After decades of cold calling, and hail-mary revenue generation methods, we are getting into the new era of selling. We should thank the new technological innovations that now the old business selling model becomes more common; Account Based Sales. The companies can now use this intelligence, and discover the most viable accounts, and create a perfect marketing strategy for them.
With this model, every company is now treated as a market of one company. Moreover, great resources are getting allocated for getting the best customers.
In this article, we will dig deeper and let people know about the concept of account-based sales. Let’s have a look at the detailed information below.
What’re Account-Based Sales?
ABS (Account-Based Sales) is a popular sales model that targets companies. These can also be referred to as accounts. The ABS (Account-Based Sales) focuses on a market and a group of customers, instead of focusing on a single individual lead. This process is used primarily within the B2B and B2C models.
For instance, Account-Based Sales requires a professional team that includes good coordinators, a sales marketing team, people in customer success, people having prior knowledge in finance and industry, and the people who know about the product development and the process of buying and selling the things to the customers.
Benefits of Account-Based Selling
We know about the concept of account-based sales. Individual data is not enough to monitor the readiness of purchasing and getting the product frequently. Especially, when an individual is not a decision-maker of the company.
Here, the benefits of account-based selling took place;
- The account-based selling will help you to go after the companies who understand about the product instead of wasting time on the companies, which seems a poor fit for the offer.
- The account-based selling will help you to target high-value accounts in no time. Similarly, if you focus on targeting the same then soon you will become an expert in targeting short-term companies.
- Another benefit, one do not depend much on a stakeholder of the company.
- Minimal Risk during the deal.
Is account-based selling for you?
It depends upon what kind of services or products you are selling to the customers. The role model especially depends on the size of your deal and what types of companies that an individual usually signs for the business.
Here’s what one should think twice before switching to this model;
- You only sell to small or medium-sized companies.
- The sales cycle is shorter than three months.
- You must be selling a one-time purchase product.
- Your deal only involves one or few stakeholders.
- You must be still trying to find the market fit of the product.
The Account-Based Sales model could be a game-changer for the company. It is not something that gets easily fit into the company. This can even lead to failure or bankruptcy if applied incorrectly. Therefore, before you jump into the implementation, make sure the role model is fit for your business.
This decides the entire economic decision of the organization.