When organizations combine through mergers or acquisitions, the period right after the transaction is completed is often characterized by chaos, which is harmful to sales results. Very often, the period preceding the merger or the acquisition is also one of uncertainty for employees and customers. Key talent and clients are vulnerable to the offers coming from competitors. This poaching of clients and employees can significantly impact sales activities.
To achieve success, the new organization needs to take a careful, strategic approach from day one. Here are some methods used by the best M&A advisors to prevent sales pitfalls:
- Clearly established positions: one of the most important things right after a merger is to prevent chaos by having clearly defined roles, a leadership team in place, and transparent communication across all areas of the organization.
- An effectively communicated sales strategy: first and foremost, the newly set-up sales team needs to know not only who they report to but also what they are expected do and how to communicate the changes to customers and prospects
- Pay attention to any issue that might affect the management of accounts: this is an issue that frequently affects new organizations resulting from the combination of companies that have been competitors previously and that bring their accounts into the new organization. Account ownership aspects will need to be reviewed, and accounts will need to be given to the representative who handles a particular account the most effective.