BY Jessica Helinski
A strong stakeholder mapping strategy can boost sales by providing insights into key decision-makers. Identifying who’s who in the prospect’s team and their needs sets you up to deliver value to all. And as buying groups grow, this skill is increasingly important for success.
Stakeholder mapping: What is it?
Stakeholder mapping involves identifying each person involved in a prospect’s buying process. Sellers determine the influence each member has, and how they impact decision-making.
Stakeholder mapping results in a clear strategy of how to approach every stakeholder, Accor Head of Marketing, Lenny Ohm believes.
“[It] makes it easier to manage relationships, get the right people on board, and close more deals with greater efficiency.”
Specifically, according to Sona, top benefits include:
- Effective targeting: Ensures you can deliver and communicate to each stakeholder's own priorities
- Smart resource allocation: Optimizes time and effort by focusing on high-impact actions
- True collaboration: Keeps everyone aligned regarding knowledge and goals
Important elements for mapping
Sellers should already practice multi-threading to ensure they’re connecting with prospects’ entire teams. So, with this base of familiarity, begin identifying which people impact the buying decision. Note their roles in the buying process.
To help get started, Ohm shares common stakeholders that sellers often encounter, including:
- Economic buyers: Their focus is on financials, such as budget and ROI.
- Direct users: These stakeholders will be the users of your solution.
- Champions: They will be advocates for your solution and may have past experience with it.
- Blockers: These people can hurt your progress and often include IT heads, compliance officers and finance departments.
- Decision makers: Those with authority to make purchasing decisions.
- Gatekeepers: They have direct access to decision makers and influencers.
- Signers: These stakeholders have the authority to sign contracts and finalize purchases; think CEOs, CFOs and department VPs.
Quality research is vital for this part of the stakeholder mapping. Use reliable sources, including company websites and LinkedIn, to confirm each stakeholder’s position and potential role in buying.
Narrow the messaging for each stakeholder
Once you’ve identified each one, determine the types of messages that will resonate with them. It's very important to tailor and personalize your messaging. Targeted messages demonstrate you understand each stakeholder’s needs and how your solution addresses them.
“Understanding who they are and what drives their decision-making will help you tailor your strategy,” SalesFuel explains.
Personalize the types of questions you ask which will uncover what is considered valuable by each key person. You’ll engage their interest and develop rapport, trust and credibility with each.
For more guidance on selling to different stakeholder types, take a look at these tips.
And don’t be afraid to use digital tools to help with this mapping step.
“Use your CRM to categorize stakeholders based on their role, influence and engagement level,” Zion suggests.
“Record the interactions…You can also leverage your CRM to identify patterns and opportunities for deeper engagement.”
There are several digital tools out there to explore. Using these can optimize your mapping and save you time.
Maintain mapping throughout the process
Most importantly, keep using mapping throughout the entire sales process. As it progresses, your mapping will evolve and you must adapt, LinkedIn advises.
“This will help ensure that your value proposition, messaging and tactics are adapted to the current situation and expectations.”
Investing time and thought into stakeholder mapping will pay off. You’ll win over key people, keep the process on track and increase your chance of closing a sale.
Take these suggestions into account before mapping and consider these other tips for working with a buying committee. As they grow larger, you’ll be prepared to effectively, and efficiently, sell to these complex groups.