Meet Account Spark: Make Sales Sparks Fly with AI

Visuals can be taken from this presentation (slides 1-7)

For the talk track, I’ve created a video recording of what I’d like to capture in the blog post.

As the CEO of Account Spark, and a seasoned sales professional, I am excited to share an exciting new product, a transformational sales tool that I and my global team have spent the last ___ years building for the Salesforce App Exchange. It is the result of years of experience working as sales reps, building tools and strategies to support enterprise-level sales organizations, and combining the innovations in machine learning with the intuition of seasoned professionals.

Our vision is to make sense of the world of data by marrying the world of artificial intelligence with human judgement to help busy sales professionals make smarter decisions about where and how to spend their time. We are on the cusp of launching our product, and I couldn’t be more excited to share it with you today.

According to an estimate from Duns & Bradstreet, there are over 18MM accounts in North America alone. Those are a lot of potential targets. With the most sophisticated and mature sales teams having a few thousand sales professionals, but the average coverage of any given sales force is still less than 1%, and that’s on the high end.

So how do you maximize your time and efforts to focus on the right accounts, with the right strategy to close more –and more profitable– deals?

Unfortunately, the most common answer to that question is what I refer to as “name brand recognition.” As sales reps we tend to scan our accounts and go after the most familiar or where we have an existing relationship. But that strategy is arbitrary at best and is not a repeatable or sustainable sales strategy.

What if there was a way to maximize time, to analyze and understand all of your accounts, regardless of relationship, and focus energy on the accounts with the highest probability of converting and with the highest potential profitability? There is, and it’s called Account Spark.

Account Spark combines artificial intelligence (we call him Spark) and intuition to provide you with a clear view of all of your accounts and provide strategic guidance to close more deals. We do it by evaluating two key metrics across all of your accounts: potential and probability. Potential this is the amount you can sell to a company and represents the potential deal size of any given account. Probability this is the likelihood of converting an opportunity into a signed deal. Using dozens of historic and predictive data points gathered from across the Salesforce cloud, Account Spark generates a score for both probability and potential and uses that to plot all of your accounts in a single view.

But Account Spark doesn’t stop there. We go a step further, drawing a line at the 75th percentile for each metric. The result is a four quadrant grid that provides actionable strategic perspective for each of your accounts. While we do prioritize your accounts, we’re not neglecting anything, we provide an actionable strategy that aligns with what we understand about your accounts to drive higher conversion in less time at higher profitability. This approach is what defines our product.

Here’s how the grid breaks down:

Top Right Corner = Focus
This is where you as a sales rep should spend your time, because it has the biggest bang for your buck. We’re not suggesting

Lower Left Corner = Support
This set of accounts present an opportunity to leverage channel managers and reselling partners to effectively and efficiently sell to these accounts. While they might need a little extra touch, you don’t have to provide that yourself.

Top Left = Stretch
These are your “elephants.” They could be massive if you closed them, but they’re not as likely to happen. They might take more work, but would have a big profitability pay off if converted.

Bottom Right =  Team
These accounts are really opportunities to work with your teammates to use junior resources to move through this high volume of accounts quickly. Because they are high probability, but likely smaller deal size, they are great learning opportunities.

This simple categorization of your accounts provides your team with an actionable strategy for going after the most lucrative deals with the highest likelihood of closing.

This is the tool I wish I had when I was a sales executive. I knew I was sitting on powerful data buried deep within my Salesforce reports, I just didn’t have an efficient and effective way to synthesize and visual it. Spark’s ability to process huge volumes of data and generate a clear visualization of your accounts makes him an invaluable asset to your team, and frankly one I wish I had all those years ago.

And because our solution integrates seamlessly into the Salesforce ecosystem, your data never leaves the SFDC environment, ensuring security and keeping things simple for your team. No new programs to download, exports/imports to manage, or third party portals to access.

I am excited for our product to launch on the Salesforce App Exchange. We’ve been in beta with a select handful of sales teams, who have helped us test and refine the product, and I can’t wait to see what this transformational tool can do in the hands of sales teams on scale.

If you are interested in learning more about the product or want to get a personalized demo of Account Spark in action please reach out to us at info@acctspark.com

MICHELLE’S NOTES FROM VIDEO:

Let’s take a closer look at the grid.

  • Visualizing your set of accounts: giving you a visual of your world… then we go further and segment it, drawing a line at the 75th percentile, so that the majority of accounts are in the red quadrant and the minority is in the green quadrant
  • Then we segment further, separating accounts into 4 buckets
    • ALL of the quadrants are actionable, but each requires a different strategy to convert
      • Top right corner = Focus — this is where you should spend your time; it has the biggest bang for your buck
      • Lower left corner = Support — you should use that as an opportunity to
      • Top left = Stretch — these might take more work, but would have a big profitability pay off if converted
      • Bottom right =  Team — work with your teammates to chug through these accounts, because they are high probability, but likely smaller deal size are great learning opportunities

This approach defines our product.

Until now there hasn’t been a way to

There are more accounts than we know what to do with. Your biggest challenge as a sales rep, sales manager, or sales strategist, is to know where to spend your time.

The challenge / The Situation

  • How do we focus our time better? 18MM accounts, 1-2k sales people, <1% sales coverage — it’s defaulting to a “name brand” recognition strategy… not based on probability or profitability insights
    • Can do better than relying on a personal “rolodex”
    • There’s a lack of informed sales strategy

How do we combat this

  • Potential: $$ amount you can sell to a company
  • Probability: likelihood of converting the opportunity into a deal
  • Visualizing your set of accounts: giving you a visual of your world… then we go further and segment it, drawing a line at the 75th percentile, so that the majority of accounts are in the red quadrant and the minority is in the green quadrant
  • Then we segment further, separating accounts into 4 buckets
    • ALL of the quadrants are actionable, but each requires a different strategy to convert
      • Top right corner = Focus — this is where you should spend your time; it has the biggest bang for your buck
      • Lower left corner = Support — you should use that as an opportunity to
      • Top left = Stretch — these might take more work, but would have a big profitability pay off if converted
      • Bottom right =  Team — work with your teammates to chug through these accounts, because they are high probability, but likely smaller deal size are great learning opportunities

This approach defines our product.

Our vision as a company

  • Is not that everything is done by robots, but that there is a lot of value in taking the best tools out there and combining it with our experience. So our vision is to make sense of the world of data by marrying the world of artificial intelligence with human judgement.
    • It’s all about how you approach the accounts

Partnering with the #1 CMR

  • The information never leaves the system
  • Secure: never leaves the Salesforce cloud
  • Implementation: No need for implementation partners, there is a wizard that lets you start using the tools fast

Experience + Our AI  to produce powerful predictions.

Excited to launch this soon

  • Will be on the App Exchange and thank you to all of the people who have gotten us here.



Spread the love
  •  
  •  
  •  
  •  
  •  
  •  

Published: 05/03/2019

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Leave a Reply

Your email address will not be published. Required fields are marked *