According to Salesforce, every 30 minutes 20 CEOs leave their jobs. Imagine how much larger this number would be as you started to move down the org chart to include VPs, Directors, Managers, and so on. This shouldn’t be surprising, given that the average tenure for someone at this level is only about 2 years, but it’s still shocking to see it put so bluntly.
It’s for this reason that keeping track of your contacts and relationships movements, also known as “Champion Tracking” is so challenging.
Today, it’s more challenging than ever due to the “Great Resignation,” which has seen a massive surge in professionals leaving their jobs during the pandemic. As employers find it harder and harder to retain talent, it’s up to you to retain your relationships.
Why track champions?
But why is champion tracking so important? Why would you want to keep track of your contacts’ job title changes or when they join a new company?
Well, whether it’s a C-level contact or one of the key influencers on your opportunity, contacts changing titles or companies usually represents a new opportunity, risk and sometimes both.
Your contact in a new company is a new opportunity
For example, let’s say one of your contacts at one of your key accounts jumps ship to another company.
If you’ve done a good job building out relationships with key stakeholders across this account, you’ll likely be in good shape, and can take the opportunity to reach out to your contact who left, congratulating them on their new role, and potentially earn their business at their new company.
There’s no time to waste in following up on their new role. The goal of a senior executive that joins a new company is to make an immediate impact! They’ll start by evaluating the tech stack, the people, and processes to see where there may be quick wins.
Early in their tenure, they aren’t overburdened with internal meetings, they don’t have an overflowing email inbox, and they likely have unallocated budget that isn’t committed to other projects.
Engaging them early in their new role and reminding them how great it is to work with you drastically increases the likelihood of them bringing you in as a vendor.
Your contact changing jobs requires effort to retain the contract
In other cases, a key contact departing for a new opportunity might present a lot of risk in the form of lost relationship capital. This will probably trigger you to form new relationships so you can strengthen the buying committee and save the account.
The sooner you can act on this, the better. So again, it’s best if you know about a change in someone’s role the moment it happens so you can act appropriately.
In either case, if you don’t have a means of identifying when a contact changes titles or companies, you can’t seize the opportunity or mitigate the risk that it might represent.
The right tool for the job
There are point solutions on the market that were developed specifically to serve this need, but in the case of Introhive, champion tracking is just one of the many valuable solutions provided by the platform to support revenue teams.
Introhive surfaces job title and company changes throughout your workflow. Job title and company changes can be sorted and isolated in our data quality management solution, Cleanse, natively in CRM via the Introhive Iframe, and delivered directly to revenue professionals via pre meeting, on demand and scheduled email digests.
Champion Tracking is a valuable exercise that every company should have in their playbook. If not, you’re at risk of neglecting some seriously low hanging fruit.
If you’re interested in seeing Introhive’s champion tracking features in action, feel free to request a demo and someone from the team will be happy to give you a tour of the platform!