So - what do you know about your top accounts? What are their advertising needs and challenges, and how are you solving them? How much of a key customer's advertising budget are you getting and could you get more? How successful have you been with them in the past, and what kinds of presentations have been pitched to them? Do you have sound strategies for not only your top accounts, but also for high growth accounts that may some day become top accounts?
With comprehensive, upfront knowledge of a customer you're better positioned to understand their needs and better manage the opportunity to win the business. The problem is that the information resides in so many different places. It takes time to gather and often gets lost. And sometimes account intelligence is lost for good -- when a salesperson leaves the company.
Matrix
Plus lets you pull together and view customer information from a variety of angles, both qualitative and quantitative, including a
Customer Needs Profile ,
Revenue Share and
Non-Traditional Revenue, and provides an
Account Strategy Matrix , to assist you in prioritizing accounts to help you formulate the most productive sales strategy.
Customer Needs Profile
Store a customer's Marketing , Advertising and Custom Needs information - all in a single place. Maintain a repository of customer profiles that can be shared with other sales staff or transferred to others with account re-assignments. For added value, combine this qualitative information with a variety of account analytics and trending to help you formulate your account strategy or to use in creating innovative special programs that align with market trends.
Use MatrixPlus' Customer Needs Profile and Analysis to maintain in-depth information and keep a customer's requirements top-of-mind, including:
- Marketing - Gather information on a customer's marketing approach. Describe their marketing strategy and compile other marketing information including their positioning, messaging, value propositions, target market and their customer profile, seasonality of their business, successful marketing programs and marketing mix.
- Advertising - Collect details of a customer's advertising strategy. What advertising venues does the customer use? Maintain a list of characteristics of their advertising strategy, including primary and secondary demographics, advertising budget and split, interest or historical participation in community programs and event marketing, availability of co-op funds, and use of an on-line strategy.
- Custom Needs - Simplify keeping track of electronic presentations and other files used in customer sales activities within the MatrixPlus Customer Needs Profile. Use URLs and directory links to maintain history on past pitches and information shared with the customer.
Revenue Share
Share is an integrated element in MatrixPlus - and can be viewed along side other valuable account information to cast it in a more relative context. Use in conjunction with your choice of specific account criteria for sorting and filtering with a display of relative share information to quickly identify opportunity and risk in your account base.
- Put focus and purpose in your strategic account planning - Easily identify top areas for growth
- Gain insight into how share is gained - Break down revenue into various components to gain insight into how share was achieved.
- Quickly identify areas for improvement - Where are you being "underpurchased"? Are there areas where you should be getting a greater share of a specific customer's advertising budget? View share information with needs analysis information to gain deeper account insights.
Non-Traditional Revenue (NTR)
Do you really know how profitable your NTR projects are? To what degree have you been able to apply lessons learned from past projects to improve the performance of current programs?
Use MatrixPlus to track sales efforts and other costs to assemble a picture of project return-on-investment (ROI). Take it a step further by combining NTR performance and customer profile information to create a more complete assessment of a campaign and utilize it to make future programs more effective.
- Measure incremental revenue - Use reporting and comparisons in MatrixPlus to determine whether NTR is true incremental revenue or simply a shift of forecasted revenue from one revenue stream to another.
- Improve NTR targeting - Know who was pitched and how many pitches were made to assess effective targeting. Identify non-targets - those customers who have been repeatedly approached but have expressed no interest.
- Gain a better sense of ROI - Combine insight into the selling effort (cost of sale) and program costs along with true incremental revenue to better assess program ROI.
Account Strategy Matrix
You've heard the cliché. "20% of your customers contribute 80% percent of the revenue." Advertising sales is no different. Do you know who these key accounts are? Do you have a mechanism that focuses your sales staff specifically on these accounts and other high potential accounts and prospects much more so than other accounts?
MatrixPlus provides
the entire sales team with an account strategy tool that focuses their efforts on the right accounts and measures the results
- Use the right tool -
Choose from three optional sales matrix configurations, a four-, five-, or nine-cell grid, to help you and your team identify and evaluate accounts for revenue contribution and growth potential.
- Zero-in on the right targets - Prioritize your staff's time and efforts on the top accounts and those with the greatest potential. Manage and support the activities that will have the most impact on reaching your revenue goals.
- Improve sales effectiveness - Integrate MatrixPlus' account strategy with your sales methodology in order to reinforce and optimize sales operations as well as measure the results.
