ABM is a highly targeted marketing strategy, where you direct your selling strategies toward the most meaningful, and important accounts
While that may work for some industries, account-based marketing is a lot more effective for B2B companies that are maintaining high-value accounts. Intuitively, collaboration between sales and marketing can produce some of the most fruitful results. Those beneficial results are what account based marketing, or ABM, offers to salespeople.
ABM is a highly targeted marketing strategy, where you direct your selling strategies toward the most meaningful, and important accounts. Taking an ABM approach allows you as a salesperson to save time, and focus on driving up win rates by working with accounts that only fit your ideal customer profile. That is, optimize your marketing strategies to target the accounts that fit your company the most, and ultimately reflect a sales team’s good performance. Essentially, ABM flips the traditional lead/inbound marketing strategies approach to sales on its head. Yet, as scary and non-traditional as it can sound, it is highly effective in increasing win rates because it offers a unique, personalized customer experience tailored to only the most fitting clients. Account based marketing is a business-to-business sales strategy and it's ideal for practically any sales team.
First, you create a list of your most valued accounts, that is the ones you hope to retain and close a deal on. Then your sales team personalizes the customer experience for each of these accounts using a combination of marketing and sales strategies. This mainly includes using ABM technologies and tools that utilize non-traditional, targeted marketing and sales strategies to focus on certain leads at the company and the entire account. Traditional methods of ABM can also be used without any platforms, these activities can include webpage personalization, direct mail, webinars, events, and more. However, ABM technologies can also be used at scale, thus increasing the efficient allocation of the marketing budget. ABM accelerates and enhances the sales process while increasing your win rates, and it may be time for you and your sales team to take a closer look at this innovative strategy.
To implement a successful ABM strategy, frontline teams should follow three key steps:
This doesn't mean finding the company that generates the most revenue. This means finding a client who will be a repeat, ongoing, customer and one with a lot of potential for growth.
If your marketing team is generating leads that the sales team doesn’t follow up on, then there is a major alignment issue. To realign your teams create common goals and strategies that both groups should jointly meet. Delegate actual tasks and responsibilities for both departments, and in that process also begin looking at sales as a revenue cycle rather than a traditional funnel that keeps these two teams divided.
When you’re conducting a sales call, you and your sales team should focus on listening to the client to build a concrete relationship. Account-based marketing strategies will be futile if you or your sales staff are distracted by the pressure to perform your best while taking notes, creating a meaningful relationship, and remembering everything important about the meeting. That’s where a platform like Flyte comes into play. Flyte generates unique insights into the quality of your team’s sales calls. Additionally, Flyte flags the key takeaways from each sales call such as repeated mentions of certain customers or products, giving your sales process a competitive edge.
Platforms like Flyte can help your sales team cultivate meaningful client relationships. Flyte’s advanced AI captures the most important bits from your sales calls, and helps you understand stakeholder's preferences.
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Keywords: AMB, Account Based Marketing, Sales, Outreach, Tech Stack, Marketing, Accounts
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