Increase Share of Wallet by Double Digits-Sales Strategy Training!
It’s all about increasing your share of wallet with your key accounts!
A leading manufacturer in the consumer and industrial paper and packaging products industry
They saw that they weren’t fully leveraging their business value in their relationships with key accounts. Their ability to expand their product mix and presence inside these accounts was hindered by the limited number of contact points at the senior leadership level. As a result, they wanted to focus the efforts of their elite group of Strategic Account Managers (SAMs) on expanding their business within existing key accounts, increasing relationships and more successfully connecting to their customers’ strategies.
To equip this group of SAMs to call into more divisions within their key accounts, Wilson Learning developed a Strategic Account Planning program. The program focused on developing specific competencies designed to expand customer contacts and understand the customer’s goals and critical success factors, and provided tools to ensure strategic planning and execution of SAMs’ account plans. The program was customized for the participants’ situation and included manager coaching and reinforcement discussions, field assignments, and full-day Account Strategy Review sessions.
Strategic Account Managers reported positive results coming from the changed behavior and performance. Achievements included:
- A 33% average increase in new contacts
- A 19% gain of new contacts at VP level or above
- A 21% increase in new contacts
“We are able to do better discovery by understanding our customers’ critical success factors and goals.”
“We are able to find out what is important to our customers instead of what we believed is important.”
There was a noticeable improvement in SAMs’ differentiation strategy, as they were better able to understand their customers’ goals and critical success factors and align their solutions with these business drivers. Ultimately, this led to increasing their value as a trusted business partner. This in turn led to an increased share of wallet.
Experienced failure in trying to increase share of wallet? I have and I learned from that experience .
Are you interested in pursuing success? If so, contact me .