Pipeline generation starts with account coverage. After all, you can't book a meeting with an account you never talk to. Today, we're excited to introduce you to a new way of generating pipeline - Account Coverage. Account Coverage equips sales leaders with the intelligence they need to keep reps focused on their best accounts while also identifying and closing market coverage gaps.
How sales teams deploy their quota capacity is an untapped source of rep productivity. Instead of spraying and praying in large territories, reps should be laser-focused on the highest potential accounts in their market at all times. That approach to sales is what we call dynamic books, and it’s a flexible alternative to traditional static sales territories.
Account books should never be static. But it can be hard to know exactly how and when you should distribute accounts, and to whom.
With that, we’re excited to announce the newest addition to the Gradient Works dynamic book management platform - Account Coverage. Our new Account Coverage intelligence helps sales leaders understand how they’re covering their market and identify opportunities to generate more pipeline.
Over the past two years, we’ve analyzed millions of data points about account coverage. We started doing comprehensive TAM coverage analyses manually to help customers see the state of their market coverage and where they could find opportunities to generate more pipeline. What were reps actually working? Where did they have opportunities to increase efficiency? Where are the gaps in their account coverage?
Our customers got so excited about what they learned that they made changes to their strategy and saw real results from these changes. Omnipresent increased opportunity creation by 16%. Another customer booked 3x more meetings in their first week after making these changes. Customers are engaging more accounts, setting more meetings, and ultimately, creating more pipeline.
It’s been so transformative for our customers that we decided to build it into the product so everyone could access these insights. And that's how Account Coverage was born.
So what is Account Coverage?
Account Coverage is a new set of reports and intelligence to help revenue leaders identify gaps in account coverage and uncover opportunities for improvement. That includes information at both the market level and the rep level. It provides a level of visibility that was nearly impossible to get before with custom BI work, so leaders can focus reps on the accounts more likely to convert, generating more pipeline. There's a quick tour at the bottom of this post.
Account Coverage includes two sets of reporting:
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Market coverage to understand how you’re covering your market. Are you missing out on pipeline? How well are you engaging the highest potential accounts in your segments? What other accounts should you be engaging?
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Rep coverage to understand how each rep is working their book of accounts. Are reps engaging the accounts they're supposed to? How thoroughly are they working their accounts? How are your accounts distributed among reps?
Some things you can do with Account Coverage:
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Uncover account hoarders. Every sales team has that one rep who somehow owns twice as many accounts as anyone else. Keeping those accounts locked up in one person’s name - one person who can’t possibly work all those accounts effectively - is detrimental to your overall pipeline creation. Identify imbalances in ownership, and easily rebalance by distributing excess accounts to other reps who have capacity.
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Identify gaps in coverage. Do you really know how many of your top-tier accounts are really being worked? You’d be surprised how much time reps spend on lower-priority accounts, not because they want to, but because they simply don’t know where to focus. Figure out where reps could be spending more or less time, and adjust your account books accordingly.
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Get data for better coaching. Rep-level coverage reports show you exactly where a rep spends their time, and gives you information you can use to coach them on how to improve. It puts an end to blind, one-size-fits-all coaching by providing the tools managers need to customize coaching for each rep, and makes it easier for managers to know where to spend their limited time.
You now get unprecedented visibility into market coverage with Account Coverage intelligence, along with the ability to immediately take action with distributions and retrievals through Bookbuilder. Everything you need to get - or keep - your team on track.
And the best part? You don’t have to use a dynamic books model to use our new Account Coverage. It doesn’t matter what territory design a company uses right now - it helps sales teams understand where they could be.
Want to learn more? Join us for a product walkthrough on February 24. Or request a personalized demo. And click below for a quick tour.
