Sales enablement as a concept is still evolving. Typically, sales enablement tools ‘enable’ sales teams with the right intel and content at the right time to make the right selling decisions to their most important prospects and customers.
Sales enablement tools are powered by technology and allow scaling up of the processes that help move white space opportunities forward.
However, when it comes to B2Bs that earn up to 80% of their revenues from a few (say 20%) Key Accounts, the whole ball game demands a different level of engagement and enablement.
Undoubtedly, it is easier to grow the business from existing customers than to win new ones. This is all the more true in the case of large B2Bs selling high value, high engagement solutions, which are hard – and expensive – to win. Such B2B Key Accounts are typically complex, global entities. They have multiple buying units spread across varied lines of business, verticals, geographies and even functions. With the right enablement tools, the potential to farm and mine these Accounts for optimal revenues is virtually unlimited.
Each key Account is owned by a Key Account Manager (KAM) who is responsible for managing the relationship and growing revenues from the Key Account. Without enabling technology, managing Key Account complexities and growing revenues would be unfeasible. Hence for good Strategic Account Management, you need a great Key Account Management tool. However, the nature of technology enablement required goes far beyond what sales enablement solutions offer.
B2Bs need KAM Enablement tools, a subset of sales enablement tools specially designed keeping the complexities of Account Management in mind. KAM Enablement tools like a Key Account Management Software typically combine the ability to ‘manage the repetitive tasks at an operational level, the data & analytical complexities at an organizational level, and the flexibility KAMs need to build the relationships at a strategic level’. DemandFarm seamlessly enables all three so that KAM can most effectively and efficiently handle both- the scale and complexity of Global Key Accounts. This helps the key accounts grow while making the life of a key account manager easier.
Learn more about how KAM Enablement will help you grow your business in 2017. Download the e-book here.