If you could directly sell and market to your highest value and best fit accounts, while increasing conversion rates and client retention, wouldn’t you? The answer is probably a resounding “yes!” – and you can do exactly that with account-based marketing (ABM).
The benefits of ABM are becoming increasingly apparent: According to both Gartner and 6sense, ABM programs show a 70% increase in opportunities created. But even with organizational support, there are a few ABM challenges you’ll likely encounter. ABM program alignment between your sales and marketing teams is one of the most common.
In most organizations, there are two main reasons for a lack of sales and marketing alignment:
It’s time to move away from the traditional and create better sales and marketing alignment. Start with acknowledging that what has been done in the past is not working and being open to trying something new instead. Account-based marketing helps both departments meet their goals and realize their full potential.
Per Forrester, aligned marketing and sales teams are up to 6% more likely to exceed their ABM revenue goals. That’s because sales gets to hone in on pre-qualified targeted accounts and has a better understanding of the customer journey for the decision-makers, so they can better prepare and better engage them. This results in personalized content for decision-makers that actually make the sales process easier and drives higher ROI and revenue.
Once you agree to cooperate on this journey, it’s time to document major responsibilities for each department. The ABM program support team should collaborate with the marketing and sales teams to agree upon roles and responsibilities upfront.
Some examples to consider:
Establish clear expectations of regular and ongoing meetings, then use those meetings to create ABM program alignment and air out any issues in a timely manner. The key to ABM is to share information cross-functionally, from won deals to lost deals. The sales and marketing teams should be mingling and talking about what’s working and what needs improvement. Without full transparency, you won’t be able to learn, optimize and stay agile for the future. Hiring a great ABM manager is often the right move for long-term success in this area.
ABM is a strategy that has proven success and that it can only work if all teams are aligned – and that includes sales. Ultimately, sales and marketing all have the same goal: to do great work and impact revenue, so each department's success is a shared ABM success!
Discover how ABM can align your marketing efforts.