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Account executives (AEs) are essential to driving sales and building long-term client relationships. To excel in this role, top-performing AEs combine strategic relationship management, negotiation expertise, and data-driven decision-making.
In this blog we’ve outlined key areas that distinguish high-achieving account executives and provide actionable tips for improving the performance of customer relationship management to becoming a pro at closing deals, sharpening your negotiation skills, and harnessing the power of data to crush your targets.
Excel at client relationship management
Account executives who are at the top of their field know that building solid relationships with clients is key. It's not just about being nice; it's about really getting what customers want. In fact, 79% of companies that beat their revenue goals have a solid plan for making things personal. So, how can AEs level up?
It's all about communication, regular check-ins and updates show clients you care. Mix it up with different channels – some folks love a quick text, while others prefer a good old-fashioned phone call. Make each interaction count.
A good CRM system can be your secret weapon. It helps you keep track of all those important client details and preferences.
Hone your negotiation skills
Negotiation skills are crucial for account executives to excel in their roles. Preparation is key to successful negotiations. Research shows that underprepared negotiators often make unnecessary concessions and overlook valuable opportunities. To improve negotiation skills, account executives should set aside dedicated time for research and homework, create a negotiation checklist, and even consider enlisting a negotiation coach.
One effective strategy is to make the first offer, as it can anchor the discussion and influence the final outcome. However, if the other party makes the first offer, be prepared to frame your counteroffer carefully. Framing involves crafting your offer to improve its appeal and increase the odds of re-anchoring the discussion.
When faced with objections, it's important to address them proactively. Objection handling is a critical skill that involves responding to buyer concerns in a way that changes their mind or alleviates their worries. Practice active listening, validate the prospect's concerns, and ask follow-up questions to uncover the root of their objections.
Use data and analytics
Data isn't just for the tech guys anymore – it's a game-changer for sales pros too!
First off, data analysis is like having a crystal ball for your sales strategy. It helps you peek into consumer behaviour, spot trends, and tailor your approach for maximum impact. Pretty cool, right? By diving into the data, account executives can predict what customers want before they even know it themselves. Talk about being one step ahead!
Data doesn't just help you understand your customers better, it also boosts your bottom line. Companies that use data-driven strategies often see higher conversion rates and more efficient sales processes. It's like having a secret weapon in your sales arsenal.
Handling objections is another important aspect of negotiation. AEs must be skilled in addressing client concerns by actively listening, validating the objection, and offering solutions that alleviate any doubts. This approach not only strengthens the negotiation but also builds trust with the client.
Collaborate Effectively with Team Members
Teamwork makes the dream work. Â In the fast-paced world of sales, collaboration is key to success. Account executives who work well with their team members often see better results and happier customers.
Regular check-ins with your team can work wonders. Whether it's a weekly huddle or a quick daily standup, keeping everyone in the loop is crucial. Especially if you work remotely. Try sitting next to your SDRs – it's a great way to spark those spontaneous chats that can lead to big wins.
It’s not just about individual goals – team goals matter too. Consider tying a small percentage (like 10-25%) of everyone's goals to team performance. It's a surefire way to get everyone rowing in the same direction.
Whether it's hitting a team target or closing a big deal, taking time to recognise collective efforts can boost morale and strengthen those team bonds. After all, when the team wins, everyone wins!
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