Challenges: The Accelerator Group was engaged to assess a major challenge and risk facing this high growth Healthcare Solutions Provider – how to introduce and sell a new Strategic Offering to their existing client base. This was compounded by their high profile as a Public Company, as well as the focus & readiness of their Sales and Account Management Service organizations to best support this critical initiative.
Our Assessment provided the COO and Executive Management team with our Findings, as well as a series of ‘high impact’ Recommendations to breakthrough these challenges. These included:
1. Executive Management felt that the Account Management (AM) role within Client Operations needed to up sell these new strategic Offerings to the existing client base, allowing Sales to focus on the acquisition of new clients. They had established a sizable revenue target for this initiative.
2. The AM organization is comfortable solving problems for clients, but has limited business expertise in ‘creating value’ as a Partner (consultative selling).
3. No Stratification of Clients exists, which creates tremendous support problems.
4. The economic business model with clients has encouraged reactive behavior and ‘hands on’ problem solving by AM’s. Compensation was not aligned to support value creation & growth.
5. The AM role was not strategic to the company or scalable for future growth.
6. The Sales organization feels strongly that they should be introducing & selling the new strategic Offerings to the existing client base.
- Create a Strategic Initiative to redefine & transform the Account Management function ….. this was critical to improve business competencies, as well as for scale & growth.
- Develop a “Teaming” plan with Sales to introduce the new Offerings to the existing client base. This included a formal Rollout Initiative/Plan with monthly Reporting and a Sales Pipeline Analysis… this would minimize the financial exposure of the Plan, as well as reduce the potential attrition from competitors.
- Build an Operational Framework for Stratifying Clients based on support requirements.
- Upgrade the AM role and perception of the organization through alignment/restructuring and compensation.
- Create a corporate support function to introduce the new strategic Offerings to the existing base, with and through the AM organization.
Benefits / Results of our Recommendations: Our recommendations were fully implemented by our client, which resulted in achieving their revenue objectives and market penetration for their new strategic Offerings. In addition, their AM organization was transformed into a strategic weapon for the business.