Before starting to chase a prospective account, sales reps try to collect as much account information as possible. The collected data helps them have a clearer picture of the prospect’s organization, who the decision-makers are, who has the most influence on them, their motives, their most important problems, their goals, and any budget that’s available. This allows sales reps to craft their messaging, gather the right introductions, and create their demo and presentations so that the buyer understands their challenges and how the sales reps’ solutions solve their problems. With tighter budgets in 2020, and heading into 2021, the more information sales reps have, the higher probability they will have of success.
To collect and reveal the much-needed information about prospective and existing customer accounts, sales teams from your company and your strategic partners are getting in touch with each other and mapping their accounts.
What is Account Mapping?
Simply put, it is the process of combining all account data collected by sales teams and strategic partners in order to find the overlaps. When you use account mapping, you combine the data to detect overlapping accounts and reveal new information to be used for new sales opportunities.
Sales reps usually share spreadsheets and manually work on the combined data to list the overlapping accounts. Although it is an awfully time-consuming task, they do it because it has such a positive impact on their overall success. But there is a much better way. You can easily automate the account mapping process by using technology and saving lots of precious time to chase down prospects.
How Does Automated Account Mapping Help Sales Reps Succeed?
1. Access to the Best Up-to-Date Account Data.
Until recently, the whole sales process has been carried out intuitively – but with the integration of data analytics technology, that has changed. Data is the key driver behind successful sales teams today. It helps sales reps chase the best-fit customers and discover new opportunities they would not have identified otherwise. An automated tool helps them keep up with the accounts, even with numerous teams and individuals involved. They know which prospect to approach, how to approach them, and the potential revenue opportunity.
2. Save Time and Make Money.
Sales reps don’t want to spend time on an account that is not worth it, and they definitely don’t want to be lost between datasheets. In a recent article, channel analyst Jay McBain reported that “partners respond over and over in surveys that manual processes slow them down”. You don’t want your sales team to be bogged down by manual account mapping. Automated account mapping makes your teams incredibly efficient by reducing their workload, helping them find new opportunities, and closing deals much faster.
3. Alignment in Real-time.
Knowing who the sales reps and account teams are for your key prospect targets is 90% of the battle for partnering sales reps. So, they need access to real-time, accurate data to stay informed. This account data is usually gathered and preserved by an individual sales rep or a team of people. This is a waste of time for reps that could otherwise be meeting with prospects. Sales reps who spend the majority of their time in front of their best prospects and partners are going to have the best returns. An advanced account mapping software syncs with both parties’ CRM systems and automatically maps all the account data. This eliminates the time-consuming process of manual account mapping. Another added benefit is when territories are reassigned at the beginning of a new fiscal or calendar year, or salespeople are promoted or leave the company. An automated system keeps everyone working with the right reps and there is no time wasted realigning information manually.
You can optimize your sales team’s partner engagement by automating the account mapping process. Opening up access for your sales team to work more closely with partners helps them save time and resources on each prospect. At the same time, you will increase the size of your deals and reveal the untapped potential of your accounts.
If you want more information on what our account mapping software can do for you: Request a free demo now.
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