Account Based Marketing (ABM) is one of the latest buzz phrases to hit the B2B landscape in recent years. Despite the hype of late, however, ABM is not a newfangled concept. Organizations have long recognized the potential of ABM and the pressing need to develop and implement highly customized and targeted approaches to individual prospects and customers. Indeed, more than a decade has elapsed since ITSMA first coined the phrase in 2004, defining it as the practice of “treating individual accounts as a market in their own right.”
The recent resurgence of interest in ABM has been fueled in large part by a rise in new technology and tools – the likes of Everstring, Infer, 6Sense, and many others – that empower users to more effectively develop account profiles and create targeted initiatives according to an ABM approach. More so than ever before, organizations are embracing ABM as a new reality. And the payoffs loom large: according to ITSMA, 84% of B2B marketers believe that an ABM approach results in higher ROI than any other approach.
Yet, despite the potential of ABM, many organizations have fallen short. It’s estimated that ABM professionals are currently penetrating a meager 15-20% of target accounts. Slowly but surely, organizations are coming to the realization that an ABM approach is not sufficient to truly propel growth. In order to reap the full benefits of ABM, organizations must adopt a more holistic approach – an Account Based Everything (ABE) approach. An ABE strategy is much more far reaching than ABM in isolation. It involves implementing an account-based approach across all aspects of an organization, including multiple decision makers, multiple sales and marketing channels, and multiple organization departments and functional groups. According to Craig Rosenberg of TOPO, “Adopters of an Account Based Everything strategy are seeing significant lift in engagement rates, pipeline per account, and upsell/cross-sell numbers.”
In order to embrace an ABE approach, organizations must think carefully about Account Based Sales Development (ABSD), which involves sales development reps (SDRs) launching tailored campaigns into specific target accounts. This is easier said than done. Regrettably, there’s a sharp scarcity of resources devoted to helping organizations understand ABSD (this in sharp contrast to those dedicated to ABSD’s close cousin). Fear not! This week, Engagio has come to the rescue with its release of an all-new book, titled “The Clear & Complete Guide to Account Based Sales Development.” The guide is sure to be a boon for any team or organization looking to realize the potential of ABSD and ABE.
Readers of Engagio’s new resource will undoubtedly appreciate the rich content contained in the 142-page guide. There’s no fluff. The book is intended to truly move the needle forward in terms of empowering organizations to implement an ABSD and ABE strategy. Appropriately, the book opens by outlining the key prerequisites to ABSD implementation. Readers quickly appreciate why ABSD won’t make sense in every scenario. It’s not a Band-Aid solution and organizations won’t do well to blindly apply it to every account. Craig Rosenberg cautions, “There’s still a place for what we call greenfield [not account based] sales development.” Engagio’s guide is sure to prove essential in helping you pinpoint when to apply ABSD. Hint: you’ll need to assess factors such as deal size, buying teams, demand generation initiatives, and more.
After readers have learned when to apply ABSD, they are educated on how to foster an ideal breeding ground for successful ABSD implementation. Integration is key – an ABSD approach must transcend all departments within an organization. Tom Scearce of TOPO explains, “Account Based Everything recognizes that it takes a village to zero in on key accounts.” Once readers have learned why there’s no room for silos in an ABE world and why ABSD cannot work in isolation, they are taught the 101 of the primary ABSD activities – practices like how to select accounts, how to tier accounts, and how to map into buying centers according to an ideal buyer profile. Finally, readers learn how best to measure the effectiveness of their ABSD efforts. You can’t manage what you don’t measure. Sales leaders like Scott Gaydos offer their illuminating perspective on the most important metrics to track in an ABSD team. If you don’t know the three critical revenue objectives underpinning an ABSD strategy, Engagio’s book will almost certainly prove a welcome addition to your reading list.
Engagio saves best for last. The latter chapters of the book include nothing short of a goldmine of tangible strategies to immediately put ABSD into practice. This part of the book transcends high level strategy and theory and arms readers with actionable tactics. These tactics transcend email, phone, and social media channels (“the big three” channels that should be leveraged as part of any ABSD strategy). Readers are provided numerous templates that teach them how to generate a “human email, a framework for effective phone calling, how to craft a compelling inMail message, and much more. Do you know the ideal length of a voicemail? If not, we recommend picking up your copy of Engagio’s new guide.
An ABE approach is not for the feint of heart. It requires a fundamental shift in the way prospecting and outbound sales is performed. Yet, despite the inevitable challenges involved, organizations already appreciate the potential payoffs: 72% of SDR teams are currently employing a full or partial account based approach as their outbound sales development strategy. Engagio’s new guide is sure to help organizations successfully embrace and execute ABSD and ABE. And, it’s one of the best deals in town right now. While “The Clear and Complete Guide to Account Based Sales Development” retails for $19.95, you can download a copy for free for a limited time.
This is one sale that won’t require a dedicated ABSD team to close.