Transcript Available from LTV Dream Team Meetup
Last month, Rekener hosted a Strategic BizOps Meetup. At “The LTV Dream Team: How Account Management and BizOps Drive Growth,” we gathered over 60 BizOps, Sales, Account Management and Customer Success leaders to explore the shifting balance between Net New Sales and Account Management and the power of data-driven customer account management.
When you bring three dynamic ops-minded sales leaders together, they’re bound to generate interesting ideas. In our recent Strategic BizOps meetup Bryan House, Emmanuelle Skala, and Matt McGinty tackled topics like customer value realization, changing power dynamics between Net New and Account Management, the differences between Account Management and Customer Success roles, organizational reporting considerations, and — what can sometimes be the third rail — compensation.
The strategic value of the role of Account Management is growing in B2B recurring revenue businesses. From Bryan House: “If you have an incremental dollar to spend, where do you get the best return? The greatest return and the fastest return...as you scale...starts to come from the Account Management of the business…”
SaaS has broadened the scope of skills needed for Account Management. From Emmanuelle Skala: In SaaS, “The Account Manager absolutely needs to be equally, if not more, skilled than the Sales rep, because they have to be product experts and they have to be selling, not only the existing solution but new solutions and they have to be doing retention and they have to be doing upsell and they have to be saving accounts...When you look for the skills of an Account Manager, it’s harder to find because there are more things that the Account Manager needs to do than a business Sales rep.”
Account Management is emerging in many businesses as THE pivotal role. From Matt McGinty, “It’s the cornerstone role that is going to allow the organization to really scale and create negative churn.”
The definitions of Account Management and Customer Success roles vary depending on your model, with all panelists saying “It depends…”. Notes Bryan House: “Customer Success owns value realization; if your customers don’t realize value from your products, they are not going to renew. Account Management owns account planning and account growth and the relationship over time. They are both zealous advocates for the customer within your organization.”
When BizOps partners with Account Management, we see opportunities to drive growth in new ways. Says Emmanuelle, equipping Account Managers with data from BizOps about product usage and other activities in the account results in proactive, activity-driven calls into the customer, “opening up the door for...awesome conversations.”
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Steph served as Rekener’s Community Manager and CMO. A Rekener co-founder, she was previously Senior Director of Marketing at CCC, a $300M+ recurring revenue business, and served in marketing leadership roles at Vertical, @stake, Informio, DotContent and Meridian. Her first recurring revenue role was as an inside sales rep selling real-time stock pricing subscriptions.
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