Top 3 Tips for ABM Success- by Steve Woods

STEVE WOODS | September 6, 2016

article image
Selling to accounts with complicated buying processes and multiple stakeholders with different agendas is a complicated and tricky challenge. This is not new, but recently it has come into clearer focus as new technologies and approaches have been developed and popularized. Regardless of technology, in order to succeed, an organization needs to understand, grow, and manage the relationships that will be important in the decision. Doing so requires discipline and long-term thinking, but doesn’t involve any specialized skills or advanced techniques. In fact the top three drivers of success in account-based selling are surprisingly unsurprising:Dig your Well Early.Relationships are built on trust, and trust is built over time. To be successful, you need to find ways that you can build trust over time, and that comes down to helping someone before you ask a favour of them or try to sell to them. It can be hard to know where the right support, introduction, or influence will come from, so build relationships throughout an organization. This means both in terms of level in the organization and functional role or department. Successful deals are often influenced by very unexpected stakeholders, so the broader the set of relationships you have, the better.Think “Relationship” not “Deal”.The worst thing you can do to a relationship is to rush towards a sales pitch. Nothing makes it more clear that the only thing you want is a transaction. To build a relationship, look for things outside of the project at hand. Get to know each person’s motivations, career goals, current challenges, and interests outside of work. Each gives you and opportunity to find ways to help, stay in touch, and build trust. The more you build trust in ways that are unrelated to the deal at hand, the better your chance of being seen as a good partner on the deal when it does come to a decision.Leverage your Full Team.Relationships with an account exist across your entire organization, from the front-lines to the executive suite. The also exist outside of your organization in the web of advisors, investors, and advocates that surround your business. Only if you know the strength of each relationship that your team has with each person in a prospect organization will you truly be able to guide the activities your team needs to do to develop the important relationships. Connections are only a starting point; any relationship that is to be of use in account-based selling is one where trust has been developed over time.

Spotlight

Saglus

Saglus offers marketing automation solutions to automate Visitor Engagement, Lead Acquisition & Customer Retention for marketers and small businesses in a smart way.

OTHER ARTICLES

Using Intent Data Throughout the Customer Journey

Article | April 13, 2020

Intent is an indicator that an account is interested in a certain topic, based on the content consumption of people within an organization. I know that sounds a bit abstract, so let’s look at how it actually works. Let’s say that Gio is looking at some content on marketing attribution. Gio is a Marketing Operations Specialist at Whale Enterprises, and he’s considering buying some new software. Gio’s research is creating intent data that can be tracked by intent providers, who can then let marketing attribution providers know that Whale Enterprises is showing intent to buy a marketing attribution solution.

Read More

What Does A Good ABM Strategy Look Like?

Article | March 2, 2020

For instance, if you’re a small business with limited time and marketing resources (read: people and cash), it may not be feasible to target specific accounts. But for those businesses with the manpower and money required to implement ABM successfully, it has the potential to yield incredible results. Account-based marketing helps to fully align sales and marketing efforts, accelerate the sales process for your most valuable opportunities, and generate a significant return on investment from your marketing campaigns. But what does a good ABM strategy look like, and what’s involved in the build and delivery?

Read More

How Lead Nurturing Works In Account-Based Marketing?

Article | March 12, 2020

Lead nurturing is the automated process of sending personalized and relevant content to prospects and customers at every stage of their account life cycle. It focuses on marketing and communication efforts on listening to the demands of prospects and providing the information and answers they seek.

Read More

PLANNING FOR ABM? OVERCOME THESE COMMON CHALLENGES

Article | March 20, 2020

Account-based marketing (ABM) has gained a firm foothold in the B2B marketing world. According to Information Technology Services Marketing Association, ABM is defined as “treating individual accounts as markets in their own right.” Basically, you as a marketer are taking personalization to an elevated level. Making the leap into ABM marketing is highly recommended to improve your marketing ROI, but without proper planning, finding success could become a struggle. The only way to reduce the potential risks associated with virtually any strategy is to develop a comprehensive game plan. Effective planning will result in increased buy-in from upper management, effective training and development, acquisition of the right ABM tools, the accurate collection of data, and ultimately a boost to your strategy success.

Read More

Spotlight

Saglus

Saglus offers marketing automation solutions to automate Visitor Engagement, Lead Acquisition & Customer Retention for marketers and small businesses in a smart way.

Events