So much of lead generation traditionally focuses on sales and marketing teams casting the widest nets possible in hopes of snagging a few qualified prospects. One problem with that approach is the time it takes to sift and remove all the debris that is also collected — time that could be better spent focused on the true targets of the ‘fishing expedition’, or in other words, the qualified leads.
One way to reduce that resource waste is through Account-Based Marketing (ABM), a concept that has existed for several years and been practiced for far longer. ABM aligns B2B sales with marketing teams in order to plan and execute highly personalized campaigns around select targeted accounts.
With ABM, there are fewer prospects in the working pipeline, so you are now devoting resources to prospects who have been identified as more likely qualified – bigger fish if you will – and those that have a greater potential to close.
Even with this expectation of higher conversion rates, many organizations struggle to reframe the pipeline mindset to focus on quality over quantity and are reluctant to try ABM. A recent SiriusDecisions survey, however, found 91% of respondents using ABM saw their average deals increase anywhere from 10% to 200% and beyond. Almost a third reported 20% to 50% larger deal size. Those are significant successes.
Click here to read the full blog (originally posted on the LinkedIn Sales Blog) to learn how Sales and Marketing can find the right targets - together by leveraging buyer personas, how to create campaigns that spark conversations and determining what 'success' looks like!