This brief video explains how retaining the details around your closed won deals can create the building blocks of an Account Based Sales Organization.
Salesforce is the lifeblood of your organization and the main tool your sellers need to make it through their day. Sure, there
are other sales technologies and even LinkedIn for prospecting but Salesforce.com holds it all together. With the app exchange, most organizations make it the hub of all their sales tech. The problem, however, that sellers spend 27% of their time focusing on non-sales related activity because a lot the data they need isn’t accurately reflected in their Salesforce.com. Try these three simple ideas to keep your CRM accurate and updated.
Clean the data as it comes into Salesforce.com. The premise is simple, use the leads table to qualify contacts, companies, and opportunities before they care converted into permanent records. Do not allow users to add any company or contact data into Salesforce.com unless it starts as a lead and make it functionally impossible through permission settings.
Once this policy is in place, add real-time lead appending to clean leads as they come into your system. In an early blog I wrote the importance of contacting leads as soon as they come into your organization and lead appending will ensure this will happen. If you have one point of entry into Salesforce.com and the point is reinforced with a cleansing tool, your data will enter current, complete, and accurate.
Empower the users. Although up to 5% of the inaccuracy in your CRM originates from misspelled or misrepresented data from the users, empowering the users to clean up their own mess benefits the database overall. After all, who has a more vested interest in the cleanliness of Salesforce.com than the sellers themselves?
The key to Account-Based Selling is a clean Salesforce.com. By deploying a utility that corrects the company and contact data inside and account record, sellers can become part of the solution instead of the problem. An account cleansing tool will empower the user to clean up the accounts and contacts that are important to them and thus important to the entire company. Old contacts will be labelled as such and their replacements will be imported ensuring the entire buying committee is represented.
Systemic Cleaning. The Bureau of Labor Statistics reports the average person changes jobs ten to fifteen times (with an average of 12 job changes) during his or her career. You can see the impact this has on your contact data by a rate of decay at 25% – 36% per year. That has a very tangible impact on the health of your CRM but also a great opportunity to follow your old customers to their new jobs for quick wins.
Data decay presents most prominently within the contact data table and we recommend cleaning / updating contact records every 90 days. The impact will be updated titles, email addresses, and locations while identifying INACTIVE contacts that have moved to other companies. We recommend keeping the old record and labeling it INACTIVE then create a new lead for the individual at his or her new company.
RampedUp is a tool born inside of Salesforce.com so of the functionality above is “native.” Real-time lead appending, user deployed account cleansing, and systemic contact clean / append are truly simple ways to keep Salesforce.com accurate and updated. The impact is an overall cleaner database that will produce more productive sellers and marketers.
With two months left in the year many Account-Based sales and marketing professionals are switching their focus to closing out the year and planning for 2018. If you are one of these people let me say one thing. STOP! There is still time left to add to the pipeline this year if you know what you are looking for.
Find your old customers at their new job. Think about all the branding, familiarity, and trust you have built with your customers that just walks out the door when they take a new job. It’s maddening! Unless that person contacts you when they start their new gig – it is all but impossible to find out where they landed. We live in a transient society where the workforce turns over 2-3% every month so this is a problem for all of us – or better stated an opportunity.
RampedUp tracks employment history on our contact records and our CLEAN functionality will identify the loyal, raving fans that have left their old company. We will also tell you where they are employed today in the form of a lead in Salesforce.com – complete with title, email and phone number to reconnect. The process is so simple and impactful it can be done today literally with the push of a button. Account-based sellers can go to their book of accounts – press the CLEAN button on RampedUp – then create leads of old customers that have moved to new companies.
Think of the shortened sales process a former customer requires to move your service into their new company. You have already branded, marketed, sold, and serviced this person. Go find them to make an impact this year!
Find new executives at their new job. New executives are brought in with new agendas and initiatives. Craig Elias – author of Shift – Turn Prospects into Customers states, “A new Vice President of Sales will spend close to a million dollars in new projects in their first hundred days.” It goes without saying that new executives are empowered with decisions that are not dictated by the calendar and want to make in impact between now and the first of the year – so help them.
RampedUp monitors the news wires for triggering events and provides our customers with the very first Trigger Event search engine. We categorize our triggering events into 13 categories but perhaps the most popular is the PERSONELL field. Users can select the PERSONELL field, and firmographic filters important to them such as company size, location, industry or technology the company uses. The result is an actionable of new executives that fit search parameters. Last week alone we identified 4000 new executives – all with new agendas that you can help execute.
A little trick in building instant credibility with these new executives is to send them a LinkedIn invite and congratulate them on their new role. This will almost always get accepted as the new executive doesn’t know if you are a current vendor, friend of the firm, or well wisher.
In summary – it’s not too late to impact this year’s pipeline. Look for your old customers at new companies and help them get your solution in its rightful place. OR find new executives that aren’t going to wait until next year to get their agendas off the ground. Let us know if we can help you with either or both.
Account based selling is a methodology that focuses an organization’s sales efforts on a select number of accounts that are most likely to buy your products and solutions. Organizations can set up an account-based selling strategy in three steps; one – identifying the companies that would be ideal targets, two – identifying the people that work at those accounts, and three – giving those accounts reasons to evaluate your solution.
The first step is to identifying ideal prospects is to look in the current customer base by firmagraphic details. Most companies will look for customer accounts by similar size, location, industry, revenue, and tech stack. Stated otherwise, if your best customers are in a specific industry, have a certain number of employees, and deploy a competitive or complimentary technology – then companies that also fit that profile will be your best prospects.
The trick to identifying these accounts is by “cleaning” them inside of Salesforce.com. A cleaning will update or complete key fields such as Industry, Revenue, Employee Size, Tech Stack, and Location. After cleaning Salesforce.com, run a report of your current customers including these new fields. With these results, look for the fields that have the largest representation to begin your target account selection process for prospects.
The second step is identifying the people that are making decisions at your targeted accounts. While it might seem intuitive, a great exercise is to reverse engineer your sales process to uncover all the stakeholders.
These titles and the people that own them should exist inside of Salesforce.com. After all, companies don’t buy anything, people do. If it has been a while since you have “cleaned” your contact records then it would also be a good idea to identify the old records of people that don’t work at your target accounts any longer. B2B data expires at a 2-3% clip per month per Hubspot after all.
The third step is to have something to say to your targeted accounts. A good idea is to tell them why they are targeted accounts in the first place and sharing some use cases by similar industries, sizes, or locations. If a piece of their tech stack competes with the technology your company sells, then a quick blurb on the benefits of your differentiation will help.
Referencing recent events about the targeted account also helps. These events can be new personnel, new products, awards, corporate expansion, or funding. Companies will promote these events on the news wire or the social media pages like Facebook, LinkedIn, or Twitter. The idea behind referencing events is taking the concept and sharing how you have helped other companies in similar positions. As example, if there is a merger, explaining how you have helped other companies with mergers of duplicate systems and processes. Simply referencing the event and congratulating the stakeholder is not enough.
In closing, these three steps can give you the directional path for setting up Account Based selling in your organization. RampedUp can help as well as we have automated much of this inside of Salesforce.com.
The first Outbound Conference is being hosted in Atlanta GA the week of April 10 at the Intercontinental Hotel by some impressive thought leaders as @SalesGravy and @thesaleshunter. Anthony Iannarino (@iannarino) explains, “The morning will consist of four keynote speeches, all centered around the themes of Prospecting, Pipeline, and Productivity. The afternoon sessions will include five workshops, including one by special guest, Laura Madison (@lauradrives).” If you are going – keep in mind how Account-based selling can improve your rate of return
- Prospecting – I wrote this blog about How to do Account-Based Prospecting. Set up a 5X5 prospecting cadence that uses triggering events and relevant use cases over a short period of time to get your prospects’ attention. Of course, we use the phone and email over a 5 day pattern to ensure we are getting our prospects attention.
- Pipeline – Q2 is upon us and if you didn’t make your Q1 number you need to close this quarter out strong. I wrote this blog post on how to Close out Q2 Strong focusing on getting past the ROI argument, prioritizing your pipeline, and uncovering a source of urgency to close deals.
- Productivity – Sales people spend 22% of their time on non-sales related tasks such as trying to find data that should already be in salesforce.com. By putting contact, customer, and company data all in one place you can give your reps that time back. Stop spending hours preparing for a sales call and use the three minute rule – with the right tools – to be a more impactful seller.
If you are at the Outbound Conference, look me up or send me a note through the website to connect – https://rampedup.io/contact/ Thanks
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!
The art of converting a web visitor’s attention is daunting. First, you have to decide your intended audience, what they would like to hear, and in what median you should deliver it. Second, you have to have a perfect balance of content and teaser – give away too little and they will leave, give away too much and they won’t need to engage further. Third, what information do I ask for on the web-form, the bare minimum will give the most quantity whereas more required fields will give the best quality.
As you consider this quandary, these are 5 reasons companies append leads in Salesforce.com in real-time:
- Buyers are lairs – A recent survey found that 70% of Online forms are purposefully completed with inaccurate or incorrect information! The reasons are obvious, the applicant wants your gated content but doesn’t want to be solicited in return.
- If you’re not first – you’re last – Research from InsideSales.com shows that 35–50% of sales go to the vendor that responds first. Incomplete leads don’t receive the same level of urgency and attention as their more complete counterparts. This particularly impacts routing hot leads to BDR’s. It is hard to route a lead if you don’t know much about them.
- Lead scoring – Accurate contact and company detail provides the ability to better score a lead. The issue, however, is asking for information such as title, company, industry, size, revenue, and phone tends to be what prevents conversions in the first place. The proverbial catch 22.
- Progressive profiling – This is the concept of building on your understanding of the lead and asking for more contact detail in exchange for gated information. The best companies ask for information not publicly available and is unique to their sales process. Those questions can be where they are in the buying process, budget, or availability for an appointment with a rep.
- Hiding behind Gmail – Oftentimes, our web visitors will use a gmail address to remain anonymous. One way to get around this is to require a business email address but you will watch your conversions drop decidedly. With autocomplete functionality in most browsers, this is has become a preferred method to quickly exchange contact details for gated information.
Many companies are looking for a way to overcome the quantity vs quality conundrum and have found that real-time lead appending works. This is the process of taking the barest of information on the online form and appending it with contact and company detail for a rich lead record. In turn, inaccurate and incomplete data is corrected and routed to the appropriate personnel for a timely response. That includes Gmail addresses! Leads are scored based on behavior but also contact and company detail – thus identifying hot leads in target companies.
RampedUp enables real-time lead appending inside of Salesforce.com. The results are just as you would expect. Previously unknown visitors are profiled and contacted. Leads are routed based on qualification metrics and nurtured based on that qualification. And lastly, BDR’s spend their time contacting leads instead of researching them – leading to increased productivity.