As an account manager, you want to showcase your value to your clients by sharing your success stories. But how do you measure the impact of your account management success stories on your clients' business outcomes? In this article, we will explore some methods and best practices to help you quantify and communicate your results.
Before you start collecting and sharing your success stories, you need to define what success means for your clients and how you will measure it. Depending on the type of account, industry, and goals, you may use different metrics to track your performance and impact. For example, you may use revenue growth, customer retention, satisfaction scores, referrals, upsells, cross-sells, or cost savings as indicators of your success. You should align your success metrics with your clients' expectations and objectives, and make sure they are SMART: specific, measurable, achievable, relevant, and time-bound.
Maintain accuracy of 1) Budget 2) Timescale 3) Volume - throughout all stages of the sales cycle. Management hate surprises. Accuracy is key - evidence it in CRM
Align closely with your clients goals and outcomes. In your discussion ask, “if we are able to achieve your goals, how will that affect your business in a positive way?” Each of the success metrics should be tied to these goals/outcomes and agreed upon by both sides with a defined timeline.
In my experience it’s really down to the voice of the customer and understanding exactly what success will look like for the client in a given timeframe eg the next 6 or 12 or even 18 months. Once the vision is set, it is more practical to lay down a success plan with the express goal of hitting their milestones. Are we solving their problems, are they still having sleepless nights due to the business pains? Are there any one-offs that can be offered? How aligned are we all to hitting these goals in the timeframe determined? How can I get my champion client promoted and make them shine in the eyes of their leaders? Once the success criteria is determined, account managers will know the path forward that’s a win win win for all involved.
Your potential customers don't want to buy a product; they have specific goals they want to achieve, and the product or service the channel that will help get them where they want to be. Being able to identify what the goals of your potential customer and knowing how your solution aligns with them is the key to success, and the path that leads to a successful sale.
To impress management and clients, nail accuracy across the sales cycle: budget, timeline, and volume. Track it all in your CRM for transparency and evidence. Avoid surprises with proactive communication and clear adjustments. Accuracy builds trust and showcases your value. Data is your friend, use it to tell your success story with confidence. Add client testimonials for that human touch and solidify your client satisfaction prowess.
Once you have defined your success metrics, you need to collect data and feedback to support your success stories. You can use various sources and methods to gather evidence of your impact, such as analytics tools, surveys, testimonials, case studies, reviews, or awards. You should also document your processes, challenges, solutions, and outcomes along the way, so you can tell a compelling story that highlights your contributions and value. You should aim to collect both quantitative and qualitative data and feedback, as they complement each other and provide a more holistic picture of your impact.
You must establish credibility early in the cycle. When a buyer is building a business case internally, that person is risking their reputation by bringing you in, so you can help your potential buyers by showing how your company is well established or has a great reputation in the market. Success Stories, Testimonials, dropping names of some of your clients, can help establish and build credibility with your buyers.
After you have collected data and feedback, you need to analyze and report your results to your clients and stakeholders. You should use data visualization techniques, such as charts, graphs, tables, or dashboards, to present your results in a clear and concise way. You should also use storytelling techniques, such as the STAR method (situation, task, action, result), to explain how you achieved your results and what benefits they brought to your clients. You should focus on the outcomes, not the activities, and show how you helped your clients solve their problems, meet their goals, or improve their situation.
Data is the modern day Rosetta Stone when it comes to communicating value. The most compelling data points you can share can often be the most contentious and that's a good thing. It can drive deeper discussions which can further reinforce your value to the customer. Don't be afraid to call out shortcomings. The data will back you up and the narrative you craft can turn that shortcoming into an upsell or expansion.
Finally, you need to share and celebrate your success stories with your clients and stakeholders. You should use different channels and formats to share your success stories, such as email, social media, blog, newsletter, podcast, video, or webinar. You should also tailor your success stories to your audience, depending on their level of interest, involvement, and influence. You should aim to share your success stories regularly, not just at the end of a project or contract, to build trust, loyalty, and advocacy. You should also celebrate your success stories with your clients and stakeholders, by expressing your gratitude, appreciation, and recognition.
The most rewarding part of when we collaborate is sharing the results. Yes, everyone loves sharing the great and mind blowing WIN based results... BUT where we learn and are stretched to grow is in the AREA OF OPPORTUNITY. That's where the grit and grind of the next phase is developed AND where we ultimately get back on track to WIN...
The customer feedback/field data review and analysis is the most important data the supplier needs to learn about the quality and the failure of the products. This may require dealing with some challenges from internal manufacturing stake holders.