Most buzzwords normally induce sighs and eye-rolling, but that’s no longer the case when people talk about “engagement.” Once a meaningless word with no clear definition, it’s more recently become an important part of the discussion around what business-to-business clients want and how sellers interact with them.
Jon Miller, CEO and co-founder of Engagio, will tell you it’s simply “the time a buyer or customer spends with you, and that more time spent together leads to a stronger and more meaningful the relationship.”
But there’s an extra step nowadays: that engagement has to be extremely relevant to the potential customer’s needs and wants. Otherwise, it’s useless.
This, according to Miller, is where “Account Based Marketing” (otherwise known as “ABM”) comes in.
The concept simply means that sales and marketing collaborate on reaching very specific customers instead of throwing out a net and taking any lead that swims by. Miller likens it to “fishing with a spear” as opposed to a net.
“In Account Based Marketing, engagement is the ultimate goal, the output of what we do, the thing that every sales and marketing team is trying to achieve,” he says. Miller believes that companies nowadays need this targeted approach to deepen their customer relationships and grow revenue. It can also help them stand out from the competition in our inboxes and on our screens.
In order to use ABM to scale your business, companies need these three essential elements:
1. The entire company gets involved in a sale.
In account based selling, multiple branches across the entire company source a deal and close the account.
Think of this setup as you would a football team. Multiple people from one team (your company) have to interact with multiple people from another (the target account). Marketing orchestrates who does what throughout the process, and when:
- Executive Management provides the overall vision and, at some point, holds high-level talks with the potential customer.
- Marketing finds and researches each account and creates content specific to that customer.
- Frontline sales representatives kickstart the conversation.
- Members of the sales team create and show a demo of the product or service on the table.
- More senior salespeople negotiate and close the business.
- Customer Success onboards and trains accounts.
Depending on the size of your company, people may have very specific jobs or they might wear multiple hats, and that’s okay. What’s more important is making sure every single part of your brand works together to provide the same kind of attention to the same client or potential client.
2. Every interaction should be personalized and relevant.
To close more and bigger deals nowadays, you must provide the highest-quality interactions possible with potential customers. Remember, the Spam button is very easy to hit, so sending generic mass emails via an automation tool has zero value when it comes to reaching valuable accounts. In fact, automation can often hurt your chances of closing a deal, since it pretends to be personal. By definition, automation is not personal, and Go to the full article.
Source:: Business 2 Community