The overall process for vetting any software vendor is generally the same, with differentiation being heavily tied to specific requirements for features and technical delivery.
We’re entering a time of feature parity for primary platform functionality with an increasing need for integrated access, data insights, and a plan for AI utilization. At the same time, there’s an ever-increasing focus on ungated access for prospects and customers (see www.testbox.com as an example).
If you’re a vendor, an open sales process with a focus on meeting customer needs will drive more signatures than a song and dance meant to wow the audience.
If you’re on the hunt, this week is a quick list for vetting an Account Mapping Solution. Looking for guidance on what to do once you sign? Check here.
The checklist
Gather your stakeholders
- Marketing
- Partnerships
- Sales
- Customer Success
- Operations (Marketing, Partner, Sales, CS)
Stakeholder groups will vary based on your mainline strategy, but you should give voice to any group you can as you get started.
Readiness check
- Ideal Customer Profile (ICP) Clearly Defined
- Customer Journey Clearly Defined (From Prospect to Churn)
- When do they enter each overlap population?
2. Legal Compliance - What data are you sharing, with who, and why?
- Who should have access to YOUR data?
- Who should have access to PARTNER data?
3. Operations:
- Who will ‘own’ the platform admin?
- Who should have access to create overlaps?
- What are the CRM feature integration needs?
- What are the CRM data sync needs?
- Who should see the data within the CRM?
4. Enablement:
- Who owns the training strategy
- All audiences identified
- Strategic owners identified and fully committed to execution with launch
Validate the strategy in advance
- Joint Marketing Campaigns
- Content Commit
- Budgetary Commit
- Project Plan
2. Co-Selling
- Direct Commit + Resourced
- Process Plan
3. Partner Recruitment/Validation/Planning
- Pre-signing overlap comparison
- Quarterly Planning Targets (Prospects, Opps, Renewals, Nearbound)
4. Renewals
- CS Buy-In
- Co-Sell Plan
- NPS and CSAT Ratings Impact
5. Metrics and KPIs agreed on for success validation
6. Onboarding plan and strategic roadmap
Vetting the vendors
- Identify your targets
- Basic Features for overlaps are all basically the same (Prospect, Opportunity, and Customer Overlaps based on CRM sync mappings)
- Platforms may have regional dominance
- Dominance within existing ecosystem
2. Sales Team Features
- Where do they ‘work’?
- How do any ‘attribution’ tools align with any current process or impact potential future adjustments?
- Increasingly - the ability to set ‘targets’ with partners for non-overlap customers
3. CRM integration Features
- “Widgets”
- Data sync - custom overlaps v. standard overlap visibility and counts
- Connecting to Partners
- Insights
- Other utilization/engagement features
4. Pricing Model
- By users: Of the core platform? Of the sales tools? Can you self-administer users? Per user or by tier?
- By overlap count: Is there a base minimum? Does this go by tiers?
- By all means: Included integrations, Potential up-sells, Tech partner enhancements
5. Technical Validations
- CRM Integration Requirements and Features
- Security Model for Access: Direct platform access and CRM data security model
- Overlap Management: Frequency of updates, Population Shift Tracking, Comparative Analysis (industry, competitors, etc.)
6. Platform Differentiation
- Is there a unique approach that differentiates their approach?
- Product roadmap: CRM integration enhancements, Real-time synchronization potential, Inclusion and utilization of AI (short and long term)
7. Support Plans
- Onboarding Timeline
- Post-launch support
The wrap-up
The main message for this week is intentionality. Bring an intentional effort to any vendor selection process, and you’ll find better results.
Account Mapping, in and of itself, should be a strategic play, and the process of selecting a vendor should reflect that.
This guide is just that - a guide. Hopefully, it helps, but it may not be all-encompassing for your specific needs.
Find this useful, or are you looking for help managing the selection process? Let me know at [email protected]!
Prefer to listen? Check out the podcast version of this post here:
