What worked 10, 5, or even 2 years ago for demand generation doesn’t work any more – Sellers are following Marketing’s lead and taking an Account-Based Approach. The following excerpt defining Account Based Selling comes from Forbes…
Account-based selling, or ABS, takes the target accounts that were identified by ABM and develops them to revenue. While ABM is generally in the hands of the marketing department, ABS is a collaborative effort between marketing and sales.
- Identify your ideal customer profile: When developing your ICP, consider factors like industry, company size, geographic region, how the services or products you provide will work with other tools that customers use and specific pain points. (RampedUp takes the customer look alike approach by examining your existing customer base to define your ICP)
- Find the decision makers: When working an ABS model, a single point of contact with an account isn’t enough. Instead, you’ll pinpoint the ideal responsibilities and roles of your target personas and target specific people, such as CEOs, sales managers, sales reps and account executives within an account to set meetings and expedite the decision making process. (Defining the Buying Committee is a deductive process of starting with all the titles involved in a successful installation of your services – from evaluation to training.)
- Create an individualized approach: When content is personalized at the sales-rep level, you will see a boost in conversions. With ABS, you can tailor an individualized approach that specifically addresses the interests and pain points of the decision maker with whom you have connected. (We recommend using IceBreakers when approaching a new account that rises above the noise of other demand generation plans.)
- Develop an organized plan: The sequence of your emails, phone calls and more, should be compiled into an organized plan. This will let you track where you are in your approach and how the process is progressing. You’ll also be able to pinpoint what worked and what did not, enabling you to tweak your approach to the next account. (When you call your prospects – call them directly for a 147% better chance of setting the appointment. )
Account Based Selling isn’t new – the renewed focus on it is however is the new normal. Bill Johnson, CEO of Salesvue and Scott Miller, Founder of RampedUp discuss how to set up an Account-Based Selling organization – register (or review) the webinar here.