Today’s topic is how to replace leads with opportunities for the sales team. Demand generation and lead management does not work for companies with business models dependent on a small number of accounts but who spend a lot. Waiting for dream accounts to come to you will result in you missing your revenue targets.
If you live and die by the big deal, growing revenues faster than your industry and your competitors requires a shift to Account Based Marketing. Joining us is Gahan Richardson, the Vice President of Corporate Marketing at Cypress Semiconductor.
Watch as Gahan’s interview illustrates how to evaluate whether it’s worth the time, effort and money to implement Account Based Marketing. In the discussion, we will evaluate how ABM will help you make your number.
It’s difficult to grow revenue faster than your industry’s growth rate and faster than your competitors. Leverage the How to Make Your Number in 2018 to access a revenue growth methodology to hit your number quarter after quarter, and year after year. To request a workshop with SBI’s marketing practice leader Randall LaVeau, simply sign up for a MySBI account and check the box in your preferences to request a workshop.
During the first part of the interview, Gahan answers key questions that determine whether ABM is a fit for his company. Watch closely to this discussion to apply these questions to your business. Here are the initial questions every sales and marketing leader should ask to validate a fit for ABM:
- Would you describe your sales cycle as long, complex, involving many stake holders, departments, and decision makers?
- Does your sales team sell to a list of targeted accounts?
- Is it critical for your sales team to go wide and deep in their accounts building many relationships?
- Will you make, or miss, your revenue goal based on a few big deals throughout the year?
- Do you deploy a land and expand sales strategy?
- Is the life time value of a key/strategic/named account at least 2x that of a typical account?
- Would the working relationship between marketing and sales improve if marketing dedicated its budget to a list of dream accounts?
Answering yes to one or more of these means you can benefit from ABM. Answering yes to most of these questions makes ABM a strategic priority.
Have expectations gone up and left you wondering if you can make your number? Here is an interactive tool that will help you understand if you have a chance at success. Take the Revenue Growth Diagnostic test and rate yourself against SBI’s sales and marketing strategy to find out if:
- Your revenue goal is realistic
- You will earn your bonus
- You will keep your job