In this section of the course we’ll take a look at how account mapping can drive tangible growth. We’ll cover how account mapping can add valuable insights to support Sales, Marketing, and Product Integration decisions.
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Lesson two
·
10 minutes
The Account Mapping for Growth Playbook
In this section of the course we’ll take a look at how account mapping can drive tangible growth. We’ll cover how account mapping can add valuable insights to support Sales, Marketing, and Product Integration decisions.
Even if we understand how account mapping works, it’s not always the case that we understand how it can actually drive revenue. The good news is, there are multiple ways. All of which are underpinned by the understanding that partner presence can be interpreted as a signal about an account’s likeliness to buy from you (we call these ecosystem signals). Therefore helping your sales, marketing, and product teams prioritize where to focus your efforts.
There are various growth plays for account mapping. We have categorized them as the following:
Sales plays
Marketing plays
Product integration plays
Other: M&A
🎯 Sales Plays
Partners can help you broker introductions with hard to reach contacts in accounts that your sales reps have been struggling to break into for months. They can also be a useful source of account intelligence that your sales teams can leverage for their next meetings.
If you need the numbers to back it up, here are some stats from Reveal’s user base showing how targeting your partner’s customers positively impact average revenue, win-rate, and deal size.
Account mapping plays to help your sales teams:
Match your top prospects to your partner’s customers. Identify where your partners can help. Better yet, do this for your top strategic accounts for the year. For example, if you’re responding to a Request For Proposal (RFP) with a customer and loop in a partner that you know they are already working with, it might just be the checkmate move to increase your chances of winning that deal.
Overlapping accounts could be a signal of the account’s likeliness to buy from you. The explanation is simple: If a company has acquired a product that is complementary to yours from your partner, then they’re most likely to acquire yours. In this way, you can focus your SDR teams on the right prospects.
Match your partner’s top prospects to your customers. A partnership is a two-way street. Help your partners in return get a foot in the door.
Find common opportunities. These could become your next best co-selling targets where you and your partner could go in as a united front to deliver a “better together” pitch about your complementary products.
Find where partners are present within your strategic accounts. Understand which partners are present within your customer base to help sales teams prioritize which accounts to focus on, or have visibility into your customer’s tech stack.
The customers you share with your partners are a source of value that is irreplaceable. Through common customers, you can identify the correct messaging, combination, and implementation strategy to go-to-market with your partner.
Stanislaw Wasowicz — Regional Director Alliances EMEA, SmartRecruiters
Marketing Plays
When two businesses form a strategic partnership to promote each other’s products or services in an effort to widen their own client base. By teaming up, businesses can generate new leads from each other’s customer base respectively, and save money doing so. Co-marketing with partners to raise brand awareness including case studies and joint webinars.
Account mapping plays to help your Marketing teams:
Events Marketing: Use account mapping to understand using overlapping customers lists. You can also identify event speakers.
Advertising: Target accounts with the right message based on their current tech stack.
Case study content: Create case studies on common customers to highlight the ‘better together’ story.
Onboarding flows: Serve different content based on the user’s tech stack.
Prioritize Co-Marketing Partners: Use overlap data to determine the most strategic companies to partner with on co-marketing initiatives.
Lead Generation: By getting access to an ecosystem of other businesses that are targeting the same customer base you are. Qualified leads can be passed onto you and in turn, your qualified leads can be passed onto them, creating a mutually beneficial lead generation cycle.
Inform Account Based Marketing (ABM) campaigns: Understand which partners are involved within your key ABM account to gather account intelligence or co-market together on a campaign.
Expanding into new markets: Identify the right regional partners based on their coverage in your customer / prospect base.
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In laymen's terms: When companies share an ideal customer persona (ICP), have overlapping accounts / customer base, and have complimentary products they integrate to provide further value to their customers.
How can a company know which companies to partner and integrate with? It depends on your company's current processes, target audience, and long-term goals. Choosing the right integration partner is essential in ensuring successful B2B integration that delivers value to a company for years to come. Integration partnerships involve offering another company's product or service that integrates with and complements your products.
For Product Led Growth organizations, developing a strong differenciated product to fuel growth is paramount. And one of the fastest strategies to develop a best-in-class product is through integration partnerships with other companies whose products complement yours and can deliver more value to your user base.
Let’s be even more specific on the last part of that sentence...
For an integration to bring value to your customers, it needs to be relevant to your customers. Therefore you can pick the right partners using number of customer overlaps. A large number of overlaps is a good indicator of the potential value that you and this partner could bring to a shared customer group and each other.
Account Mapping Plays for Your Tech Integrations:
Identify potential partnerships using multi-partner account mapping. Use a multi-partner account mapping solution like 360 Mapping on Reveal to look at partner presence across your entire account base, but importantly use this as insight into the customer’s tech stack. If a partner keeps cropping up and you don’t have an integration with them already, it may well be the next best move.
Assess potential integrations. Before you commit to a formal integration partnership, you can check overlap data at a glance using the quick Partnerships Overviews from Reveal. With this high level insight you can feel confident that a partnership decision is grounded on validated data about target market potential.
Customer success and onboarding. With insight into your customer’s tech stack, your customer success managers can drive more valuable integration adoptions among new customers that shorten the customers’ time to value (TTV) and improve retention.
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