There are dozens of different sales methodologies out there to choose from today. Each has its pros and cons to consider. Some are more effective for one type of business or another. In this guide, we’re going to look at target account selling, including what it is and how you can use it to boost the performance of your sales team.
Target account selling, sometimes called account-based selling, is a strategy most commonly used by B2B sales teams. The method focuses on identifying prospects based on certain factors like:
The idea is that ultra-targeting will allow outreach teams to find the most qualified prospects to increase the chances of turning that lead into a lifelong customer. Granted, this process takes more time and effort than some, but the hyper-personalized approach is great for those complex B2B situations when you really want to drive home your efforts and make sure that your sales team isn’t wasting time on dead-end leads or prospects who might not be ready to act.
Target account selling essentially takes most customer-centric sales methodologies to the extreme. While many methods focus on trying to find the right prospects, this one gets into the deep details of what prospects need and which needs would be the best fit for the organization. This allows them to build custom proposals and sales pitches and focuses on looking for a few different components.
TAS, as this method is often abbreviated, can take a lot of time. Sales reps are handpicking accounts and researching them extensively to make sure that they’re the right choice. This effort is worthwhile when the customers or prospects are high-value clients because you will get a much bigger reward for your effort.
It’s important to ensure that your prospect hits your target, or is a good fit. This means checking their industry, employees, and other aspects of their business that make them a good fit for your product or service. The goal is to find accounts that fit your ICP, or ideal customer profile.
Again, you’re investing a lot of time here. It makes sense to find prospects who are most likely to become long-term clients or lifetime customers. It’s far better to spend six hours researching a client that signs a five-year contract than a prospect that is going to make a purchase and then be gone again.
The more data you can gather about your prospects, the more you will be able to tailor your approach and ensure that you solve their problems. It will also help you map out a solution to share with the client during the planning phase so that they know what to expect.
Now that you have a better idea of how target accounts are defined, you can add that into the full equation of target account selling. You need to be clear about your objectives and make sure that you’re able to put the steps of your plan into action. It’s also important to analyze sales information so that you can get your TAS strategy on the right path.
You can’t use target account selling without a goal or intent. Why are you choosing this method? If you have specific sales goals and know what you’re hoping to accomplish, TAS could be the ideal choice. Goals could include things like closing deals faster, signing more new accounts, or even upselling your existing customers.
This is a culmination of everything discussed in the section above on how TAS works. You will need to use those three elements (Value, Fit, Longevity) to define what your “perfect” account looks like. That way, you will be able to go through the accounts that you have and find the ones that fit.
Once you have an idea of your ideal account, you can start narrowing down the options. Make a list of the accounts that you think fit your target and match your ICP so that you can start doing further research on them in the next step.
Further refine your list by using the criteria discussed throughout this guide. You can even factor in other details that matter to you that may not have come up yet. Then, you’ll want to start reaching out and helping your prospects understand why your organization is the solution to their problems.
Using target account selling comes with several perks. It can level up sales for any organization that isn’t using a focused approach and can help improve customer relationships on every level. Other benefits of TAS include:
These are just a handful of the advantages of using this method for your sales methodology. It takes a little more work and time than other sales methodologies, but the rewards are well worth it for those who prefer a hyper-focused approach.
While you’re working on a new sales methodology, do you have the resources in place to handle the new leads coming your way? You can partner with the virtual receptionists at Smith.ai so that you have a 24/7 answering service and never miss another inquiry or opportunity. Plus, we can even assist with things like your appointment scheduling and lead intake so that you can spend more time researching and cultivating those target accounts.