Account Sets, or targeted groups of Accounts, have been a part of our platform for quite some time now. Many customers incorporate them into their strategic planning to focus specific activity against the right Accounts, primarily within Goals, Objectives and Surveys. In the original solution, the administrative upkeep of maintaining Account Sets to ensure the right Accounts are identified and included was time-consuming. It lost its efficacy if not scrubbed regularly, diminishing the long-term value of this capability. To remedy the situation, we’ve developed processes to “dynamically” manage which Accounts to include or exclude in Account Sets, making the solution more automated and efficient. This Dynamic Account Set capability delivers more strategically accurate and up-to-date Account Sets to leverage in your sales execution workflow.
Strategically Group Accounts into Targeted Lists
The concept of grouping Accounts together into targeted lists is certainly not new to the sales world. In the past two decades or so, companies have gotten more precise with their account targeting. The issue has been that these lists existed in different spreadsheets and weren’t leverageable in sales execution platforms or reporting tools.
We’ve addressed this opportunity with Dynamic Account Sets, giving companies the ability to develop and maintain strategic groups of Accounts from within our platform. They can leverage these sets within our sales execution application and report to plan, as well as execute and measure specific strategic initiatives.
Today we see an increased focus on Account attributes that drive more strategic execution beyond distribution, volume and revenue, with an increased focus on qualitative measurements in addition to quantitative. In the beverage alcohol world, GreatVines gives companies the ability to leverage any Account attribute in activity and sales execution based metrics (like National Account Authorization Compliance, Menu Placements, Displays, and Staff Trainings), distribution and volume metrics, as well as timeliness of interactions and other CRM measures.
Which Account Attributes Can You Track?
Our Dynamic Account Sets give companies the ability to group Accounts strategically based on Account Segment, geography, parent or National Account hierarchy, Marketing Group or Banner, Chain or Independent, or any number of custom Account attributes like Consumer Demographic, Image Rating, Commercial Rating, Food Type, Outdoor Dining or Offers Delivery. These qualitative Account Attributes can be leveraged along with sales metrics like distribution, volume and revenue to identify specific Accounts that match strategic requirements.
Examples of possible uses:
- Fine Dining, Italian Restaurants with Outdoor Seating in Miami
- High Image Wine Shops with Delivery Service
- Pool Bars in Marriott Hotels
- Safeway Tier 1 stores in Northern California
A Valuable Difference with Dynamic Account Sets
As part of continuing enhancements to our Account Set capabilities, our Product and BI teams have developed an innovative new solution to intelligently group Accounts in an automated fashion with “Dynamic Account Sets”. This product enhancement will give customers the ability to define the criteria for Accounts in a Set and automatically refresh their Accounts in the Sets daily based on Account data updates, integrated syndicated sales information and other user updates. This means that companies can now leverage Dynamic Account Sets within Goals, Objectives, Survey Plans, and even National Account Authorizations, to instantly adapt targeting strategies that define the right account for the initiative.
How it Works
A look at the builder interface used for creating Dynamic Account Sets.
Using a new builder interface, Administrators will be able to create precise queries by setting parameters to be used for the daily refresh of Account Set Members, or Accounts within the Account Set. There are a range of parameters, which can be used for things like segmenting all Accounts labeled “Grocery” with sales greater than 500 units and that also have low sales volume, as shown in the example above.
After Account Set parameters have been defined, Admins can choose to schedule when their lists will update, either daily, weekly or a custom time that suits their needs.
Once the new Dynamic Account Sets have been built and are updating at their scheduled intervals, Admins can connect them into any GreatVines module that is configured to display Account Sets. To see these options, a list can be found on our Find Accounts Page.
All that’s left is to sit back and let our system do the work. Let’s say you chose to connect the Dynamic Account Sets to Survey Plans. This means that a Survey will be assigned each time a new Account Set Member qualifies for the list and is added into the Dynamic Account Set.
Utilizing a New Phase of Technology
This interface is the first module to utilize our new GreatVines Administration Page and be built within the newer Lightning Web Component technology from Salesforce. We’re delighted to be able to utilize this and pass along the convenience to our customers.
The GreatVines Administrator Page
We’re excited to see what unique strategies our customers come up with in using our new Dynamic Account Sets! Being able to quickly refresh data for these lists will open up many possibilities and more easily create assignments to pass on to end users.