Want to find out the best prospects with just one click? And If you have any marketing campaigns that need some tweaking for your target demographic? No problem - with Account Based Sales, we'll help customize them even for specific accounts too.
What is Account Based Sales?
Account based sales is a new way to approach prospecting, lead generation and customer engagement.
ABS focuses on assigning each account or market segment with an Account Executive (AE) who will own the relationship from beginning to end.
Rather than trying to sell prospects on everything your company offers, you'll instead be narrowing in on one solution that aligns with their needs and interests - which can mean more conversions for your team.
Learn how this approach can help turn qualified leads into customers by reading our blog post!
Is Account-Based Sales Right for You?
Just because Account Based Sales is a new way of doing things doesn't mean it's for everyone.
It only makes sense if your company has more than one solution to offer and you have enough in-house resources to dedicate specific account executives (AEs) to each area.
If you're not sure if Account Based Sales is for your organization, consider these questions:
- Do you have more than one solution?
- Is your company large enough that it warrants dedicated account executives (AEs)
If the answer is yes to both, then Account-Based Sales is a good fit for you and is highly recommended.
Top 5 Tools for Account Based Sales
- Leadfeeder - LeadFeeder lets you know when your target accounts visit your website. You can then reach out to those people with tailored messages and offers.
- LeadGenius - LeadGenius analyzes your target accounts' activity across the web & alerts you when they engage with competitors, so you know exactly how to respond.
- Vainu - Vainu analyzes your customer database, identifies potential sales prospects, and returns a list of best-fit leads in seconds.
- Datanyze - Datanyze finds company contact data like email addresses and phone numbers, and then goes beyond to find your next customers.
- ZoomInfo - ZoomInfo is a leading Account-based Sales provider of sales intelligence information. It provides B2B information for both Sellers and Buyers.
How to implement Account-Based Sales?
Step 1: Assess the cultural fit of ABS in your company
- Consider the organizational culture
- Review HR policies and SOPs for ABS to see if it is suitable in your company.
Step 2: Create your ideal customer profile (ICP)
- Identify the customer and their needs.
- Assess what is important to these customers in relation to how they purchase, contact you and buy from you.
- Use these key attributes to help you create effective customer segmentation:
- Annual revenue
- Employee size
- Current subscriptions etc.
Step 3: Establish the buyer personas
Identify the people who have a vested interest in your product from managers to sales reps.
List all of those roles and make sure that you assign responsibilities to each so they're clear about what their job is going forward.
Step 4: Set success metrics
The important account-based sales metrics are:
- Customer Acquisition Cost
- Average Deal Size
- Lifetime Value.
Focus on what your CAC looks like? How much value do you generate from each customer over time?
Step 5: Create ABS resources
To create a successful account-based selling campaign, it is necessary to research each stakeholder's goals and pain points.
Sales should collaborate with Marketing in developing compelling content for every milestone of specific buyer journeys.
Step 6: Execute the plan
Even the best plans in the world mean nothing if you don’t execute on them!
Make sure to focus your efforts where it counts most - executing an infallible strategy with all of its orders intact.
This is how we can turn our customers into loyal ambassadors by giving them what they want before even realizing it themselves when at their happiest moments!
Hope this post was a useful and helped you understand Account Based Sales and its implementation. Thank you for reading!