Account Based Selling (ABS) is a program that focuses in on a target account’s unique challenges with messages and content that are customized and personalized. Essentially the program orchestrates the flow of phone calls, emails, and meetings to deliver timely and relevant content to drive the engagement needed to influence all the stakeholders within a target account.
The engagement happens because your content and interactions are tailored in a way that shows target accounts how your specific product or service solves their unique challenges and helps them achieve their objectives. With Account Based Selling you present insights and information in a way that makes it the most relevant and the best option for your target accounts.
Keep in mind that Account Based Selling is a team effort. Team selling is a sales strategy commonly used in account-based selling to close more deals. Simply put, team selling is a collaborative sales approach where two or more team members work together to win business. That’s why it’s important to ensure the appropriate sales support team members are involved in account planning. That’s why it’s important to ensure the appropriate sales support team members are involved in account planning.
Equally important is the creation and sharing of personalized content to reinforce how your solution can solve a problem or achieve a desired result. Creating the content is an essential step, but not the first step. Here are some steps to consider when developing an Account Based Sales Plan.
1. Identify the accounts you want as clients
Identify and list the specific accounts you want to target. Include current accounts with cross sell or up sell opportunities as well as known prospects that fit your ideal customer profile (ICP). Note: Prospecting to add new accounts is essential to be sure your pipeline remains healthy.
2. Get to know them
Before you can target these accounts with any messaging, you'll need to know who within these accounts are decision makers, influencers, and users or operators. Research these accounts and consider developing a stakeholder map of roles and reporting relationships.
3. Identify insights, implications and ideas
Before you can target these accounts with any messaging, you need to know what information or content would speak to them and resonate with them. Start with listing insights around industry trends, new technologies, or new regulations. Identify the implications of these insights and offer some ideas on how to address these challenges.
4. Start brainstorming and creating content for the target accounts
Develop content to create conversations and engagement. Make sure the content provides insight, perspective, and is relevant and worthwhile for them. The sales team would work with the marketing team to create the content. The content would be available in a content management system (CMS) or sales enablement platform. Ideally the sales team would be able to customize and personalize the content when needed.
5. Distribute content
Be proactive and do everything you can to get your content directly in front of the people at the accounts you are targeting. Make your message stand out. In addition to sharing content through email, call attention to content on industry sites and in social media. Drip feed information over a period of time and use the information you send to start conversations.
6. Measure, measure, measure
Measure your efforts. Set tangible goals around your tactics, and measure how close you are to achieving them. Start with analytics in your sales enablement platform. Follow prospects on social media and use other channels of communication.
Implementing an Account Based Sales plan may the right approach to advance sales cycles, reduce sales cycle time and ultimately result in higher win rates.
Implementing an Account Based Sales plan may the right approach to advance sales cycles, reduce sales cycle time and ultimately result in higher win rates.