In this post, we take a closer look at the benefits of Account Based Collaboration.
As sales teams have moved away from traditional ways of communicating in favor of frictionless and real-time collaboration tools such as Slack, the positive change it brings to the entire organization is undeniable. So far, we’ve seen eight key benefits of Account Based Collaboration that have sales leaders raving about team selling.
Let’s take a look.
Note: Do you want to increase collaboration and drive growth? Learn more about Troops and how you can supercharge your sales performance.
1. Higher Win Rates
Salespeople have access to people who can help them solve problems and get in front of the right people at target accounts. Moreover, executives and leaders can more closely monitor in real-time what is happening with a particular deal and help provide assistance as needed. The result is fewer stalled-out deals and higher win rates.
Account Based Collaboration can also help you with post-sale opportunities. For example, expanding how far-reaching your product is within the organization or expanding the number of products you have in use within that organization.
2. Enhanced Deal Visibility
By separating channels for your key accounts and collaborating on issues and needs that arise, anyone from your entire organization gets increased visibility of what’s happening with any specific deal at any given time throughout its lifecycle. This means that people can proactively get involved when they are able to answer questions and help move a deal forward.
3. Bigger Deal Sizes
Account Based Collaboration works best with big, complex deals when multiple people have to be involved to bring home the close. Reps have the ammo, internal resources, and executive engagement they need to challenge customers to agree to bigger deals.
4. Faster Sales Cycles
By getting people involved in sales that are not on the sales team like executives or product experts, you’re going to get a better perspective and more operational support to help effectively close deals faster. It might be a product manager, an engineer, people from operations, or perhaps even someone on the legal team.
5. Breaking Down Silos
When we talk about traditional selling we often operate in a silo where feedback is delayed, opaque, and inconsistent. By organizing teams in a collaborative medium they are already using, you will break the silos. Think about it as a really systematic approach to building and leveraging a strategic support team that will ultimately help drive conversions, shorten your sales cycle, and increase deal sizes.
6. Team Transparency and Accountability
By working in a collaborative medium you make sure that the entire team is frequently seeing what’s going on in the business in real time. Reps love this because it brings visibility to their work. At the same time, executives can consume bite size pieces of information and updates that they’d often miss on their schedule. Not to mention, operating in this way creates a culture of transparency and accountability.
7. Making Organizations More Customer-Driven
By focusing the team on solving the problems of the customer in a public workspace, the entire company gets exposure to the needs and wants of your most important prospects and customers. This helps tighten the feedback loop between the front lines and adjacent teams like product, marketing, and the executive team, which results in better products and services.
As an added bonus, employees will feel more connected to the work they’re doing when they see the impact it has on real customers and the company’s growth.
8. Better Customer Experiences
Whether a prospect, lead, or customer, people are craving a personalized experience. The more you listen, the better you’ll be able to understand them, empathize with them, and create solutions that meet their needs quickly.
By putting the right information at the core of the process and opening up the process for collaboration, you will create a better customer experience.
Account Based Collaboration gives people the experience of an entire team working together in order to ensure their questions are answered quickly and correctly to facilitate their decision-making process. When this happens, people become excited to buy from you.
Account Based Collaboration is about creating an environment where you can easily tackle mission critical processes. And as a result, you can drive better outcomes across the entire organization. Because creating great customer experiences and closing deals was never a one-person job in the first place—it’s a team effort. That’s why high performing organizations will adopt Account Based Collaboration as a sales methodology to drive growth and increase revenue.
Are you using Account Based Collaboration and seeing benefits we didn’t mention here? Drop us a note in the comments, we’d love to know.
Do you want to increase collaboration and drive growth? Learn more about Troops and how you can supercharge your sales performance.