Optimizing Inside Sales with ABM Strategies
July 23, 2019
Businesses have begun to understand the importance and impact an account-based marketing (ABM) strategy can have on their success. Most account-focused outreach efforts originate from inside the sales team. This method is common in B2B; sales representatives reach out to a decision-maker within a target account with the intention to provide a solution to that company’s problem. However, without increased alignment between the sales and marketing teams, your ABM strategies may not have the power to drive the bottom-line results you’re looking for. It’s important for companies to follow these lead generation tactics in order to optimize inside sales with your account-based marketing strategy.
Account-Based Marketing (ABM)
The solution? Aligning sales and marketing outreach efforts and focusing on a limited number of key accounts, identifying all decision-makers within those accounts, and designing sales and marketing strategies personalized for each of those decision-makers. Personalization then becomes integrated into your ABM strategy, engaging each prospect based on their specific attributes and needs. 87% of marketers have found that with a personalized content strategy, ABM yielded significant results compared to other marketing investments. If executed right, ABM is a smart step to drive your accounts down the sales funnel.
Optimizing inside sales with an ABM strategy involves these key lead generation steps:
Identifying the Target Accounts
Depending on the nature of your business, you will want to focus on prospects whose problems match with your solutions. Dive a little deeper into each company to ensure your strategies align with the prospective client. For example, you may want to increase long-term revenue within a specific industry vertical or a set of accounts based on your organization’s BANT requirements. If your goal is to expand into new regions, then you will need to identify accounts that meet your company’s requirements within those regions.
Remember, that with account-based marketing, it is always best to start with an account list that is manageable for the marketing and sales teams to support. You may have a long-term goal to develop ABM campaigns for 200 accounts or more, but keep in mind the amount of research and production that is required to build each campaign successfully.
Once you identify your target accounts, assemble a team who can pull together an effective ABM program. Focus your efforts on aligning the strategies between the sales and marketing teams. For instance, you can assign an ABM group marketing manager responsible for campaigns. Sales teams then can add these to their proposals while tracking the progress on the target account.
Researching Your ABM Target Accounts
Dive deeper into your identified accounts. Get possible insights from your sales team on accounts, based on prior conversations. This can give you a better idea of the demands of each prospect, and how they communicate with your sales team—for better personalization efforts. Looking into CRM history can help uncover prior relationships and interactions with potential customers that can be targeted by your ABM strategy. It’s important to know all aspects of the market, conducting research on your competitors and their clientele. There are existing digital tools to help you uncover the companies using your competitors’ products and services. Narrow down your list and focus on those you want to target. From these chosen accounts, identify the decision-makers and their roles.
Creating a Content Strategy for Each Account
Now that you have a refined profile, involve your marketing team to create personalized marketing collateral for each account’s decision-maker. Come up with a flexible content strategy applicable across all accounts. Map a customer’s journey process along with intended outcomes and target timelines. Later on, this will complement your account-based selling strategy to progress the sales process for specific accounts. Doing this will make your accounts appreciate that you speak directly to their needs. Establishing this impression with prospects can accelerate the buying process and bring in increased profitability.
Tracking Success Metrics
Unique key performance indicators (KPIs) must be created around accounts where ABM was implemented. This way, you have the data to track how your teams perform as well as identify points of improvement within your ABM strategy. Such metrics include the number of engaged new accounts, win rate, and sales pipeline contribution. Ultimately, it is ROI that can visibly measure how successful your ABM campaign performed. Results from Account-Based Marketing surveys showed that among their marketing tactics, businesses were able to gain the highest ROI from implementing an ABM strategy.
If done right, ABM can shorten the customer’s journey towards purchase. Your company can win bigger deals while saving time and wisely allocating resources to results-yielding activities. ABM is a comprehensive and organized step in the right direction to aligning sales and marketing. It is an investment to yield long-term increased revenue, improved branding, and eased operation results.
Account-based marketing strategies have the power to drive bottom-line results with personal and optimized tactics alongside increased alignment between sales and marketing teams. Is your account-based marketing strategy fully optimized? Elevate your ABM strategy with DemandScience.