With all this buzz around Account Based Sales Development (ABSD) lately, I am sure you are already familiar with this term. So to quickly review, ABSD is an integrated approach to prospecting, wherein sales development reps (SDRs) focus on the qualified targeted accounts instead of just approaching to the individual prospects termed as leads.
What is the major reason behind this shift in the sales development process?
In addition to the efficiency and synergy of efforts ABSD provides, what is more important to understand here is that buying teams within the organizations are getting bigger with average 4 to 5 people and reaching out to all the influencers is essential. A well coordinated approach is a must to avoid any gaps while prospecting that can halt or postpone the buying process just because one of the influencer was not aware about your offering.
Let’s take a quick look at the added advantages of Account Based Sales Development-
Implementing ABSD enables you to pre-qualify accounts that would drive higher revenue. Hence, sales reps focus their time and resources on high value accounts to drive better results. Companies executing ABSD tend to close bigger deals.
‘Research’ is a synonym for ‘Account Based Sales Development’. At the heart of ABSD lies a well-defined research framework, which enables highly personalized messaging. No brownie points for guessing that personalized sales messages result in higher sales conversion. Targeted accounts helps SDRs to craft their messaging in the best possible way.
Successful implementation of ABSD calls for tight alignment between your Sales and Marketing teams. Integrated Sales and Marketing efforts is a win-win situation for everyone involved. Unike silos, coordinated efforts accross teams enable impeccable execution and higher conversion ratio.
A well structured sales approach will ensure faster and better sales conversion. When all the efforts are coordinated around the selected accounts through multi-channel and multi-touchpoints approach, deals progress in a fast paced manner. Strategic alignment at organizational level guarantees sales acceleration.
After considering the ‘Why’ of Account Based Sales Development now let’s dive into the ‘How’ aspect of it. So much has been said about the importance of adopting this approach but when it comes to implementing it, sales guys still have their apprehensions regarding how to get started with it.
Therefore, without much ado let’s start with the following simple yet fruitful steps to kickstart ABSD-
Define Your Ideal Customer Profile
The most crucial part of ABSD is to identify your ideal customer profile (ICP) as this will set the direction of your overall efforts. A company should be clear about its ICP- what type of accounts you want to target. While figuring out the answer to this question, you should determine the type of industries and business segments you would be catering to, the size and revenue of the companies you want to target and the various stakeholders you want to reach out. To begin with, ICP can be defined by understanding the demographics of your existing customer base.
Choose Your Target Accounts & Stakeholders
Once your ICP is defined, you can begin with looking for accounts that best fit your criteria. The companies that are ideal for your product offering should be shortlisted and the relevant decision makers and influencers should be researched and included in the database. Social media platforms like LinkedIn and Twitter are a great source to find accounts that fits your ICP and research about the right contact persons for a specific account.
Craft Personalized Messaging
Everything can go for a toss if your messaging is not right. Period. All that research efforts are of no use if you are not leveraging that data points to craft a personalized message. For instance, your ICP includes Director Sales and Sr. Sales Managers of B2B SaaS companies, so if you send the same sales message to both of them then you are not doing it right because irrespective of being in the same organization and function their pain points will differ depending on their roles in the team. Thus, SDRs must ensure to craft a personalized message to make ABSD a success.
If you are also following ABSD approach at your organization, do share your learning and insights with us in the comment section below.