Account Based Selling, as defined by Knowledgetree, is a B2B sales model that uses an account–based approach, rather than a lead-based or contact based approach, to predict which companies are ready and likely to buy. The problem is that most Salesforce.com instances aren’t completely or accurately populated to create a model that will predict which companies are most likely to buy. I refer to this problem as Dirty Data and data becomes dirty for numerous reasons:
- It was keyed in incorrectly by a seller
- It was purposefully provided inaccurately through an online form
- It was already outdated when it was uploaded from a 3rd party
But most likely the reason your data is dirty is because the individual is no longer employed at the company you have them associated. The Bureau of Labor Statistics (BLS) reports the average person changes jobs ten to fifteen times (with an average of 12 job changes) during his or her career.
While inaccurate data is a problem for contact records – the silent killers for Account-Based Sellers are incomplete records.
According to CEB data, the average number of stakeholders involved in a customer purchase decision is 5.4. But most sales people are talking to 1.5 on average – and those are usually the ones that will call us back. The proverbial tip of the iceberg.
At RampedUp, we look at cleaning the entire Account record. That includes populating the Account with firmographic detail, identifying inactive contact records, enhancing existing records, and adding key stakeholders that aren’t present. This gives a full view of the 5.4 buyers in the buying committee and Account-Based insight that allows for better qualification.
When old contacts are identified, it is a best practice to follow them to their next job – especially if they were a former user. This is a great lead source considering the sales effort already put into these individuals.
Having a clean, standardized, and accurate Account in Salesforce.com is the key ingredient to Account-Based Selling. From there, it is easy to look at your territory in its entirety to find targets based on size, industry, and technology install to devise a pursuit strategy. A close examination of the Closed Won Opportunities inside of the RampedUp Win Vault can not only help you understand who bought – but why.
You can learn more about cleaning Salesforce.com on the Account or System level here!