ABM Insight #3 – A Summary of Business Needs Addressed by ABM
Almost every CEO of small and mid-sized business we have encountered expressed a relatively similar set of needs and concerns. Below are many items on their lists which Account Based Marketing can address.
- The desire for more near term sales from sweet-spot target accounts to hit quarterly goals.
- The need for more long-term sales pipeline from target accounts to achieve future growth goals.
- Higher return on sales and marketing investments and the necessity to know what works and what does not. (Everything and everyone must pay for themselves.)
- Focusing sales staff on only the best prospects and opportunities inside sweet-spot accounts for optimal time usage.
- Improved sales staff allocation to better balance new customer acquisition with existing customer growth and development
- Optimization of limited resources
The highest performing senior management teams always keep an eye on the near and long-term sales pipelines and their feeder streams.
ABM programs can provide timely pipeline support when you need it for as long as required. ABM programs can have a short-term ramp-up once you have defined your sales targets, invested in building an internal team or located a qualified ABM services supplier which fits your requirements. The accomplished ABM suppliers bring best practices to help reduce risk, impact sales pipeline and improve sales confidence. These are pre-sales prospecting programs and are what ABM suppliers do for a living, and they will usually do them better than your own sales staff. Just compare prospect development metrics and you’ll see what I mean.
ABM programs are also a good fit with small/medium sized companies (or anyone with a limited budget) because they focus on the target accounts, thereby rationally reducing campaign size. Once you have an ongoing program, you can ramp up ABM tele-prospecting and email activities based on the seasonal nature of your business or other business drivers such increased sales quotas and new product launches–giving you financial control. Most CEOs appreciate the nature of variable fees to scale up or down.
Please read our ABM whitepaper, A Practical Guide to Using Account Based Marketing for more information on ABM.