Account-Based Marketing. Account-Based Prospecting. Account-Based Sales. You've probably heard one of these buzzwords lately and thought to yourself, What's everyone talking about? These terms are not at the fad level of say, Six Sigma, BPO, Core Competencies, MBO's, or many other business ideas now part of the lexicon. But it's a brave new world and the Account-Based movement is here to stay.
The reason Account-Based strategies are sweeping across the business landscape is as simple as you might expect: By focusing efforts more narrowly on companies likely to need your product or service, you're both more effective and efficient.
So what are you waiting for? Here's seven strategies that promise to make your Account Based Sales soar:
- Create your Ideal Customer Profile (ICP). This is mandatory. And actually worth thinking about long and hard. Who would be the best fit for my product or service? Who at that organization would benefit most-users and buyers? Who else is involved in a sourcing decision? What are their titles? What size of business are they? Where are they? What departments matter?
- Audit your current customers. Do this after creating your ICP. Identify the gaps between your Ideal and your Reality. Bonus points for identifying and including those customers who have churned or stopped using your service. Is this cohort telling you anything about your true Ideal Customer Profile?
- Isolate targeted logos to win each year. Pick your 25 or 50 dream wins. Then incentivize the sales team to knock them down. In this case, more purposeful is more targeted.
- Assign Account-Based Prospecting to your sales team. According to CSO Insights, sales research can take up to 25% of a salesperson's day. If that's the case in your company, it's a wise move to use tools like KiteDesk that enable account-based prospecting to ensure that time is ultra-productive. You'll see a 12-minute lead capture via traditional search methods turn into a 9-second lead capture with KiteDesk (including validated email address and phone number). Instant efficiency and effectiveness.
- Impose sales swim lanes. Without rules of engagement, your sales team will inevitably fight over the same turf at some point. Don't let them-unless you like playing referee and risking total embarrassment with qualified targets.
- Integrate Account-Based Marketing. Your Marketing content shouldn't be for everyone. It should be targeted to specific customers in a tailored fashion. Not just specific points in the funnel, but geared to titles and roles, as well. Bonus points for creating content specifically to fit customer journey lifecycle stages.
- Let prospects in on the Account-Based action. There's a special place in the hearts of all who know they are being courted. Objects of affection, if you will. Some call this Customer Advocacy, but it's just a smart way of amplifying the voices of those who will already testify to your product or service benefits. At my startup Outro, we help those same people who love your product, make 10x the referrals they would have otherwise made for you.
Account-based marketing, sales, and prospecting simply focuses on a tighter prospect approach, with an expectation that giving potential buyers relevant content and a thoughtful sales experience will turn fewer, carefully chosen prospects into more valuable customers.