What is Account Mapping in Sales?

May 30, 2024

Account mapping is a strategic process used by sales professionals to understand and navigate the complex organizational structure of large enterprise accounts. It involves identifying key stakeholders, understanding their roles and influences, and mapping out relationships within the organization to tailor sales strategies effectively. This process is essential for enterprise sales, where decision-making can be intricate and multi-layered.

Account mapping is not just about identifying who to contact; it's about understanding how these contacts interact within their ecosystem. This strategic approach helps in pinpointing influence centers and potential advocates or detractors within a company.

An example of sales account mapping
Example of an account mapping in sales

Why is Account Mapping Important?

Enhanced Relationship Building

According to PR Newswire, B2B sales involve 68% more stakeholders than sellers realize. Effective account mapping helps in identifying these stakeholders, their interests, and their influence on the buying decision, allowing for targeted and personalized engagement . According to Gartner, “An average of 11 individual stakeholders are involved in a B2B purchase; that number can occasionally flex up to nearly 20.”

Increased Deal Closing Rate and Velocity

Research by Outreach  indicates that when more than one contact is engaged in a company, deals are 37% more likely to close. It also increases the sales cycle. This is because sales teams can focus their efforts on the most influential individuals and streamline the decision-making process .

4 Key Components of Account Mapping

  1. Stakeholder Identification: Identify all individuals involved in the decision-making process, including influencers, gatekeepers, and decision-makers.
  2. Relationship Mapping: Understand the dynamics between stakeholders. Who influences whom? Who are the advocates, and who might be detractors?
  3. Needs and Pain Points: Determine the specific needs, challenges, and pain points of each stakeholder. This allows for more tailored and compelling value propositions.
  4. Strategic Planning: Develop a strategic approach based on the gathered insights. This includes personalized messaging, targeted engagement, and strategic resource allocation.

What Tools and Technologies can I use to map accounts?

Modern CRM systems, such as Salesforce and HubSpot, offer account mapping features that integrate with other sales tools to provide a comprehensive view of enterprise accounts. These tools help in visualizing relationships, tracking interactions, and managing account strategies efficiently. For Hubspot, OrgChartHub app is a perfect example.

References

  1. PR Newswire. "B2B Sales Involve 68% More Stakeholders Than Sellers Realize, Aligned Study Reveals
  2. Gartner “the State of B2B Buying
  3. Outreach “Stakeholder mapping for sales
  4. Hubspot "Orgcharthub app"