- Targeting only the largest revenue clients and potential revenue prospects for the executive sponsor program will enable you to optimize resources.
- Involving the account managers throughout the entire process, from account selection to gathering executive feedback, will enable them to have a sense of ownership to the program, which is a must for this program to succeed.
- Defining roles and responsibilities of both participating executives and account managers is a start. Companies should take this exercise a step further by aligning and communicating responsibilities to one another.
- Training, coaching, and guiding executives should be at the forefront of the program. Moreover, organizations should consider having veteran executives of the program train the rookie executives who have recently been selected to participate.
- Establishing metrics and targets to gauge the impact of the program should be a key initiative. Examples include customer satisfaction and related feedback, client retention, revenue growth, share of wallet, and account team feedback.
- Rewarding executives for a job well done will go a long way. Even something as simple as public recognition during a board meeting, company meeting, or QBR will be appreciated by executives involved.
Establishing and maintaining a successful executive sponsor program can provide technology vendors with one of the missing links that is needed to build deeper executive relationships with priority customers and prospects. Companies that have an executive sponsor program in place and are executing it effectively will have a clear competitive advantage in the market as competition continues to increase and customers demand more from their vendors.
Does your company have a well deployed executive sponsor program? If so, how is it impacting your sales organization?
[blog post by Irina Zvagelsky]