Introduction
Earning the trust of buyers is the key to winning deals. An overwhelming 87% of prospects expect sales reps to act as trusted advisors, prioritizing their needs over commissions. Mutual action plans can help your team set clear expectations and maintain alignment and transparency at every stage of the buying process.
The takeaway? Well-executed mutual action plans build trust and drive successful outcomes. In other words, your team and organization can’t afford to ignore them.
Fortunately, you’re in luck! In this article, we’ll explore what mutual action plans are, why they’re essential for revenue teams, and how to create mutual action plans that increase deal velocity and improve overall sales performance.
What is a mutual action plan?
Seasoned reps know the B2B buyer’s journey is rarely a quick process. It often takes months and can involve up to 20 decision makers. Mutual action plans (MAPs) can speed up the buying journey and make it more efficient by acting as collaborative tools that unite buyers and sellers. A mutual action plan is a shared document that outlines the steps and timelines each party will take to complete a deal.
Here’s how a MAP works:
The seller learns the specific needs and challenges the buyer is facing. This enables the rep to offer solutions that meet the buyer’s requirements, including detailed proposals and product demos. During this discovery process, the buyer will share detailed information about their needs, preferences, and decision-making criteria—including who else needs to be involved.
Once the buyer and seller are on the same page regarding pain points and needs, the seller provides the buyer with the information necessary to make an informed decision. This includes detailed proposals, quotes, and other relevant documents. The buyer then reviews these materials within an agreed upon timeframe.
Throughout this process, both parties remain actively engaged. The buyer participates in meetings and discussions to clarify any uncertainties and provide feedback. They also ensure timely completion of their tasks, such as providing necessary documents or scheduling meetings with other stakeholders. The seller, on the other hand, maintains clear and consistent communication, addressing any questions or concerns promptly and setting realistic timelines and milestones.
As the sales cycle progresses, the MAP outlines the specific actions, deadlines, and responsibilities for both parties, enabling buyers and sellers to maintain alignment.
There are various benefits for using MAPs for B2B SaaS companies. These include:
- Improved pipeline visibility: With a well-structured MAP in place, there’s no question about where a deal stands in the sales process. This visibility enables reps to identify potential roadblocks and address them proactively, while simultaneously improving forecasting and resource allocation.
- Increased customer satisfaction: By outlining clear steps and timelines, MAPs provide buyers and sellers with a roadmap of what to expect. This transparency builds trust and enables sellers to understand the buyer’s specific needs throughout. Not only does this lead to a smoother sales process, but it also increases customer satisfaction.
- Faster deal velocity: MAPs streamline the sales process by setting clear expectations and responsibilities for both buyers and sellers. This reduces delays and accelerates decision-making, resulting in quicker deal closures.
- Better communication: MAPs improve communication and collaboration between sales teams and buyers. By having a shared document that outlines each party’s responsibilities, both sides can work more effectively together, reducing miscommunications and increasing overall efficiency.
Higher win rates: By providing a structured and transparent approach to the sales process, MAPs increase the likelihood of closing deals successfully. Having a clear roadmap in place builds buyer confidence and commitment.
Why revenue teams need mutual action plans
Every organization knows the pain of a rocky handoff between sales and customer success (CS). When reps close a deal and then pass it to the CS team without proper coordination, it can lead to confusion, delays, and frustration. And the one that ends up feeling the most pain is the customer because they experience inconsistent communication and unmet expectations.
Let’s take an example. Imagine a common scenario: a rep at a B2B SaaS company closes a deal and promises a quick implementation timeline. Unfortunately, due to poor communication, the CS team is unaware of this promise and schedules the implementation for a much later date. The customer feels misled and dissatisfied, which can jeopardize the relationship and future upsell opportunities.
MAPs can prevent such scenarios by ensuring that all commitments made during the sales process are clearly documented and communicated to the CS team. This alignment helps create a smoother transition, making sure that the customer receives consistent information and timely support.
But here’s where MAPs really shine: organizations can increase revenue by 10 to 15% simply by improving the customer experience. And what’s one of the easiest ways to enhance that experience? Mutual action plans.
By leveraging MAPs, you simplify the buyer’s journey. It’s like entering a relationship that naturally flows and feels right. This leads to higher customer satisfaction and loyalty, increasing the likelihood of closing the deal now and boosting your chances of retaining and upselling the customer in the future.
Talk about a win-win situation.
5 Tips for Creating Killer Mutual Action Plans
Now that you know what MAPs are and why they’re important, we’ll walk you through 5 essential tips for creating mutual action plans that really work.
Here are the tips at a glance:
- Start with a template
- Align to value
- Set a timeline that works
- Involve key stakeholders early
- Leverage automation tools
Let’s dive into each tip in more detail, starting with how to use a template to quickly create MAPs.
Use a template to spin up MAPs quickly
When it comes to mutual action plans, every step counts. To create a well-structured MAP, start by developing a playbook that leverages your chosen sales methodology and provides essential guardrails, such as key milestones and role definitions.
This empowers your team to follow a standardized process, minimizing confusion for both buyers and sellers. The goal is to create a consistent approach across your sales reps, so no matter who they speak with, the message is uniform. The template should also be customizable and personalized to each buyer.
A robust MAP template includes:
- An action plan: This maps out the key stakeholders, due dates, next steps, status, and any additional notes.
- Necessary resources: Case studies, technical documents, and help documents such as an ROI calculator should be neatly organized within your MAP template.
- An executive summary: This contains the goals, ROI, scope, and buyer’s success criteria.
- Stakeholders: Comprehensive list of the internal and external stakeholders involved in the deal. Should include relevant information such as name, email/phone number, and role.
Keep in mind, personalization isn’t just about knowing the buyer’s name or industry; it means speaking the language of the prospect and understanding and addressing their specific needs. For example, let’s say the buyer’s primary challenge is streamlining their customer onboarding process. In this case, the executive summary within your MAP should highlight how your solution can automate onboarding steps, reduce manual effort, and improve customer satisfaction.
For a customizable, easy-to-use MAP template, click here.
Align to value
No problem can be solved if you don’t understand it first. That’s why when creating your MAP, you need to align with the specific value you’re offering. This means you understand the problem your buyer is facing and can clearly articulate how your solution addresses it.
And this isn’t a one-size-fits-all scenario. Each stakeholder will likely have different challenges they need to solve, and your job is to cater to each of them. For example, a CFO might be focused on cost savings, a CTO on seamless integration, and a VP of Sales on faster deployment. In this case, your MAP might highlight how your software reduces costs, integrates effortlessly with existing systems, and accelerates deployment.
By including these varied concerns in a consolidated MAP, you ensure that all voices are heard and addressed. This builds trust and demonstrates your commitment to solving their problems, ultimately leading to stronger strategic partnerships and more successful outcomes in B2B sales.
Establish a timeline that works for you and your buyer
The third tip for creating an effective MAP is to establish a timeline that works for both you and your buyer. Include agreed-upon dates and timelines, such as how long security and legal reviews will take and what the onboarding process looks like.
This is important because without timelines in place, critical steps like security and legal reviews or the onboarding process might take longer than expected, causing the deal to stall. Additionally, without setting these expectations upfront, you might encounter last-minute requests for information or documents, which can further slow down the process and create a poor experience for the buyer.
If your buyer isn't sure about these timeframes, use your experience to guide them. For example, you might say, "Normally for companies your size, we see security and legal take about three weeks. Does that sound accurate to you?"
Guiding your buyer through the process in this way helps you set clear expectations and prepare ahead for any asks that may arise later in the buying cycle, such as gathering security documents.
Invite stakeholders early
Once you work with your buyer to determine a timeline that works, the next step is to invite key stakeholders early in the process. Start by identifying who else should be involved and what role each person plays. For example, are they the decision maker, the one who signs off on the deal, or an influencer who impacts the decision? Knowing this helps you multithread efficiently, allowing you to address concerns and gather input from all relevant parties as early as possible.
If you’re not sure who all the stakeholders are, use placeholders in your MAP. This will enable you to invite the right people at the right time, once you determine who they are.
By involving key stakeholders early, you keep everyone aligned, reduce the risk of delays, and make it easier to navigate the complexities of the B2B sales process.
Leverage tools to streamline and automate tasks
Lastly, one of the most important steps for creating an effective MAP is to leverage tools to streamline and automate tasks. While spreadsheets are a good starting point, they quickly become cumbersome and inefficient as your team scales.
Tools like Accord can help you create repeatable playbooks that can be used across multiple customers, creating a consistent buyer experience and leading to greater deal velocity. By automating routine tasks and centralizing information, these tools free up your sales team to focus on building relationships and addressing unique customer needs.
When reviewing tools, look for options that also offer a central repository for all the resources your buyer will need, such as documents, timelines, and key contacts. With all relevant information in one place, buyers and sellers can quickly find what they need without having to sift through multiple emails or documents, creating a more efficient, streamlined sales process.
Conclusion
To build trust in B2B sales and close more deals, leverage mutual action plans. By following the 5 essential tips outlined above, you can create a more transparent and buyer-centric sales experience that enhances your buyer’s journey and leads to long-term strategic partnerships.
Remember, a well-executed MAP does more than just outline steps and timelines; it demonstrates your commitment to understanding and addressing the unique challenges faced by each stakeholder. By personalizing your approach and using advanced tools to maintain consistency and efficiency, you’ll provide a superior customer experience that increases revenue and customer satisfaction.
