Why is key account management training important?
It is common to find sales people who feel comfortable when they are face-to-face with prospects, but are unable to effectively manage multiple accounts. This problem can be even worse when staff try to develop new initiatives based on sales data.
We find this phenomena leads to salespeople who struggle when dealing with the big-picture. They miss opportunities with customers, and have not yet learned the right timing when it comes to approaches.
With salespeople lacking this perspective, sales teams lack direction, activities are unable to be prioritized by ROI, and ultimately – businesses under-perform.
What starts out as an innocent admin problem develops into strategic vulnerabilities and a business that consistently misses out on opportunities.
If your business experiences any of the above expect the following:
- An inability to collect and use sales data to identify opportunities
- Poor customer retention (high churn)
- Missed up-selling opportunities
- Missed opportunities with existing customer
- Inability to effectively prioritize activities based on ROI, and achieve breakout growth
- Having no intelligence as to why you lose existing customers. Put simply, you are making it easy for your competitors to outperform you.
The most cost effective solution to this is up-skilling.
Lumen Academy Sales Training
The first step is to understand what business indicators are important and the corresponding data we need to explore.
Next, we help people become fluent in the software and digital tools a business needs to use. Here special emphasis is placed on how different tools are used in concert.
Once people have skills in these two areas, they will be able to use the tools to generate relevant, prioritized ‘To-do’ lists.
At a higher level, we teach how these Account Management and CRM tools can work together with your Email Marketing, Sales, and SEO efforts to attain even higher levels of performance.
Once students have a firm grasp of the tools, we then explore their effective application.
Emphasis is placed on data collection and application. We teach how interpreting various data from your Account Management and CRM systems can help you:
- Identify the factors that help companies maximize opportunities.
- Prioritize activities according to: ROI, optimal time, best method of contact, best person to contact and reason to contact.
- Inform strategic decision making.
- Develop a deeper understanding of your customer and know what knowledge is missing.
- Help salespeople self-correct by identifying areas of friction in the sales process.
- Create systems to identify warning-signs with your account..
- Retain customer knowledge.
When the above skill sets are established, students are then taught to use them in symphony, culminating in the application of Predictive Modelling for forward planning.
The forward planning is based on predicted ROI, and is a cost effective way to reduce admin, increase conversion rates, and lift revenue.
It is achieved by identifying the relevant business metrics, analyzing data, and forecasting resource allocation, sales, and revenue.
This process gives you a 360-degree data profiling of your customer – meaning a better understanding of customer needs, and indications as to the strength of relationship with each of your customers. This specific and practical guidance will help you sell the right things, at the right times, using the right methods.
Lumen Academy Sales Certification
To ensure a member of your sales team is competent in Account Management and CRM, we recommend certification.
Being Lumen Academy Certified means your salesperson has completed rigorous, standardized, assessment, meeting one of three levels of achievement.
Each full course of training takes approximately 12-30 hours depending on the level of certification and the speed students need the teaching to proceed at.
- Level 1 – most people can attain this level with 12 hours of training.
- Level 2 – most people can attain this level with 18 hours of training.
- Level 3 – most people can attain this level with 30 hours training.
Each block of training will cover all the content for each level of certification and allow time for student examination of competency.
Certification will only be provided if individuals pass required assessment criteria.
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We work with businesses of all sizes to solves a wide range of problems. If you are wondering how we can help you use technology to help your business perform better, please get in touch with us.