Account-based marketing (ABM) is a powerful tool when used properly—and a challenging approach if the right strategies are not efficiently put in place. While many companies say that they have doubled their ROI from using ABM, there are still some organizations that are not maximizing their ABM efforts.
What are the missing ingredients for ABM success?
- Alignment with the buyer’s needs.
Regardless of the industry that you’re operating in, being aware of the buyer’s needs and demands is an essential indicator of sales success. Whether your prospects are just starting their buying journey or they are almost closing the deal, you should always think from their perspective and be very attentive to their needs.
2. Hitting the perfect timing.
They say life is all about timing and in marketing this couldn’t be truer. How do you know when it’s the right time to step into the buying cycle and connect with your potential customer? You need to stay informed regarding your prospect’s activity and interests and spot the most convenient time to jump in and offer your product.
3. Good communication between marketing and sales.
Businesses that align their marketing and sales teams grow their revenue 24% faster than companies that don’t. In the increasingly competitive digital era, companies need to shift their strategies towards a more holistic, personalized model that can keep up with emerging trends. Sales-marketing alignment is a factor that differentiates successful businesses from mediocre ones, especially in the B2B marketplace.
How can you reach more decision-makers?
Once you’ve mastered the art of ABM, you might want to consider your sales prospecting strategies. According to a study, 50% of the time invested in sales is wasted on inefficient prospecting.
As the digital landscape is continually evolving and shifting towards different mindsets, one thing remains clear: sales prospecting means creating business.
“To Build A Long-Term, Successful Enterprise, When You Don’t Close A Sale, Open A Relationship.” – Patricia Fripp
How to do the prospecting research
In the digital era, automation is considered by many as the holy grail of modern sales. However, streamlining lead generation with software is a limited process that might generate positive outcomes in the short term. Businesses with forward-thinking mindsets know that cutting corners in sales prospecting research is not a winning strategy.
In 2021, data is everywhere, so research might need to look a little different.
When qualifying outbound leads, sales reps rely heavily on the ideal customer profile (ICP). However, there are some universal elements worth considering for outbound lead research, such as:
- Key Industry Challenges. It is highly possible that the leads you are targeting within your outbound practices may not be aware of their problems. That’s why highlighting industry-specific issues that might directly affect your leads is a great way to catch their attention.
- Showcase different solutions, not just your own. After acknowledging their problem, people want solutions—more than one so they can choose the best option. At this point, include your offering on a list of vetted answers and showcase other solutions outside your own. This step is quite persuasive and it can also offer immediate value to prospects.
- Reach decision-makers. These prospects are part of the middle management or higher, which means they have the buying power. Gathering insights on these personas can lead to more accurate and useful ICPs that match your outbound goals.
Wrapping up
Sales prospecting strategies work best when transformed according to key changes in the buyer’s demands and behavior. This requires tools that can help organizations track their users’ activity and intent, thus providing a clearer picture of the buyer’s journey.
In other words, be mindful of your potential customers, get to really know them, and invest resources in providing personalized content. In this way, you are nurturing a possible long-term relationship, which is the ultimate goal of your sales efforts. Focus on identifying and prioritizing those sales opportunities that match your profile and your business model.
