How can you help sales with Account Based Marketing?

Many blogs and articles have been written about Account Based Marketing and how to set it up as marketing. In these, I miss the crucial part: alignment with the sales department. Account Based Marketing can be very interesting for your sales department, but how do you make sure they embrace the approach and show commitment? Because actually, we as marketing can only be successful with this if sales believes in the approach.

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Marketing & sales alignment through Account Based Marketing

With Account Based Marketing, you focus on a select group of companies where you see opportunities to grow sales, which can be with existing or new customers. One of the challenges is to arrive at a selection of the right companies.

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This is where cooperation with sales comes in. In my opinion, it is the responsibility of sales to select the right companies. As marketing, though, you can help them do this. We use the black hole analysis for this. With this analysis you can immediately see which customers have opportunities to grow in terms of turnover. These insights are very valuable for a sales person. Developing turnover with existing customers is one of the most important sales activities on which he can focus to grow in terms of turnover.
As a marketing department you can help him to get started successfully. This starts by jointly selecting the companies and setting goals for which you are both responsible.

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The Black Hole model can be downloaded via the download button.

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Download Black Hole Analysis

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Spot growth opportunities with existing customers

To begin the black hole analysis, you need data from your ERP/inventory management system. Important here is that you can divide the data over product groups. For example: filters, pumps, valves and instrumentation. If you do not have defined product groups, you will have to divide the turnover manually. In addition, you need information on who your competitor is per product group.

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I would personally filter out the customers with less turnover potential in order to create a clear group. Based on this list of customers you can use colors, for example, to indicate which product groups are not yet bought or where there is still a lot of potential for you. In another column, fill in who is your competitor. Do this together as marketing in order to be better informed about what is going on with customers.

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From this list select up to 10 prospects that you will work with. Account Based Marketing is labor intensive so really focus on up to these 10 prospects. In addition, fill in for each prospect what your goals are in terms of sales and profit margin.

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Operationalizing your plan

After you collectively select prospects and set goals, you can get to work implementing them.

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Determine who the key contacts (DMUs) are, what needs they have, and who your (potential) competitor is. A model that can help with this is Mercuri's Six Battle Field model. See the image to the right.

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This allows you to see from different angles how your offer relates to the needs of the customer and compared to your competitor. An important outcome here is: what are your USPs that the customer needs and which the competitor cannot offer.
Important here is that you identify the customer's needs and compare them with your offer and that of the competitor. This includes what the disadvantage of your offer is and what the customer does not need. Such as high prices or mandatory service when purchasing your product or service.

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The large area in the middle with slanted lines is the me-too area where you offer the same thing as your competitor. This could be that you both meet certain requirements, such as providing a car with 5 doors.

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You can use the outcomes of the Six battlefield model during conversations with relevant contacts and in the content you share during your Account Based Marketing actions.

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Need help operationalizing your Account Based Marketing approach?

Fill out the contact form or email me directly at casper.lucassen@tmcmedia.nl

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