A Popular Term
Do a search on popular B2B sales techniques and you are going to find that the term “account-based marketing” (ABM) comes up a lot.
According to the study, “92 percent of companies recognize the value in ABM, going as far as calling it a B2B marketing must-have.”
What Is Account-Based Marketing, and Why the Hype?
Wikipedia defines ABM as “a strategic approach to business marketing in which an organization considers and communicates with individual prospect or customer accounts as markets of one.”
Dig a little deeper, and you will find more detailed definitions of the term, as well as several opinions from thought leaders in the field. Of note is this quote from Justin Gray, CMO of LeadMD:
“Our definition of account-based marketing is just good marketing. If you only had one prospect to sell and market to, you would treat them with the same principles as outlined in ABM. It’s just aiming at a more well-defined area of that funnel, and treating your best buyers in a much more personal way. And we’re focusing on not only the lead but the account as a whole.”
ABM is a targeted, more personalized approach to sales and marketing than the typical prospecting method of casting a wide net and hoping to catch a lead. And the hype and buzz around ABM is most likely because companies are finding that this sort of approach works.
Teleprospecting and Account-Based Marketing
While it may seem that ABM is new, this sort of targeted, personalized approach is, and always has been, the cornerstone of a successful teleprospecting program. This type of marketing and sales absolutely requires high-level executives having conversations with key decision makers.
You cannot make targeted, personalized sales work with inexperienced callers relying on a script.
Perhaps this is why, in the same study by SiriusDecisions where companies stated that this is a B2B marketing “must-have” they also revealed that, “47 percent of companies surveyed say that they don’t feel their ABM teams have the skills needed for ABM, and that marketing teams need more support to succeed at ABM.”
How is teleprospecting different from telemarketing? Visit the blog: Teleprospecting vs. Telemarketing.
Teleprospecting is Targeted
Teleprospecting is not about making a high volume of sales calls to a long lists of recipients. It is a much more targeted approach. One in which you give the time, attention, and investment into the prospects that make the most sense.
In most cases, these are the prospects that generally resemble your current customers or clients that you are successful with right now. These are the prospects that will most likely react to your message and become qualified leads.
Teleprospecting is Personal
Teleprospecting allows for that personal one-on-one interaction where you’re targeting a specific organization because you’ve done the research and you know they are a good match.
The goal of the call is to allow the prospect to reveal their business pain and have a conversation, ultimately finding out if they can benefit from your business solution, service, or product.
A successful teleprospector knows the industry of the prospect they are calling and can personalize the message, i.e. “I’m calling you because we have helped other businesses in your industry with this solution and I think it might be helpful for you too.”
With permission, the teleprospector can go ahead and name those businesses or companies that are successfully using the solution or product. This creates a meaningful interaction because it is personal, helpful, and gives credibility.
Wondering if teleprospecting is right for you? More information can be found by reading 8 Signs Your Should Invest in Teleprospecting.
Account-based marketing is creating a buzz because it is proving successful for sales and marketing teams.
Many of its principles align with what we’ve learned at JMS Elite in over a decade of successful teleprospecting: a targeted approach carried out by experienced executives will produce a great ROI for your sales efforts.