Account Based Selling

Account-based selling is a strategic sales and marketing approach that focuses on engaging high-value customers. In account-based selling, sales and marketing teams work closely to identify key accounts parallel to the organization’s ideal customer profile.

What is account-based selling?

Account-based selling (ABS) is a strategic approach to sales and marketing that focuses on targeting and engaging high-value accounts.

In this approach, sales and marketing teams work closely together to find ideal target accounts that center the company’s target market and revenue potential. After the target accounts are identified, sales and marketing teams collaborate to develop customized strategies.

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What is an account-based selling framework?

The account-based selling (ABS) framework is a structured approach that outlines the steps and processes involved in implementing an account-based selling strategy. It provides a framework for targeting, engaging, and closing deals with specific high-value accounts.

How to build an effective account-based selling strategy?

Some best effective practices for implementing account-based selling effectively:

Identify ideal target accounts
Align sales and marketing
Build customized account
Personalize your approach
Engaged multi-channel approach
Provide value through insights
Measure and analyze
Foster collaboration with customer success
Iterate and improve

Identify ideal target accounts: Identify and segment the target accounts initially based on the factors like revenue potential, industry fit, and strategic importance.Keeping the prioritized account and converting it to potential value.
Align sales and marketing: Account-based selling accounts to close collaboration between the two, ensuring that both teams align on target account selection, messaging, and the goals of the accounts.
Build customized accounts: Identify key decision makers within the target accounts and build strong relationships with the team.
Personalize your approach: Approaching the sales target account by tailoring the process and crafting a personalized message highlighting the unique value proposition that products or services provided to address the challenge.
Engaged multi-channel approach: Using multi-channel is a win-win approach as it helps to engage the target accounts, which may include phone calls, emails, social media interactions, and many more.
Provide value through insights: Share valuable insights and industry knowledge with the target accounts.
Measure and analyze: Measure and analyze the effectiveness of the account-based selling efforts. Track key metrics such as conversion rates, pipeline growth, and revenue generated.
Foster collaboration with customer success: Ensure a smooth handover to the customer success team after the deal has been closely successful.
Iterate and improve: Account-based selling is an iterative process. To improve the services, gathering continued feedback is necessary as it helps the organization improve strategies and approaches.

What are the top 10 account-based selling tools?

Top 10 account-based selling tools are as follows:

Terminus
Engagio
Demandbase
6sense
Evergage
RollWorks
Bombara
LinkedIn sales navigator
Uberflip
Clearbit

Terminus: Terminus is considered a one marketing platform in marketing as it helps in identifying, targeting, engaging, and measuring target accounts. This platform offers features like ad targeting, website customization, email marketing, and analytics.

Engagio: Engagio is a comprehensive account-based orchestration platform that enables you to align the sales and marketing team, engage target accounts and track engagement metrics. It provides account-based multi-channel orchestration capabilities.

Demandbase: Demandbase is a widely used platform that helps to identify and target key accounts. It allows us to do website personalization, account insights, and engagement analytics.

6sense: This AI-powered account-based orchestration platform allows you to identify and prioritize target accounts, predict buying intent, and execute customization marketing campaigns.

Evergage: Fosters to be a real-time customization and customer data platform that enables personalized content, recommendations, and many other features.

RollWorks: RollWorks, is an all-inclusive platform that assists sellers and marketers in identifying and engaging with target accounts.

Bombara: Bombara comes up with a unique method for gathering content data and deploying powerful internal IPs.

LinkedIn sales navigator: Considered a powerful tool, it gives the opportunity to get target prospects, allows to generate leads, and builds relationships.

Uberflip: Uberflip is a platform that creates tailored content digitally for accounts. It allows the integration of CRMs and other marketing tools to measure the impact of account-based marketing.

Clearbit: Clearbit is a B2B enrichment tool platform that helps to involve more knowledge about the contacts. This tool filters the ideal prospects based on the category and allows the identification of anonymous website visitors.

Give account-based selling examples.

Here are a few examples of account-based selling:

Personalized outreach: Instead of boiling the content to generic sales emails, ABS tailors messages for target accounts. For instance, A software company targeting a particular enterprise account might research its pain points and send customized emails highlighting its solutions to address specific needs.
Content personalization: ABS fosters delivering content that speaks directly to the pain points of target accounts. The content is tailored according to the needs. It demonstrates the value that is provided, involving account-specific sheets, webinars, and other features that showcase how products or services can solve unique challenges.
Target advertising: Providing running targets as campaigns highlighting specific accounts. For instance, a B2B marketing agency might create display ads that show decision-makers within the target accounts.

Employee pulse surveys:

These are short surveys that can be sent frequently to check what your employees think about an issue quickly. The survey comprises fewer questions (not more than 10) to get the information quickly. These can be administered at regular intervals (monthly/weekly/quarterly).

One-on-one meetings:

Having periodic, hour-long meetings for an informal chat with every team member is an excellent way to get a true sense of what’s happening with them. Since it is a safe and private conversation, it helps you get better details about an issue.

eNPS:

eNPS (employee Net Promoter score) is one of the simplest yet effective ways to assess your employee's opinion of your company. It includes one intriguing question that gauges loyalty. An example of eNPS questions include: How likely are you to recommend our company to others? Employees respond to the eNPS survey on a scale of 1-10, where 10 denotes they are ‘highly likely’ to recommend the company and 1 signifies they are ‘highly unlikely’ to recommend it.

Based on the responses, employees can be placed in three different categories:

Promoters
Employees who have responded positively or agreed.
Detractors
Employees who have reacted negatively or disagreed.
Passives
Employees who have stayed neutral with their responses.