Does traditional sales outreach still work if you are hunting deers and elephants?
The traditional way involves contacting one prospect from a company and hoping that they’ll eventually book a meeting. This works, to an extent.
But when you reach out to high-value accounts with many users and different stakeholders with the traditional approach, then you are playing the game the wrong way.
There are a lot of reasons why focusing on a single prospect is not going to work anymore:
- If your prospect is not a decision-maker, and they’re unable to convince the decision-maker, your deal will fall through.
- If they are a decision-maker, chances are they will be too busy to even look at your messages, let alone respond.
- If they are the decision-maker and seem to be interested, but leave the company, then you’ll have to start all over again.
Either way, you end up losing the game.
So, how do you win? This is where Account-Based prospecting comes into play.
What is Account-Based Prospecting?
Account-Based prospecting is a hyper-personalized, multi-touch, and company-wide strategy to target high-value accounts. You focus on companies as a whole rather than going after an individual prospect from a company.
Using Account-Based prospecting, you will be treating the entire company as a market of one. You will be reaching out to contacts in a single company – users, decision-makers, and other stakeholders. You will spend more time researching the company, getting to know different personas, their pain points, interests and concerns.
Reaching out to multiple people within the same company, who have different roles and different pain points is how you play the game. A game where there is a high chance of winning your high-value accounts.
Benefits of Account-Based Prospecting
1. Generate Higher Pipeline Value
You will be targeting a specific set of accounts, so you will be spending more time researching each individual company. The more information you’ll gather, the more you’ll be able to create hyper-personalized content for your messaging framework. This will highly increase your chances of getting a meeting booked, making you an excellent quota crusher!
2. Find Your Advocate Within Each Company
When you’re reaching out to multiple people within an account, it’s not realistic to expect that everyone will engage with you. It is, however, possible that at least one person will resonate with and reply to your outreach. You will be in contact with this person throughout your outreach process, so you can count on them to vouch for you. Having a person within your seller circle that will advocate for you and your solution will ease entry into accounts.
3. Higher Close Rates
Since your messages will be well-researched and tailor-made for the accounts you’re targeting, you’ll be building trust with many stakeholders and creating more value with each interaction – paving the way for higher close rates.
4. Become Strategic in Your Sales Approach
Account-Based prospecting saves you from the spray-and-pray approach of sales outreach. Your target accounts will be carefully chosen, and you’ll score each account based on engagement levels. At every step of your outreach, you’ll be sharing content that is useful and which addresses the pain points of prospects within each account. So, you’ll be putting the right content in front of the right people, in turn moving them closer to booking a meeting.
5. Reduce Lead Burnout
When you execute traditional sales outreach, you carry out the same activities for all prospects on your list. But at any given point, there will only be a few prospects who will respond. But you would have burnt the bridge with the rest of the prospects. But with an Account-Based approach, since you will only be targeting a few accounts with a planned outreach strategy, you won’t be burning your prospect list leading to much higher conversion rates.
Effective Way to Execute Account-Based Prospecting
Every successful Account-Based Prospecting strategy follows these four important steps:
- Selecting Target Companies: The first step in executing a successful Account-Based prospecting strategy includes identifying the accounts you’re looking to target. And this should be based on your ICP. So, you need to have a clear understanding of your best customers.
- Identifying Prospects within Each Account: After establishing the accounts, you need to build a list of different designations you’re looking to target within those accounts. Next comes getting their details and understanding their pain points in order to lay out a personalized outreach strategy.
- Building a Research and Messaging Framework: Conducting in-depth research about the accounts is a vital part of Account-Based prospecting. Since you’ll be targeting only a few selected accounts, you’ll be spending more time researching about them – you have to know everything about the company, from their history to their revenue – in order to curate personalized content. Then, you can set up different cadences for different buyer personas and execute them accordingly.
- Scoring the Accounts: Since multiple buyer personas within the same company are being targeted, you need to start measuring the overall engagement of the company as opposed to individual lead activity. Here’s where you can set up a scoring system. Each activity – like website visits, ebook downloads or webinar registrations – can be assigned a score. Based on the lead score, you will know who is close to converting.
How to Execute Sales Outreach Using Klenty’s Account-Based Prospecting
1. Generate Target Accounts
After uploading your list of prospects, grouping them into their respective accounts one by one becomes a hassle.
In Klenty, all you need to do is upload all your contacts and click on the “Generate Accounts” icon and all the contacts from a particular company will get grouped into an account under the company’s name automatically.
2. Status of Each Prospect in an Account
When you’re reaching out to multiple prospects in a company, it is essential for you to know the status of each prospect within an account (whether they’ve been contacted or not contacted, have they replied, or have they unsubscribed – to name a few).
Checking this manually is frustrating because you have to open each prospect one by one and see their current status in order to take the right next step.
In Klenty, once you click on an account, you will see all the prospects and their statuses. This will give you a clear indication of how the account is progressing and what follow-up activities you need to execute in order to move the needle towards booking a meeting.
3. Scheduled Next
Different prospects within the same account require different activities to be executed for them. It’s important to execute all of them in a timely manner, too. Knowing when to execute tasks becomes difficult when you are managing several contacts in an account.
Klenty displays exactly when you need to execute a certain task with its Scheduled Next feature. Make sure you never miss out on any task. Execute all of them without any delay or hesitation!
What’s coming next
We have more features lined up to be released in Account-Based Prospecting. Soon, you’ll be able to:
- View the overall status of an account
- Track every account’s individual activity history
Simply put, Account-Based prospecting helps you fish with spears, rather than fishing with nets. Your time and resources are directed towards prospects that are highly likely to convert – increasing your chances of ultimately closing high-value accounts.
Start using Klenty’s Account-Based prospecting, and become an excellent quota crusher!