As Good As Gold: Growing Revenue the Smarter Way with Account Lifecycle Management
What if your B2B sales, account management and customer success teams could focus all of their energy and resources on engaging only those accounts with the highest revenue potential? Your sales team would reach out to specific leads and contacts in the best accounts. Your account management teams would focus their efforts on accounts with strong potential to upsell or cross-sell. Your customer success team would prioritize accounts that are at high risk for churn. If applying your company’s best efforts toward your best accounts is the goal, why is it so hard for so many B2B companies to achieve it?
It’s complicated. Whether reaching out to new prospects or existing customer accounts, it all starts with a list. Best practices for cold calling, for example, provide great recommendations about making your way through a list efficiently, suggesting how soon to call, how many attempts to make, what days of the week and what time of day are best. But when the list contains 10,000 entries, is efficiency what you’re looking for, or is it effectiveness?
Effectiveness is about knowing which 2,000 names on that 10,000 name list offer the best return for your team’s investment in time and effort. What your sales, account management and customer success teams need to know is which specific accounts are the best accounts, and within each, who are the best leads and contacts to engage. But to identify the right contacts and the right accounts you need access to all available data gathered throughout the lifecycle of the account, data that’s typically stored in siloed systems managed by different departments. The prioritized contact and account lists need to be served up to the sales, account management and customer success teams, who would prioritize their programs and activities around those accounts. Getting to this point is to win the ultimate prize: your entire go-to-market team, fully aligned around prioritized lists of high potential accounts at the lead and contact level. These lists are gold. If you can generate these lists, your odds of winning go way up. If not, well…
If it were easy to generate these golden lists, clearly you’d have done it already. And it’s not just complicated, it’s an overwhelming challenge to pull it off, requiring you to:
- Access data from all of the systems that touch your customers throughout the account lifecycle,
- Analyze every prospect and customer account to assess net new, renewal, upsell and cross-sell potential,
- Look at the prospect, customer and activity data from every possible geography, industry, customer size and go-to-market segment to determine the best options,
- Deliver prioritized lists of accounts to the sales, account management and customer success teams, then
- Assess your results and modify your approach so you can continually improve.
Though many have tried, few have succeeded. Maybe you leverage business intelligence tools like Looker or Domo to generate high-level analysis. You may also use sales cadence tools like SalesLoft or Outreach to help design and execute structured plays. The trouble comes when you try to analyze data at the 30,000 foot level and then create a plan to operationalize that analysis on the ground. You may have tried to tackle this with Excel, but learned that spreadsheets just won’t scale. And if you’ve explored creating your own custom data warehouse, you’ve likely realized that the setup and management costs are simply too high for the average company. So, where does that leave your business?
Without the ability to make use of your account lifecycle data to determine how to prioritize your accounts, your sales, account management and customer success teams have little choice but to treat all 10,000 accounts on your call list the same. This typically results in efforts that increase in the volume of activity – campaigns, calls, meetings – in order to hit the growth target. But since the key to success in recurring revenue businesses is to maximize revenue over time for your accounts, you’ll want your team to target, land and renew the best accounts versus treating every prospect, lead and customer equally.
Account Lifecycle Management is a data-driven approach that engineers smarter revenue growth. Rekener’s Account Control Center is the Account Lifecycle Management solution that allows you to access data from across your entire account lifecycle in real time, enabling analysis at scale. It’s like having your own custom data warehouse — but without having to build one and without needing to hire a team of SQL engineers to run it.
Once accounts are prioritized based on revenue potential — whether by company size, by territory, by product or any other metric — these insights are pushed directly to account teams, ensuring a continuous and aligned focus on those accounts, and without having to leave their CRM. Sales calls on those accounts. Account managers grow those accounts. Customer success renews those accounts. Rekener’s Account Control Center is the new system of record for maximizing recurring revenue, delivering golden lists of your best accounts, leads and contacts and resulting in cross-functional alignment around the programs and activities that maximize recurring revenue.
Want to learn more about the Rekener Account Control Center?
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Alex is CEO and Founder of Rekener. Previously, he served as President and Chief Operating Officer at ZeroTurnaround and as President of the Delta Division of BBN Technologies. At BBN, Alex co-founded RAMP and AVOKE, both recurring SaaS businesses. Alex’s companies have generated $500M in liquidity events and more than $1B in sales. He’s been working on cracking the code on recurring revenue businesses since 1999 when he started an application service provider (remember those?) called Informio.
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