Can you define Sales in a single word? Or may be in a single line?
I bet that you cannot cover all aspect of sales even in a paragraph. Each deal in the pipeline has its own significance and provides the sales rep with galore of strategies to power up their sales process. Effective sales team are high on their sales mettle and have the capability of developing qualified pipeline. They don’t tend to miss out on any of their prospects, rather they go for a sales methodology which is robust and unique in the market.
Sales managers often implement selling as a daily task, rather it should be enforced and incorporated as an action part of the organization. Organization who have witnessed excessive rise in their investment are the one who are backed by a strong sales team. However, the performance of sales reps depends upon the kind of software and sales tool being used by them.
Account based sales development (ABSD) has taken over the traditional aspects of doing business and has set a new trend that is leading the way in which reps are defining their interaction touchpoints. This new and competitive model has created a fundamental shift in the way prospecting is done. The ABSD model has made the life of reps simple by providing them a vision to target qualified prospects or high level accounts. Thus, reps don’t have to make a lot of effort in drafting emails, calling prospects, and attending client meetings.
We can clearly define account based sales development as a “Strategic prospecting process that involves selling to targeted and highly valued accounts rather than focusing on prospecting efforts at the contact level.”
Here are the main benefits of using account based sales development for reinforcing the sales process and transforming the sales team into high performance engine:
Higher Close Rate: Organizations following account-based sales development have learned the importance of quality leads. Sales reps spend a lot of time searching prospects for completing their monthly quota. We always hear that more leads means more conversions. This may not stand true in all the cases especially when you have a small sized business where justifying lead value can be a difficult task. Focusing on quality leads can help your sales team foster higher conversion and at the same time will eliminate the chances of missing out on any quality opportunity.
Better Strategic Implementations: Formulating a strategy is easy but an organization might find it tough to implement it to perfection. Being a sales manager, one should be able to identify the ways in which they should target their existing databases. The high volume of data does not guarantee high conversions rather it can be more than difficult to clean that data whose bounce rate is much high than the expected range. Under account-based sales development, the first and foremost goal of the manager should be to clean the data i.e. get rid of bad data, sort data on decided parameters, strategize various plans to target this data and finally analyze results to check if the segmentation was proper. Such strategic implementation will boost team’s productivity and optimize the complete sales cycle.
Improved Brand reputation: Creating awareness in sales can be good but at the same time can hamper the brand reputation as well. Organizations who have identified their core customers are the ones who have a strong branding strategy. Sending bulk emails with a common pitch to all the pre-qualified accounts can create an impersonal touch and at the same time can burn the goodwill of the organizations. Thus, creating branding and messaging strategy according to the core requirements of identified prospects can help in creating a strong presence of your brand in the market.
Predictable Pipeline: Organizations have been facing significant challenges around creating a qualified pipeline. With the help of account based sales development, sales reps can have a better clarity on their pipeline and future endeavors. Reps remain more informed and active towards their set target. Also, they can easily determine and forecast the number of closures that can be achieved in a particular month or quarter. Thus, ABSD provides an opportunity for organizations to create firm and dynamic pipeline which assures sure shot conversion of leads.