Diagnostic Company Builds Strategic Account Management Program
Situation: A major diagnostic devices company’s traditional geography-based sales force was not effectively meeting the needs of multiple buyers across the globe in a variety of evolving organizations. In particular, sales reps struggled to reach the right decision makers for major hospital networks in the U.S. and Europe. The company decided to build a best-in-class Strategic Account Management sales organization allowing it to accelerate growth through improved strategic account targeting, sales team coordination and sales effectiveness.
Challenge: Sales leaders sought to successfully develop and implement a global strategic accounts program for executive call points at major hospital networks. Not only did they need to design a new role and establish clear responsibilities, but they also required a sales compensation plan aligned with the new role and clearly defined rules of engagement with front-line sellers. In order to rapidly develop and implement the new program, a robust change management program was critical for ensuring global cohesion and maximizing buy-in.
Solution: Alexander Group comprehensively assessed the current sales model, organizational preparedness and target accounts. During collaborative design sessions with key stakeholders, we shared key insights and trends from a recent Alexander Group Medical Device study that helped inform decisions for various program elements. Three sub-teams developed specific aspects of the strategic accounts program: (1) strategic network account selection; (2) buyer identification, value proposition and sales process; and (3) job design, sales force sizing and structure. We recommended a phased implementation based on regional readiness that included regional ramp-up plans, top priority account lists, goals and metrics.
Benefit: A comprehensive region-specific sales model and launch plan enabled the company to rapidly and efficiently launch the new program. The diagnostics division realized an 8% increase in quarterly sales following the implementation of the program, after 6% growth in top-line revenue the previous year.
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