Shorter the sales cycle, better it is for the businesses, because who does not want to close a deal as soon as possible. But is it easy to shorten the sales cycle?
Shortening the sales cycle has been the biggest challenge that is faced by the organisations, not because their products are not good enough but because unless a prospect is able to connect with a product psychologically, they will not be willing to make a purchase.
Account Based Marketing helps in shortening the sales cycles, in turn increasing the customer satisfaction. It amplifies content as per the personas of the target groups, making it more personalised, convincing the prospects that it has been curated especially for them. This helps the organisations to build a relationship with its prospective customers, creating a sense of trust and emotional attachment with them.
Traditional Marketing methodologies believe in capturing more and more leads for an organisation, increasing the chances of making a sale. Everything else above the quantity is overlooked. Account based Marketing on the other hand considers the ROI rather than the number of leads obtained.
In order to make Account Based Marketing effective it is highly essential for the organisations to align their sales teams with their marketing teams, enabling them to formulate personalised, goal specific campaigns that match with the preferences of their target prospects.
How does Account Based Marketing work?
- Identifies high value accounts and identifies the point of contact in each account
Account Based Marketing methodologies reviews the customer base of an organisation in order to identify the potential customers. Once the key accounts are identified, the person or the people who make the buying decisions or are the most important for an organisation are identified. The needs of such individuals are understood, in order to amplify persona specific content amongst them.
- Creating customised campaigns and knowing the right communication channels
The campaigns so created must be such that resonates with the targeted prospects, helping in nurturing a relationship with them. Once the messages have been formulated, it is important to identify the correct channels to amplify the content. The channels where the potential customers spend most of their time must be used to interact with them.
- Starting the campaign and measuring the results
Once all the necessary information has been collected, the campaign is formulated, it is ready to be run amongst the prospects. It is essential for an organisation to gather and analyse data from the campaign, in order to understand the level of success attained and to modify the tactics if needed.
Account based marketing services helps in aligning the sales and the marketing teams, to increase the customer satisfaction and reduce the sales cycle. It is said to be a cost effective road to success.
Blog Link Resource
http://oxper.mystrikingly.com/blog/shorten-long-sales-cycles-with-account-based-marketing