The days of “spray and pray” selling are over. So how can sellers maintain a consistently full pipeline of prospects and leads? Through targeted and account-based selling. In today’s episode of The Sales Evangelist, Donald is joined by the VP of Sales Management at Crunchbase, Ang McManamon, to discuss how she uses account-based selling in her own work.
Why go into account-based selling?
- A year ago, Ang’s team talked to their best clients and saw an appetite for account-based selling.
- Prospects would use Crunchbase for funding and capital management news, and people liked the database options for prospecting.
- There are so many sales tools today, yet finding high-quality accounts and decision-makers is still tricky.
- Before, there were no strategic ways of looking at accounts and contacts. Now, you can be intentional with your actions.
Setting up Crunchbases’s account-based selling:
- First, figure out the target audience. Companies say they do it, but they frequently don’t get precise enough to best impact the audience.
- Narrow down organizations by size, but look for people based on many factors.
- Ang targeted 50 accounts per person on her 35-person team. Then, they researched the messaging, cadence, and outreach that would best apply to those targets.
- Look at the potential buyer intent. What web pages have they visited on your website?
- Luckily, Crunchbase has great name recognition. However, prospects often don’t know the specific things they can do with the platform.
It takes diligence as a leader to hold sellers accountable.
- While the account list is a priority, it’s not necessarily a restriction. If the seller isn’t getting anywhere with a target account, they should be able to move on and find new targets.
- For outbound selling, sellers use Crunchbase to view recommended accounts or new contacts within those accounts. Then, they create an automatic email from Outreach and set up a cadence.
- Sellers use strategic intent tools to inform them of their best outreach method, and they use Salesforce to track data and activity.
Potential problems (and solutions) with ABM:
- Initially, Ang’s team wasn’t using Crunchbase and wasn’t ‘surrounding’ the sale, interacting with 1-2 people rather than 4-5 who could impact the sale.
- Incentivizing the sale for larger-scale prospects can help get your foot in the door.
- Finds reps with a higher sense of ownership when using account-based selling because sellers feel more in control over the process.
- When working with strategic accounts, win rates increase roughly 48%, but the cycle is slightly longer. It sounds like a great trade-off to us.
Ang’s major piece of advice? Account-based is here to stay, and it’s a better and more strategic way to sell your products. It takes time to nail down, but it’s worth it. Visit Crunchbase.com or email firstname.lastname@example.org to see what the Crunchbase platform offers.
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This episode is brought to you in part by Skipio.
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