In the world of business to business sales one technique has stood the test of time for businesses looking to win high value clients: B2B targeted account selling. This approach involves tailoring your sales efforts to specific high value accounts which can result in more efficient use of resources and higher conversion rates. But how do you do it? Identifying the right accounts, personalising the outreach and measuring the results are key to success. Below we go into the steps to take your B2B sales to the next level.
Understanding B2B Targeted Account Selling
First the basics, B2B targeted account selling is a focused sales approach where businesses prioritise and tailor their efforts to a select group of high value potential clients. This level of focus allows for a more personal engagement with prospects which can hugely enhance the customer experience and increase the chances of a sale.
By focusing on these key accounts businesses can align their sales and marketing to have a single message and strategy. This is key in today’s noisy marketplaces where buyers are bombarded with generic sales pitches.
It’s all about the execution. Success requires a deep understanding of the target accounts needs, challenges and business goals. Just identifying the accounts isn’t enough, businesses must also adapt their solution to the unique pain points of each prospect.
Putting the approach into your sales process can be game changing. With the right tactics like B2B target account selling sales teams can move beyond transactional interactions and build real business relationships that drive long term growth.
Identifying Your Ideal Customer Profile for Account-Based Marketing
The first step in a B2B targeted account selling strategy is to identify your ideal customer profile (ICP). This should be a detailed description of the firmographic and behavioral characteristics of a prospect that is a good fit for your business.
This involves gathering and analysing data to understand which customers yield the highest lifetime value. It’s not just about the size or market share of a prospect, it’s about the likelihood of a long term and mutually beneficial relationship.
Segmentation is also important when identifying your ICP. Segmenting prospects by industry, revenue and existing technology can give you a clearer view of where to focus your sales efforts.
Once the ICP is established it becomes the roadmap for all future target account selection. It means marketing resources are allocated effectively and the sales team is chasing prospects that are most likely to convert into high value clients.
B2B Sales Outreach Strategies – Personalization
Personalization is key to a good B2B sales outreach strategy. In a world where generic is the norm, taking the time to tailor your messages to a prospect’s situation will set you apart.
To build a personalized outreach strategy you need to use the insights from your deep dive into your target’s business profiles. Using information about a business’s pain points, industry trends and past supplier experiences will help you craft messages that hit home.
Multiple touchpoints across multiple channels is also key to an outreach strategy. Emails, social media, phone calls and even in-person events create a multi faceted approach that keeps you top of mind and encourages engagement.
Sales and Marketing Alignment for Account Penetration
Targeted account selling can’t happen without sales and marketing alignment. Tuning up the organisational alignment will allow you to present a consistent story and value proposition to your target accounts.
It starts with shared goals and metrics. When both teams know the objectives and the metrics for success, their strategies become more joined up and effective. Marketing needs to supply sales with the assets to support personalized engagement.
Continuous communication and feedback loops between sales and marketing are also key. Regular sharing of insights and progress updates allows both teams to iterate and improve their strategies together.
In short, B2B targeted account selling is a precise business, inter departmental alignment and personalization is key. By defining the Ideal Customer Profile, crafting personalized outreach, aligning sales and marketing and measuring the right metrics, you can build meaningful relationships that deliver big results. Overall it’s these relationships that are the foundation for future success in the B2B world.