Selling (ABS) ABS or Account-Based Sales / Selling is a sales strategy that focuses on targeting a specific set of high-value accounts and tailoring sales and marketing efforts to their unique needs and preferences. Champions Champions are Individuals within a key account who are advocates for a company’s products or services and are willing to help promote and support their adoption within the organization. Consultative Selling Consultative selling is a sales approach focused on building relationships with customers, understanding their unique needs, and providing customized solutions based on valuable insights and expertise. The goal is to establish trust, drive sales, and help customers achieve their business objectives. Contract Renewal Management The process of managing the renewal of contracts with key accounts involving negotiation, pricing, and value proposition analysis is known as Contract Renewal Management. Cross-selling The process of selling related products or services to existing customers, typically with the goal of increasing revenue and customer lifetime value is called Cross-selling. Customer Acquisition Cost (CAC) The total cost associated with acquiring a new customer, including marketing and sales expenses. Customer Advocacy The process of mobilizing key accounts to become advocates for a company by getting testimonials, case studies, and referrals. Customer Churn The rate at which customers stop doing business with a company over a given period of time. Customer Feedback Information and insights provided by customers about their experiences with a company’s products, services, and support. Customer Journey The path that a customer takes from initial awareness of a product or service to becoming a loyal advocate. Customer Journey Mapping The process of visualizing and analyzing the various touchpoints and interactions that a key account has with a company is Customer Journey Mapping. It is used to identify opportunities for improvement and optimization. Customer Lifetime Value (CLV) CLV is a metric that represents the total value a customer is expected to bring to a company over the course of their relationship. Customer Retention The process of maintaining ongoing relationships with existing customers, with the goal of reducing churn and increasing lifetime value. Customer Segmentation The process of dividing a company’s key accounts into groups based on their specific needs, preferences, and behaviors, often used to inform targeted sales and marketing strategies is Customer Segmentation. Customer Success A function within a company that is focused on ensuring customer satisfaction, retention, and long-term value. Detractors Individuals within a key account who are resistant to a company’s products or services and may actively work against their adoption or use within the organization are Detractors. Digital Key Account Management The use of digital tools and platforms to manage relationships with key accounts is Digital Key Account Management. It involves the use of a combination of connected applications like Key Account Management Software, CRM software, data analytics, and communication tools. Enterprise Deals Large, complex deals involving multiple decision-makers and stakeholders within a key account, often requiring a high degree of relationship-building and strategic planning. Executive Sponsorship A key account management strategy that involves engaging senior executives from both the company and the key account in the relationship-building and growth process. Global Account Management The process of managing relationships with key accounts across multiple regions and countries, often involving a complex network of decision-makers and stakeholders is called Global Account Management. Influencer An influencer is an individual or group within a customer’s organization who has the ability to affect or shape the decision-making process related to the purchase of a product or service. Influencers are not necessarily the final decision-makers, but they can play a crucial role in influencing the decision-making process by providing information, insights, or recommendations to decision-makers. Joint Business Planning A collaborative

Challenges in Digital Key Account Management Adoption and the need for Change Management

Digital Key Account Management is the process of managing and growing a company’s most important customers using digital tools and technologies. It is essential for Sales Enablement, as it enables businesses to manage their key accounts more efficiently and effectively. However, adopting Digital solutions for your Key Account Management process comes with its set of challenges. Challenges in adopting Digital Key Account Management for Sales Enablement 1. Integration with Existing Systems One of the main challenges of adopting Digital Key Account Management is integrating it with existing systems. Many businesses use a variety of digital tools and platforms to manage their key accounts, such as Customer Relationship Management (CRM) systems, Marketing Automation software, and Business Intelligence tools. Integrating a new Digital Key Account Management tool with these existing systems can be complex and time-consuming, requiring significant investment in IT infrastructure and resources. Finding a solution that can integrate well into your existing sales tech stack is thus essential. 2. Maturity Level and Discipline Before adopting Digital KAM tools, businesses need to assess their readiness to leverage these tools effectively. This requires having a clear understanding of the organization’s maturity level and discipline. Is the organization ready to adopt a digital approach to account planning, and does it have the discipline to use it effectively? Implementing Digital Key Account Management tools requires discipline, as it involves following a set of processes and procedures consistently. Therefore, businesses need to assess their level of discipline and maturity before adopting. 3. Account Complexity As accounts grow in complexity, businesses need a strategic view to manage them effectively. Digital Key Account Management tools can help businesses manage complex accounts effectively by providing a comprehensive view of the account and its activities. Therefore, businesses need to assess the complexity of their accounts before adopting Digital KAM tools. 4. Changing Client Needs Businesses are constantly evolving, and client needs are changing rapidly. Therefore, businesses need to keep a dynamic planning approach to stay aligned with their changing needs. There is a need to stay aligned with their clients’ changing needs by providing real-time data and analytics. Therefore, Digital Key Account Management tools need to be able to keep up with the evolving needs of their clients. 5. Resistance to Change One of the biggest challenges of adopting Digital Key Account Management is resistance to change. Many sales teams may be hesitant to adopt new digital tools and technologies, as they may be comfortable with their existing processes. Resistance to change can slow down the adoption process, and even derail it altogether. Sales Enablement leaders must work with sales teams to overcome resistance to change by showing them the benefits of the digital tool being adopted and providing training and support, and involve them in the decision-making process. Need for Change Management Sales teams and stakeholders need to both be on board with changes. Here are a few reasons why change management is necessary for successful implementation of digital account planning solutions: 1. Combating Resistance to Change As mentioned earlier, one of the biggest challenges to adopting digital key account management solutions is resistance to change. With the right change management processes, this resistance can be curbed. Enthusiastic early adopters and tech-savvy team members who are less resistant to change are vital to overcoming the inertia that usually follows any major changes that are implemented in a digital ecosystem. 2. Clear Communication Effective communication is critical in any change management initiative, including Digital Key Account Management. It is essential to communicate the changes, the reasons for the changes, and how the changes will affect the sales team overall and other stakeholders. Clear communication can help to ensure that everyone is on the same page and that there is a shared understanding of the goals.  3. User Adoption If the sales team and other stakeholders do not adopt the new digital tools and processes, the implementation will not be successful. Change management can help to ensure that the sales team and other stakeholders are prepared to adopt the new digital tools and processes by providing training and support and involving them in the decision-making process. 4. Managing Expectations It is essential to set realistic expectations about what a shift to digital account planning can achieve and the timeline for achieving those outcomes. Managing expectations can help to avoid disappointment and frustration, which can lead to resistance to change. Download: Change Management Guide for Sales Leaders to Implement Digital Account Management Software How does one go about championing a change to Digital Key Account Management? There are three main criteria that go into championing the change to Digital Key Account Management 1. Aligning with your organization: Did you know that the tools and language used in the organization’s daily life might not be the same as the standard? It’s important to make sure that the requirements are aligned before implementing anything. Plus, aligning with previously existing systems also reduced naysayers when it comes to the adoption of a new digital Key Account Management tool.  2. Getting a team of ‘Advocates’: Having a group of beta testers or advocates can make it much easier to introduce new tools to your organization. These advocates are essentially super users who have tried out the tool, which means any issues can be sorted out before they roll it out to the organization. Plus, they can help others get trained on the new system, acting as champions for the change. Having these ‘advocates’ on board can make a huge difference when it comes to shifting to a digital key account management practice. Ensuring that you have the right early adopters is essential for showing value. It takes time to embrace change, and the right early adopters can speed up the process to show the value of adopting a new digital ecosystem that might be something they are not used to. It is a challenge to set aside time to take up something new, but enthusiastic early adopters can accelerate this adoption. 3. Support from

It’s 2025! It’s time to go Digital now and adopt Digital Key Account Management!

The question ‘is it time to go digital with your KAM’ can be addressed from two perspectives – internal and external. Internal perspective: First is the internal perspective. At the organizational level, the question to ask yourself is whether it is the right time to take the plunge. In uncertain times, what is generally seen with customers is that the tacit knowledge of key accounts is retained by certain account managers. Unfortunately, in circumstances where those account managers get laid off or furloughed, the critical knowledge they possess is also lost. The account intelligence is ‘in their head’ and they take it with them.  External Perspective: When you try to look at it from an external perspective, there is a lot more risk involved with large key accounts. Most large accounts are hedged on just one person or “champion” giving them their maximum revenue. In case that person leaves your accounts, the amount they were bringing into the organization is automatically at risk. In such a situation, it is important to give visibility to the organizations that relationships are important.  Why should you adopt Digital Key Account Management? What are some of the benefits of adopting digital account planning solutions for your key accounts?  How will it optimize the investments in your organization and build stronger relationships with your customers?  How will it be different from the existing account management strategies that you have adopted for your key accounts?  To answer these, it is essential to know how digital key account management can be a value-add in your organization.  Centralize Account Intelligence It’s time to strengthen and centralize this account intelligence. The key to this is making account intelligence an asset within your organization. This enables the next person who is supposed to take over that particular key account to have more visibility. Increase Internal Collaboration: Considering the current work-from-home or hybrid environment that most organizations have adopted, collaboration is a must. Collaboration has also become much more challenging than before because of the sort of environment we live in. People often don’t have as much face time with each other as they did pre-pandemic. Thus, they need a common system or repository where they can come together and collaborate on key accounts.  Increased efficiency Digital tools can help account managers automate day-to-day tasks and focus on more strategic tasks such as building relationships with key accounts and providing personalized solutions. By automating routine tasks, organizations can reduce the workload on account managers, enabling them to focus on higher-value activities. Personalized solutions Digital Key Account Management enables account managers to provide personalized solutions to key accounts by tailoring them to their specific needs based on predictive analytics and insights. By providing personalized solutions, account managers and sales leaders can build stronger relationships with key accounts, increasing customer loyalty and retention. Competitive advantage By adopting digital strategies, organizations can differentiate themselves from their competitors and meet the evolving needs of their customers. Organizations that fail to adopt digital strategies risk being left behind, as customers increasingly expect personalized and efficient solutions. Digital Key Account Management can help organizations stay ahead of the curve, ensuring they remain competitive in the long term. Improved analytics Digital Account Planning solutions provide organizations with improved analytics. This provides organizations with real-time data on key accounts, such as their engagement levels, preferences, and buying behavior. This data can be used to analyze trends, identify opportunities, and make data-driven decisions.  Mapping the right stakeholders If we are unaware of the key stakeholders, decision-makers, or influencers within the target client’s organization, there is a possibility of losing the lead and the entire deal in the highly competitive B2B world. In order to ensure that the bargaining power of your sales and account management teams doesn’t fall short of expectations, stakeholder mapping is a must. More importantly, stakeholder mapping also ensures that customer needs are being prioritized. Knowing what key stakeholders in large accounts need both in the short-term and long-term ensures that your organization can satisfy them and have a strong relationship with them to build on. Thus, mapping the right stakeholders is important.  Having visibility of white spaces Having visibility of the white spaces and your actions towards that is important to identify new opportunities and increase revenue within key accounts. By analyzing white space, or areas of potential growth and untapped opportunities within existing accounts, organizations can better understand their customers’ needs and preferences, and tailor their offerings accordingly. White space analysis also helps businesses to prioritize their resources and focus on high-potential opportunities, ultimately leading to greater profitability and customer satisfaction.  Additionally, by regularly conducting white space analyses, businesses can stay ahead of the competition and remain agile in a constantly evolving market, ensuring that they continue to deliver value to their key accounts over time. It’s important because you will have a better understanding of your customers about how the movements in these organizations are going and how it impacts your business and your strategies.  Choosing the right solution for going digital To maximize the benefits of your account planning strategies, it’s time to go digital. For this, picking out the right tool is vital. However, in the current digital environment we live in, there is an abundance of choice which makes choosing the right account planning a daunting task. Here are a few things to keep in mind when choosing the right solution for your key account management needs. Maximize Sales Tech & Martech ROI In a world where sales tech and marketing tech stacks already have an abundant presence in an organization, investing in another new tool can seem redundant. Hence, choosing a tool that can maximize existing sales and marketing tools your organization has invested in is important. It is important to note whether you are getting the ROI on the investments you have already made before making the next choice on your digital account planning tool.  Winning the CFOs approval: How to Present RoI of a Key Account Management Software

Benefits of Digital Key Account Management for Large Businesses

The world of B2B selling has transformed dramatically in recent years, as the shift towards digitalization has changed the way businesses interact with one another. With the growing size of buying groups in the digital age, it is imperative to consider factors that play into the challenges and benefits of digital key account management.  DemandFarm’s Dr. Karthik Nagendra-Chief Marketing Officer had a one-on-one chat with Andrew Collings – Head of Enterprise at Gearset where they discussed the changing landscape of B2B selling and shared insights on how organizations can adapt to this new environment.  Working with large businesses and going outbound According to Andrew, the key takeaway when working with large businesses and going outbound is being deliberate about a planned approach. This provides structure to your organization’s interactions. He emphasizes the importance of having a digital key account management software that: Integrates into Salesforce without requiring external software to manage accounts Represents data visually and is easy to use for faster adoption Accommodates custom needs accurately  Shows all information in one place without having islands of data “We live inside Salesforce. All of our customers are Salesforce users. So the key thing for me was getting something across that integrates really well. I didn’t want to add to the tech stack and have other random bits of software outside of that,” – Andrew Collings.  Challenges in Shifting to Digital Key Account Management Shifting to Digital Key Account Management also comes with its fair share of challenges. One of the primary challenges that organizations face is carving out time to document things in the tool. Additionally, making information shareable to everyone for increased collaboration and encouraging early adopters internally to drive usage is also important.  “ A lot of people are really great at keeping things in their head. So they know all the people involved, but it’s in their heads. So actually, you need to spend time and put it into the system so that everyone else can enjoy your knowledge.” – Andrew Collings Selling the value internally: Andrew’s advice is to get the enterprise team included in the decision-making process. Ensuring the entire organization is part of the change, making everyone an advocate and engaging the whole team will in turn make the adoption of Digital Key Account Management easier.  The leadership team plays a big role in creating an impression that as a business it is vital to understand all the stakeholders in the buying process. This will ensure that the rest of the organization will also become more involved once they realize its importance.  Discovering all the gaps: Another major challenge for Andrew was that they discovered all the holes in their accounts. With larger, multinational businesses with huge teams and thousands of staff, there were often just 3-4 contacts who might not necessarily be the right contacts. So knowing where there was a lack of contact, where the relationship needed to be strengthened, and in which accounts further work needed to be done proved to be vital to growth.  Is it time for a change? “When I was in the field selling, I used to do this on the spreadsheet, and it was one of the worst things I’ve ever done. And I look back at it and just think, that was really rubbish.” – Andrew Collings It is no longer sufficient to rely on PowerPoint presentations or rely on static spreadsheets for your Key Account Management and Account Planning. They are no longer efficient and just don’t cut it anymore. With the increasing need for Digital Key Account Management tools, organizations must consider adapting their operations to meet the evolving needs of the market.  Download: Change Management Guide for Sales Leaders to Implement Digital Account Management Software Benefits of Adopting Digital Key Account Management One of the significant benefits of Digital Key Account Management is the ability to maintain a strong relationship with stakeholders during the buying process. By being aware of stakeholders’ feelings about your organization, it is possible to mitigate any red flags like lack of engagement, which can prevent loss. Additionally, having a Digital Key Account Management tool allows organizations to maintain a comprehensive view of their accounts in one place, enabling them to better identify opportunities and make informed decisions. Getting a holistic view of the organization “Leading a team, I’ve always been more interested in people within an organization, than that particular product or problem, I’m much more interested in people,” says Andrew.  By focusing on people and their interactions within the organization, leaders can coach and support their team members effectively. At the same time, sellers can identify gaps in communication and ensure that all key stakeholders and buyers are accounted for. Understanding how an organization is structured and how teams are connected is critical. While some organizations are highly connected and referrals flow freely, others are more siloed. Understanding these differences can change how a seller approaches a business, including asking for referrals or using Account-Based Marketing to target the entire organization.  Identifying communication gaps Sellers can also benefit from shifting to Digital Key Account Management. When all subsidiaries are plotted alongside one another, it’s easier to identify gaps in communication. This ensures that everyone involved in a deal is accounted for, preventing surprises during contract negotiations.  Some things to consider before signing contracts include:  Are you aware of all your champions and their influence? Have you understood all the stakeholders involved? Are you benefitting these stakeholders with something that will actually help them? Increasing collaboration internally and externally “Probably the most important thing for me is broader teamwork.” – Andrew Collings Ensuring that Business Development Representatives, account managers and executives, and the ABM team work together to engage with positive leads can be achieved when everyone has access to all the information about an account. This process is made more streamlined with the help of a digital tool for account planning.  Additionally, when interacting with the Customer Success Team, having a digital account management

The Shift Podcast on Digital Key Account Management: James Manno, VP of Sales Enterprise at Qualtrics

At a time when the global economy is expanding at a slow pace and financial conditions are tightening, B2B selling has turned almost completely digital. How does one navigate such a time of economic uncertainty? In the sixth episode of The Shift Podcast on Digital Key Account Management, James Manno (VP of Sales, Enterprise West at Qualtrics) and Dr. Karthik Nagendra (Chief Marketing Officer at DemandFarm) discuss adapting your organization to a changing digital B2B environment. James shared his thoughts on managing key customers during a time of economic slowdown including: 1) The need for increasing focus on business impacts 2) The increasing complexity of sales cycle and stakeholders involved 3) The need for digital transformation in account planning, relationship planning & opportunity planning 4) The need to create consistency across sales teams