Account alignment should be your number one priority this year
In the tech industry, there is no shortage of manufacturers and reseller organizations, each with its own sales organizations and its own complex alignment strategy. One organization may align on employee count, the other on existing spend, the next on potential spending, and so on. There is never a universal alignment strategy, and that makes it difficult to co-sell.
Data alignment may seem like such a simple concept, but a lot of alliance managers and brand teams avoid it because it is such a difficult initiative to undertake. Account alignment is a BIG deal for your co-sell motions, and it's even more MASSIVE this year. Here is why:
1) Sales rep turnover is at an all time high
Change is inevitable, but this year it is different.
First, there was the "Great Resignation." The mass voluntary sales departures prompted by the pandemic. Sales reps are leaving high-stress sales jobs for better pay, less stress, and more flexibility. In a recent study, it was reported that 67% of software and tech companies experienced voluntary sales departures. Hubspot reported that the average sales turnover is 35% in the tech space.
This year, we have already witnessed unprecedented layoffs in the tech space. Meta, Google, AWS, Microsoft, Cisco, and Lenovo all had massive layoffs which impacted the sales organizations. Over 100,000 people were laid off from their position in a matter of three months.
Compound these changes annually, and there is a high probability that the rep that was on the account three years ago has changed.
2) Activate new business intelligence models
AI, machine learning, and new ways to capture insights on accounts have made their way into the mainstream and are here to stay. There is no shortage of big data and models to help make your sales reps more efficient. Each manufacturer has its own modeling, and naturally, they want to share that with their reseller partners.
How do you make it actionable for the individual sales rep at a reseller organization? To be successful in getting your insights viewed, let alone actioned by sellers, manufacturers must translate models to the sales structure of their partners. Once this linkage is created, the possibilities for action are endless.
3) Build brand loyalty and stand out
All things being equal, people like to do business with people they know. All things not being equal, people still like to do business with people they know. Relationship building is paramount to get your channel partners to present and prefer your brand. The number of brands a company will resell grows each year. Most resellers are supporting upwards of 1,000 different brands. At some point, these brands will all start to blend.
4) Enhance speed and ease of doing business
It's the last day of the quarter, and you have a massive opportunity, ready to buy. But first, you must get pricing approved. Can you help me find my rep? How many times have you heard that? Sales reps in the IT industry are the face of the customer, and while they provide tremendous value and can do most without vendor intervention, there are always situations that warrant discussion with a manufacturer rep (e.g., price approval, and technical questions). The problem is finding a person who can help quickly. If you have a master mapped account list, it is as easy as a quick account lookup.
Multiply Your Force
Shavings make a pile, yes! However, why talk about just one account when you can talk about ten? Having an aligned list helps your teams find mutual accounts that they may not have known they have in common. A simple sharing of mutual lists will spark a discussion that will allow your deals and opportunities to multiply.
Account mapping is an essential process in the IT industry as it helps organizations to understand their customers better and build more effective sales and marketing strategies.
HopperBlue takes the daunting task of sales alignment and makes it manageable and sustainable. Alignment is crucial and foundational for developing targeted marketing messages and sales pitches that resonate with the specific needs of each stakeholder. Effective account mapping drives IT companies to identify new opportunities within existing accounts and build stronger relationships with customers by providing personalized solutions that meet their unique requirements.