How Relationship Mapping Helps in Upping the Sales Game

B2B sales teams face pressing targets from the higher-ups but don’t have the resources to effectively meet those objectives. For a long time, sales teams were heavily reliant on traditional organizational charts of buyer groups. 

Unfortunately, most companies only provide a single point of contact to act as an account manager. This hampers the efforts of sales reps because there are other key decision-makers in the background that they are not aware of. How does relationship mapping help with improving sales margins in this regard?

Single-threaded relationship reductions

Strategic sourcing teams generally have more than six decision-makers, but sales reps generally deal with only one individual from the buying group. Using Prolifiq Relationship Mapping Software will give you a bird’s eye view of all involved stakeholders. Using the templatized profiles of each stakeholder, you can store and update contact information to follow up when a lead grows cold. 

Single-threaded relationships bear the risk of losing contact with the entire buying group if one representative resigns, gets promoted, or grows uninterested. Relationship Mapping Software builds multi-threaded relationships for continuous communication despite any unforeseen events on the main point of contact for sales teams.

Understanding key decision-makers

As buying groups have several stakeholders, the sales team and reps must convince key decision-makers. Understanding key decision-makers in a buying group goes a long way toward identifying potential detractors. For example, if a company would like to change its office lighting system, sales reps should understand how key decision-makers feel about the technology used by the supplier. 

A relationship map details information such as the motivations of key decision-makers. In this example, if some stakeholders believe in sustainable energy, sales teams can include efficiency ratings to convince those potential detractors.

Sheds light on buying decision matrix

Each company has a buying decision matrix it uses to build relationships with suppliers or conduct strategic sourcing. Relationship mapping sheds some light on the criteria used to rate each supplier. Some companies may be focused on cost-effective solutions, and others could be sourcing high-end products. 

Having a relationship map sheds some light on the core objectives of each member of the buying group. If the buying group mostly has decision-makers focused on cost-effectiveness, proposing lower prices could appeal and help make a deal. There is a wealth of information that a relationship map details for better sales team presentations and proposals.

Improving account retention

With the detailed information from a well-structured relationship map, sales teams can gain further insight into stakeholders that compromised the deal in the early stages. Those same stakeholders are more likely to vote against renewing the contract when that time comes. Understanding their motives for not supporting the deal will help sales reps build trust and convince them as time goes on. 

A relationship map also keeps track of any stakeholders leaving the buying group. These aspects play a critical role in having an overview of periodical review matrix criteria. Subsequently, the sales team will be in a better position to retain their accounts.

Using AI-powered relationship mapping tools

Instead of manually mapping buying relationships, inputting preliminary data on an AI-powered tool makes the task easier. Advanced relationship mapping tools integrate with CRM and cloud-based sales platforms. The insights from these platforms are integrated and aggregated to provide an accurate relationship map. 

By extension, AI-powered tools can help sales teams identify expansion opportunities and gain a stronger foothold in their respective markets. This is the perfect replacement for the traditional organizational charts used before relationship mapping tools.