Managing Account Based Sales At Scale
Using account based sales for B2B has big potential. But it is also creates challenges for inside sales managers.
The potential upside is significant. TOPO reported that account based selling produces a 75% increase in Average Contract Value (ACV) and a 150% increase in lifetime value (LTV) via account based upsell campaigns.
Account based selling is not new. Focusing sales and marketing resources on named accounts has been a standard approach for sales teams for a long time. In the past, this was limited to global or enterprise accounts. Today, new technologies make it possible to do account based selling at large scale. This creates an entirely new set of challenges for sales managers.
In this post, we'll cover three things:
- What's new about account based sales for B2B ;
- Why it's challenging to manage account based sales for inside sales teams; and
- How to keep marketing and sales aligned.
What's new about account based sales for B2B
Modern account based analytics make it possible to do account based selling at large scale.
The key is to look at historical data to find the best customer segments and the right personas. With this data, you can uncover the potential value of accounts even if they aren't huge companies. From there, accounts can be prioritized into different tiers and then balanced account territories can be assigned to sales reps. You can read more about this approach in my recent post on sales coverage for account based selling.
With account based analytics, you can do account based sales and marketing to a much larger set of companies. Depending on the industry, account executives can end up with hundreds of accounts in their territories.
Why it's challenging to manage account based selling for inside sales teams
Most sales managers can't see which accounts are getting attention and which ones aren't.
The data you need is usually in your CRM, but it is really challenging to pull it out and make it useful. It's easy to see a list of accounts by sales reps. But it's really difficult to see all of the activities and metrics for each account by sales rep.
Many companies try to solve this problem by creating spreadsheets. But these spreadsheets are a complex combination of pivot tables and VLOOKUPs. Creating them is difficult and keeping them up to date is worse.
Rekener's Sales Rep Scorecard application automates account coverage reporting for sales reps. In the image below, Luis' manager is able to see all of the accounts that are assigned to Luis. She can see exactly which accounts are getting attention in terms of calls and emails. She can also see where Luis is generating results in terms of meetings, opps and pipeline.
Luis' manager can also sort the columns in this table to shine a light on the accounts that are not getting any attention.
How to keep marketing and sales aligned
Account based selling works best when sales and marketing are fully aligned.
When you are targeting a large number of accounts, it is easy for marketing activities and sales activities to diverge. At Rekener, we recommend that our clients score both sales and marketing activities and then make sure that activities are concentrated on the same accounts.
The following image shows how Rekener pulls together Marketing Activity Scores and Sales Activity Scores at the account level. The goal is for the sales manager is to focus sales reps on the accounts that are responding to marketing campaigns. The Marketing to Sales Ratio is a single number that helps both marketing and sales maintain alignment.
Rekener's Sales Rep Scorecard app is the fastest and most powerful way to give your sales team powerful account coverage analytics. Rekener automatically sets up and manages a cloud-based data warehouse for your CRM data. Rekener has pre-built integrations with HubSpot CRM and Salesforce CRM. The integration takes minutes. We crunch the data so you can focus on crushing your numbers.
- Request a demo of Rekener's Sales Rep Scorecards application.
- Start a free trial by connecting your Salesforce or HubSpot CRM account.
- Read our post on how to Create a Sales Coverage Model for Account Based Selling.
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Alex is CEO and Founder of Rekener. Previously, he served as President and COO at ZeroTurnaround and as President of the Delta Division of BBN Technologies. At ZeroTurnaround, he grew high velocity inside sales by 6x in 3 years. At BBN, Alex co-founded RAMP and AVOKE, both recurring SaaS businesses based on BBN's world class speech recognition and natural language processing tech. Alex started his entrepreneurial career as founder and COO of NBX Corporation, which led the transformation of business telephone systems to Voice over IP. Alex’s companies have generated $500M in liquidity events and more than $1B in sales.
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