Large Account Managers and CRM

There are some funny people who think that CRM is for the "little people" or at least that good use of a CRM system is for inside sales.

At PipelineCheck we don't see it that way. Big deals take time. They take co-ordination. They take assessment by multiple stakeholders who play a part in winning those deals. These factors require good use of a customer relationship management system.

McKinsey's study Unlocking Growth in Large Accounts found “large buyers biggest pain point is disjointed relationships, marked by forgotten follow ups, multiple points of contact, conflicting messages and opaque processes”. 

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The researchers state that “one of the most important roles for the key large-account team is to manage the full customer experience, from the front-end sales process to ongoing service and support. When done well, this focus helps companies improve key-account revenue by 5 to 10 percent or more, while maintaining margins”.

The research supports the importance of good CRM usage to improve the sales experience by capturing effort on accounts, contacts and opportunities.

PipelineCheck identifying the opportunities that matter and highlighting CRM usage issues.

PipelineCheck identifying the opportunities that matter and highlighting CRM usage issues.

Mitra Mahdavian, talking in a McKinsey podcast about different research on fast growth companies, linked strong presales capability with higher win rates. The critical enabler for these companies was that "they're better able to deploy their resources against opportunities that matter".

These fast growing companies had the presales resources to craft solutions for customer problems and had win rates of 40 to 50 percent in new business and 80 to 90 in renewal which was well above other companies studied.

Large account managers need to be able to follow all customer interactions and justify the allocation of resources opportunities based on evidence. They need to be able to assign tasks to others through the CRM system. They can get better sales outcomes for themselves and their customers if they can hold others to account base on disciplined use of CRM by them and their colleagues in other roles.

Big deals are expensive to chase and the rest of the organisation needs to be able to follow progress on the deals, not just wait until the ink dries before deciding whether it was a good idea or not.

PipelineCheck uses all of the data in the CRM system to measure the input by different parties into opportunities at the account and contact level. It makes this work transparent. PipelineCheck, the fitness app for salespeople, helps keep opportunities on track over longer sales cycles. It does this by measuring the cadence to the work that is going into the opportunity and making that transparent to everyone involved.

It shows the effort over the lifetime of the opportunity as well as the recent effort in a single score and compares that to other successful opportunities by people in the same role.

There are lot of things that enterprise sales people can learn from good use of CRM by inside sales people.