Velocity Spring 2024

VOLUME 26

S T R AT E G I C

ACCOUN T

M A NAGEM EN T

Issue 2 2024

A S S O C I AT I O N

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Vol. 26 • Issue 2

2024

Features 14 SAMA Press Release

50 What Do Accounts Really Need?

20 Agile, Cross-Functional Leadership in Strategic

Account Management

A smarter, more impactful, and more-agilethan-ever partner!

56 The Pursuit of Strategic Account Excellence:

24 AI-Powered Sales Report: Analyzing and

Evolving your people, process, and program

creating customer value

61 Leading High-Performing Account Teams

32 N avigating the Future of Procurement:

Insights from the 2023 ISM® Strategic Sourcing Survey

42 Engaging the C-suite: A road map for success

69 Compelling Communication with the C-suite 75 T he Power of the Voice of Your Customer:

How a cohesive strategy will shape organizational success

V ELOCIT Y®

A PUBLICATION OF THE STRATEGIC ACCOUNT MANAGEMENT ASSOCIATION

Departments Quick Takes .………………..……… 9 Data Watch ………………………… 12

Publisher: Geoff Williams | Editor-in-chief: Harvey Dunham | Editor: Nic Halverson Creative Director: Aimee Waddell | Advertising: Ashley Davis The Strategic Account Management Association is a global knowledge-sharing and networking organization devoted to developing, promoting, and advancing strategic customer-supplier value, collaboration, and learning.

No part of this publication may be reproduced or transmitted in any form or by any means without written permission.

Copyright © 2024 by the Strategic Account Management Association (SAMA). The SAMA® logo is a registered trademark of the Strategic Account Management Association.

Velocity ® is published three times a year. The annual subscription rate is $65.

Changes of address, suggested articles, and requests for extra copies of this publication should be directed to: SAMA, 4740 N. Cumberland Ave., #389, Chicago, IL 60656.

Tel: 312-251-3131 Fax: 312-251-3132 Internet: www.strategicaccounts.org For membership information or to join SAMA, contact Chris Jensen at 312-251-3131 x10 or jensen@strategicaccounts.org.

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SAMA Corporate Members Advanced Industrial Devices

Hovione

Agilent

Hyatt

Ainsworth Inc.

IDEXX Laboratories

Air Liquide

John Deere

Airbus Defence and Space

Johnson & Johnson

Alnylam

Lilly USA, LLC

Amgen Canada

LP Building Solutions

Arcadis

Lubrizol Limited

Astellas

Medtronic

AVI-SPL

Merck

Axis Communications

Michelin

Bayer

Mölnlycke Health Care

Bellevue University

New York Power Authority

bioMérieux

Nilfisk

Black & Veatch

Novelis

Blue Cross Blue Shield of North Dakota

Novo Nordisk

Boehringer Ingelheim Brenntag Buckman Bunge

O-I Optum Otsuka Owens Corning Pfizer, Inc.

Carlisle Construction Materials

Premier Inc

CAS

Saint-Gobain

CEVA Sante Animale

Sanofi Vaccines

CH Robinson

Siemens

Cisco

Solecta Inc.

Clarios

Solenis

Cox Automotive

Sonoco

Danaher Companies

Southworth Products

Day & Zimmermann

supplyFORCE

DHL

Terumo Europe

Donaldson Company

The AAK Group

Ecolab Eisai

The Sherwin-Williams Company

Elanco Animal Health

TreviPay

Endress + Hauser

TÜV SÜD AG

Exact Sciences

UL Solutions

Expeditor's International

Valneva

Formerra

Veolia

Freeman

Viatris

GE Healthcare

VSP Global

Genmab

Wajax

GlaxoSmithKline

West Pharma

Greene, Tweed & Co.

Wheels

Hays

Xylem Inc.

Henkel

Zoetis

4 HiltonVWorldwide

Zurich Insurance

elocity®

SAMA Board of Directors Dr. Michael Ahearne Professor of Marketing and C.T. Bauer Chair, Bauer College of Business, EMEA University of Houston Steve Andersen President and Founder PMI Stephen Anderson SVP & General Manager, F&B Ecolab Dino Bertani Executive Director, International Strategic Account Management AbbVie

Tom Derry CEO Institute for Supply Management

Shawn Parker Executive Director, Strategic Account Management & Corporate Group Sales Hilton

Jim Ford Chief Executive Officer Solecta, Inc. Chairman of the SAMA Board

Geoff Quinn Director, Key Account Management Center of Excellence Pfizer Biopharmaceuticals Group

Eric Gantier President, Global Engineering, Manufacturing & Energy DHL Customer Solutions and Innovation (CSI)

Dr. Hajo Rapp SVP, Strategic Account Management & Sales Excellence TÜV SÜD AG

*John F. Gardner Retired - President, Global Strategic Accounts Emerson Automation Solutions

Jennifer Stanley Partner McKinsey & Company

Anju Birdy Vice President, Strategic Account Management Excellence Schneider Electric

*Rosemary Heneghan Retired - Director, International Sales & Operations, Worldwide IBM

*Dr. Kaj Storbacka Retired - Hanken Foundation Professor Hanken School of Economics

Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School

Denise Juliano Group Vice President, Life Sciences Premier Inc.

Sara Theis Program Manager, Regional Growth Americas Owens Corning

Dominique Côté Owner and Founder COSAWI Inc./Sprl

Renae Leary Chief Commercial Officer – Americas Ansell

Ron Davis Executive Vice President, Head of Customer Management Zurich Insurance Group

Mike Moorman Managing Principal, Sales Solutions ZS

Max Walker Director, Strategic Account Management EMEA Medtronic Geoff Williams Interim President and CEO SAMA

*Distinguished Board Advisors (lifetime contributors; non-voting members)

Special thanks to SAMA’s providers

Vol. 26

Issue 2 2024

PMI Congratulates Excellence Awards™ Winners, Past and Present!

The pursuit of SAM excellence is a journey that requires commitment and resolve, typically undertaken by organizations that have realized the importance of becoming more strategic to their most important customers.

Those that succeed gain competitive advantage by equipping their account teams with proven best practices that support effectiveness in each of the primary account planning and management impact zones.

Value: Today’s strategic and key customers expect their providers to understand their business pressures, objectives and challenges, and deliver solutions and value that address them. Top performing account managers and teams understand what matters most to their customers, and co-create mutual value that enables their accounts to realize the business outcomes that drive success.

Alignment: By engaging cross-functional team members in the deployment of SAM best practices, stronger internal alignment and enhanced customer value co-creation are realized. When account managers and teams understand customer pressures, objectives, and challenges, and align on how to address them, the result is heightened collaboration and value realization with the customer.

Relationships: Strategic customers expect to build trust-based relationships with their providers. Deploying and adopting SAM best practices equips and enables account managers and teams to evolve relationships with key and strategic customers into partnerships, with dramatic impact on how they engage, co-innovate and co-create value together.

Growth: Driving proactive growth is the essence of SAM excellence, and when account managers and teams develop and implement strategies to facilitate expansion of strategic customer partnerships, growth can be accelerated. By building growth strategies collaboratively with customer stakeholders, your approaches to value co-discovery, co-creation and realization provide you with powerful differentiators.

PMI’s customized strategic account planning and management solutions are designed to assist you in your SAM journey. Let’s discuss how we can help you and your team evolve value co-creation, customer stakeholder alignment, trust-based relationships and proactive account growth to new levels of effectiveness in your pursuit of SAM excellence!

PMI Congratulates all of the winners of the SAMA Excellence Awards™, with special recognition of our clients Boehringer Ingelheim and LP Building Solutions!

The SAMA Excellence Awards™ honor B2B companies who achieve unparalleled success at elevating relationships with key customers by solving their most critical business challenges.

Outstanding Young Program of the Year 2023

Outstanding Mature Program of the Year 2023

Please join us at the AC24 Pre-Conference Bonus Session: Developing Talent to Attain and Sustain SAM Excellence, featuring Boehringer Ingelheim and LP Building Solutions.

V ELOCIT Y® A PUBLICATION OF THE STRATEGIC ACCOUNT MANAGEMENT ASSOCIATION

SAMA 2024 EVENTS

Publisher: Geoff Williams Editor-in-Chief: Harvey Dunham Editor: Nic Halverson Creative Director: Aimee Waddell

SAMA Academy Chicago July 16-18

Advertising: Ashley Davis

SAMA Academy Online 2024 SAMA Staff Executive Interim President & CEO: Geoff Williams Finance/Operations/Meetings Director of Finance, Meetings and Operations: Fran Schwartz Senior Manager, Meetings and Events & Individual Member Liaison: Rhodonna Espinosa Finance & Operations Manager: Jaclyn Such

June-December SAMA Pan-European Conference 2024 9-10 October Vienna, Austria Imperial Riding School, Autograph Collection

Registration Manager: Shannon Feeney Customer Solutions Director, Customer Solutions: Christopher Jensen Corporate Account Manager: Michael Johnson

SAVE THE DATE 2025

Corporate Account Manager: Dina-Marie Farrell Corporate Account Manager: Mark Cohron Sr. Corporate Solutions Manager: Ed Zupanc Salesforce Analyst/Administrator: Erin Pallesen Sr. Account Manager, Business Leader - AMS: Stephanie Fahey Knowledge, Certification & Training Director, Knowledge, Certification & Training: Libby Souder

SAMA 2025 Annual Conference May 18-21 Orlando, Florida JW Marriott Orlando, Grande Lakes

Assistant Director, Knowledge & Training: David Schweizer Knowledge and Training Manager: Brad Maloney Research

For more information, visit https://strategicaccounts.org/en/events.

General Manager, Research & Customer Experience: Joel Schaafsma Strategy, Marketing, & Communications Managing Director, Strategy and Marketing: Harvey Dunham Creative Director: Aimee Waddell Editor: Nic Halverson Marketing Manager & Sponsorship: Ashley Davis

Join the conversation with SAMA on LinkedIn at www.linkedin.com/company/strategic-account-management-association.

Follow SAMA on X at www.twitter.com/samatweet.

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EDITOR’S CORNER and future sales organizations. Speaking of navigating ambiguity, be sure to check out Institute for Supply Management’s

Nic Halverson Editor Strategic Account Management Association (SAMA)

“Navigating the Future of Procurement” to discover insights on strategic sourcing.

But any navigator worth their salt needs a good map, especially if the C-suite is your destination. Vantage Partners have you covered with “Engaging the C-suite: A Road Map for Success,” guiding us to “focus on the business need, challenge, or opportunity, not the product. Starting with the

Origin stories provide us with a sense of identity, to better understand our history, values, and aspirations. In doing so, we create a more holistic and fertile foundation for fostering trust and alignment, identifying growth opportunities, and nurturing long-term relationships — the tenets of strategic account management.

need, and then making a connection to how your solution meets that need, is problem-solving — not selling.”

Just in case you forget, in “What Do Accounts Really Need?” Dennis Chapman Sr. reminds us that “being agile is becoming more a requirement than an expectation.” And if you’re looking for a blueprint for successes, don’t miss

In celebration of SAMA’s 60th anniversary this year,

“The Pursuit of Strategic Account Excellence: Evolving Your

our own origin story reveals fascinating and fundamental

People, Process, and Program,” Kimberlee Moon and Steve

truths. Which is why we begin this issue with the original

Andersen’s profile of Boehringer Ingelheim, 2023 SAMA

press release announcing SAMA’s launch. Then known as

Excellence Award winner for Outstanding Mature SAM

the National Account Marketing Association, we endeavored

Program of the Year.

“to provide a forum for interchange of ideas” for handling

We all recognize the hallmarks of high-performing account

national accounts where “more than just selling is required.”

teams: trust, communication, connection, shared goals, and

Take note of our founding principles, as relevant today as

purpose. However, as The Summit Group’s Joshua Dey warns

they were in 1964. Their wisdom ripples throughout all the

in his article, “the bias towards action prevalent in account

articles in this issue and reminds us that the genesis of stra-

management often leads us to overlook crucial steps in team

tegic account management is, by nature, customer-centric,

building and alignment … To accomplish this shift, the focus

universal, and not anchored to a fixed point. Strategic account

needs to transition from leading from above to leading from

management (SAM) is fluid and elastic, and designed for

the middle.”

those who can lead with agility.

Rounding out this issue, SNI’s Jeff Cochran gives us a

“Instead of rigidly adhering to predefined strategies, agile

step-by-step guide for “Compelling Communication with

leaders encourage flexibility, experimentation, and continu-

the C-suite,” and Timberwilde Consulting Group’s Gordon

ous learning within their teams,” Whetstone’s Adrian Davis

Galzerano underscores the importance of embedding the

expounds in is his piece. “By fostering a culture of agility,

voice of the customer into an organization in “The Power of

SAMs can encourage the SAM team to navigate ambigu-

the Voice of Your Customer.”

ity and uncertainty, seize emerging opportunities, and drive sustainable growth.”

Because strategic account management is ever evolving, SAMA’s origin story is still being written. It’s ongoing —

Continuous learning and emerging opportunities galore

which makes you, dear reader, a part of our living, breathing

are found in the ensuing excerpt of Mercuri International’s

narrative. From the bottom of our heart, thanks for being a

“AI-Powered Sales” report, which provides an overview of

part of it. Cheers to the next 60 years! n

how artificial intelligence is changing the game for current

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TM

IMAGINE if you could gain DEEPER INSIGHTS, especially during times of disruption and

CHANGE, by understanding both the

OBSERVABLE and NON-OBSERVABLE BEHAVIORS of your accounts.

TRANSFORM your

relationships through

DIRECT

customer feedback.

KANECT by The Chapman Group is a Voice of the Customer Survey and Service offering to foster transparent, collaborative, and mutually beneficial relationships.

www.ChapmanHQ.com

QUICK TAKES

AGILE LEADERSHIP: GOING WITH THE FLOW

Conventional leadership development programs typically offer extensive training on influencing and coaching individuals, providing feedback, fostering trust, and similar skills. In a recent Harvard Business Review article, “Leading in the Flow of Work,” Columbia Business School professor Hitendra Wadhwa outlines a new way.

“My research shows that another approach can complement and accelerate those traditional, competence-focused efforts. It involves tapping into neural pathways in the brain — into faculties everyone already possesses but might not be consistently using at work,” writes Wadhwa, also founder and CEO of the consulting firm Mentora Institute.

which he then detailed in his 2022 book “Inner Mastery, Outer Impact.”

“Across all the exemplary leadership moments we studied, people consistently used a small set of actions to tap into one or more of these five energies,” Wadhwa writes. Executives, he says, can tap into their inner core with just 10 to 15 minutes of prep. His firm has even validated their leadership-in-flow approach.

“At SAP, for instance, managers trained in it performed twice as well (at increasing their ratings on leadership trust) as a control group of managers did,” he writes. “And in a cross-organizational study spanning diverse industries, roles,

His “leadership-in-flow” concept emphasizes activat-

and levels, more than 100 executives who adopted leadership-

ing one’s inner core — the optimal self — by accessing five

in-flow saw their ability to achieve successful outcomes —

fundamental energies: purpose, wisdom, growth, love, and

measured by whether they attained their performance goals

self-realization. One can tap into these energies via 25 quick

— rise by an average of 135% within six weeks. Our findings

actions that can help appeal to personal purpose and values, frame situations effectively, foster connections, elicit joy, and ultimately unlock peak performance in people at all organizational levels.

“Rather than a trait to be acquired, leadership is a state to be activated,” Wadhwa writes.

“And by shifting the emphasis from learning on the sidelines to leading in the moment, executives can achieve real breakthroughs.”

reveal that people have an innate capacity for exemplary leadership far beyond what many realize.”

Since research shows that intentions influence emotions, thoughts, and perceptions, and those, in turn, influence behavior, Wadhwa suggests the following.

“I advise executives to begin by targeting a specific upcoming event, like a board presentation or a negotiation, and homing in on a single objective, whether it’s building urgency,

Wadhwa

gaining buy-in, resolving

and his Mentora team

conflict, or inspiring peak

began creating a reposi-

performance.

tory of more than 1,000

no concrete goal or jug-

moments

of

gling too many goals can

formative

leadership,

hinder a flow state,” he

captu ri ng

i nsta nces

writes. “Executives should

In

2006

“trans-

Having

when individuals notably

then replace any negative

exceeded expectations

emotions or beliefs about

in critical situations,”

that situation with a positive

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QUICK TAKES intention. If, for example, you are feeling unmotivated about a proposal-review meeting with your CFO because you believe she’s already decided against funding your request, you could set your intention to be ‘I will draw out my CFO’s perspective and points of resistance, build greater understanding between us, and prepare the conditions for a strong long-term partnership with her.’”

Wadhwa’s work overflows with insights and takeaways, but of the five energies, the “wisdom” actions are sure to make waves with the C-suite and SAMs alike.

Wisdom Energy: Calm and Receptive to the Truth Understand before you act. Approach an issue with heightened curiosity, and fully explore it before making your move.

Disarm. When you encounter disagreement, find something true in what the other party is saying and affirm it.

Fuse opposing viewpoints. Find a way to integrate contradictory positions into a more nuanced and balanced perspective. For instance, if team members disagree about the quality of their presentation, their manager might point out that while the presentation was analytically persuasive, it overlooked building an emotional connection.

Dial an emotion up or down. Intensify positive feelings or dampen negative ones to bring out the best in yourself and others. Sensing rising frustration in a team meeting, a manager can shift the conversation to past successes and team strengths before turning people’s attention back to the debate.

Direct emotional energy. Harness the energy your feelings are producing to advance your purpose. For instance, use the pain of defeat to motivate a team to practice with greater discipline.

Untwist your thinking. Eliminate distorted thoughts so that you can see the situation in a clear, objective light.

No, a presentation wasn’t a “total disaster.”

Create the right frame. Describe challenges, opportunities, and assignments in a way that brings out the best in people. n

Adapted from “Leading in the Flow of Work,” by Hitendra Wadhwa, Harvard Business Review, January - February, 2024. https://hbr.org/2024/01/leading-in-the-flow-of-work

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DATA WATCH

INVESTMENT PRIORITIES WITHIN KEY STAGES OF THE STRATEGIC SALES PROCESS

SAMA Research looked at where companies are focusing their coaching, training, and technology investments throughout key stages of the strategic sales process. The results provided some general benchmark opportunities and compared common performance metrics to uncover top performing strategies.

One key finding stated: Those that had regular coaching, with some level of accountability, were more than twice as likely to exceed their sales goals over those that had infrequent or no coaching with no accountability.

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DATA WATCH

Over the past year, what was the overall sales goal/plan performance within your function?

Greatly exceeded sales goal/plan

9%

Slightly exceeded sales goal/plan

28% 33%

Met sales goal/plan Did not meet goal/plan

28%

We don’t have sales goal/plan

3% 0

5

10

15

20

25

30

35

Which statement best describes your organization’s coaching within sales opportunities?

Rigorous and appropriately regular coaching, using a formal cadence/process, by managers who have full accountability

14%

Appropriately regular coaching by managers who have some formal accountability

30%

Somewhat regular coaching

30%

Infrequent or ad hoc coaching by managers who have little/no accountability

21%

No coaching within the last year

6%

0

5

10

15

20

25

30

Source: SAMA Research: Investment Priorities Within Key Stages of the Strategic Sales Process

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In celebration of SAMA’s 60th anniversary, we are publishing the original press release announcing the foundation of the National Account Marketing Association, which later changed its name to the Strategic Account Management Association in 1999. While the SAM community has seen many changes and become a more inclusive place since 1964, our founding principles are as relevant today as they were six decades ago. As testaments of our longevity, they serve as beacons of knowledge from our past that inform our present and define our future.

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For: NATIONAL ACCOUNT MARKETING ASSOCIATION Room 108 20 West 43rd St. New York, N.Y. 10036 For Immediate Release…

NATIONAL ACCOUNT MARKETING ASSOCIATION LAUNCHED NEW YORK, Nov. 10 — Formation of a new marketing association was announced here today. At a luncheon meeting of the Sales Executives Club of New York in the ballroom of the Hotel Biltmore, the National Account Marketing Association was given its official introduction by SEC President John T. Collins, also president, New York Automatic Canteen Corp.

Purpose of the new organization, according to Robert S. Rogers, NAMA president and sales manager-national accounts for Sylvania Electric Products, is to provide a forum for interchange of ideas, discussion of common problems involved in national account selling — which he termed “big selling” — both for the individual members and the nationally prominent companies which they represent. “Pricing and policy will not be within the purview of NAMA,” Mr. Rogers pointed out. “But all other marketing aspects are,” he continued.

What Are National Accounts?

Three NAMA officers participated as speakers at the SEC luncheon meeting. In leading off the program, Mr. Rogers defined a national account as one which operates from a central location to buy direct for or to influence the purchases of other units of the same company geographically dispersed.

“Over 300 top U.S. companies already have established national accounts departments,” he pointed out. “They function to arrange selling procedures, establish policies, distribute information, and to develop coordinated sales programs to take advantage of the big volume business available from other industrial and commercial giants.”

G.J. Huges, NAMA vice president and director of national accounts for Denver-Chicago Trucking Co., Inc., pointed out that the service industries’ customers have grown substantially through mergers and acquisitions, leading to many more customer organizations with multiple locations across the country. “Out of this trend,” he said, “has – more –

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come the need in our industry for the development of the national sales function.

This is our response to increasing customer demand for total transportation program development for national accounts.”

Speaking for the consumer industries, Sol Goldin, NAMA vice president and manager, retail marketing, Whirlpool Corporation, said that the definition of a national account is no longer “the account that the boss handles.” In recent years, he continued, “these big accounts have become so big and so important and so time consuming that there just aren’t enough bosses around to handle them. Hence, finding and developing specialists for national accounts has — for many large companies — achieved for them larger share of markets more effectively.”

The speakers agreed that maintenance of commercial friendships, long top management’s province, is now being delegated more and more to national account marketing specialists equipped to render appropriate services. “In today’s fast-moving, highly competitive business climate,” Mr. Rogers said, “these responsibilities must be delegated. Top executives are more and more involved — and rightly so — in the increasingly complex tasks of administration and long-range planning for their individual companies.”

Several years ago, it was pointed out, American industry recognized that the national account sales function deserved more attention. The American Management Association stimulated interest further with formal seminars and informal workshops at which the few men then available as experienced national account managers gave others the benefit of their thinking. Subsequently, as these courses became more popular and more and more companies endorsed a realistic national account program, it became increasingly common for these specialists to meet independently to discuss their common interests.

Out of this need for interchange of information and maintenance of inter-company friendships evolved NAMA. The word “marketing” was included in the title to identify members’ close association with sales and marketing.

More Than Just Selling In handling national accounts, more than just selling is required, according to the speakers. The national account manager must both recognize and satisfy the needs of huge volume buyers.

Manufacturers demand more ideas and solutions to their problems from their suppliers. “Purchasing executives require the corporate — or national accounts — approach,” according to Mr. Rogers. “Once properly sold and serviced on one product or commodity,” he continued, “they justifiably question us about other products available from our – more – 16

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company. And many times, price alone ceases to be the only factor considered.

“The typical purchasing executive today looks for the main link in his supplier who can act along as his liaison with all branches of his supply source. If he calls for the national account manager, he is calling for the right man.”

“In the transportation industry,” Mr. Hughes observed, “national account customers look to us for a wide variety of collateral services — technical help, information on new development in the transportation and physical distribution industry, packaging and materials handling advice, population trends, and recommendations for location of new distribution centers and plants.”

“To those of us in consumer goods, national accounts are primarily ’crossover’ accounts — retailers operating in two or more merchandising areas and crossing the responsibilities of several distributor or factory branches or sales representatives,” Mr. Goldin explained.

“Because national account requirements are communicative as well as distributive, a national account manager may never take an actual order, he continued. “I haven’t sold a dime’s worth of merchandise myself — directly — in more than five years. I don’t even carry an order book. My function is to make national accounts want to do business with Whirlpool and our distributors. Once the account makes this decision, every subsequent decision is a reconfirmation.

“The national account manager must be extremely careful that the selling function doesn’t get in the way of the servicing and communications functions,” admonished Mr. Goldin.

National Account Managers Gain Stature Because mergers, acquisitions, expansions are the order of the day among buyers — whether retailers or O.E.M. purchasers — the manufacturer or service supplier must do the adjusting. Many large companies have made the adjustment smoothly. And today the national account manager is accepted as a vital member of the marketing team. In the most successful cases, he’s a man of stature within his own company, and is capable of dealing with anyone at any level in a customer organization — all the way up to presidents and even chairmen.

This authority, Mr. Rogers explained, is necessary so that the national account manager can make sweeping decisions — fast — to meet the servicing demands of his major customers.

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The stature is necessary, according to Mr. Goldin, because national accounts realize their size, their volume, and their prestige. “They’re smart, which is one reason they go to be national accounts,” said Mr. Goldin. “They believe that top management of a supplier should realize their importance because they are important.

“Looking back on the recent start of the National Account Marketing Association, it is gratifying to note that our last organizational meeting brought out more

than 130 national account managers with this and sometimes even higher-sounding titles. Many NAMA members are officers of their companies. And the names of the companies represented reads like a Who’s Who of American industry.

“We still have a long way to go in making the national account function productive to its potential. And we appreciate the opportunity to tell our story for the first time outside NAMA today,” Mr. Goldin said in concluding the panel presentation. n

Happy 60th Anniversary, SAMA! The Summit Group is proud to have been involved with SAMA for over 30 years.

We currently offer CSAM + SAMA Academy courses, the Account Management Skills for Sales program, and are involved in SAMA-sponsored research.

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Skills Training for Real Humans The Vantage Sales Academy

Flexible. Global. Tailored to your needs.

• Data-driven Storytelling • Stakeholder Influence • Negotiation • Collaboration • Executive Presence • Selling to the C-Suite …. and much more.

www.vantagepartners.com/salesacademy SAM@vantagepartners.com

AGILE, CROSS-FUNCTIONAL LEADERSHIP IN STRATEGIC ACCOUNT MANAGEMENT

The realm of strategic account management

By Adrian Davis

(SAM) is continually evolving, presenting new

President and CEO Whetstone Inc.

challenges and opportunities for organizations.

As strategic accounts increase their demands on suppliers, the concept of agile, cross-functional leadership and its profound impact on the success of SAM teams should be a priority. As strategic account relationships become more complex and dynamic, the need for agile leadership that embraces diverse thinking skills, adaptability, and strategic direction is paramount.

SAMs should proactively recruit team members who excel in specific competencies.

Natural wiring should also be considered.

Many entrepreneurs use assessments such as the Kolbe A Index¹ or Gallup’s CliftonStrengths² to understand how to leverage the natural wiring of their people. SAMs should see themselves as intrapreneurs and should consider deploying a similar approach.

By assembling a well-rounded and diverse SAM team, SAMs will be able to enhance prob-

Team selection: beyond default assignments In traditional setups, SAM teams are often formed based on default assignments or hierarchical structures. However, this approach may

lem-solving capabilities, creativity, and innovation for their account. Moreover, the team will constantly identify future opportunities for mutual value creation and improved customer experience.

not always yield optimal results. To maximize team effectiveness, SAMs must look beyond defaults and carefully select team members based on the diverse expertise, perspectives, and skills that the strategic relationship requires. SAMs should insist they get the best talent assigned to their most strategic accounts.

The famous adage, “If you’re the smartest person in the room, you’re in the wrong room,” underscores the importance of fostering a team environment where each member brings unique strengths and insights to the table. SAMs should never feel insecure about the presence of super-smart people on their team. In fact, by being crystal clear on the competencies required for success,

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Agile leadership: adapting to changing dynamics The dynamic nature of strategic account relationships requires SAMs to lead their teams to embrace agility in their approach. Almost all industries are undergoing rapid and profound transformations, resulting in increasing challenges for SAMs in managing their accounts. I’m regularly impressed by how SAM teams innovate to address requirements that would traditionally be considered irrelevant to their business.

Sustainability is a great example. Just a few years ago, many industries weren’t the least bit concerned about their customer’s sustainability goals. As these goals have become increasingly strategic, SAMs have been forced to figure out how they can contribute to the achievement of these goals.

Other major trends, such as digitalization, artificial intelligence, demographic shifts, regulatory changes, and repeated supply chain disruptions, have led to increasing complexity in strategic account management.

member lead for specific parts of the strategic account process.

Additionally, while globalization has expanded market

For example, a team member with expertise in technical solu-

reach, it has also intensified competition, forcing SAMs to

tions may lead discussions on innovation and joint solution

develop global account strategies, understand diverse cul-

development, while another member adept at negotiation may

tural nuances, and collaborate effectively across geographies.

take the lead when discussions focus on finalizing the value

Also, changing customer preferences and demands require

proposition and value capture. One SAM in the manufactur-

SAMs to tailor solutions at a much greater level, provide

ing industry with a significant global account relied heavily

more personalized experiences, and continuously innovate

on his team to work with their counterparts on the client side

to address customer priorities and stay ahead of competitors.

to pull together a tremendous amount of information with

The changing dynamics of industries demand agility, adaptability, and strategic foresight from SAM teams to effectively manage their accounts and drive sustainable growth in an ever-evolving business environment.

Agile leadership in SAM involves quickly adapting to shifting opportunities, stakeholder interests, and market dynamics. Instead of rigidly adhering to predefined strategies, agile leaders encourage flexibility, experimentation, and continuous learning within their teams. By fostering a culture of agility, SAMs can encourage the SAM team to navigate ambiguity and uncertainty, seize emerging opportunities, and drive sustainable growth.

Leveraging individual strengths: the power of team dynamics

detailed and flexible analysis to prepare for a high-stakes negotiation. While the key team members were not present during the negotiation, the work that they did to prepare the SAM was invaluable.

By capitalizing on each team member’s strengths and expertise, SAM teams can enhance collaboration, decision-making, and overall performance. In a recent conversation with a strategic account manager in healthcare, she shared with me how critical it is for her to have top talent on her team to creatively address seemingly impossible requests. One of her accounts made a request that on the surface did not appear feasible. It would have been easy, after discussing with her team, to go back to the customer and decline the opportunity to work on such a critical request. However, through a constructive and iterative process with the client, where different team members

One of the core principles of agile cross-functional leader-

took the lead in different parts of the investigative and collab-

ship is leveraging individual strengths within the team. In the

orative process, not only were they able to accurately assess the

context of SAM, this translates to letting the best-suited team

real need behind the customer’s request, they were also able to

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21

create a unique, compelling, and innovative solution. This level

these challenges. They can realize the long-term impact of

of investigation and creativity would not be achieved with a less

agile leadership in strategic account management.

talented team that is unable to navigate ambiguity.

SAM’s leadership in strategic direction and delegation At the heart of effective strategic account management is a

One point on collaboration: collaboration doesn’t require lots of people. It’s not a case of the more the merrier. It’s a case of having representation from diverse thinking styles.

If diverse thinking styles are represented, less is more. In

robust account plan that provides clear direction to the team.

addition to overall team selection, SAMs also need to carefully

SAMs play a pivotal role in developing and communicating

select participants in collaborative meetings.

this strategic direction, aligning team efforts with organizational goals, and ensuring a cohesive approach towards strategic accounts. I’ve repeatedly heard frustration from senior executives when SAMs are unable to communicate their plans succinctly. Simplifying complexity requires deep knowledge and familiarity with content. The ability to simplify is the hallmark of great leaders. Without clarification and simplification, successful delegation is impossible.

Furthermore, effective delegation is essential in SAM teams to distribute workload, empower team members, and drive efficiency. A clear, simple, and sound account plan enables safe and effective delegation, ensuring that tasks are assigned based on individual strengths and competencies.

SAM’s role in overall relationship management

The illusion of mastery: embracing continuous learning One of the traps that SAMs must avoid is the illusion of mastery. No matter how experienced or knowledgeable a SAM may be, the landscape of strategic account management is constantly evolving. It’s crucial for SAMs to embrace continuous learning and stay updated on industry trends, market dynamics, and emerging technologies. SAMs who are constantly growing inspire their teams to do the same. By fostering a culture of continuous learning within the SAM team, SAMs can inspire innovation, adaptability, and resilience.

In conclusion, mastering agile, cross-functional leadership is essential for SAM teams to thrive in today’s dynamic business environment. By carefully selecting diverse teams, embracing

Beyond strategic direction and delegation, SAMs must retain

agility, leveraging individual strengths, developing strate-

leadership over understanding client strategy, drivers, and

gic direction, fostering strong relationships, and embracing

industry dynamics. This deep understanding enables SAM

continuous learning, SAMs can unlock new opportunities,

leaders to align their strategies with client needs, anticipate

drive innovation, and achieve sustainable success. Embracing

challenges, and drive value-added solutions. Effective communication and collaboration with clients and internal stakeholders are also critical aspects of SAM leadership. Relationship management, both external and internal, is one of the key

agile leadership is not just a strategy — it’s a mindset that empowers SAM teams to navigate challenges, capitalize on opportunities, and achieve exceptional results. n

responsibilities of the SAM. It requires a high level of emo-

¹ https://secure.kolbe.com/k2/show_takeIndex/indexType_A

tional intelligence and constant vigilance. By fostering strong

² https://www.gallup.com/cliftonstrengths/en/252137/home.aspx

external and internal relationships, SAMs can build trust, loyalty, and long-term partnerships that drive mutual success.

Adrian Davis is an international speaker, business strategist, and

Overcoming challenges and realizing long-term impact While agile, cross-functional leadership brings numerous benefits, it also comes with its challenges. Resistance to change, lack of alignment, and internal silos can hinder the effectiveness of SAM teams. However, by leveraging executive sponsorship, implementing strategies for creating a positive team environment, fostering a culture of collaboration, and providing ongoing training and support, SAMs can overcome

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trusted advisor for chief executives and sales leaders. He speaks about strategic account management and strategic selling. Adrian is the author of “Human-to-Human Selling: How to Sell Real and Lasting Value in an Increasingly Digital and Fast-Paced World” and “Heroes, Villains, and the Thrill of Professional Selling: How to Direct a Winning Buying Experience.” As President of management consulting firm Whetstone Inc. and Principal Partner of The Summit Group, he has worked with organizations such as SAP, John Deere, Owens Illinois, AVI-SPL, Siemens, TruStage, Merck, Premier, Johnson & Johnson, and 3M. He is also a leading faculty member at SAMA Academy.

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AI-POWERED SALES REPORT: ANALYZING AND CREATING CUSTOMER VALUE

By Henrik Larsson-Broman Researcher, Keynote Speaker, Trendspotter, B2B Sales Excellence Expert Mercuri International Research

The following article is an excerpt from Mercuri International’s “AI-Powered Sales” report, which provides an overview of how artificial intelligence is changing the game for current and future sales organizations. The full report explores the opportunities that AI creates for the different parts of the sales process: from analyzing the target audience to winning the deal and taking care of existing customers.

Introduction: From product focus to customer value orientation

and Peter Siljerud

It is said that Henry Ford once coined the phrase, “Customers can have a car painted any

CEO and Futurist Futurewise

color they want, as long as it is black.” Whether he expressed himself that way is unclear, as the first model was not even produced in black.

But the quote, which became a symbol of the momentum of the industrial revolution in the early 20th century, also took on another meaning that many business leaders followed for most of the 20th century. Value was created through efficient manufacturing and production rather than effective customer value orientation. This product-oriented approach has changed drastically over time. With increasing competition, the focus is now on the customer. In everything. Especially when it comes to sales.

A simple description of this development is to say that we have moved from communicating customer value to creating customer value. What does this mean? Well, if a seller has historically been good at communicating the benefits of their products, services, or solutions by showing the savings, profits, or other benefits, that is no longer enough. In an AI-driven world with new customer expectations, the salesperson must also be part of value creation through the insights, knowledge, or creative ideas they bring to the customer.

The salesperson thus becomes a consultant, advisor, and business developer who not only communicates, but also creates value for the customer.

A number of studies carried out by Mercuri International show that this trend is true.

In “The Future State of Sales” survey — in which Mercuri International interviewed over 1,000 commercial managers — 85% of respondents ranked “customer value orientation” as the most important trend of all.¹ It also revealed some other interesting conclusions. What exactly do buyers perceive as “customer value” when interacting with a seller? In other words, what does a salesperson do

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FIGURE 1

75% Being proactive and listening to the customer.

66%

66%

65%

64%

Educating, inspiring, and challenging the customer to change.

Offering high-quality products and services adapted to customer needs.

Having deep understanding of the client’s industry, business, challenges, and employees.

Delivering insights based on research and trends.

that is perceived as creating customer value? The results showed several factors in descending order (see Figure 1).

These conclusions are also confirmed by other studies.

According to a LinkedIn survey, over three quarters (82%) of top salespeople say they “always research potential customers before making contact or setting up a meeting.”² This

Imagine a salesperson offering selection and recruitment services for salespeople and sales managers. Wouldn’t it be valuable if this salesperson could provide advice and insights based on trends and research on what skills are in demand or what requirements will be placed on the salespeople of the future?

compares to only 49% for other sellers. Successful salespeople

For example, what is the impact of the AI developments

are thus more informed and knowledgeable than their peers.

highlighted in this report on the recruitment of salespeople? A

Despite this fact, few buyers feel that sellers live up to these expectations. For example, only 37% of all buyers feel that the salespeople they meet understand and can deliver

salesperson who can provide advice, tips, and insights on this is likely to create an enhanced perceived customer value by becoming the unique value, beyond the specific offer.

insights about their industry. Furthermore, only 33% feel

How can a salesperson monitor and analyze trends or gather

that salespeople are well informed, while only 27% find that

research-based insights that can be used in dialogue with

salespeople can draw conclusions from the data they have

potential customers? To begin with, we note that this is primar-

about their business.³

ily an organizational issue. This means that the company must

In other words, there is more to be desired here. And this is where we get into AI. AI has the potential to dramatically

set a strategy and allocate resources to make this feasible and continuously provide and train its salespeople in relevant skills.

change these numbers by allowing salespeople to collect and

There are certainly easier things a seller can do on their

analyze data about their customers so they can be more proac-

own. For example, ChatGPT can act as a sounding board

tive, educative, knowledgeable, and value-adding.

for the vendor, suggesting trends and research relevant to a

In this report, we therefore take a closer look at how AI can be used by salespeople to prepare for meetings with customers and thus be perceived as adding more value.

particular area.

However, it should be remembered that ChatGPT’s data is not 100% current, which may limit its knowledge.

However, for those who want to monitor and capture rel-

AI: Customer value based on trends and research Salespeople who are perceived as creating value are thus good at delivering insights to their customers. They educate,

evant trends in real time, there are more advanced platforms.

These AI-powered trend analysis platforms use machine learning to identify and analyze historical data along with

they inspire, and they challenge their customers based on the

current events to predict and identify different types of trends.

knowledge they possess. As mentioned above, they also add

A well-known and popular tool for this is Google Trends,

value by guiding the customer into the future by providing

which analyzes billions of searches every day to discover new

advice, inspiration, and knowledge of what’s around the corner.

trends and assess how they might evolve over time.

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Examples of AI-based tools to create customer value based on trends and research

produce more industry-specific trends that can be used to make more informed business decisions. Search results can thus be filtered by sectors such as aerospace, automotive, banking and finance, chemicals, energy, food, health and pharmaceuticals, IT, retail, and more.

An additional option is Exploding Topics, which uses AI to analyze millions of searches, conversations, and mentions

GOOGLE TRENDS

across the internet to identify trends at an early stage. This

Analyzes the popularity of search terms over time and geography, which can be useful for identifying market trends.

tool is aimed more at entrepreneurs and developers who

trends.google.com/trends/

value to the customer, there are solutions for that too. For

want to get new ideas before anyone else.

For those who want to gain research-based insights to add example, Consensus uses AI to find answers in academic research reports ranging from biology to social sciences.

You simply ask a question and then get conclusions from any

ITONICS TREND SCOUTING Platform designed to identify and monitor industry-specific trends and innovations. www.itonics-innovation.com/

relevant research.

AI: Customer value based on insight into the customer’s business Understanding the customer’s industry, business, and long-term ambitions is also a critical factor for any salesperson who wants to be perceived as creating value. No

EXPLODING TOPICS AI-based platform that detects innovation trends at an early stage. www.explodingtopics.com/

customer or decision-maker has the desire or commitment to spend time in unnecessary meetings that don’t give them anything. Thus, sellers need to find out as much as possible about the customer that is relevant.

This may involve understanding the customer’s current situation, challenges and needs, financial health, or goals and growth plans to help them improve their business.

In the best of worlds, the salesperson already has some

CONSENSUS

knowledge of the customer at this point. It can be knowl-

Uses AI to find answers in research articles.

edge based on data from the CRM system, findings from

www.consensus.app/search/

the market or customer analysis performed beforehand, data from the ideal customer description or the customer’s website, or insights from colleagues with previous business relationships. Maybe the data has been obtained from a chatbot that had the initial conversation via the website and has already asked the potential customer a number of questions about their needs, challenges, and wishes; analyzed the answers; and made recommendations that you can now

For those who want to broaden their horizon and collect

build on in the customer meeting.

data from more sources, such as news articles, social media,

Again, ChatGPT can act as a sounding board and advisor

patents, and research reports, ITONICS Trend Scouting may

to answer questions you have about a particular company, its

be a better option. This platform combines automated data

market, or its products. However, other solutions based on

collection with AI-driven analysis and expert judgment to

the same technology may be more advantageous. For example,

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with Baron you can use ChatGPT in all your applications

This information can also be complemented by more

whether you use Slack, Chrome, Gmail, Word, Excel, or other

detailed analysis. Why not get insights from the customer’s

apps. It also provides a special application for sales profession-

latest annual report? If it is available as a pdf, you can upload

als that helps you find all kinds of information such as a client

it to AskYourPDF and ask all kinds of questions about the con-

company’s business, its competitors, or the contact details of

tent. For other file formats such as doc, e-pub, txt, or website,

its decision-makers.

you can use ChatDOC. With this, you can ask anything and

There are also several more niche AI tools that generate data

get easy-to-understand answers within seconds.

about customers’ businesses. These so-called “sales intelli-

While the solutions mentioned above can be very useful

gence platforms” draw data from a variety of sources to enrich

in the important work of learning about the customer to add

the CRM system with information about decision-makers and companies.

Examples of such solutions are Affinity and Demandbase.

Both can be integrated with systems such as Salesforce and Dynamics 365, where they complete each contact and company record with information on key decision-makers, their position and background, the company’s turnover, profitability, growth, the markets they operate in, how they are financed, and their financial situation.

This data can also be complemented by the personality profiles of the decision-makers. Crystal collects data from thousands of online sources to find information about a particular person, what is written about them, what they write, and the digital footprints they have left on social media. Based on this information, Crystal makes a personality assessment.

For a salesperson, this means an increased opportunity to adapt their selling style based on whether the customer is, for example, dominant, analytical, skeptical, or outgoing. The tool, which is also integrated with LinkedIn, also suggests how the salesperson should prepare, argue, negotiate, behave, and much more to build trust with their counterpart.

Another solution for gaining deeper insights into customers is to use web scraping. It involves using an AI-based computer program to navigate and collect information from different web pages, analyzing their content and extracting specific data according to predetermined criteria.

value, there are even greater opportunities with AI. This is because AI opens the door to much more proactive sales. In short, it is about being able to predict the future needs of your customers and offer solutions before they even realize they need it.

Take an example Let’s say you work as a salesperson in a company that sells all kinds of agricultural products to farmers.⁴ You realize that if you could access information on weather conditions, crop yields, plant physiology, and soil conditions, you could help your customers make better decisions and optimize their operations using your products. So, you want this information to help you do a better job and create value for your customer.

Now it’s time to think about where you can find this information and how you can use AI to analyze it. You don’t need to think about the technology behind AI, but you do need to know what tools are available and which companies or organizations could provide this information.

In this case, you discover that there is a company that collects data on weather conditions and climate change specifically designed for farmers. This is done using meteorological satellites, radar, and weather stations. You also discover that the Swedish Board of Agriculture uses drones that fly over the fields to collect data on soil topography, moisture, plant cover, and pests. Finally, you find out that John Deere provides tractors equipped with sensors that collect real-time data on all its

Such tools can play an important role in gaining insights

machines. These are routes, positioning, fuel consumption,

into what is happening with potential and existing customers.

and machine status but also data on weather, soil, and plants.

One such tool is Octoparse, which automatically helps companies collect and analyze data in a variety of areas. For a sales organization, this may involve monitoring, collecting, and analyzing customers’ press releases, company news, news articles, newsletters, blogs, and websites, but also what is written about the customer in the media, in order to draw important conclusions.

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These three actors thus collect millions of different data points from various sources that can be of great value to a farmer.

What if you could now access this data and use AI to analyze and identify patterns and trends that can help your customer make better decisions? Such an analysis would be at a level that a human being is nowhere near capable of.

Now imagine that you are going to contact a potential

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Examples of AI-based tools to gain insights into the customer’s industry and operations

customer who could benefit from this information. The classic way would be to call and say: “Hi Bill, my name is X and I’m from this company. Let’s make an appointment so you can tell me about your farm!”

Equipped with AI, the seller can now instead call up

AFFINITY

and say: “Hi Bill, let me tell you about your farm. Last season, your

AI-based sales intelligence platform to obtain data on the customer’s business and decision-makers.

soybean harvest was reduced by 20%. I know, the rain ruined a lot.

www.affinity.co/

But it is not only that. According to our data, soil conditions have changed, resulting in several new pests becoming established.

That’s why you were late in planting this year. We now also see that the harvest you planned for October will be delayed until at

DEMAND BASE

least November. This means that your return will be around 93%,

AI-based sales intelligence platform to obtain data on the customer’s business and decision-makers.

reach your desired yield, you will need to add a special plant pro-

www.demandbase.com/

not 97% as you expected. However, I have a solution to this. To tection product adapted to your crops. Given your soil conditions, you will also need to add a different fertilizer than the one you have now. This work should start now in August.

“By the way, two of your three combines will need to be replaced

CRYSTAL

within three years. With the increase in output prices, you can

AI-based platform to analyze and generate personalized insights into people’s communication style and behavior.

loans now. You will make a saving of around €50,000 on this.

www.crystalknows.com/

reduce your interest costs by 1 percentage point if you tie up your “I will be happy to tell you more about this when we meet. What does Thursday look like this week?”

So, sales organizations with specialist AI skills can gain a huge advantage over their competitors. In all likelihood,

OCTOPARSE AI-based solution to collect and analyze information from different websites. www.octoparse.com/

we can therefore expect that the sales organizations of the future will not only interact with marketing, they will also need to collaborate with IT and data departments. With AI, the IT department can analyze lots of data. It can do more analysis in a second than a single human would do in a year. That is its strength. Now imagine that we now add the power of the human element: salespeople who advise,

ASKYOURPDF Upload PDF files and ask questions about the content. www.askyourpdf.com/

build trust, and demonstrate judgment, creativity, collaboration, and responsiveness. The power of this combination of creating value for both the customer and the company is fascinating.

AI: Customer value based on competitive analysis CHATDOC ChatGPT-based solution that extracts and summarizes information from different types of documents. www.chatdoc.com/

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With increased transparency and new technological tools, it has become easier for buyers to gather information and compare different suppliers. It also means that salespeople and sales organizations need to understand what competitors are doing in order to offer customers added

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“If I had one hour to solve a problem and my life depended on it, I would spend the first 55 minutes defining the problem and the last five minutes solving it.”

- Albert Einstein

value. By carefully studying and analyzing the competition, sellers can increase their ability to create value for their customers in several ways.

One of the most crucial aspects of competitive analysis is the ability to create tailor-made solutions for customers. By understanding what other players in the market offer, the seller can adapt their products or services to better meet the customer’s needs. This results in unique solutions that competitors cannot

Crayon is another AI-powered platform that allows you to

match, thereby differentiating the vendor and creating value by

track and analyze your competitors’ digital footprint, including

increasing customer efficiency and profitability.

pricing, product updates, marketing campaigns, and market

Another important benefit of competitive analysis is that it provides a basis for pricing products or services correctly.

By understanding how competitors price their offerings, the seller can develop a competitive pricing strategy. It may also be possible to create added value that exceeds the price difference, thus convincing the customer to choose the seller’s offer.

Furthermore, competitive analysis can help the seller to identify weaknesses or gaps in competitors’ offerings. By offer-

reputation. The information can help sellers identify competitive advantages, find ways to differentiate themselves, adjust prices, and adapt their sales strategy. It can also be used to produce “battlecards” that are automatically updated in real time.

Similarly, Kompyte uses AI to track and analyze competitors’ digital marketing strategies. The platform provides realtime updates and reports on changes in competitors’ activities on the web, social media, and ad campaigns.

ing solutions that directly address these deficiencies, the vendor

You can also use AI to gain insights into competitors’ web

can create greater perceived customer value while highlighting

traffic, visitor behavior, customer engagement, and keyword

their own strengths.

strategies. Two valuable tools for this purpose are Similarweb

Competitive analysis can also serve as a source of knowledge and expertise for customers. By informing the customer about

and Semrush. Type in your competitors’ web domain, and in seconds you’ll have plenty of statistics to compare yourself with.

market trends, best practices, and the latest innovations, the vendor can increase customer trust and position itself as a reliable partner.

Collect data to help you solve your customer’s problems

Today, there are many AI-based tools that can help you ana-

Sales is about solving customers’ problems and helping them

lyze competitor data. One example is BROWSE AI. Using this

to be more successful. But to do that, we also need to define

tool, you can easily extract information from your competitors’

what the problem is. As Einstein suggested, this is what takes

websites to keep you updated on their products, marketing

time. The solution is simple if we have done a thorough analy-

campaigns, and web presence.

sis and identification of the problem. In this section, we have

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Examples of AI-based tools for competitive analysis

therefore given some examples of how to obtain data on customers in order to identify their problems, challenges, and needs, which in turn allows the seller to be proactive and provide good advice and solutions to these problems.

So, the key to identifying problems is access to data.

As in the case of the farmer, the seller was able to iden-

BROWSE AI

tify different ways to collect data and analyze it with AI,

Extracts information from your competitors’ websites to keep you updated on their products, marketing campaigns, and web presence.

making the solution very simple but adding great value

www.browse.ai/

for the customer.

The salespeople and sales organizations of the future must therefore become more data-driven and always ask the question: “What data do I need about my customers and their businesses that we can analyze to add customer value and solve their problems?”

KOMPYTE Helps companies monitor competitors’ strategies and strengths and weaknesses in marketing, pricing, and product development. www.kompyte.com/

The first step is not to think about where this data will come from or how AI works. It is first and foremost about becoming aware of what kind of information is important to do a good job with the customer. Then you can actively start thinking about whether there is an actor providing this data and how to analyze it. Maybe there are already people or companies that have access to this data?

Alternatively, you can get it on your own with the help

CRAYON

of your IT department, for example. As long as we have

Collects and analyzes data from competitors’ websites, social media, reviews, and more.

access to data, AI will always be able to draw conclusions and see patterns in it. n

www.crayon.co/ ¹ T he report can be downloaded at mercuri.net/the-futurestate-of-sales/. ²b usiness.linkedin.com/sales-solutions/b2b-sales-strategy-

SIMILARWEB Web analytics platform that provides insights on web traffic, visitor behavior, customer engagement, and conversions for both your own and competitors’ websites. www.similarweb.com/

guides/linkedin-state-of-sales-report-2022. ³ t rainingindustry.com/research/sales/sales-from-the-buyersperspective/. ⁴ T he example is inspired by an interview with Jim Dickie and Barry Trailer in “The SAMA Podcast”: https://podcast. strategicaccounts.org/yes-artificial-intelligence-ai-can-helpsams-co-create-value-with-their-customers-with-jim-dickieand-barry-trailer/.

SEMRUSH Helps you monitor and analyze competitors’ keyword strategies, websites, and ad campaigns. www.semrush.com/

Henrik Larsson-Broman is researcher, keynote speaker, author, trendspotter, B2B sales excellence expert, and founder of TrendBracer. Connect with him on LinkedIn at www.linkedin. com/in/henriklarssonbroman/. Peter Siljerud is CEO and futurist at Futurewise and can be contacted via LinkedIn at www.linkedin.com/in/siljerud.

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Pick Your Winning Strategy

MERCURI.NET

We work with you to develop the crucial skills, knowledge, and processes for successful long-term client relationships.

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NAVIGATING THE FUTURE OF PROCUREMENT Insights from the 2023 ISM® Strategic Sourcing Survey

By Institute for Supply Management

Strategic sourcing has evolved over the years, with diverse

multifaceted understanding that varies across industries and

interpretations and approaches emerging across different orga-

organizations. It involves short-term and long-term consider-

nizations. While some view strategic sourcing as a standard

ations, collaboration between procurement and business units,

process, others emphasize a more comprehensive and aligned

and an alignment with the overall company strategy. Over

approach to the company’s overall goals and long-term plans.

time, strategic sourcing has expanded beyond immediate cost

Lara Nichols, CPSM, head of global procurement at Flatiron Health, says strategic sourcing involves procurement driving the process while collaborating with the business, especially in the context of hypergrowth and the need for new services.

Jim Fleming, CPSM, CPSD, who serves as manager of product development and innovation at ISM, highlights the distinction between traditional sourcing and strategic sourcing, emphasizing the duration of focus. Strategic sourcing looks at the long term, spanning three to five years or even further, considering product life cycle and supplier capabilities for future needs. This forward-thinking approach sets strategic sourcing apart from more immediate, transactional sourcing.

Kevin Alexander, vice president of supply chain at Marmon Rail and Leasing, emphasizes the collaborative nature of strategic sourcing, where procurement aims to compound pur-

savings to encompass a more comprehensive approach that supports the company’s broader objectives and future needs.

To achieve authentic strategic sourcing, organizations must carefully evaluate their goals and capabilities and adopt a forward-thinking mindset to meet future challenges effectively.

Institute for Supply Management® (ISM®) conducted a comprehensive sourcing survey to uncover insight into adopting and practicing strategic sourcing methods and how they can help the procurement function navigate its current challenges and evolve further. Between March 14 and April 13, 2023, 611 participants provided valuable insights for the survey. This data set represents diverse perspectives and experiences, offering a comprehensive outlook on sourcing trends within the industry.

chasing power and leverage it to achieve the best total landed

Industry demographics

cost value. To succeed in strategic sourcing, procurement

• Manufacturing: 50 percent

professionals must align their strategies with the business

• Services: 50 percent

goals and speak the language of the organization, including

• Revenue exceeding US$500

factors such as profit, cost reduction, inventory management, and working capital.

The concept of strategic sourcing, as evidenced by these insights from subject matter experts (SMEs), reflects a

million: 53 percent • Revenue under $500 million: 47 percent • Manager and above: 72 percent

©Copyright Institute for Supply Management®. All rights reserved. Reprinted with permission from the publisher, the Institute for Supply Management®.

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FIGURE 1: Which of the following structures best defines supply management’s functional alignment?

Spend management and functional alignment The survey asked supply management professionals about the percentage of spending their organizations manage, reveal-

20%

ing an encouraging trend, with 58 percent of respondents

Decentralized

reporting that their organizations manage 60 percent or more of their total spend. This data indicates that many companies

24%

embrace strategic sourcing practices to optimize their pro-

Center-Led

curement processes and achieve cost efficiencies. However, it

56% Centralized

is worth noting that there is still room for improvement, as 31 percent of respondents indicated that their organizations only manage between 21 percent and 60 percent of spend. This presents a valuable opportunity for these organizations to enhance their spending management strategies and consolidate their purchasing activities to drive even more significant cost savings and operational efficiencies.

FIGURE 2: What percentage of spend under management does your supply management organization manage?

11%

Fleming emphasizes the importance of gradually expanding the concept of managed spend within organizations. He

0% - 20%

28%

11%

says, “You have to open the door a little bit and then slowly get them to open it wider and come forward. That’s a big thing.”

21% - 40%

81% - 100%

This approach aligns with the notion of strategic sourcing being an intentional and skillful approach to the marketplace,

20%

distinct from the buying function. As Nichols says, “Strategic

41% - 60%

sourcing is a very intentional approach to the marketplace.

30%

This approach requires a skill set different from the buying

61% - 80%

function. I think of buyers as those who are ensuring that we spend right. And I think of strategic sources as those who ensure we spend well.”

Fleming further highlights how managed spend and strategic sourcing can lead to significant benefits, including increased efficiencies, supply chain visibility, and enhanced credibility within an organization. He explains how supply management

FIGURE 3: What percentage of your work is tied to … procurement? (by sector)

7% 10%

professionals can demonstrate the value they bring by providing data-backed solutions and showing tangible results, ultimately leading to being invited to strategic meetings rather

25%

than being seen as impediments to operational efficiency.

7%

7%

13%

12% 30%

36%

Organizational detail Manufacturing organizations dedicated 58 percent of their efforts to direct procurement, highlighting the critical focus

58%

on sourcing raw materials and components for production.

51%

44%

In contrast, services firms allocated 44 percent of their work to direct procurement, reflecting their reliance on intangible assets and expertise. Understanding these trends can aid

Manufacturing

Services

Total

supply management professionals in tailoring strategies to address industry-specific procurement challenges effectively.

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Direct

Indirect

Capital

Other

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33

An organization’s overall head count can impact the size

or Certified Professional in Supplier Diversity® (CPSD®)

and strategic capacity of its procurement organization. While

to enhance their skills and remain competitive in the job

23 percent of respondents reported that their organization

market.

employs 10,000 or more individuals, “small businesses” (organizations that employ fewer than 500 individuals) are collectively the largest category with 31 percent of respondents.

Alexander says, “While comparing traditional buyers versus strategic sourcing professionals, the stark difference becomes evident for all the obvious reasons. It’s critical to have someone with a CPSM certification to structure agreements

In Fleming’s experience, smaller companies often face

and Ts and Cs within a purchase order, as well as for their

resource constraints and wear multiple hats, making it more

ability to drive performance and manage quarterly business

of a challenge to focus on strategic value. In contrast, larger

reviews. This certification encompasses everything you could

companies with bigger procurement teams and more experi-

hope for in the ultimate job description for sourcing. On the

enced personnel are better positioned to implement strategic

other hand, a buyer often lacks the comprehensive skill set

approaches, such as center-led distribution, which has shown

needed to achieve such outcomes.”

to be effective for companies with higher revenues.

Forward-thinking smaller businesses should consider keeping abreast of the evolution of procurement practices at their larger brethren and develop a road map that will enable them to develop and adopt best practices as they grow. By learning from the experiences and successes of more prominent companies, smaller organizations can identify opportunities for improvement and pursue more ambitious goals beyond cost savings alone.

Procurement organization as a valued partner Over the years, the relationship between sourcing and internal stakeholders has evolved significantly, transitioning from a perception of procurement as a bureaucratic overhead to a strategic partner. Fleming and Alexander highlight how organizations have faced challenges articulating the value of sourcing and procurement. However, benchmarking data and academic research helps supply management professionals build compelling stories showcasing the significant ROI they

Distribution of sourcing roles The survey results indicate that while a growing proportion of procurement staff engaged in strategic sourcing roles, tradi-

can deliver. They have successfully established credibility with internal stakeholders by demonstrating their ability to gain efficiencies, manage risks, and optimize supply chains.

tional transactional buyers still comprise the largest segment

The coronavirus pandemic played a pivotal role in accel-

within organizations. According to the Metrics of Supply

erating this transformation. The crisis brought supply chain

Management 2022 report by CAPS Research, a Tempe,

vulnerabilities to the forefront, prompting organizations to

Arizona-based organization in strategic partnership with ISM

recognize the strategic importance of effective sourcing. As

and Arizona State University, strategic sourcing increased

a result, procurement professionals were able to capitalize on

from 21.8 percent to 22.3 percent from 2021 to 2022, while

the opportunity and showcase their strategic focus in tackling

transactional buying decreased from 47.5 percent in 2021 to

supply chain disruptions. This experience further solidified

31.1 percent in 2022.

the notion that sourcing is not just a transactional function but

Fleming highlights the significant shift in the roles and

a critical enabler of business continuity and growth.

contributions of these two groups. In the past, buyers were

According to the survey data, 63 percent of respondents

primarily responsible for tactical work, but they are now

strongly agree or agree that their respective organizations

starting to embrace a more strategic approach to procurement.

view their sourcing organization as a valued strategic partner.

Strategic sourcing professionals, often categorized as category managers, have more time built into their daily work to focus on strategic initiatives. They think strategically and consider long-term supplier relationships, market complexities, and risk. As Fleming points out, strategic sourcing professionals are increasingly taking on certifications like ISM’s Certified Professional in Supply Management® (CPSM®)

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This indicates a positive perception of the sourcing function’s significance and contributions to the business. With nearly two-thirds of respondents expressing favorable views, it suggests that supply management professionals actively align their efforts with strategic objectives and add tangible value to the organization.

Internal stakeholders have also played a crucial role in

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shaping the sourcing process. The dialogue and collaboration

highlighting the growing importance of time efficiency in

between procurement and other stakeholders have become

addition to cost savings.

more proactive, with sourcing teams presenting solutions and alternatives to meet stakeholders’ needs. Rather than burdening stakeholders with finding suppliers, supply management professionals now take the initiative to identify and propose viable options, highlighting value propositions that align with stakeholders’ objectives. This alignment allows sourcing to provide tailored support, sourcing expertise, and rapid solutions to help stakeholders achieve their goals efficiently.

Articulating the value of sourcing One of the challenges in sourcing lies in effectively articulating the value procurement professionals bring to the organization. Benchmarking data from entities like CAPS Research can help create compelling stories showcasing the function’s impact. According to CAPS Research, supply management professionals generate an ROI (when counting cost reduction and avoidance savings) of about 845 percent, meaning they generate $8.45 in savings for every $1 salary investment. By leveraging benchmarking data and demonstrating the value they bring through tangible outcomes like supply chain visibility, risk management, and supplier resilience, procurement professionals can establish credibility and gain recognition within the organization.

Fleming highlights how sourcing teams have transitioned from being perceived as hindrances to value enablers for internal stakeholders. Rather than burdening stakeholders with supplier searches, procurement professionals present comprehensive solutions aligning with the organization’s needs and objectives — which showcases suppliers with leading innovations, robust supply chains, and ethical business practices.

This transformation strengthens the collaboration between procurement teams and internal stakeholders, enabling better decision-making and value creation.

Fleming points out that while cost reduction and cost avoidance remain central to procurement organizations, there is a growing emphasis on innovative metrics. These include measuring the number of new innovations brought in and linking them to the revenue increase. Additionally, cycle time reduction for new product releases is seen as a revenue-generating opportunity, reflecting the strategic nature of sourcing in driving business outcomes.

This shift indicates a strategic focus on maximizing efficiency and time savings, aligning sourcing efforts with the organization’s priorities. This emphasis on bringing products to market sooner is seen as a way to increase revenue, gain a competitive edge, and achieve higher success in the market. It highlights the strategic role of sourcing and procurement in supporting innovation and business growth by enabling faster product development and commercialization.

FIGURE 4: What are the top business priorities driving your organization’s sourcing and procurement initiatives? *Ranked by importance, “most important” = 1.0

2.4 Improve cost reductions and savings

2.5

Revenue growth and profit improvements

3.5

Risk management

4.3

Supplier collaboration and innovation

4.7

Employee retention, training, and career strategy

4.8

Improve regulatory compliance with gov’t agencies

Top business priorities for procurement The most critical data points reveal that the top two priorities center around achieving cost reduction and savings (average importance rank of 2.4) and driving revenue growth and profit improvements (average importance rank of 2.5). These rankings underscore the importance of financial optimization and strategic contributions to the organization’s bottom line.

Nichols emphasizes the shift towards metrics and productivity gains as indicators of success. This includes measuring the time taken for supplier onboarding and sourcing processes,

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5.1

Digital transformation

5.5

Established sustainability/ESG practices

6.7

Reshoring of manufacturing and sourcing

6.8

Outsourcing

4.7

Other

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Leveraging digital transformation in strategic sourcing

FIGURE 5: Which most closely describes the maturity of your digital transformation strategy?

The survey data reveals that most organizations (51 percent)

4%

have defined and are implementing a digital transformation strategy for their sourcing organization. These results indicate a significant emphasis on leveraging technology and digital tools to optimize procurement processes and drive efficiency.

Furthermore, 27 percent of respondents are in the process

17%

World-class

No strategy (very transactional)

of defining their strategy, showcasing a growing recognition

27%

of the importance of digital transformation in procurement.

Strategy being defined but not being implemented

However, 17 percent of organizations still lack a digital transformation strategy, indicating the need for increased awareness and action to embrace technological advancements and

51% Strategy defined and being implemented

remain competitive in the digital age.

Nichols’ and Alexander’s organizations exhibit differing maturity levels in their approach to digital transformation.

Nichols’ company is tech-based and operates digitally, priori-

Spend visibility

tizing the implementation of effective workflows to streamline

The data points from the survey provide crucial insights

sourcing activities and related processes. On the other hand,

into the level of spend data visibility within procurement

Alexander’s company operates in an oligopoly in the mature

organizations. While a plurality (39 percent) of organiza-

rail industry. He mentions they currently operate with six

tions reported having good spend data visibility, indicating a

separate procurement systems, which prevents them from

satisfactory level of insight into their spending patterns, it is

achieving centralized procurement and may lead to some inef-

noteworthy that a considerable number (27 percent) consid-

ficiencies in sourcing. This variation underscores the influ-

ered their visibility to be average. On the bright side, nearly

ence of different industries and company ages on the pace and

one out of five respondents (19 percent) indicated that their

extent of digital transformation adoption.

organization has excellent spend data visibility, showcasing

While some organizations are embracing digital tools, virtual warehousing, and third-party solutions to optimize their supply chains, others are still navigating the transition and focusing on upskilling their workforce. The level of maturity in digital transformation depends on the industry, the age of

a more comprehensive understanding of their procurement spend. However, the data also raises concerns as 12 percent of organizations reported poor visibility, and a smaller percentage (3 percent) indicated that their spending data visibility was nonexistent.

the company, and the organization’s willingness to embrace

Fleming points out that the digital transformation landscape

technological advancements in sourcing and procurement

includes many third-party niche players offering specialized

practices.

services. These providers offer affordable software subscrip-

Alexander envisions the future of digital transformation to include improved databases and data analysis, facilitating robotic process automation (RPA). Alexander’s vision of the future of digital transformation aligns with the recent findings from the CAPS Research 2022 Metrics of Supply Management

tions that streamline various aspects of sourcing and procurement, such as supplier discovery, risk analysis, and compliance checks. Embracing such solutions empowers organizations to access valuable data and insights without significant technology investments.

report. According to the report, 61 percent of surveyed com-

These insights underscore the power of digital transforma-

panies have already embraced RPA to streamline their buying

tion in sourcing and procurement decision-making. Utilizing

transactions and realize other benefits. As databases continue

digital platforms that offer comprehensive data on suppliers’

to improve, RPA can play a pivotal role in automating routine

financial health, ethical practices, and market trends enables

tasks and bolstering data analysis within organizations. This,

procurement to make well-informed decisions. Such tools

in turn, leads to increased sourcing efficiency, lower operating

facilitate risk assessment, supplier selection, and efficient sup-

expenses, reduced purchase order costs, and a higher ROI.

ply chain management, improving outcomes and cost savings.

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FIGURE 6: What level of spend data visibility does your supply management organization have?

12% Poor

navigate uncertainties and ensure stability in an increasingly complex and ever-changing business landscape.

Fleming notes a significant shift toward recognizing the

3%

Nonexistent

value of ESG factors in supplier selection. Companies and supply chains increasingly feel compelled to adopt sustainable and responsible sourcing practices as media reports highlight

39%

19%

Good

Excellent

unethical practices. This shift indicates a growing awareness

FIGURE 7: Does your supply management organization’s resiliency plan include...

27% Average

80% Compliance

Resiliency planning The data points from the survey on procurement organiza-

76% Risk analysis/management

tions’ resiliency plans provide valuable insights into the critical components organizations are incorporating to enhance their resilience.

70% Business continuity planning

The overwhelming majority of procurement organizations (80 percent) prioritize compliance as a central aspect of their resiliency plans, emphasizing the importance of adhering to regulatory requirements and industry standards. Moreover,

47% Defined ESG program

risk analysis and management play a significant role, with 76 percent of organizations integrating these practices into their resiliency strategies to proactively identify and mitigate potential disruptions. Additionally, business continuity planning is embraced by 70 percent of procurement organizations, reflecting their commitment to ensuring continuous operations during unforeseen events.

The data highlights the essential role of compliance and risk management in building resilient procurement organizations.

By prioritizing compliance, organizations can maintain legal and ethical standards, minimizing the risk of penalties and

FIGURE 8: What are the priorities of the following elements to your supply management organization? *Ranked by importance, “most important” = 1.0

2.4

Business partner alignment and engagement

2.5 Having a relevant financial impact

3.2

reputational damage. The focus on risk analysis and business

Joint strategic planning

continuity planning allows organizations to identify vulner-

3.7

abilities and establish proactive measures to protect their supply chains and operations during unforeseen challenges. Moreover, 47 percent of organizations have a defined environmental, social, and governance (ESG) program as part of their resiliency plan, indicating a growing recognition of the significance of sustainable and socially responsible practices in bolstering resilience. Emphasizing compliance and risk management in resiliency plans is vital for procurement organizations to

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Being a customer of choice

3.8

Supplier development

4.0 Early supplier involvement (ESI)

3.9

Other

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FIGURE 9: What are the importances of the following metrics to your supply management organization? *Ranked by importance, “most important” = 1.0

2.3

of supplier decisions’ long-term impact on the organization and the broader world, aligning sourcing efforts with ESG considerations.

Sourcing priorities The survey data on sourcing organization priorities reveals

% Cost reduction savings

that business partner alignment and engagement (average

3.5

rank of 2.4) and having a relevant financial impact (average

% Cost avoidance savings

rank of 2.5) are paramount. This indicates that procure-

3.7

ment organizations prioritize fostering strong partnerships

% Contribution to increased margin

with internal stakeholders and ensuring that their initiatives

4.4

deliver tangible financial benefits to the organization.

% Increase in revenue generation

4.4

% Spend under management (total)

4.6

Nichols highlights the evolving business priorities and the changing expectations for procurement due to economic environments and company performance. She emphasizes the importance of prudence in spending and the need for

Return on investment (ROI)

procurement to align with the organization’s overall objec-

4.9

% Spend under management (direct)

5.7

tives, particularly regarding budget allocation. Rather than simply reducing budgets, procurement should strive to devise and oversee plans to spend more effectively and strategically.

% Spend under management (indirect)

5.8

Understanding these priorities is crucial for supply management professionals to align their strategies and efforts, ensuring

% Diversity supplier spend

that sourcing practices are efficient and contribute significantly

6.6

to overall business success. By prioritizing these elements,

# of innovations

procurement organizations can strengthen partnerships, drive

3.8

financial impact, and foster supplier development to enhance

Other

competitiveness and deliver value to their organizations.

FIGURE 10: Has your organization created or implemented a strategic sourcing initiative?

Sourcing metrics The survey data on sourcing organization metrics reveals that cost reduction savings rank as the most critical metric (with an average rank of 2.3). This underscores the paramount focus on achieving cost efficiencies and financial optimization

24%

in sourcing practices. Identifying and mitigating potential costs before they occur is crucial, and percentage of cost

NO

avoidance savings (with an average rank of 3.5) is essential in achieving this.

76% YES

The data also highlights the significance of percentage of contribution to increased margin (average rank of 3.7) and percentage of increase in revenue generation (average rank of 4.4) for procurement organizations. These metrics emphasize sourcing initiatives that directly impact profitability and revenue growth. Moreover, the percentage of spend under management (total) and ROI metrics (average ranks of 4.4 and 4.6, respectively) underscore the importance of effective

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spend management and strategic decision-making in procure-

artificial intelligence (AI), the Internet of Things (IoT),

ment practices.

blockchain, and other emerging technologies. However,

Fleming emphasizes the need for procurement professionals to be more metrics-driven and accountable. He points out that

balancing this with ensuring AI safety and effective data analytics is paramount.

many procurement organizations struggle to quantify their

4. Adapting to market changes: Organizations should stay

value and demonstrate their impact on the organization. This

vigilant about market dynamics, supply chain challenges,

lack of measurable results can hinder the credibility and rec-

and inflationary pressures to adapt and make informed

ognition of procurement teams. By focusing on metrics such as

sourcing decisions.

ROI, percentage of managed spend, and cost savings and avoidance, procurement professionals can provide tangible evidence of their value and contributions to the company’s bottom line.

Embracing a more data-driven approach helps build confidence in procurement’s strategic decision-making capabilities.

Strategic sourcing readiness

5. Certifications and skill development: Providing training and certifications in strategic sourcing for procurement professionals will elevate their capabilities and drive more effective sourcing practices.

Fleming anticipates the increasing use of technology, particularly artificial intelligence, the Internet of Things (IoT), and blockchain, to enhance strategic sourcing processes. However,

The survey data on strategic sourcing initiatives reveals

this technological advancement also poses challenges related

that most organizations (76 percent) have already imple-

to AI safety and data analytics. Organizations must balance

mented or created such initiatives. This widespread adoption

embracing technological innovation and implementing effec-

underscores the recognition of the importance of strategic

tive governance policies to mitigate potential risks.

sourcing in modern procurement strategies. Nichols emphasizes the need for a proactive approach to strategic sourcing.

“We have nearly one supplier for every employee,” she says.

“We know that the suppliers are not unique to one another.

So that fragmentation is real, and we are working on it in a way that supports business growth while creating a scalable environment for us.”

Alexander identifies several challenges in strategic sourcing, such as supply chain latency, scarcity of materials, logistics costs, and talent retention. In the past, companies generally could pass price increases along to customers, but this approach has challenges, said Alexander, due to increasing customer

Sourcing governance infrastructure The survey data on formal sourcing governance infrastructure provides critical insights into the organizational structures supporting strategic sourcing practices. Most organizations (63 percent) have a formal sourcing governance infrastructure, indicating a proactive approach to managing and optimizing procurement processes. This data highlights the importance of having a structured and standardized approach to sourcing, ensuring that sourcing initiatives align with business objectives and comply with regulations.

resistance to price hikes. Consequently, organizations must be

The correlation between a formal sourcing governance

more innovative and efficient in their sourcing and procure-

infrastructure and strategic sourcing initiatives (as seen in the

ment practices to navigate these challenges successfully.

previous data) further emphasizes the significance of these

To achieve strategic sourcing readiness, organizations need to focus on several key aspects: 1. Educating and building awareness: Companies should prioritize educating their employees about the concept and benefits of strategic sourcing to foster a culture that embraces and supports these initiatives.

governance structures. Organizations with strategic sourcing initiatives and formal governance structures are better positioned to drive cost efficiencies, supplier collaboration, and overall procurement excellence. These structures facilitate data-driven decision-making, supplier relationship management, and risk mitigation strategies, enabling effective navigation of the complexities of the supply chain landscape. For

2. Breaking down silos: Encouraging collaboration among

supply management professionals and decision-makers, this

business units is crucial to optimize sourcing decisions and

data underscores the value of establishing and maintaining

find solutions catering to multiple needs.

3. L everaging technology: Companies can significantly enhance their strategic sourcing processes by embracing

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robust sourcing governance to drive successful procurement outcomes, optimize resource allocation, and foster a culture of continuous improvement.

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39

FIGURE 11: Does your organization have a formal sourcing governance infrastructure in place?

competitive global marketplace by prioritizing cost savings, revenue growth, supplier collaboration, data visibility, and strategic alignment. Embracing digital transformation and sustainability initiatives will further position procurement for

9%

long-term growth and resilience.

I don’t know

Key takeaways and future outlook for strategic sourcing

28% NO

ISM’s 2023 Strategic Sourcing Survey sheds light on critical

63%

aspects of strategic sourcing and sourcing governance infra-

YES

structure. The survey data and SME insights provide valuable perspectives to guide procurement professionals and decisionmakers in navigating the future of procurement.

Among the key takeaways:

Executive summary

1. Evolution of strategic sourcing: Strategic sourcing has evolved beyond a standard procurement process to become

This year’s survey data reveals critical insights into the

a comprehensive, forward-thinking approach aligned with

priorities and practices of procurement organizations, offering

overall business goals and long-term plans. Organizations

valuable guidance to chief procurement officers (CPOs) and

increasingly recognize the importance of strategic sourcing

supply management professionals. Strategic sourcing initia-

in driving cost efficiencies and supplier collaboration to

tives have become increasingly prevalent, with 76 percent

achieve procurement excellence.

of organizations implementing them. This underscores the

2. Collaborative nature of strategic sourcing: Collaboration

growing recognition of strategic sourcing’s significance in

between procurement and business units is paramount for

driving cost savings, revenue growth, and overall business

successful strategic sourcing initiatives. Strategic sourcing

success. To support these initiatives, a substantial majority (63

professionals must speak the language of the organization,

percent) have a formal sourcing governance infrastructure,

aligning their strategies with factors such as profit, cost

ensuring alignment with business objectives and compliance

reduction, inventory management and working capital.

with regulations.

Improving cost reduction and revenue growth are top priorities for sourcing and procurement.

Improving data analytics capabilities is essential for making informed decisions, optimizing costs, and capitalizing on supplier innovations. To be viewed as valued strategic partners, supply management professionals must align their sourcing strategies with overall company goals and foster strong relationships with stakeholders.

The data also underscores the diverse distribution of sourcing roles, with dedicated buyers (transactional procurement practitioners) slightly outnumbering strategic sourcing professionals. Understanding this distribution enables organizations to optimize procurement operations and leverage the strengths of each role for greater efficiency and effectiveness in sourcing practices.

Organizations can drive success in a dynamic and

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3. Digital transformation: Embracing digital transformation is crucial for procurement organizations to optimize procurement processes and enhance efficiency. The survey data indicates that most organizations have defined or are implementing a digital transformation strategy. By leveraging technology and data analytics, supply management professionals can make well-informed decisions, achieve cost savings, and drive revenue growth.

4. Resilience planning: A robust resiliency plan that prioritizes compliance, risk analysis, and business continuity is essential for procurement organizations to navigate uncertainties and disruptions effectively. Moreover, a growing recognition of ESG factors in supplier selection underscores the need for sustainable and socially responsible sourcing practices.

5. Sourcing governance infrastructure: The survey data highlights the significance of a formal sourcing governance infrastructure, with 63 percent of organizations having

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one. A structured and standardized approach to sourcing ensures alignment with business objectives and regulatory compliance. Organizations with strategic sourcing initiatives and formal governance structures are better positioned to drive cost efficiencies, supplier collaboration, and overall procurement excellence.

6. Metrics-driven approach: Practitioners must embrace a metrics-driven approach to demonstrate their value and contributions to the organization. By focusing on metrics such as cost reduction savings, percentage of spend under management, and ROI, procurement teams can establish credibility and gain recognition for their strategic decision-making capabilities.

7. Strategic sourcing readiness: The survey data indicates that most organizations (76 percent) have already implemented or created strategic sourcing initiatives. Companies should prioritize education, cross-functional collaboration, technology adoption, and skill development to ensure strategic sourcing readiness and drive business success.

The strategic sourcing landscape continues to evolve, with a growing emphasis on collaboration, digital transformation, resiliency planning, and sustainability. Organizations that prioritize a structured and metrics-driven approach, leverage technology, and embrace strategic sourcing practices are better equipped to achieve cost efficiencies, drive revenue growth, and foster a culture of continuous improvement.

As the procurement function evolves into a valued strategic partner, practitioners are crucial in optimizing spend management, supplier relationships, and supply chain operations. By embracing the key takeaways from this survey and interviews, procurement leaders can successfully elevate their organizations to meet the challenges and opportunities of a dynamic supply chain landscape — as well as a competitive global marketplace. n Institute for Supply Management® (ISM®) is the first and largest not-for-profit professional supply management organization worldwide. Founded in 1915, ISM has a community of more than 50,000 across 100 countries.

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41

ENGAGING THE C-SUITE: A ROAD MAP FOR SUCCESS

By David Chapnick Partner Vantage Partners

and David Vazdauskas Chief Marketing Officer Vantage Partners

An invitation into the C-suite is every account manager’s dream. What could be better than going straight to the top? Having an advocate — or even better, a relationship — at the highest level could open doors and close deals throughout their organization.

The key is just to get the meeting, right? And then sell the hell out of ’em.

As you’re putting the finishing touches on your pitch, your inner voice keeps whispering, “Sell, sell, sell!” And now the voice is getting louder. The hard-sell approach has won deals for you before. So why not go with what’s always worked. Right?

Wrong.

Not in this case. Not with this audience.

Unlike functional “buyers,” the C-suite isn’t interested in delving into detailed product specs, time-consuming demos, or pricing plans. Even if these executives are not the final decisionmakers (perhaps their role is as an advocate, gatekeeper, or consensus builder), engaging with these leaders calls for recognizing and understanding what matters to them at a higher level.

How will your solution help a COO, CFO, or CMO (or many times, the D-suite for that matter) achieve their strategic goals? Are they faced with new, aggressive competition requiring greater differentiation and speed in their go-to-market strategy? Are they focused on gamechanging innovation? Eyeing new market or customer segments? Making an acquisition, launching new products, or seeking new channel partners?

Only after understanding their strategic focus can you imagine how your company can help them achieve these goals, and do so in a way that’s better than your competitors.

And while in an ideal world you might have close connections in the C-suite for all your accounts, it’s more important to have these relationships in the right accounts, and for the right reasons.

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We’ll review specific strategies that can help create engagement with senior executives — from getting in the door, to what to do once you’re in, and beyond.

But while getting and having the meet-

Push hard in thinking about and aligning your internal stakeholders around the question, “is the juice worth the squeeze?”

ing are of course key milestones, the engagement process starts even earlier, with a broader road map to the C-suite that begins with strategic account planning and goals.

The road map is shown below. We’ll briefly review each step and, later, suggest ways to avoid some of the most common pitfalls that could occur along the way.

Determining the right relationships to build In some ways it goes without saying: not every customer merits a relationship within the C-suite. Perhaps some accounts are humming along nicely, with little turbulence or missed opportunities. Other accounts simply aren’t large or strategically valuable enough to devote resources towards establishing a C-suite relationship. When considering a C-suite initiative, recognize it will take significant time and energy, and focus only on those accounts where the engagement will further both your company’s goals and theirs. Push hard in thinking about and aligning your internal stakeholders around the question, “is the juice worth the squeeze?”

Building a robust account strategy and cadence

these may provide a compelling reason to reach into the highest levels of an account.

Determining how your company’s goals and the goals of the customer are aligned can be a key element of your account strategy — and become a compelling value message to a C-suite executive. For example, if they’re about to enter a new geographic market where your company is about to be heavily invested, that’s a valuable strategic alignment. Or, if they’re targeting a new industry in which you’re already entrenched, you can provide invaluable competitive intelligence.

And don’t forget the nuts and bolts of the account planning process when considering your C-suite engagement. Set your objectives, activities to meet them, metrics, and your timeline for working with each of the key stakeholders critical to advancing your strategy.

Of course, every account strategy requires an understanding of the customer’s needs and business goals. But this becomes critical at the C-suite level. Determining how your solution supports these strategic goals is key to engaging with senior executives. We’ll discuss how to prepare your analysis of their goals in greater detail in “Preparing for the C-suite discussion.”

Developing the account relationship and influence map Once you’ve established your account objectives, the next step is to figure out how to get there. What relationships have you already built, and what is their relationship to the C-suite?

The account strategy must also reflect your own company’s

How many degrees of separation are there between them and

strategic goals. Is it to expand into new markets, grow busi-

the top executives? Creating this “influence map” provides a

ness within established accounts, defend price increases, or

visual of who might have leverage to get you into the C-suite

integrate new technologies, services, or innovations? Each of

and provide direction for the intermediate relationships you’ll

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43

need to build. Prepare for those introductions and meetings

the meeting will alert the executive of the strategic impor-

in the same way you would prepare for a C-suite discussion.

tance of why a near future meeting is in their best interest.

The key to building and leveraging any of these relation-

But if the reason for the meeting won’t be seen as a burning

ships is to establish yourself as a trusted advisor. The more

issue in their eyes, also do not instill a false sense of urgency

you’re seen as having valuable insights, a strategic eye, and

to your request. This can go badly in two ways: it signals to

a deep understanding of their own customers, the more likely

the executive you don’t understand their strategic priorities

you’ll be referred to increasingly senior members of their

while also undermining any future missives you send claim-

organization. Being a trusted advisor will exponentially ease

ing a sense of urgency — the “cry wolf” syndrome.

your navigation through the influence map.

Preparing for C-suite discussions

3. W hich requests will catch the executive’s eye quickly and have high relevance?

Your message shouldn’t arrive cold, or it is likely dead on

This step requires significant research, planning, and

arrival. Your connection to the C-suite almost always should

insight into the executive’s goals and psyche — as well as a

come from an existing relationship or referral within the

brass-tacks acknowledgement of the demands, time pressure,

company — or at times through strong external connections.

and need for results they have.

That’s where the “influence map” will come into play.

Before composing that first reach-out email (or requesting a referral from an established relationship), there are a number of questions you’ll need to consider and prepare for accordingly.

1. W ho in the C-suite do you need to engage — and why?

of ways to establish your existing relationships and credibility: • C ommunicate that your company is already a partner (if true) and refer to specific solutions already in place.

Attempting to engage directly with the CEO may tap into

• Mention your existing key relationships within the com-

that “going-straight-to-the-top” energy, but it’s often very

pany, and (if true) their suggestion that you contact the

likely a different C-suite or even D-suite executive whose

executive.

priorities are most directly linked to your solution. And it may go without saying that trying to engage with the entire C-suite may unintentionally signal a lack of understanding of where specific responsibilities reside.

Here, it’s absolutely crucial to put on your strategy hat.

Which executive’s goals most align with the success of your product and relationship? Is it purely a financial consideration on which the CFO is focused, or does it tap into the CMO’s strategy of combatting new competitors and becom-

• Directly address the strategic opportunity (or problem resolution) as soon as possible.

• Clearly communicate the objective of the meeting and why it’s timely.

• Offer one snippet of insight, supported by a concise piece of research — ideally, the executive will want to hear more about how that will solve their problem or seize an opportunity.

• A llow the executive to envision what specific result will

ing a fast mover? Or maybe the newly minted CTO isn’t

come out of the meeting.

familiar with the cutting-edge technology of your solution,

Of course, a reply may come from an assistant, ideally with

or the COO is concerned about how your software will align

a time and place for the meeting. But even if the reply is a

with their retooled manufacturing. Or in some way is a dual

“no,” make sure to show appreciation for the response, and

target audience appropriate?

continue to work closely with your current relationships at

2. W hy is your reach out timely — or perhaps even urgent?

Is there an important decision that’s imminent? Do you have information or a solution which may impact a recent acquisition? Has there been a glitch in the relationship, or a performance problem with the product that needs to be addressed immediately? In these cases, time is of the

44

When you do reach out to the C-suite, there are a number

the company. Where possible and appropriate, name names to enable the senior executive to follow up with that person to address the opportunities you’ve outlined if they would like.

Preparing for the meeting and avoiding potential pitfalls

essence, and requesting a meeting as soon as possible is not

Congratulations! You’ve just scored a meeting with the

an unreasonable ask. And acknowledging the timeliness of

COO of a large potential account. Let’s say it’s to discuss how

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your new product will support a major initiative the COO is spearheading to launch their own product in a new industry.

You’ve already presold the business unit and procurement heads on just about every aspect of the product — pricing, after-sales support, payment and delivery terms, and all the other elements of a potential deal.

Now the COO wants just a few minutes with you. And she emphasizes “just a few minutes,” because that’s likely all the time you’ll have to gain her support for the deal.

Your appointment is slotted in between a host of fires the COO will be putting out that day — a weather disaster at a key manufacturing plant, a meeting with the CEO of a major customer with supply concerns, and a potential acquisition of a channel partner.

So, you know you won’t have a lot of time to impress her, and she’ll likely be distracted. And you just found out that she’s also scheduled time with your biggest competitor, who offers a similar solution.

There’s also a sense of urgency in the COO’s request to see you. The company’s investors are impatient for a winning product, something they haven’t had in years. And the once comfortable lead position they’ve held in their category is fast eroding, adding pressure to make this launch both successful and fast to market.

It may be a make-or-break situation for the COO, and you could emerge as a key strategic partner to their senior executives.

as being unsure of what to prepare.

How to avoid it: • Make a checklist of the things you need to research and analyze so you can use your time wisely. Some tasks will take longer than others and you’ll need to incorporate that into your timeline.

• C onduct an extensive review of their full product line and customer segments — even those that may not directly incorporate the product or service at hand. Pay special attention to their newest offerings and industry segments as it will shed light on their future focus.

• Understand their geographic footprint and overlay it against your company’s own. Having intimate knowledge of a geographic market and its eccentricities will add value to your discussion.

• A ssess their financial footing. If their revenues are sliding, they may be in a defensive situation and particularly concerned about cost. You should be prepared to empathize with this and show how your solution can support efficiency gains.

• Become familiar with how they position their brand — to their customers, investors, and partners. What brand attributes do they emphasize? Trust? Innovation? Reliability?

To the extent your company’s own brand positioning aligns with theirs, you can establish how your brand reinforces their positioning.

What could go wrong? Actually, quite a lot! Becoming aware of the potential pitfalls ahead — and avoiding them — will make the difference between a seismic missed opportunity and a lasting, valued relationship.

Pitfall #1: Inadequately preparing Failing to prepare for your conversation is the number one pitfall for good reason. If you don’t prepare, you’re likely to fall into the other pitfalls as well! And be forewarned — this preparation will take time. Set aside enough to become an expert in their business if you aren’t already. Inadequate preparation stems from not knowing how to prepare, as well

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problem-solving — not selling.

• Be a trusted partner. Make the senior executive see that you’re there to build a relationship and support them in meeting their business goals, not trying to close a deal. Sharing strategic insights, offering solutions to problems, or sharing your own industry research and insight shows you’re not “selling,” but building trust.

Pitfall #3: Failing to establish credibility Don’t assume your credibility has been pre-established just because you got the • A nalyze their competitors. Are they the industry leader, but

meeting. And don’t assume your company’s stellar reputation

with upstart competitors breathing down their neck? Are

establishes your personal credibility. Many deals have been

they themselves the laggard, and if so, what advantages do

undermined by a C-suite executive questioning whether the

the market leaders have over them? How will your solution

account manager in front of them truly knows their business

help in either scenario?

• Assess their strategic position in their market. Run a SWOT analysis to determine their opportunities and market threats.

Perform a value chain analysis to understand the ways in

and its challenges. Failing to establish credibility could kill a deal early in the meeting and opens you up to competitors who do.

How to avoid it:

which they deliver value to their customers and where and

• Establish early on that you not only know your business,

how they might improve. The insights gleaned from this

you know their business. The preparation you’ve done will

analysis can be shared and tested in your meeting. (See #5.)

go a long way towards demonstrating this but will be useless if you don’t display this knowledge early in the meet-

Pitfall #2: Seeking to sell Salespeople sell. And buyers buy, right? But that’s not the dynamic in the C-suite. Rarely will those executives be “buyers.” That job more likely falls to their procurement team and the business unit directors and managers, who no doubt you’ve already seen (or will see). Treating C-suite executives as “buyers” signals a severe misreading of their actual role. Seeking to “sell” is a guaranteed misfire in the C-suite.

How to avoid it:

ing. And instead of merely reciting your research, distill it into just a few insightful observations about their business challenges today.

• A sk hypothesis-driven questions vs. open-ended questions.

A question such as “A lack of extensive in-house analysis tools today may be contributing to your increased throughput time. Has this impacted customer delivery?” puts out a hypothesis to test, showing you’ve done your homework, and demonstrates expertise, while also discovering the executive’s needs.

• Don’t even think about pulling out brochures, spec sheets,

• Take a cue from the courtroom. Witnesses are deemed

pricing, or other “sales” collateral — unless you’re specifi-

credible when they are perceived as both competent and

cally asked for it. Ideally, a discussion that begins with the

believable. Your experience and training will establish the

executive’s strategic goals will lead more organically to a

former, but more intangible qualities like trustworthiness,

segue into how your solution supports these goals.

and honesty will support — or undermine — the latter.

• Focus on the business need, challenge, or opportunity,

• Share how other similar customers have benefited from

not the product. Starting with the need, and then mak-

your offering. A COO will appreciate the value their peers

ing a connection to how your solution meets that need, is

received, as well as lessons learned for their organization.

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On the other hand: • Don’t sugarcoat the C-suite exec’s challenges. It will signal naivety and a misunderstanding of their situation.

• Don’t position your offering as an instant panacea. (But do illustrate how it can be implemented quickly.)

• Don’t immediately dismiss a competitor’s offering. Instead, offer a brief but compelling overview of the key differences that elevates your offering as the better solution, while acknowledging strengths of their offerings as well.

your external view of the market and an understanding of their position in it. Failing to do so misses a huge opportunity to be seen as a trusted, strategic partner.

How to avoid it: • Strive to be seen as a trusted advisor, not just another “salesperson.” By offering an honest, balanced — and potentially negative — assessment of a particular situation, you can show you’re not just trying to curry favor to win the business. The senior executive has likely seen plenty of that.

• Bring competitive intelligence — even the “underground”

Pitfall #4: Speaking the wrong language The kind of language used on your website may be helpful to lower-level managers searching the horizon for what solutions may exist in the marketplace. They may even help qualify your company as a potential vendor. But using that language with a C-suite executive will demonstrate you’re not in their head, and don’t understand their needs, challenges, or concerns — or their audiences’.

How to avoid it:

variety — into the conversation. But make sure it’s factual and not just rumor mongering. And connect it to how your solution can address those competitive dynamics.

• A sk questions! Insightful questions demonstrate a keen understanding of the situation. They also allow you to uncover any “hidden” roadblocks within the C-suite that might prevent the successful onboarding of your solution.

Uncovering these potential roadblocks sooner, rather than later, allows you to address them, provide follow-up, and accelerate the sales cycle.

• Imagine the C-suite executive describing your solution during an earnings call with investors and analysts, highlighting the specific factors your solution contributed to their quarterly performance. How will your solution contribute to the successes that the CEO hopes to tout? Use that language during your meeting, allowing the executive to almost hear themselves think!

Delivering results and staying “in the circle” Engaging with the C-suite goes beyond the meetings themselves. You should remain proactive in keeping communications flowing and provide any and all deliverables promised during your discussion. And remember that the moment you leave their office, countless other crisis-bringers and opportu-

• Study the company’s annual report, or if it’s a private com-

nity-mongers have entered. You’ve temporarily left the execu-

pany, read their press releases and news coverage. How does

tive’s thought space and must continue to deliver value to stay

the company describe its “big picture”? How does it define

top of mind and “in the circle.”

success? What language do they use to describe a successful vendor relationship or partnership? Use the same type of language to make a connection with the senior executive, and to demonstrate that you see the bigger picture behind your offering.

Pitfall #5: Failing to deliver strategic insights While an understanding of the executive’s business dem-

There are several ways to accomplish this: • W hen sharing your strategic observations, insights on competitors, and the contribution your product will make to the firm’s success, suggest an additional action you might take to move forward. This may include providing additional performance data, connecting them with other current customers, or a scheduling time to review your company’s technical road map, R&D activities, and new product funnel.

onstrates preparation, sharing your own insights into the

• A lign your future deliverables with the executive’s dem-

challenges of the business adds value to the conversation.

onstrated interest in a particular area. More information

C-suite executives often become insulated from truly objec-

on Competitor A? Further data on your product’s beta

tive assessments of their situation — perhaps unintentionally

tests? Make sure to pick up on these hot buttons and

by mid-level managers trying to paint an overly rosy picture

enhance your perception as a trusted partner by offering

of their market standing. You’re in a unique position to offer

to feed information that scratches an itch. By doing this,

objective insights the senior executive may crave, based on

executives will look forward to your follow-up email with

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additional insight, because they requested it!

• If possible, try to present new information in person to solidify your position as a trusted advisor and to further strengthen the relationship. Offer to bring in others — perhaps the subject matter experts within your firm, an

Mistakes happen. Trust is built when there’s full transparency into the cause and the remedy.

The C-suite engagement playbook Incorporating all of this research and preparation — and

engineer, or a data analyst — to answer more in-depth

avoiding common pitfalls — can be made easier through the

questions the executive might have. Ideally, the executive

development of an engagement playbook. It’s an efficient way

will do the same, bringing in their experts and expanding

to keep tabs on the work you’ve done, stay on track, and leave

your circle of relationships and influence.

no stone unturned. We’ve found the playbook on the previous

• Understand that the executive may often pass the next steps on to a director or other team member. Don’t take

page to be a valuable guide to navigating through the C-suite engagement process.

this as a failure to engage. You wouldn’t have been referred

Using a playbook like this paves the road to the C-suite,

to these individuals if the executive didn’t trust you or

making it easier over time, while supporting others in your

doubted your understanding of their business. Keep the

organization to do the same. But whether you use a simple

executive informed of how these follow-up conversations

checklist or a more comprehensive playbook, understanding

evolve. You’ll be able to provide more objective information

that C-suite engagement is a process will ensure that you’ve

on how ideas are received throughout their organization,

addressed every aspect, and ideally made it repeatable.

and perhaps even help the executive detect where hurdles may exist.

Developing the soft skills to succeed

• Track progress and share successes. Perhaps even suggest a quarterly check-in and business or project review. Not every success is immediate, but in the meantime, aim to establish a cadence in your relationship with them.

Avoiding each of the pitfalls described above and solidifying your standing as a trusted advisor to C-suite executives requires not only behind-the-scenes preparation but superb “soft skills.” Honing your communication, collaboration,

• A nd it goes without saying that any issues that arise during

influence, and presentation skills will ensure that all the

your discussion need to be addressed immediately. Being

preparation you’ve done hits its mark in a clear and compelling

a trusted advisor means not only acknowledging when

way, while presenting your message with conviction, pres-

there’s a problem, but putting resources behind solving it.

ence, and confidence builds the trust you’re seeking.

ILLUSTRATIVE COMPONENTS OF A C-SUITE ENGAGEMENT PLAYBOOK

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Engaging the C-suite story capsules Establishing credibility with the C-suite — understanding their strategies, speaking their language, and gaining their trust — is crucial to establishing you and your company as a true partner. Removing your sales hat and becoming a valued collaborator, advisor, and strategic “partner in crime” will not only help gain access to the C-suite but also establish a longterm and successful relationship.

the meeting. When Tricia explained the plan, she was later told that “if their CEO wasn’t attending there was no point for ours to attend.” Despite Tricia’s repeated follow-ups to persuade them otherwise, the pleas went unanswered. When the customer’s CIO learned this, he cancelled the session. “If it’s not important enough, we can go somewhere else.” Refusal to attend the working session cost the company over $100M in revenue that year alone.

The lesson: When it comes to the C-suite, egos can play a

Story Capsule #1 — The disastrous thank you Tim, a senior strategic account manager for a global IT firm, was able to finally score a meeting with the CTO for a large industrial conglomerate. It was a major coup, and he had done exhaustive preparation and research. Tim started the meeting by thanking the executive for their significant business over the years, to which the CTO tersely responded, “You’re welcome.” Tim might have left well enough alone and begun a discussion about the CTO’s future challenges and how his company could help her. Instead, Tim added, “Because there aren’t a lot like you anymore.” Of course, the CTO knew the industry was changing, and was also aware that Tim’s company had a lot of competitors adapting to those changes — perhaps even better than Tim’s company — but didn’t know the extent to which their other customers had adapted and changed. Following the meeting, the CTO promptly paused all orders as they reevaluated the market.

The lesson: It’s not about you. It’s about them. Don’t take loyalty for granted, and always assume your landscape is changing. It’s your job to find out what this means to senior leadership.

big role. Though in many ways, Tricia was the victim of her CEO’s choice, she could have potentially averted this clash of egos by asking the CIO to hold a preliminary workshop with her marketing and IT senior staff, and the CIO’s corollary staff. The outcomes from that workshop might have persuaded Tricia’s CEO that this represented a significant revenue opportunity, and not just a trip to match egos.

Story Capsule #3 — From friend to adversary Roberto was eager to introduce his medical device company’s suite of solutions and new innovations to the new COO of a major healthcare customer. He knew an RFP was in the works and was eager to establish a relationship with the new executive. The good news: after some effort he secured the meeting. The bad news? He neglected to tell his longtime relationship at the customer — Joyce, a mid-level operations director — of his meeting. Joyce had always shielded Roberto from the top executives, and he was worried competitors were already courting the C-suite. When he arrived at the meeting, there sat the COO, and there was Joyce. She never let on that Roberto never mentioned the meeting to her, letting the COO assume they had both planned it. But the relationship between

Story Capsule #2 — If you’re not going, I’m not going Tricia, head of global accounts for a Fortune 100 software

Roberto and Joyce was never the same, and a competitor eventually won the RFP.

company, prepared for her quarterly meeting with a major

The lesson: Roberto’s eagerness — perhaps even despera-

customer’s CIO. She prepared her usual update of solutions

tion — to access senior executives sacrificed what up to then

utilized by the CIO’s company, with new ideas about how they

had been a trusted relationship. He should have leveraged this

could be leveraged even further. But before getting to the first

relationship with Joyce, explaining why it would be mutually

slide, the CIO interrupted to say, “I want to talk about some-

beneficial for them to introduce the new suite of solutions to

thing else. We want to rebrand as an e-business. I want your

the COO. Joyce could have been an enthusiastic advocate, but

company to help us do that.” He said he wanted to arrange

instead became a former customer. n

an all-day working session to brainstorm the transformation, and how Tricia’s company could support it. He went on to ask that Tricia’s CEO also attend, given the enormity of the transformation required. With a solution in hand, they would then get authorization from the customer’s CEO. Tricia was elated, and immediately contacted her CEO’s office to set up

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David Chapnick is Partner at Vantage Partners and can be contacted at dchapnick@vantagepartners.com or on LinkedIn at www.linkedin. com/in/davidchapnick/.

David Vazdauskas is Chief Marketing Officer at Vantage Partners and can be contacted at dvazdauskas@vantagepartners.com or on LinkedIn at www.linkedin.com/in/david-vazdauskas-0160b51/.

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WHAT DO ACCOUNTS REALLY NEED? A smarter, more impactful, and more-agilethan-ever partner!

By Dennis J. Chapman Sr. Founder, CEO The Chapman Group (TCG)

SURVEY. Yup, I said it. Who wants

is insufficient for gaining optimum account

to do another survey? In our house, we

intelligence. As strategic suppliers we need

might just call this a “red” word. In an aca-

to listen, learn, and deliver (act) to satisfy

demic sense, red words are high-frequency,

shared priorities and needs. Action, the

irregular words, which do not follow a par-

last and most essential piece of the process,

ticular pattern. They are mysterious, they

enables a cross-functional account team to

are scary, they are a nuisance. But they are

utilize feedback insights to formulate a plan

also incredibly powerful. “Survey” does not

to create loyal and committed relationships.

need to be a red word.

This is an essential element in the stra-

Surveys can be scary because they often fail. They lack structure, cadence, ownership, accountability, and follow-through.

Strategic accounts need more than a survey, they need a platform within the relationship to provide candid feedback on the relationship to communicate where their needs are

tegic account management (SAM) process since we know loyal accounts stay longer, buy more in volume, and buy more solutions (expansion of the portfolio) from their strategic suppliers. These outcomes are all critical in the quest for delivering ongoing organic growth results.

being or not being met. They need to know that their voices will be heard, and the feedback will be utilized and incorporated into the relationship through a predictable, repeatable, measurable process — one that we would call a voice of the customer (account) program.

Transactional versus relationship surveys As a strategic supplier embarks on their journey of capturing and analyzing account feedback to determine top and most relevant needs, it is important to understand

A survey is only one component of a voice

that there is a difference between types of

of the customer (VoC) program, and alone it

feedback surveys. There are two types of

“Building a good customer experience does not happen by accident. It happens by design.”

– Clare Muscutt Customer Experience Entrepreneur and founder, CMXPERIENCE

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account feedback surveys to consider: transactional and rela-

personal expectations around their role and engagement with

tionship. Both have a place and importance to any organiza-

you as a strategic supplier, specifics around their relation-

tion. Both offer unique insights that will serve their accounts/

ship with the SAM, communication preferences, and their

customers, the account team, and their organization well. The

perceived value of the relationship. Analyzing feedback at a

differences are outlined in the table below.

customer level enables personalized account action planning

An organization looking for optimal insights might con-

that will accelerate an overall positive experience.

sider executing both transactional surveys, such as pulses

Through any voice of the customer program, a strategic

(post-event or mid-year check-ins), and an annual relationship

supplier needs to address and satisfy account and customer

survey. This approach provides timely feedback to guide and

priorities and needs as reflected in the feedback captured.

adjust the strategic account relationship plan in the short term, while allowing for a more in-depth analysis of the relationship. This is truly where the value of a voice of the customer relationship feedback program lies.

Top account needs So, what do accounts need from their strategic suppliers?

Our experience and actual account relationship survey data tell us that the top five remain consistent. The top needs

The role of account and customer feedback

are listed in the table on the next page, in no specific order,

Right and actionable feedback needs to be analyzed at both

since results may vary slightly by industry, existing economic

the account and customer levels to enable organizations to be

climate, and environmental factors (causes, missions, social

impactful and agile partners. Account feedback is an aggregate

change, and priorities) of a top account.

of the information received from multiple customers (contacts)

This list is meant to serve as a summary of top account

within an account. Customer feedback is information received

feedback. It is suggested that a strategic supplier takes a deeper

from one individual within an account specific to the role

dive into the top needs as identified in their feedback to best

they serve in their organization and within your relationship.

understand the root cause of the feedback and the implications

Keep in mind that in any voice of the customer program, you want to capture the voice of all relevant influencers and

Transactional Survey

Relationship Survey

Purpose

A transactional survey captures customer feedback after a specific interaction, referred to as a touchpoint.

Obtains feedback related to the overall experience.

This includes loyalty and commitment, overall satisfaction with your organization, and general meeting/not meeting of expectations.

Frequency

As needed/as events and/or transactions occur.

Biannually or annually — sent at regular, pre-determined intervals.

Length

Less than 10 questions and under 5 minutes.

Typically, 7-10 minutes and 25-30 questions.

Sample Size

The individual(s) who experienced the transaction/ interaction.

All contacts in a customer/ account who we regularly interact with that can assess the relationship (high, wide, deep).

Provides feedback on how your organization can improve a specific touchpoint.

Identifies the drivers of customer loyalty and commitment and which areas of the relationship are meeting or exceeding expectations versus those that need improvement.

Attributes

decision-makers that represent a high, wide, and deep relationship network within your account.

Both account and customer feedback have specific purposes. Account feedback is intended to serve as a higher source of intelligence for understanding and action. Looking at an aggregate view of the account helps us to minimize the bias from any one individual response while also formulating an overall account strategy. An example of valuable account feedback is the need for more localized support. If merited, the strategic supplier may deem it necessary to provide other, more localized resource capabilities.

Customer feedback often indicates more individualized preferences or demands. Examples may include

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Impact

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51

Top Account Needs

Make it easy to do business

suppliers to appreciate that unless

Examples

any need expressed is connected to

• Minimize obstacles and relationship challenges

a priority, there will be little force

• Difficult contract/partnering terms

or emphasis behind satisfying the

• Availability, talent, and responsiveness of resources • Pricing approach (fair/competitive/simple) • Alignment of strategic direction between organizations • Who we are, vision, mission, brand, value proposition

Know and understand my business

Align right resources and solutions

Act on and deliver measurable results

Innovate — take me to the future

• Top account priorities, needs, and expectations • Account unique keys to ongoing success

need, in plain terms investing now to satisfy the need.

A sample of common drivers that influence top priorities for accounts include: • Economic conditions, goals, or

• Organization/market challenges now and in the future

failure to make goals

• Alignment of right roles/capabilities within the team

• Situational change (mergers/

• Connect solutions to needs (needs assessments)

acquisitions)

• Packaging, availability, and distribution considerations

• Structural change (organization/

• Know/quantify impact of solutions — the economics

team/leadership)

• Competitive advantages produced

• Plans for a significant need for

• Enable the account to exceed their performance goals

transformation

• Keep improving solutions — collaborate/evolve

• Market and/or competitive shifts

• Solve not yet known problems

• Launches of new products and/

• Access to thought leadership

or services • Performance standards, e.g., quality, HR

on the relationship. Knowing and keying in on this list will provide a starting point for discussions within the team and with the account. Validation of the interpretation of the feedback may be executed by a follow-on discussion with the account, often referred to as “closing the loop.” We have found that this process of taking feedback to the customer and collaborating on how to further the relationship is a must-have core practice and a critical success factor for any voice of the customer program.

• Big bang events, e.g., the pandemic The best-in-class organizations identify not only the needs but also the drivers of loyalty and execute engagement strategies that ideally include them both as actions and as key performance indicators (KPIs).

How to best gain and understand insights The good news is that we live in an era of access to endless

Gathering account feedback through a consistent and ongo-

volumes of intelligence. The challenging news is that we live

ing process will provide directional guidance to the account

in an era of endless intelligence! This takes us to another

team on the needs for their specific account and customers,

important point: to capitalize on and understand the data

ensuring that these are addressed in the strategic account

available to us, it may be wise to have an analyst on the cross-

relationship plan in a timely manner.

functional account team. Their purpose is to provide insights and interpretation of account/customer feedback. There is

Relationship drivers In traditional sales methodologies we have all been instructed to determine an account’s needs. We have been taught to ask additional questions to determine what is driving a specific need. In account management, determining the causes (drivers) of needs is becoming even more important.

Account organizations are realizing that they can only effectively address a limited number of priorities, leading strategic

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also a need to include marketing as an integral part of the team. Combining these two resources — analyst and marketing — and effectively utilizing what they can provide in the form of tools, expertise, and analytical thinking makes for a well-informed team.

The strategic account relationship plan From experience, the real purpose of a strategic account

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Overall Satisfaction Very Dissatisfied

Dissatisfied

Neither Satisfied nor Dissatisfied

Satisfied

Commitment Very Satisfied

0

1

2

relationship plan is to serve as a dynamic/living road map (subject to consistent review and updating) for cross-functional account team efforts. The team’s mission is to be focused on optimizing the relationship by delivering on the account’s most relevant and top priorities and meeting the needs that, when successfully addressed, enable the account and strategic supplier to both exceed desired outcomes. A strategic account relationship plan should be focused from the outside in, significantly influenced by account and customer feedback, versus inward-out (focused on what the team is thinking). This ensures the plan is strategic account focused and illustrates why feedback is the main and arguably the most important ingredient in the recipe for success.

As you begin building your plan, answer the question: does your strategic account relationship plan detail and prioritize all the “needs” of the account and specific customers, as stated and validated directly by their feedback? An important first step is for the cross-functional team to prioritize the needs as provided by the feedback and integrate them into the strategic knowledge section of the strategic account relationship plan. It is also advisable to adopt feedback metrics that reflect the current overall state of the relationship and can be benchmarked year over year. Examples include the overall satisfaction, commitment, and customer effort scores shown above.

Any strategy within the strategic account relationship plan must be accompanied by a supporting action plan with activities, owners, and timelines. Action plans are often most effective when supported by using RACI, a methodology for determining who is responsible, accountable, consulted, and informed for any specific actions within the initiative. This approach optimizes the plan as one with relevant strategies, supported by goals and assignment of high-value activities required to satisfy high priorities and needs of the account.

3

4

5

6

7

Customer Effort Score 8

9

10

Very Difficult

Difficult

Neither Difficult nor Easy

Easy

Very Easy

of relationships), metrics to the SAM community.

AI is and will be a resource that accelerates a deeper, more immediate dive into gaining incremental account intelligence.

The ability to create questions (AI refers to these as prompts), analyze data, or construct persuasive communications to customers within an AI tool can and will be a game changer.

Becoming more knowledgeable and skilled at the use of this emerging resource can help. It should also be used appropriately and cautiously, since to date it is not always 100% accurate.

Be agile In these times of rapid change, teams need to adapt and act fast. Being agile is becoming more a requirement than an expectation. Accounts and customers expect their strategic partners to align to their needs, make quicker decisions, and take more immediate action — i.e., close the loop and get into action now! Understanding and quantifying account needs and relationships on an ongoing basis is proving to be a key asset in determining our ability to be agile. When we have the right leading indicators (metrics) to complement our lagging indicators, we can forecast necessary changes and actions to consider so we can be ready now, and be that trusted resource.

To date we see no negative implication to being a very smart and agile account team!

Voice of customer case study (healthcare) A 15-year B2B relationship that began as a cost-savings initiative is now saving contracts.

The program A benefits management company was seeking cost savings in their VoC survey program and more actionable insights

Artificial intelligence (AI) It would be remiss to not address the emerging elephant in the room, AI. For years we have been highlighting the impor-

from their survey data. Previously, they were spending approximately $175 per survey response, which added up to hundreds of thousands of dollars annually.

tance of both lagging (revenue, products sold, servicing times)

The relationship VoC survey program is a critical compo-

and leading, or predictive (trending, degree of loyalty, strength

nent in understanding how well they are meeting client needs

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53

and expectations, and where they might be falling short. It

validate the strategic account relationship plan. Treatment of

provides valuable information for performance management

these sources of intelligence as previously indicated for survey

and action planning, and helps fulfill contract commitments

feedback will serve the team well. You may want to establish a

and performance guarantees, which, if not met, could have

team intelligence officer who ensures the team is constantly in

meaningful relationship and/or financial implications.

getting-smarter mode. Start every team planning session with

Challenges

a new fact or insight about the account or a customer within the account.

Upon the program starting, this organization had the following challenges: • Prohibitive cost of traditional VoC program • Uncertainty in accurately gauging the extent to which client needs/expectations were met • Lack of performance metrics

Transitioning knowledge into action As you have read, feedback, especially through relationshiporiented surveys, plays a key role in determining precise needs and priorities within an account. Feedback can serve different purposes within the account management process and team.

SAM is a strategy with one purpose between strategic accounts

Benefits

and strategic suppliers — to ensure the success of each party

• Improved data insights

within the partnership. This outcome becomes more attain-

• Increased engagement and accountability of account teams • I mproved client satisfaction and stronger relationships through client-driven action plans The outcomes The company’s continued relationship surveying efforts, even during significant changes, helped them stay ahead of potential issues (reducing the number of “action plan” clients) and resulted in cost savings, improved data and insights, and more satisfied clients. The survey proved to be a cost-effective tool for connecting with customers, gathering data and insights, and identifying and mitigating potential losses. The information collected sometimes highlighted blind spots, but always led to relationship improvement efforts, including use of the following approaches.

Additional sources of account intelligence There are other sources of account intelligence that we do not want to neglect. We often refer to these as “listening

able by establishing a consistent baseline of right intelligence that facilitates the relationship and enables mutual success.

The mission is to determine the voice of the customer program plan, integrate feedback into the strategic relationship plan, and take the right actions, now. If any need is determined to be driven by or connected to an account’s priority it should then be identified as a strategic priority.

There are no more important and relevant

efforts for any account team than to understand,

connect to, and address (satisfy) account strategic priorities — when and if they can!

This is the primary purpose of the strategic account relationship plan, to serve as the primary blueprint for addressing top priorities that create the win/win. It is the planning resource to document, collaborate on, understand (become smarter), align to, and develop the right action plan for creating an account partnership. Survey feedback enables plans to come alive and be relevant.

posts.” They are also great sources for gathering intelligence on accounts and customers beyond surveys. These include: • Personal interviews • Cooperative roundtables • Executive think tanks • Web research (e.g., LinkedIn) • Experience data, e.g., buying patterns, service experiences • Social media dialogues and groups These provide additional important insights to feed and

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Reaching for success There is one asset today that is often underutilized as a key guide for making right decisions: actionable account relationship feedback. Surveys do not need to be scary, warded off, or thought of as another checking of the box. They are a part of a larger strategic initiative to align to and cultivate strategic relationships.

Feedback will enable a business to be more efficient, effective, and successful (enable both accounts and strategic

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suppliers to make the numbers). Most leaders are already capturing satisfaction scores from accounts. While these inputs serve important purposes, what has evolved is a need for more holistic account relationship survey efforts.

A relationship assessment program within SAM provides fresh and actionable insights to guide leaders and their organization in validating existing facts/situations, new thinking, innovative strategies, right investments, operational excellence, and being more connected and relevant to important accounts.

Additional tips for success include: • Focus as one cross-functional team on being strategically smarter • Gain and embed direct account relationship feedback into all decision-making and planning activities • Determine the driver (what is influencing) any top priority/need(s) and overall satisfaction and loyalty • C ollaborate with and validate all conclusions through and with your customers • C onsistently follow the “win/win” recipe model of listen – learn – act

“We are what we repeatedly do.

Excellence, then, is not an act but a habit.”

– Aristotle Final thoughts

SAMA Online Training Just because you can’t travel doesn’t mean you have to stop developing your account management skills.

Your customers rely on you to help them solve their biggest business challenges. For you, that means probing them for opportunities and then marshalling your internal resources to create new, innovative solutions that solve your customers’ most pressing issues.

SAMA online courses offer the same high-quality, interactive training as our in-person SAMA Academy but at your own pace and from the comfort of your home office.

Account teams already work hard. Success today requires everyone to work smarter. Accounts and customers seek to be part of the team, the partnership. The integration of intelligence into our workstream is today’s differentiator for any SAM and their team. We created a formula for success years ago, KRV=S³ — Knowledge x Relationships x Value = Exponential Success. This implies that knowledge is a key pillar of any SAM program and team. In an era of access to extraordinary intelligence, the smartest team wins. Accounts need to be heard, and account teams need to listen…and act!

The outcome: the SAM becomes an agile partner — one who listens to the voice of the account and acts on this intelligence to guide their strategy to create more loyal, committed, and mutually beneficial relationships! n

Dennis J Chapman Sr. is CEO/President of The Chapman Group, a SAMA partner since 1996. Visit www.chapmanhq.com for more information or contact Chapman directly at dchapman@ chapmanhq.com.

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Now being offered: ✓ SAM playbook: Foundational skills for driving superior customer results ✓ Critical skills for strategic account managers ✓ Buyer’s perspective: Create, communicate and quantify value for CxO impact ✓ Capture Value Skills: A negotiations course for the complex, consensus-driven strategic sales cycle ✓ SAM2WIN: Compete online against your peers in a turbulent world For more information, please visit https://bit.ly/samaonlinetraining.

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THE PURSUIT OF STRATEGIC ACCOUNT EXCELLENCE: EVOLVING YOUR PEOPLE, PROCESS, AND PROGRAM

By Kimberlee Moon Director, Marketplace & Account Management Boehringer Ingelheim

and Steve Andersen President and Founder Performance Methods, Inc.

Improving the health and lives of humans and animals is the goal of the research-driven biopharmaceutical company Boehringer Ingelheim (Boehringer). Independently owned since its foundation in 1885, Boehringer is one of the top 20 companies worldwide in the pharmaceutical industry. More than 53,000 employees serve over 130 markets in the two business units, Human Pharma and Animal Health.

Boehringer’s US Human Pharma journey and commitment to strategic account planning and management has existed for years but was transformed in 2016. It was refined even more in 2023 as the result of an ever-changing healthcare environment and subsequent corporate organizational change to meet customer needs with additional account team structures to support the growing complexity of strategic and key customer accounts.

Boehringer realized that to be successful in achieving increased levels of customer centricity, change was needed to shift the mindsets of account managers and account team members to more strategic levels. This facilitated an introduction to the Strategic Account Management Association (SAMA).

Recognizing the importance of evolving to a “customer-first” approach to discovering areas of mutual interest with customers, Boehringer needed to implement proven processes and best practices to enhance engagement with strategic and key accounts. As a solution to these challenges, Boehringer partnered with Performance Methods, Inc. (PMI) to design, develop, and deploy a customized curriculum to drive value co-creation and account growth: Value-Focused Engagement (VFE), which is based on SAMA principles and focused on customer centricity. Over the past five years, VFE has been embedded across the organization and is considered one of the keys to the success of Boehringer’s awardwinning strategic account management (SAM) program.

Boehringer’s VFE framework is predicated upon account planning and management best practices. It provides a common language and consistent process to strategize internally about the customer, collaborate on value co-creation opportunities with the customer, and align on execution priorities. Adopting SAM behaviors and principles, and bringing them to life through consistent language, has equipped and enabled Boehringer’s account teams to evolve their relationships with key and strategic customers from vendor status to partner status, and has made a dramatic impact on how these teams work.

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“The external pressures that our health system customers are facing today have never been greater, and because of this,

including moving from an internal focus to a customer-first approach.”

it is imperative that we approach them with an account management mindset,” said Jim Cummings, Senior Key Account Manager at Boehringer. “By remaining curious and seeking to better understand their objectives and challenges, we can more quickly begin to explore areas of mutual interest, which in the end will improve patient health and outcomes.”

Executive sponsorship and support

Cross-functional account team engagement Boehringer has prioritized the engagement of cross-functional team members in the deployment of the SAM model, thus creating stronger internal account team alignment and enhanced customer value realization. By seizing the momentum provided by the organizational commitment to SAM, Boehringer account teams now have dedicated medical, mar-

Having internal champions throughout the organization

keting, legal, compliance, operations, analytical, and training

has helped keep strategic account management a priority at

teams supporting them. This type of approach requires a cus-

Boehringer. Account teams consistently leverage Executive

tomer-focused account team that understands the customer’s

Account Briefings and other account planning tools to inform

pressures, objectives, and challenges to co-create value with

and activate leadership. Based on participation in the SAMA

the customers’ stakeholders.

community, Boehringer has observed that an effective SAM program requires strong executive understanding, alignment, and engagement to overcome potential internal barriers, including investment,

Today, account planning and management at Boehringer has become a team sport, as demonstrated by the application of cross-functional talent to account teams. Stronger internal

resources, and con-

and heightened col-

flicting priorities.

To

t his

alignment

laboration are helping Boehringer

end,

account

Boehringer has main-

teams to understand

tained strong com-

customer needs more

mitment from global

quickly, resulting in

leaders and managers,

the

resulting in a will-

the customer.

expand the organizato

commitment

SAM.

of

value realization by

ingness to invest and tion’s

acceleration

solution design and

“The strength of our

Specific

account teams comes

examples of how Boehringer continues to inform and acti-

from the collective skillsets of the individual team members.

vate leadership include training, customer collaborations, and

Everyone knows the importance of their roles and the benefits

customer congresses (facilitating top-to-top engagements), as

of collaboration,” said Kerry Tuttle, Associate Director of

well as increasing SAM proficiency levels across the entire

Marketplace and Account Management Training (and former

organization.

Senior Key Account Manager) at Boehringer. “By working

“Boehringer Ingelheim has been committed to overall strategic account planning and management since attending

together as a cross-functional team, we are better positioned to align with our customers and co-create value.”

SAMA in 2013. Much like our customers, Boehringer has adapted to the ever-changing healthcare environment,” said Chris Marsh, Senior Vice President, Value and Access at Boehringer. “Over the last several years, we’ve developed our strategic account management approach as a competitive advantage by using the SAMA principles and working with PMI. This has really demonstrated a significant increase in the work that we’ve needed to do across our organization,

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Proactive coaching and review Coaching of the SAM process is essential to evolving account managers, their teams, and their plans to new levels of leadership effectiveness. Proactive SAM coaching has become embedded in Boehringer’s deployment of SAM best practices and tools in account team engagement, planning

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57

and strategizing account growth, maximizing effectiveness in

as demonstrated by the participation of senior leadership,

internal meetings, and preparing for important customer meet-

marketing, and all cross-functional team members in these

ings. SAM behaviors are included in MBOs (Management by

collaborative sessions.

Objectives) to measure SAM effectiveness, and SAM leaders coach to those behaviors and are fully engaged in all training workshops with their account teams.

SAM adoption and sustainability Ensuring strong governance, being agile, and elevating

Debbie Benyo, Value & Access Sales Director at Boehringer,

SAM processes and tools help with adoption and sustain-

emphasized the importance of coaching. “Strategic account

ability. SAMA has approved Boehringer’s Value-Focused

management for large and complex customers is a journey.

Engagement framework and account planning and manage-

Coaching our account managers across the different busi-

ment process and best practices to provide certification of

ness cycles of this dynamic journey allows those individuals

account managers, a professional designation known as CSAM

to visualize their growth across cycles when results aren’t

(Certified Strategic Account Manager). Boehringer looked

always evident,” she said. “Whether it be in how effectively

to PMI for assistance in implementing the requirements of

the team is planning with internal stakeholders, developing/expanding stakeholder relationships, identifying and navigating opportunities and risks, and proactively staying abreast of changes in market landscape, proactive coaching allows a continuum of feedback that supports and develops these leading behaviors essential to grow the team and ultimately the business.”

Boehringer’s commitment to SAM excellence has expanded to include the importance of consistent and effective account reviews, known internally as Executive Account Briefings.

CSAM certification internally to ensure there is rigor moving forward to receive and maintain this designation.

Boehringer has also created a New Account Leadership Development program that helps to facilitate participants’ mindset shift from a traditional “tactical” customer-facing role to a more strategic role. In this program, the participants deepen their understanding and application of SAM skills, concepts, tools, and best practices to better prepare them for strategic account planning, management, and review. This is helping Boehringer continue to build their “SAM bench” so

“A great example of where all of this can be witnessed

they have candidates prepared and ready to take on expanded

at Boehringer is through our ’KAM Excellence’ process,”

roles in SAM deployment. This learning journey also helps

said Dan Brandstetter, Value & Access Business Director at

them accelerate the ramp-up process and begin establishing

Boehringer. “During these collaborative sessions, account

strategic customer partnerships earlier as they begin their

managers conduct Executive Account Briefings, as demon-

SAM journey.

strated by the participation of senior leadership, marketing, and cross-functional team members. These sessions truly highlight the SAM mindset that has been established at Boehringer.”

“The creation of this program was based on an identified internal need to create the ’bench’ for future strategic account managers,” said Malaea Seleski, Assistant Director of Marketplace & Account Management at Boehringer. “Our

Today, it’s understood that “KAM Excellence” at Boehringer

program truly accelerates the skills and applied knowledge

includes conducting effective Executive Account Briefings,

needed to be an effective SAM with our customers and has

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“Boehringer Ingelheim is a strategic partner. When I meet with them, it is always very clinically

driven, and they also fill me in on or give me more perspective on contracting and other issues that also go on. It’s a variety of those different topics that we cover that make it more collaborative.”

– Medical Director, National Plan

shown that our participants are bringing value to those customers from the start.”

Third-party validation and voice of the customer Boehringer leverages insights and research from acknowledged third parties to validate and benchmark the impact of SAM on their business and customers, including Health Industries Research (HIRC), Health Strategies Insights, and Eversana. These reports help Boehringer measure customer experience and SAM effectiveness, allowing for adaptation based on evolving customer wants, needs, expectations, and preferences. Year after year, Boehringer continues to rank

SAM impact and results • Boehringer received the SAMA Excellence Award for Global Customer Centricity (2019).

• Year-over-year net sales growth has increased for strategic accounts in both the payor and health systems organizations, and success with strategic account planning and management is being recognized.

• In the HIRC Account Manager Performance reports (20212023), Boehringer continued to score high in corporate image and account management, recognizing the effectiveness of their account teams.

at the top among large pharma companies with both Market

• Over a period of just six months, one of Boehringer’s prior-

Access and Health System customers, a testament to the

ity brands received two groundbreaking FDA approvals.

effectiveness of their implementation of account management

Launch success was measured by access for their products,

processes and best practices, as well as the strength of their

which achieved 97% unencumbered access and growth in

commitment to SAM. Quotes from customers include:

care management processes (CMPs) across the health sys-

• “Boehringer Ingelheim is a strategic partner. When I meet

tems priority accounts. Within six months of launch, the

with them, it is always very clinically driven, and they also

field teams exceeded the goal of 50 CMPs, securing over

fill me in on or give me more perspective on contracting and

70. This success was a direct result of leveraging a dedicated

other issues that also go on. It’s a variety of those different

training team (Marketplace & Account Management Team)

topics that we cover that make it more collaborative.”

early in the preparation process to properly prepare account

• “Boehringer was different from other vendors in the way they

teams versus just at launch.

approached our business and their willingness to partner.”

• B oehringer received the SAMA Excellence Award for

• “Boehringer’s account manager has been a great partner. He

Outstanding Mature SAM Program of the Year (2023). n

always works to find areas where he can help us achieve our goals by aligning his resources with our needs.”

• “A unique attribute that we have found most helpful is how

Kimberlee Moon is Director of Marketplace & Account Management

our Boehringer account manager shares best practices from

at Boehringer Ingelheim. She can be contacted on LinkedIn at

across our entire system, sometimes facilitating introductions to others within the organization who are either having the same challenges or have already solved for the issues we may be facing today.”

• “You guys are getting this right!”

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Issue 2 2024

linkedin.com/in/kimberlee-moon-0b9b6b18. Steve Andersen is President and Founder of Performance Methods, Inc., which provides consulting and training services to assist clients in the design, development, and deployment of customer engagement best practices.

Steve can be contacted via email at sandersen@performancemethods. com and on LinkedIn at linkedin.com/in/steve-andersen-5442ab11.

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LEADING HIGH-PERFORMING ACCOUNT TEAMS

By Joshua Dey Senior Vice-President of Global Accounts The Summit Group

In today’s increasingly complex business landscape, the role of the strategic account manager (SAM) has evolved significantly. One notable trend is the rise of the account team. It is now widely recognized that effective strategic account management is a collaborative effort, with the SAM assuming the pivotal role of account leader.

Research conducted by SAMA highlights a common challenge faced by SAMs: working on the inside and breaking down internal silos. Interestingly, this is often perceived to be more difficult than working externally and building customer alignment. As customers grow more and more complex, relying solely on individual SAMs to deliver results is no longer sufficient and the ability to lead high-performing account teams is critical to SAM success.

Why account team leadership matters more than ever In this intricate environment, the ability to cultivate high-performing cross-functional account teams is paramount. Successful SAMs excel at leading and influencing without formal authority, setting shared goals, and fostering a sense of purpose among team members. They leverage insights from all stakeholders to drive innovative, strategic decisionmaking and communicate effectively internally. Leading from the middle, rather than the top, and focusing on building networks that enable connectedness and foster engagement based on shared purpose are the critical success factors for SAM leaders in today’s environment.

At a broader scale, the shift towards greater collaboration is fueled by both generational and organizational trends that are redefining traditional work approaches. Established hierarchical structures, with clear levels of authority, are being challenged by emerging generations and technological innovation enabling the rapid sharing of information, but also the exponential increase in the amount of accessible information. Moreover, corporations are swiftly embracing matrixed organizational frameworks, recognizing that traditional command-and-control management approaches lack the agility needed to address emerging complexities. Even the military has abandoned strict top-down approaches to leadership, acknowledging that the complexity of today’s environment requires higher levels of autonomy and greater empowerment.¹

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61

All these factors are converging to render the role of the

on our perception of what the customer seeks. SAMs who

SAM as an account team leader increasingly challenging.

fall victim to this assumption frequently experience profound

Not only are they expected to lead high-performing account

frustration, as their purported advocacy for the customer

teams, but they are also often tasked with doing so amidst

appears to fall on deaf ears internally.

shifting traditional models of teamwork, escalating customer expectations, and operating within a volatile, uncertain, and ambiguous environment.

Evolving customer expectations Customer expectations of account teams have evolved significantly in recent years. Beyond merely providing prod-

Another common cause of account team breakdown is the misunderstanding of what it means to influence without authority. While manipulation involves getting people to do what we want without telling them, influencing without authority entails aligning ourselves with others’ motivations, aligning ourselves with their interests, and co-creating the strategy, plan, and actions to advance the account opportunity and elevate customer relationships.

ucts or services, customers now

When we mistakenly attempt to

demand personalized attention,

manipulate others to comply with

proactive problem-solving, and

our desires, it not only creates

strategic guidance tailored to their

internal misalignment but also

unique needs and challenges.

erodes trust, ultimately undermin-

They expect account teams to

ing the overarching goals of the

demonstrate a deep understand-

account team.

ing of their business objectives, industry trends, and competitive

The perception that certain

landscape. Moreover, customers

individuals are inherently team

anticipate prompt responsive-

players by nature can also pose

ness, seamless communication,

challenges within account teams.

and a seamless experience across

The mistaken belief that some peo-

all touchpoints. As such, account

ple are naturally adept at collabo-

teams must continuously adapt and

rating with the team, contributing

innovate to meet these heightened

to group efforts, and prioritizing

expectations, fostering strong rela-

team goals over personal interests

tionships built on trust, transpar-

can lead SAMs to overlook or

ency, and value delivery. Despite

marginalize stakeholders who may

this compelling call to action from

not exhibit these traits. However,

customers, internal organizations can seem to be more misaligned than ever, as the demands of day-to-day activities continue to increase.

effective account team leadership necessitates more than just aligning with the team members we are associated with; it also entails collaborating with the resources required to deliver on behalf of the customer. While

Sources of misalignment The last several years of working with SAM account leaders across the SAMA community have revealed several sources of

character labels like “not a team player” or “not on the bus” might provide temporary relief, they seldom foster the alignment we strive for.

misalignment. One common source is what we often refer to

The belief that the SAM — based on experience, seniority,

as “the assumption of internal alignment.” It’s the mistaken

and/or engagement with the C-suite — should have all the

belief that simply because we work for the same company, we

answers can foster complacency, closed-mindedness, and a

inherently pursue the same outcomes. It’s easy to fall into the

reluctance to consider alternative perspectives or solutions.

trap of assuming that shared corporate affiliation means iden-

This mindset can hinder collaboration and innovation within

tical motivations, particularly concerning customer priorities.

the team, limiting the exploration of new ideas or approaches.

However, this erroneous assumption can lead us to try to

Moreover, it overlooks the complexity and dynamic nature of

coerce our internal stakeholders into conformity, based solely

customer situations, where multiple viewpoints and solutions

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may be essential for effective problem-solving and

Complicated

Complex

Independence

Interdependence

decision-making. Overall, this belief can be constraining and counterproductive, undermining the

Information

team’s ability to adapt and thrive in evolving environments.

After years of collaboration with SAM leaders and strategic account teams, it’s evident that a significant source of misalignment is the “knowing-doing gap.”

To accomplish this shift, the focus needs to transition from

While many are well-acquainted with the characteristics of

leading from above to leading from the middle. Instead of hier-

a strong team and comprehend the behaviors associated with

archical leadership structures that emphasize directives and

it, there often remains a disconnect between understand-

information flows from top to bottom, leading from the middle

ing these principles and effectively implementing them. We

involves fostering collaboration and influence across all levels

all acknowledge the essential descriptors of high-performing

of the organization. It requires the SAM to see themselves as

teams: trust, communication, connection, shared goals, and

gatherers of information rather than hunters, empowering

purpose among others. However, the bias towards action

team members, facilitating dialogue and insight sharing, and

prevalent in account management often leads us to overlook

building strong horizontal relationships within the organi-

crucial steps in team building and alignment.

zation. This approach encourages shared responsibility and collective problem-solving.

Overcoming misalignment — from independence to interdependence To overcome this misalignment and build high-performing account teams, successful SAMs focus on developing the essential skillsets and mindsets that distinguish and differentiate teams that consistently win with customers. This involves particular attention to how they handle information and insights within the team, manage conflicting interests, and influence team decision-making and performance in competitive and time-critical situations.

When faced with complicated problems, the role of the leader is to break the problem down into its component parts, each of which are independent. In a complex world, the density of interconnected variables increases exponentially and

In a matrixed environment the SAM is not just the leader of the account team, but a hub in a vast ecosystem of interconnected stakeholders and teams. Effectively engaging customers on their terms and delivering real-time, relevant capabilities demands that the SAM leverage their extensive network to assemble the appropriate team at the right moment. The focus shifts from managing the parts of the network to managing the connections. This networked approach is pivotal for cultivating and guiding agile teams capable of flexibility and rapid adaptation to evolving customer expectations, market dynamics, and internal strategies.

Overcoming misalignment — distinguishing SAM skillset

the focus becomes on the connections between the variables.

At The Summit Group, we have identified several core

Given that we know that decision-making in organizations has

skills essential for the SAM to overcome misalignment and

expanded to 15+ stakeholders, if we consider all of the possible

foster high-performing teams. These skills empower SAMs

interactions between the customer and ourselves with a team

to cultivate teams that not only win and expand customer

of five, we end up with 190 possible connections. However,

mindshare but also innovate to address business challenges

attempting to dissect this problem leads to infinite regress.

creatively. Additionally, they facilitate the development of

The most crucial mindset shift for SAMs is to recognize

shared goals and purpose among team members and pro-

the transition from independence to interdependence.

mote collaborative sharing of insights, ultimately enhancing

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63

Bottleneck

strategic decision-making capabilities.

Capabilities

Account Team

Customer

SAM

Customer

Internal Team

Strategic Direction

Mirror Team

realistic goals that resonate with both internal objectives and external expectations. This not only promotes unity within

Diagnosing team performance Assessing the current level of performance in an honest and transparent manner is the first step towards elevating team performance. If you don’t know where you are, you won’t know how to get where you are going. SAM leaders need

the team but also enhances overall performance by ensuring that efforts are directed towards outcomes that truly matter to the customer stakeholders that matter.

Building the team — in the team vs. on the team

to foster the collective introspection of the team, encourag-

Building a cohesive account team is not merely about assem-

ing reflection on strengths, weaknesses, team dynamics, and

bling individuals, it’s about ensuring that each team member

overall performance.

feels a sense of belonging and contribution — that they are

The capacity to identify gaps in team performance is a vital skill that empowers SAMs and SAM account teams to tackle significant issues pertaining to team unity. Leaders adept at identifying key drivers to amplify account team performance

truly “in” the team and not just “on” it. When individuals feel genuinely invested in the team’s goals and each other’s success, they are more likely to collaborate effectively, innovate, and achieve remarkable results together.

foster stronger cohesion within the team. In the SAMA cur-

By aligning around the shared goals and purpose of the

riculum, the “Leading High Performing Account Teams”

team — from the outside in — account teams can align on

workshop focuses on honing the ability to diagnose team

the capabilities, strengths, and unique differentiators that are

performance using a proprietary diagnostic tool. However,

required to deliver on the customer’s goals. Using the capa-

the essential capability lies in leading and facilitating team

bilities as the driver to determine the right stakeholders at the

dialogues to uncover barriers to performance, especially for

customer, and then matching internal stakeholders with their

SAMs who lead from the middle.

counterparts, allows account teams to play to their individual strengths, engage with greater agility, and leverage the scale of

Building shared team goals Utilizing an “outside-in” approach to develop shared team goals involves looking at objectives from the perspective of customers, and their customers. By adopting this perspective, teams can align their goals with the needs and expectations of those they serve, fostering a customer-centric mindset. This approach encourages teams to prioritize outcomes that are relevant and valuable to the customer and use a shared understanding of the customer’s goals as the pivot point for alignment, rather than trying to align on differing internal goals.

Team members leverage external insights to set ambitious yet

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the team to deepen the customer relationship.

In this mirror team model, the SAM transitions from being the focal point of the customer relationship to being a facilitator, aligning customer goals with organizational capabilities that have the most significant impact on the customer’s strategic direction. The clarity offered by the mirror team model ensures that team members comprehend their distinct roles, the capabilities they contribute to the team, and their influence on the customer’s objectives, fostering a genuine sense of being fully integrated within the team, or “in” the team versus just “on” the team.

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Developing team discipline The three disciplines of account teaming — purpose, process, and progress — are essential pillars for elevating team performance, regardless of where the team is, whether underperforming or high performing.

Purpose underscores the importance of infusing the team’s objectives with meaning. It involves defining a clear mission and ensuring that every member understands their role in achieving it. Process entails establishing for each team streamlined workflows, communication protocols, meeting cadence, and decision-making frameworks to facilitate seamless collaboration and maximize efficiency. It’s important to note that team processes are unique to each team and reflect the personal communication styles of each team member.

One common pitfall we encounter with account teams

collective intelligence of the team, sharing insights becomes a

is a focus on the tactics of communication rather than the

catalyst for driving positive change, enabling customer-driven

purpose. We prioritize the idea of establishing one-on-ones,

growth, and achieving remarkable results.

quarterly reviews, and schedules ahead of the intent. Effective strategic account managers begin with the “why” behind the cadence and communication, empowering the team to determine when and how best to communicate to achieve their goals and purpose.

Communicating — ask vs. tell Effective team communication is anchored in an “ask, don’t tell” approach or coaching style, which emphasizes collaboration, empowerment, and active engagement among team

Lastly, progress focuses on monitoring and evaluating the

members. In this communication paradigm, instead of dic-

team’s performance, tracking key metrics, and adjusting strat-

tating instructions or solutions, team leaders and members

egies as needed to stay on course towards objectives. Regular

encourage open dialogue, inquiry, and exploration of ideas.

assessments allow for identifying areas of improvement and celebrating successes along the way. By adhering to these disciplines, account teams can enhance their effectiveness, optimize their performance, and deliver value to both clients and the organization.

Shared insight and innovation When teams actively share insights, it creates a fertile ground for innovation to flourish. By fostering an environ-

By asking thought-provoking questions, actively listening, and providing guidance rather than directives, team communication becomes a dynamic exchange of perspectives and insights. This approach not only enables a culture of trust and respect but also encourages team members to take ownership of their actions, develop critical thinking skills, and contribute to problem-solving collectively. As a result, team communication becomes a powerful tool for building cohesive teams, driving innovation, and achieving shared goals.

ment of open communication and collaboration, team members can leverage their diverse perspectives and expertise to generate new ideas and approaches.

Execution The final skill demonstrated by SAM leaders is the ability

Sharing insights allows individuals to build upon each

to transition the team from ideas to execution. By guiding

other’s knowledge, challenge assumptions, and explore

the team through sharing insights and solutions to customer

unconventional solutions to complex problems. Moreover, it

challenges, setting goals and defining purpose, and develop-

promotes a culture of continuous learning and improvement,

ing team unity, the SAM must empower the team to take

where experimentation and creative thinking are encouraged.

action. Striking the right balance between generating ideas

As teams collaborate and exchange insights, they can identify

and implementing them is crucial for SAM success, avoiding

patterns, anticipate trends, and seize opportunities that lead

both an inclination towards action that stifles idea sharing

to breakthrough innovations. Ultimately, by harnessing the

and the difficulty of advancing in ambiguous and uncertain

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environments. In today’s complex landscape, teams must

effective ways of collaboration.

forge ahead and make strategic decisions even with incomplete information. The role of the SAM is to gather as much insight as possible with the team to ensure progress towards its goals, improve team decision-making, and foster a culture of continuous learning.

Celebrate and elevate team performance

The future of SAM is account team leadership The future trajectory of SAM hinges on its evolution towards more advanced levels of team leadership and higher and higher levels of team performance. Central to this evolution is the capacity to galvanize account teams, ensuring they effectively deliver on customers’ needs while possessing a profound grasp

High-performing teams prioritize celebrating both the sig-

of customer business objectives, industry trends, and the

nificant achievements and the smaller victories along the way.

competitive landscape. It’s about leveraging these insights to

However, it’s all too common for teams to overlook their own

provide solutions that are not just relevant but also distinctive.

accomplishments and neglect to acknowledge and celebrate success. By acknowledging and celebrating successes, teams not only boost morale but also foster a culture of appreciation and recognition. This, in turn, encourages continued high performance and reinforces the team’s commitment to achieving its goals. Therefore, it’s essential for teams, and SAM account leaders, to make a concerted effort to recognize and celebrate both big and small wins to maintain momentum and drive success.

Perhaps one of the defining characteristics of high-performing teams is the perpetual quest to get better. Continuously building upon successes and setbacks, these teams actively pursue growth and learning, both in the pursuit of goals

Critical to successful SAM execution is the ability to lead from within, fostering dialogue, nurturing team creativity, and promoting collective problem-solving. This leadership style is poised to remain a pivotal distinguishing factor for SAMs, SAM leaders, and SAM programs going forward.

The development of account leadership has never been more imperative for SAMs. Ultimately, it’s what our customers expect, and it’s what our teams rightfully deserve. n ¹ Fussel, Chris (2015). Why Special Ops Stopped Relying So Much on Top-Down Leadership. Harvard Business Review. Retrieved from https://hbr.org/2015/05/why-special-ops-stopped-relying-somuch-on-top-down-leadership

and in refining their teamwork dynamics. The role of the SAM is to lead this introspection and guide teams towards continuous improvement, even when teams are working at high levels. The principles outlined above are as relevant for high-performing teams seeking the next level of performance as they are for teams that are struggling to find cohesion and

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Joshua Dey is Senior Vice-President of Global Accounts at The Summit Group and facilitates the “Leading High Performing Account Teams” program as part of the SAM curriculum at SAMA, as well as several other core SAMA programs as a distinguished member of the SAMA faculty.

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COMPELLING COMMUNICATION WITH THE C-SUITE

By Jeff Cochran Partner Shapiro Negotiations Institute (SNI)

When you speak to the C-suite, you’re rubbing elbows with the decision-makers shaping an entire company’s present and future. These are the bigwigs and movers and shakers. In other words, it isn’t exactly small talk over coffee or pizza. It’s your moment to shine, spark change, and etch your mark in the corridors of power. It’s less about being another face in the boardroom and more about demonstrating that you’re the breath of fresh air they’ve been waiting for, armed with insights, passion, and a perspective that cuts through the noise.

But let’s be honest; catching the attention of these corporate giants is no small feat.

Their calendars are a jigsaw puzzle of commitments, and making your words stick requires more than just a well-timed pitch. You’re playing in the big leagues now, where the impact of your message hinges on the finesse of your delivery. It’s about crafting a narrative that not only captures their imagination but also cements your position as the go-to advisor, the one who turns insights into action. Here, it’s all about the art of conversation — making every word count.

Building credibility with C-suite executives Establishing credibility with C-suite executives is like laying a solid foundation for a building; without it, your efforts to communicate and influence are likely to crumble. As the business climate constantly evolves, so does the significance of earning the trust and respect of these top-tier leaders. Yet, achieving this level of trust is no small feat, nor does it happen overnight. You must prove yourself and demonstrate a mastery of your field, a visionary outlook, and a deep understanding of what drives these corporate leaders.

Demonstrating thought leadership Stepping into the role of a thought leader means you’re not just part of the conversation but leading it. With an in-depth understanding and expertise in your

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priorities and objectives, and you need to tai-

First and foremost, these leaders care about growth — growth that’s not just about getting bigger but more intelligent and innovative.

lor your communication to resonate with each one uniquely. The CEO is concerned with the company’s overall direction; the CFO focuses on financial health; the CMO looks at the market presence and brand image; and so on.

But remember that this is all for the customers. C-suite leaders know that, at the end of the day, it’s all about delivering something so great that customers keep returning for more.

This shared goal of winning over customers ties every decision back to why businesses exist in the first place. So, understanding and

field, you become an influencer and authority figure C-suite

embracing this focus can make you invaluable.

executives turn to for guidance and insights. It’s about seeing the trends before they hit the mainstream, offering a glimpse into the future many miss, and providing expertise and foresight for executives hungry to keep their sharp edge in a competitive market.

Yet beyond spotting trends, your value as a thought leader involves translating them into actionable insights and breaking down complex ideas into clear, actionable advice. Doing so builds trust, especially in a world diluted and saturated with subpar, lower-quality content.

The numbers add further context: • According to Edelman, 51% of C-suite executives devote more

Preparing for C-suite interactions When you gear up to engage with C-suite executives, it’s no different than a performer going through a detailed rehearsal.

Every detail counts before stepping into the spotlight. In the case of C-suite interactions, a deep dive into research lays the groundwork, arming you with insights into the executives’ roles, the strategic ambitions driving the company, and the industry in which they operate. You need to craft your message to resonate with their frequency and highlight the relevance and value you bring to their table in a language that echoes their priorities and challenges.

time than ever to consuming thought leadership content.¹ • 54% of decision-makers spend more than one hour weekly reading and reviewing thought leadership pieces.

• 50% of executives admit that high-quality thought leadership sways their decisions, especially in challenging times.²

Getting into the minds of C-suite executives: what really matters

Knowing your audience When crafting a message that needs to hit home with the top brass, knowing whether they lean towards concrete data or compelling narratives can change the game. Not all C-suite executives are the same, and they will have different communication preferences. You should know what their preferences are before that first email, meeting, or Zoom call. C-suite

Before interacting with the C-suite, ask yourself, “What

executives are busy people, so you need to knock your message

will I say, and why should they care?” Your communication

out of the park from day one and tailor your communication to

should get on their level and zero in on what matters most to

address their specific needs and interests.

them: company growth, specific executive roles, and customer satisfaction.

For instance, if some prefer email communication and cold hard facts for business insights and news, pack your message

First and foremost, these leaders care about growth — growth

with solid data and relevant metrics to make it stick. For

that’s not just about getting bigger but more intelligent and

others who prefer short, sweet, visual social media content, a

innovative. Whether it’s breaking into new markets or creating the next must-have product, their eyes are always on the future.

But here’s the thing: each C-suite member has their own

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more narrative, engaging style with a hook could capture their attention more. It’s this blend of understanding and adaptation that turns your message from noise into notable.

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Strategic use of language and listening Clear, jargon-free language is your best friend in conversa-

your ability to collaborate and value diverse insights shines, and you’ve got a winning combo.

tions with C-suite leaders. Be precise, concise, and relevant, and balance the proper formality. Be professional yet personalized to match the executive’s vibe and the company’s culture. The Harvard Business Review’s analysis of nearly 5,000 C-suite job descriptions adds context and reveals a growing appetite for leaders who demonstrate social skills and communicate complex ideas simply and effectively.³

Adapting communication styles Mastering communication with C-suite executives mirrors the strategic depth of a chess game. Every move demands keen observation and adaptability. It doesn’t matter whether you’re advancing with the straightforward assertiveness preferred by 75.3% of professionals or shifting tactics to accommo-

Active listening elevates this dialogue, turning exchanges

date more detailed discussions. Like a chess player who reads

into opportunities for a deeper connection. It’s about more

their opponent’s strategy and adjusts accordingly, you, too,

than just hearing words; it’s about proper body language and

must gauge the preferences and reactions of your audience.

showing you’re engaged and understanding the essence of

Knowing when to push forward with confidence, a trait seen

their message. With 46% of chief communications officers now reporting directly to CEOs, the importance of being an adept communicator and listener has never been more valued.⁴ And when responding? It’s about respect, thoughtfulness, offering constructive feedback, and acknowledging their viewpoint while sharing your insights. Such an approach communicates, connects, and paves the way for a relationship founded on mutual respect and understanding.

Gaining insights from other stakeholders From soft skills to adaptability, the high-energy world of the C-suite also relies on insights from other stakeholders. Let’s explore how using these skills to your advantage transforms every boardroom encounter into an opportunity

in 51.8% of professionals, or when to pause and consider your next move, reflecting the approach of 64% who speak up after careful thought, becomes your play to maintain control of the board.⁵ It’s all about playing the game with an awareness that every decision has its impact. With global employers valuing communication as one of the top skills, your ability to adapt and read the “game” effectively enhances your influence and advances your standing.

Putting it all together: actionable steps for effective C-suite communication Finally, mastering the art of communication with C-suite

for impact and connection where your message isn’t just heard but resonates.

Leveraging soft skills Imagine walking into a room filled with C-suite executives, your heart pounding, ready to pitch your big idea. Your enthusiasm lights up the room first, showing you’re not just another face in the crowd but someone with a burning passion for what you do. This energy is infectious, making everyone sit up and listen, transforming a routine meeting into an engaging dialogue. Layer this enthusiasm with professionalism — your golden ticket to gaining respect and trust in these highstakes interactions. It’s about showing up not just physically but with integrity, responsibility, and a deep respect for the time and roles of those executives. Pair this with the magic of teamwork, where

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Successfully engaging with top executives demands more than just knowledge; it requires a keen understanding of their priorities, the ability to demonstrate thought leadership, and the soft skills to connect on a human level.

executives is both a science and an art. Here are five key

(AI) is making waves these days, but at the end of the day, we

strategies to make every interaction count:

are human beings communicating with other human beings.

• Highlight the impact: Always connect your message to

You can take this piece as a step-by-step guide to strengthen

the broader company impact. Clearly delineate risks and

your C-suite communication skills. But at the end of the day, if

rewards and make life easier on the C-suite by clearly pre-

you want to get all you can out of this piece, take it as a call to

senting the stakes involved.

enhance your communication strategy in your everyday life so

• Speak their language: Dive deep into industry knowledge and align your communications with the company’s strategic goals.

• Choose the right moment: Timing is everything. Most executives prefer to receive important information in dedicated briefings, so make sure your communication is welltimed and contextually appropriate to capture their full attention.

• Be clear and concise: Keep your messages sharp and to the point. Given that executives favor brevity, crafting succinct and insightful messages will hold their attention and ensure your points are well-received.

that your interactions are heard and impactful, foster mutual respect, and drive business success. You may surprise yourself with the tangible results. n ¹h ttps://www.edelman.com/sites/g/files/aatuss191/files/202109/2021_EdelmanLinkedIn_B2B_ThoughtLeadershipImpact.pdf ²h ttps://www.edelman.com/expertise/Business-Marketing/2022b2b-thought-leadership-impact-report ³h ttps://hbr.org/2022/07/the-c-suite-skills-that-matter-most ⁴h ttps://www.edelman.com/expertise/commstech/2021-Future-ofCorporate-Comms-Research ⁵ https://www.niagarainstitute.com/blog/workplace-communication-statistics

• Prepare thoroughly: Invest time in preparation and prac-

⁶h ttps://www.bloomberg.com/news/articles/2022-09-26/are-

tice. With Bloomberg revealing that useless meetings cost

meetings-a-waste-of-time-pointless-plans-cost-big-companies-

big companies $100 million a year, be sure you make your

100m?embedded-checkout=true

time count by thoroughly preparing.⁶ Jeff Cochran is an award-winning speaker, trainer, and author

Elevate your influence: inside and outside the boardroom

As a partner at Shapiro Negotiations Institute (SNI), he specializes in providing negotiation coaching and training across various sectors

The essence of influential and impactful C-suite com-

globally, benefiting tens of thousands of professionals from over 20

munication boils down to a strategic, insightful approach.

countries across six continents at corporations such as Sherwin-

Successfully engaging with top executives demands more than just knowledge; it requires a keen understanding of their priorities, the ability to demonstrate thought leadership, and the soft skills to connect on a human level. Artificial intelligence

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renowned for his expertise in the areas of negotiation and influencing.

Ve l o c i t y ®

Williams, Ecolab, PwC, Novo Nordisk, Bank of America, and many more. Prior to joining SNI, Jeff was an account manager and sales trainer at TESSCO and in the Peace Corps in Nepal, where he worked on micro-lending projects. Connect with Jeff on LinkedIn at www. linkedin.com/in/jeffcochran.

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KEY ACCOUNT MANAGEMENT PLATFORM

IMPROVE RESULTS WITH KEY ACCOUNTS Quickly bring your disparate processes, frameworks, teams, tools, decks, and datasets, all of them, into one cohesive platform.

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THE POWER OF THE VOICE OF YOUR CUSTOMER How a cohesive strategy will shape organizational success

By Gordon Galzerano Cofounder and Managing Partner Timberwilde Consulting Group

More than ever, organizations must constantly look for ways to set themselves apart from the competition to achieve success. One often-overlooked method for achieving this is by embedding the voice of the customer (VoC) into the fabric of the organization. By actively listening to and acting on customer feedback, businesses can better understand their customers’ needs, improve their products and services, and ultimately drive success.

The importance of embedding the voice of the customer into an organization can-

“The voice of the customer has been the compass that has guided our organization towards delivering products and services that truly meet the needs and expectations of our customers. Understanding their feedback and insights has been foundational in our success.”

- Chuck Robbins Chairman and CEO, Cisco

not be overstated. As the very people for whom products and services are created, customers are in the best position to provide valuable insights into what works and what doesn’t. Their feedback can help businesses identify areas for improvement, understand customer pain points, and develop products and services that better meet customer needs.

In today’s digitally connected world, customers have more ways than ever to voice their opinions. From social media to online reviews and customer surveys, there are numerous channels through which customers can share their thoughts and feedback.

As a result, businesses have a wealth of information at their fingertips that can be used to inform decision-making and drive innovation. With the rise of social media and online platforms, customers now have the power to influence and shape the reputation of a brand.

Harnessing the voice of the customer — the impacts By actively engaging with and listening to customer feedback, businesses can gain a deeper understanding of their customers’ needs and preferences. This can help businesses to better tailor their products and services to meet those needs, ultimately leading to greater customer satisfaction and loyalty.

There are several other areas where organizations can see an impact as follows:

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Creating competitive differentiation: In a crowded marketplace, businesses that actively listen to and act on customer feedback are better positioned to understand and meet customer needs. This can help businesses to differentiate themselves from the competition and carve out a unique position in the market.

How business-to-business (B2B) customer behavior is changing Over time, there has been a significant increased reliance on digital channels. More than ever, B2B customers are increasingly using digital channels for research, purchasing, and communication with suppliers. This shift towards digital is driven by the need for convenience, efficiency, and access to a wider range of suppliers and products.

As a result, the demand for personalized and streamlined experiences has increased. B2B customers are seeking more personalized and streamlined experiences, like what they experience in the business-to-consumer environment. They expect suppliers to understand their specific needs and preferences, and to provide tailored solutions and services. In addition, there is an increased emphasis on value and ROI. Identifying potential areas of innovation: By understanding customer pain points and unmet needs, businesses can develop new products and services that fill those gaps in the market. This can lead to new revenue streams and help businesses to stay relevant and competitive in a rapidly changing marketplace.

Improving overall customer experience: By understanding customer pain points and preferences, businesses can make strategic changes that enhance the overall customer experience. This can include everything from streamlining processes to developing new features or services that better meet customer needs.

They are looking for suppliers who can provide innovative and cost-effective solutions that deliver tangible business results.

Often, their buying decisions will be based on tangible use case examples that demonstrate where the supplier has proven the business results with other customers, including lessons learned and potential pitfalls to avoid.

Lastly, another key change in B2B customer behavior centers around sustainability and ethical considerations when making purchasing decisions. They are looking for suppliers who can demonstrate a commitment to environmental and social responsibility. Given a heightened awareness of the environmental and social impact of their purchases, they expect businesses to prioritize these initiatives.

Improving reputation and credibility: Customers are more likely to view businesses favorably when they see that their feedback is taken seriously and acted upon. This can help to build trust and loyalty, ultimately leading to a stronger brand and greater customer retention.

Taking an outside-in approach An outside-in approach to customer engagement means that organizations prioritize the needs and wants of their customers, rather than relying solely on their own internal objectives

Driving profitable growth: By understanding customer

and strategies. By placing the customer at the center of their

needs and preferences, businesses can develop targeted mar-

decision-making processes, organizations can better under-

keting strategies that better resonate with their target audi-

stand what drives customer satisfaction and loyalty.

ence. This can help to attract new customers and increase

The critical success factor for an outside-in approach requires

market share, ultimately driving profitable business growth

organizations to continually adapt and evolve their strategies in

and success.

response to changing customer preferences. This means being

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Collect Structured Feedback

Surveys

Advisory Boards

Interviews

Social media monitoring

Send out surveys to customers to get quantitative feedback

Implement advisory discussions to get qualitative feedback from a small set of customers

Conduct one-on-one interviews to get in-depth qualitative feedback

Monitor social media channels to gather unsolicited feedback

Using a combination of these methods allows both quantitative and qualitative customer feedback to be gathered through multiple channels.

flexible and open to new ideas and feedback, rather than being

experience. Additionally, it’s important to consider the

rigid and sticking to predetermined plans. By staying attuned

unique requirements and communication channels of B2B

to the ever-changing needs and expectations of their custom-

customers when implementing survey methods.

ers, organizations can maintain a competitive edge and remain relevant in the marketplace.

In addition, an outside-in approach also emphasizes the importance of building strong relationships with customers. This involves more than just providing good products or services; it also involves creating meaningful and personalized experiences for customers. By understanding their customers’ needs and interests, organizations can tailor their offerings and communications to resonate with their audience. This can lead to increased customer loyalty and retention, as well as positive word-of-mouth referrals.

In today’s digital age, customers have more options than ever before, and their loyalty can be easily swayed by a negative experience or lack of engagement. By taking an outsidein approach, organizations can better position themselves to meet the demands of their customers and build long-term, mutually beneficial relationships.

Impactful methods for building a voice-of-thecustomer strategy

• Advisory boards: These boards typically consist of a select group of customers who provide advice, guidance, and feedback on the company’s products, services, and overall strategy. Ultimately, the best form of B2B customer advisory board will depend on the specific needs and dynamics of the company and its key customers. It’s important to establish clear objectives for the advisory board, ensure a diverse representation of customers, and actively engage members in meaningful discussions and collaboration. This can help drive valuable insights, foster stronger customer relationships, and inform strategic decision-making.

• C ustomer interviews: Ideally, B2B customer interviews are those that allow for in-depth, meaningful conversations with key customers, helping companies gain valuable insights into their needs, challenges, and preferences.

• Social media communications: A powerful way to actively engage with your audience is by responding to comments, messages, and mentions. This shows that you are listening to and value their feedback, which can ultimately strengthen your relationship with your customers. In addition, effectively monitoring the social media activities of your com-

• Customer surveys: The best forms of customer surveys are

petitors is a way to gain insights into their customer interac-

typically those that are tailored to the specific needs and

tions and competitive positioning. This can help you identify

preferences of B2B customers. When designing surveys,

potential areas for improvement in your own social media

it’s essential to ensure that the questions are relevant, are

strategy. Lastly, make sure you follow through and track the

impactful, and provide actionable insights that can drive

impact of your social media efforts on customer satisfaction,

improvements in the company’s offerings and customer

brand sentiment, and overall business performance. This

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Key Takeaways

Listen to your customers Take action on insights Conduct surveys, interviews, and focus groups to understand customer needs and pain points

Use insights from customer feedback to guide product development and improvements

Measure impact

Repeat process

Track metrics to evaluate the impact of changes based on customer feedback

Continuously collect customer feedback and iterate to ensure you are meeting evolving needs

Following this cyclical process of listening, acting, measuring, and repeating will enable you to truly build products and services that meet customer needs.

will help you identify areas for improvement and measure the

and services, and ultimately have a positive impact on the

ROI of your social media initiatives.

overall customer experience.

Case studies of organizations that deployed successful VoC strategies

Conclusion

• Salesforce: The cloud-based software company has built its

tional success because it allows businesses to understand and

business on customer relationship management (CRM) tools,

meet the needs and preferences of their customers. By actively

and they also actively leverage customer feedback to continu-

seeking and analyzing customer feedback, organizations can

ously improve their products and services. By listening to

gain valuable insights into customer satisfaction, preferences,

their B2B customers, Salesforce has been able to refine their

and pain points, which can then be used to improve products,

offerings and address pain points more effectively.

services, and customer experiences.

A voice-of-the-customer strategy is essential for organiza-

• HubSpot: The marketing and sales software company places

Furthermore, by consistently listening to and acting on cus-

a strong emphasis on customer feedback to guide product

tomer feedback, companies can also gain a competitive edge by

development and enhancements. By actively engaging with

staying ahead of changing market trends and customer expec-

B2B customers through surveys, user groups, and feedback

tations. Additionally, a VoC strategy fosters a customer-centric

forums, HubSpot has been able to refine its platform to better

culture within an organization, which can lead to improved

align with customer needs and fuel growth.

employee morale and performance. By putting the customer

• IBM: The multinational technology company actively gathers feedback from its B2B customers to enhance its enterprise solutions and services. By using customer insights, IBM has been able to improve its offerings and maintain a customercentric approach in its business strategies.

• SAP: The enterprise software company listens to its B2B customers to understand their pain points and needs, which helps inform the development of new solutions and enhance-

at the center of business decisions, organizations can develop a stronger sense of accountability and drive for delivering highquality products and services.

Ultimately, a VoC strategy is essential for organizational success as it helps businesses to gain a deeper understanding of their customers, improve their products and services, and drive customer loyalty and satisfaction — all of which are critical factors for long-term business growth. n

ments to existing products. By actively seeking and incorporating customer feedback, SAP has been able to continually provide value to its B2B clients and stay ahead in the industry.

These B2B organizations demonstrate how leveraging the voice of the customer can drive innovation, improve products

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Gordon Galzerano is the Cofounder and Managing Partner of Timberwilde Consulting Group, a boutique B2B consulting practice that focuses on strategic customer engagement and voice-of-thecustomer (VoC) programs. Gordon can be reached at 919-208-3416 or at Gordon@timberwildeconsulting.com.

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CALL FORV ELOC I TY SUBMISSIONS FOR 2024 AND BEYOND Why Submit an Article?

Velocity is the official publication of SAMA. It provides a forum for the exchange of information relating to the practice of strategic account management and is the vehicle that enables SAMA members to be the best community of practice.

Thousands of account professionals, SAM managers, and C-level executives at the world’s largest and most forward-thinking companies read Velocity to learn about best practices and next practices from professionals who are facing the same challenges they are.

By having an article published in Velocity, you’ll be recognized as having expertise on the topic, and you’ll elevate your visibility within the community and your own organization. Your organization will benefit by having its name brought to the attention of the wider community as a thought leader.

But you’re not a writer, you say? Not a problem. Your professional knowledge is more important than your writing skills.

The SAMA editorial staff can help with grammar, organization, and style. If you can write a business letter, you can author an article.

If your firm has a public relations, marketing, or communications department, they may be able to help you document your knowledge and experience. Do make sure, though, that you provide them with in-depth information and that you review their documentation of your knowledge and experience for accuracy and to ensure it meets the article requirements below.

Case Studies Case studies are particularly welcomed, answering the questions and following the format of: • what was the issue; • w hat were the steps taken to address the issue; • what resulted for the SAM, the SAM’s

organization, and that of the SAM’s clients?

Article Requirements Articles must be directly applicable to strategic account management (not just sales). It helps to keep in mind that SAMA’s audience consists of those who work in complex, highly matrixed organizations and focus on building strong and mutually beneficial relationships with a company’s most important customers and partners.

Articles must avoid directly promoting a product or service.

Velocity articles range between 2500 and 3500 words, covering three to five pages.

These ranges are approximate; somewhat over or under these word counts is fine if justified by the content.

Articles from consultants and academics are welcome, but bringing aboard a practitioner co-author will get you to the top of the pile. If that’s not possible, please consider adding concrete, real-life examples from your work with clients.

Graphics that aid in understanding an article are also welcomed. In addition, please consider contributing original research in graphic form to Velocity’s Data Watch column.

If you’ll be working with graphic designers or printers, have them contact halverson@ strategicaccounts.org for the more technical requirements for graphics.

credibility to theory.

Key Subject Areas While authors may choose a topic most relevant to their own experience, some of the topics most relevant at this time are: • O rganizing and running the SAM program central office • G oing deep: uncovering strategic information from and about the customer • L everaging technology, data, and/or analytics to change the way you drive significant revenue with your customer, working internally and/or collaborating externally • Implementing innovation • Deploying disruption • Q uantifying and validating customer value in a case that resulted in a valuebased price solution or that prevented losing a deal and/or the customer

Elements of a Successful Submission An article doesn’t need to contain ALL of the following, but the more boxes it checks off, the higher priority it will be given. ✓ Practitioner author or co-author ✓ If written by a consultant or academic, must incorporate practitioner point of view ✓ Real, concrete business examples that exemplify the concepts discussed in the article ✓ Hard data ✓ Innovative concepts/“Next practices”

Who We Want To Hear From

✓ Human element

✓ SAMs and sales executives, managers, and account managers at all levels

How To Submit

✓ Procurement, strategic sourcing, and supplier relationship management executives ✓ Independent consultants and academics working with strategic account organizations. Articles co-authored by a consultant and a practitioner, or an academic and a practitioner, lend

If you already have a white paper, case study, or article ready to go, send it to Velocity associate editor Nic Halverson at halverson@strategicaccounts.org. You will be notified that your article has been received and is under review. If you just have an idea for an article, send a brief description and any supporting materials to halverson@strategicaccounts.org.

ELEVATE YOUR STRATEGIC MANAGERS FROM GOOD TO GREAT.

Use SAMA’s Individual Competency Assessment to: • Understand your SAMs’ current-state strengths and weaknesses • Discover how your account managers compare to each other and/or to competitors • Find SAMA resources and training tied to specific skills in need of improvement

SAMA’s Best-in-Class SAM Competency Model® •F acilitate meaningful coaching

3

Joint Solution Development, Co-Creation & Reaching Agreement

2 Strategic Account & Opportunity Planning

Strategic Account Manager Competencies & Skills 1 Understanding Organizational Priorities

SAMA’s SAM Competency Model

Want more information? Contact assessments@strategicaccounts.org.

5

Overall Relationship and Outcome Management

4 Multifunctional Account Team Leadership