Account-Based Sales Development (ABSD) is a more strategic prospecting process that involves selling into targeted and highly valued accounts. On average, it takes over five people to formally sign off on a purchase for a company on any given contract negotiation. That is a lot more people to convince than you may be used to.
This means that sales reps have to nurture an account rather than just a single person within a named account. This ABSD differs from traditional B2B sales and is a new concept for many companies selling B2B products and services. Now, depending on the account size, you will need to have one or more sales reps prospecting into a potential customer. Simply calling in and asking to speak with the decision maker isn’t going to cut it anymore. You have to use multiple channels to target the various different decision makers in the decision making process. It is time to be more strategic and the time is now to implement and leverage different technologies across the sales stack.
You must take a different approach. as the name suggests, you’re selling at the account level rather than at the lead or contact level. When you’re working at the account level, there’s inherently more complexity: you have more contacts to manage within the account, you have more decision makers involved in the process, you have to coordinate efforts with your colleagues, and you have to coordinate efforts with other departments in your organization.
When you’re selling at the lead or contact level, in order to hit your quota for new pipeline generated, you’re forced to crank up the volume. If you’ve heard the term “smile-and-dial” or “spray-and-pray” it’s most likely that they’re taking a contact based approach. It becomes a simple math equation: if you have X number of leads and Y number of them convert to opportunities, then to get 10% more to convert, you simply need to increase X by 10%. When your sales strategy is supporting ABSD, the marketing and sales efforts are more targeted, orchestrated, and organized beyond just a single sales development rep.
Click here for your copy of Account-Based Sales Development Playbook and learn how you can begin implementing this prospecting strategy into your organization.