What is Account Mapping and Why do you Need It?
If you have never explored the concept of account mapping before then you’re certainly missing out. This guide will give you a crash course in mapping your accounts, while also teaching you the benefits it can offer.
What is Account Mapping?
Partner account mapping is where you map your accounts to any partner account. It gives you a good idea of your opportunities, insights, relationships and your overlaps too. This can help you to create new and powerful alliances, not to mention that it can also help you to completely transform your sales. Individual account mapping gives you the chance to see what is going on within the company. You may want to use this so that you can deal with any seasonal variations as well as gaining a better insight into your key players, strategic goals, and more. Individual account mapping essentially helps you to uncover pathways so you can navigate the complex organisational needs of your company. 63.5% of companies have stated that channel partners have helped them grow their annual revenue, and for this reason, it’s vital that you use account mapping so you can capitalise on every opportunity that comes their way.
What is Customer Relationship Mapping?
Customer relationship mapping is all about trying to keep track of all your customer responses. This is done in relation to your products or your services. If you can do this, then you will soon find that you are able to deal with any problems quickly and you can also do it very effectively too.
What does a Relationship Map Show?
A relationship map essentially shows a visual display, which pinpoints the relationships between individuals and items. This gives you the chance to see any logical links that may show through various elements in any given situation. With SaaS expected to grow by over 12% in the next year, it’s safe to say that account mapping should be your next priority.
Why Should you Bother with Mapping?
If you have every single one of your accounts on a single page, then this will help you to make strategic choices. It will also help you to uncover the most productive ways to spend your time, your money, and your energy. Account mapping can also help you to find the right people to speak with, fast. You can reduce the overall time it takes for you to close your deal and you may even find that you are able to conduct business with confidence. If you are not familiar with account mapping at all, then you should know that it was once done through things such as spreadsheets. This was time-consuming and cumbersome. Nowadays, you can use online tools so that you can input any data as you gather it. You don’t have to do everything in one go and you also don’t need to worry about it being too time-consuming. One benefit of mapping online is that you can do it anytime, anywhere as well.
Why Account Mapping is Used by Sales Professionals
Account mapping is used by sales professionals because it gives them the chance to view data points and the corresponding relationships. It is also used by professionals as it gives them a strong overview of their organisation, how it functions, and any key decisions that need to be made. It also takes informal hierarchies as well. This gives you the best path of sale. Even if you know that the leads that are getting handed to your team are only partially qualified, this gives you the chance to expand your network and it also helps you to ultimately get your foot in the door. Well-constructed account maps give you a very holistic view of your customers and your prospects. If you know who calls the shots and who controls the budget then you can easily foster your relationships with the people who actually matter. You can also refer to the maps during the sales cycle so you can get a much better sense of how your programs are functioning.
Account Mapping is a Win For Both Leaders and Reps
If your reps are focusing their efforts on account administration then you may find that when they get a “no”, they simply move onto the next account. This can lead you to hitting a lot of walls, and it will also mean that you end up leaving a lot of value on the table as well. With this example, you may find that digging deeper is the key. After all, you may find that you are only talking to one or even two people from each account, and this could be the reason why your growth is stunted. If you grow your efforts and talk to more, you may achieve bigger and better results. This is where account mapping comes in, as you can pinpoint your breakthroughs and your little moments of success, so you can apply that on a program-wide basis and ultimately make more profit.
The Huge Benefits of Online Account Mapping
There are some huge benefits to account mapping. First of all, you get complete security. When you map online, you can verify who has access to your documents and you can also create private groups. This means that you can share and manage your account maps with the people who you actually want to see them. When you map, you will be able to feel confident knowing that your data is safe and that you are in complete control. Your team can also create maps without having to worry about any security breaches.
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