Woodard & Curran is a top-tier engineering, science, and operations company. As the firm grew and expanded the diversity of its offerings, they faced the challenge of maximizing value for clients across their full set of capabilities. They saw a great opportunity to grow accounts, but knew they needed a specific and focused effort or the promise of expanding work with existing accounts would not materialize.
Solution
Woodard & Curran engaged Cosine to help implement a strategic account management process and build strategic account management skills among their professionals and business development team. Cosine:
- Analyzed professionals’ and business developers’ strengths, weaknesses, skills, and challenges in account management using the Rainmaker Assessment.
- Delivered a customized Strategic Account Management Training program that taught professionals how to develop executive relationships, analyze and maximize value at their accounts, and effectively cross sell while finding and aligning key buying influences.
- Rolled out a Strategic Account Planning tool, which provides an ongoing guide and system for keeping professionals focused on their opportunities.
- Developed an Opportunity Management tool to be used in conjunction with the Strategic Account Planning tool to help ensure that the likelihood of winning each sales opportunity is maximized.
- Reinforced in-person training with an online training curriculum and regular webinars.
Results
After implementing Cosine’s strategic account management process, Woodard & Curran saw significant growth in the named strategic accounts associated with the program. Through the recession, the 4-year compound annual growth rate (CAGR) of Woodard & Curran was 7% across the board. However, in the named accounts where Cosine’s strategic account management method was applied, the 4-year CAGR was a whopping 110%.
In a single account alone, sales grew from a quarter of a million dollars to $3.5 million as a direct result of implementing the strategic account plan.
The results of the strategic account management program were so strong they were featured at the Strategic Account Management Association’s (SAMA) national conference.
Highlights
Client: Woodard & Curran
Industry: Engineering
Services: Assessment, Strategic Account Management Consulting and Training