Many people may feel lost when you try to explain to them the differences between ABS and ABM, because it would seem quite alike in many sides of the process and in the final goal for both as well. In the next lines, we will try to define each process simply, briefly, and comprehensively at the same time, to make it easy for you to understand both strategies and how they work.
Both Account-Based Selling (ABS) and Account-Based Marketing (ABM) are strategies that are designed to increase efficiency and effectiveness by focusing on the accounts that are most likely to generate revenue, but they do so in different ways, with ABM focusing on creating awareness and interest, and ABS focusing on closing deals.
Account-Based Selling (ABS):
Account-Based Selling (ABS) is a sales strategy in which a sales team focuses on a specific set of high-value accounts rather than a large number of smaller accounts; this approach is often used for enterprise sales, where the cost of the product or service is high and the sales cycle is longer.
In Account-Based Selling (ABS), the sales team works closely with marketing to develop targeted campaigns for each account, and the sales process is habitually more consultative, with the goal of becoming a trusted advisor to the account. This approach can be more efficient than traditional selling, as it allows the sales team to focus their resources on the accounts with the highest potential for success.
Key features of ABS include:
- Account Selection: ABS starts by identifying and selecting specific accounts that are most likely to benefit from a company’s products or services.
- Customized Approach: ABS requires sales teams to tailor their sales strategies and messaging to the targeted account. This includes understanding the unique needs and pain points of the account, and crafting a customized sales pitch that addresses those needs.
- Cross-Functional Collaboration: ABS often involves collaboration between different teams and departments, such as sales, marketing, and customer success, in order to develop a comprehensive account strategy.
- Data-Driven: ABS is data-driven, using data to inform account selection and strategy development. This includes analyzing data on account behavior, purchase history, and engagement levels.
- Relationship-Building: ABS needs sales teams to focus on building relationships with key decision-makers within targeted accounts.
- Account Management: ABS also requires ongoing account management and nurturing to ensure the continued growth and success of the account.
Account Based Marketing (ABM)
Account-Based Marketing (ABM) similarly focuses its marketing efforts on specific, high-value, targeted accounts rather than using a one-size-fits-all approach for a broader audience. It is typically used for enterprise-level companies and high-value sales targets, and is closely tied to the Account-Based Selling strategy.
The goal of ABM is to create personalized and highly-tailored campaigns that speak directly to the specific needs and pain points of each targeted account, with the ultimate goal of closing deals and growing revenue. ABM typically involves a combination of tactics such as personalized content, targeted advertising, and account-specific events and webinars to engage and nurture those accounts throughout the entire customer journey, rather than just closing deals, and is often used in conjunction with ABS as a way to support sales efforts and provide valuable content and resources to key accounts.
Key features of ABM include:
- Account Selection: Like ABS, ABM involves identifying and selecting specific accounts that may apparently have interest in the company’s products or services.
- Personalized Campaigns: ABM requires creating personalized campaigns, content, and messaging that are designed to address the specific needs of each targeted account.
- Multi-Channel: ABM employs a multi-channel approach to reach targeted accounts, including email, social media, events, webinars and direct mail.
- Measurement and Optimization: ABM applies measurement and optimization processes to measure the impact of campaigns and activities on the targeted account. This includes tracking metrics such as engagement, conversions, and revenue generated, along with the ongoing account management.
In summary, both ABS and ABM are highly targeted and personalized strategies that require a deep understanding of the specific needs and pain points of the accounts being targeted; they can be used together to build a holistic, integrated approach to account-based engagement. While each of them focuses on high-value accounts, the main difference is in the tactics used; Account-Based Selling (ABS) is a more sales-focused approach, focusing on direct interactions with potential customers and closing deals, whereas Account-Based Marketing (ABM) is a more marketing-focused, focusing on creating targeted campaigns and content to generate interest and build relationships with potential customers. Moreover, while ABM is an approach that is carried out by both sales and marketing teams, ABS is carried out by sales teams.
Why is Yaddly?
Yaddly’s Account-Based Selling strategy provides our clients with a bundle of services where we offer them a list of unique benefits, through identifying target accounts and developing them to revenue.
Our ABS services include:
- Data & Lead Generation Services.
- Outreach Campaigns Solution.
- CRM Development Solution.
Implementing the ABS strategy, Yaddly helps validate, enrich, combine near-limitless criteria to create highly specific lead lists, design and execute outreach campaigns from awareness to revenues, and create marketing automation campaigns with custom dashboards and reporting systems that are compliant with the industry standards and best practice.
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