The roles of sales and marketing teams:
In our last post, we touched on the concept of Account Based Marketing (ABM) and why you should include into your marketing plans. ABM is also a well-built example of the collaboration of sales and marketing teams.In the aligned model, organizations try to unite tactical marketing efforts with defined sales goals and use feedback from sales to identify new potential markets. To succeed in ABM, close relation within sales and marketing teams and collaboration are very much necessary.
Align with sales to powerfully engage customers:
Truly relevant marketing requires a tighter connection with customers and deeper insights about their pain points, aspirations, viewpoints as well as buying behavior. Sales and Marketing can jointly work together to derive specific strategies to accomplish one or more of the following:
- Understand current positions, and decide goals and ways to achieve them
- It helps to increase relevancy and expanding your companies footprints
- Deciding in specific selling strategies (e.g. blocking competitors, selling higher in the organization)
- You can deepen your relationship with your acquired customers and prospects.
- Winning back lost customers
- Increasing utilization of products and driving up renewal rates
- Planning new sales strategies like partnering, vertical selling or a new offering
Lately, marketers were not so keen about ABM, just because it emphasizes more on customization. But as per the growing trend of ABM, the question to marketers would be “How can I not afford to do it?” And now the challenge lies selecting your right audience, engaging with meaningful communication and qualify as interested buyer.
Wondering how can you start with ABM?
- Seek assurance from sales and account management team, as they are the ones closest to your customers and understand their pain areas and aspirations. All customer facing teams should come together to identify value propositions, proactive solutions and incorporate into marketing communications plan. You can use this communication for your existing accounts as well as target accounts.
- You should always be clear about your selection of your accounts, whether you want to concentrate on accounts that may be risky or accounts those have high potential. You should also consider possible business fits with your intended targets (size, corporate culture, buying history, existing vendor landscape, etc.). Having such intelligence would help immensely in drafting your ABM strategy.
- To focus on account based campaigns you should develop learning agenda on market, trends/developments, competitive landscape, forecasts/estimation, etc.
- There should be a common repository or mechanism to share such learning and constantly brainstorm for ideas
So by helping one another, sales (including account managers) and marketing can go a long way in meeting their numbers and constantly aiming for more!