5 Tips to Close Enterprise-Sized Deals with ABM/ABS
The power of a strong ABM/ABS program is incredible and can do wonders for a company’s path to profitability. However, building an ABM/ABS program isn’t always easy nor is it a clear, concise science -- there’s some art in there, too. We asked five top sales and marketing leaders about their strategies on closing enterprise-sized deals with ABM/ABS programs. Here are their answers:
Damon Newquist, VP of Enterprise Sales at Lessonly: A good enterprise-sized deal will begin and end with a business case. Although in most cases a solid business case is required for a customer to secure funding, few are able to develop one on their own. The best sales reps help create (and sometimes deliver) the business case that lands the project.
Amy Mills, Director of Sales & Sales Support at Barcodes: We work to involve the right partners and resources to provide options that give the customer flexibility in the purchase process. It is core to our process and vital to our customers that we are also committed to supporting them post-purchase. They are gaining a partner, not just buying a product and service.
Gina Thomas, Executive Advisor at Lumere: Research, research, research. Investigating every angle on the key goals, financial targets and challenges of the prospect to deeply understand if the problem I’m solving is a priority and each milestone connecting to the success of that is a priority. Taking this same approach on the individuals who are key to the decision - what is their professional and personal mission statements? What do they value? What will make a difference to them? Connecting the outputs from the organization and people to my proposal represents a specificity that can be ‘felt’ and not just another company trying to sell them something. ‘It’s not about me or my company, but it’s about them.’
Eddie Patzsch, Principal Enterprise Account Executive at RollWorks: 1) Stay awkwardly close to your marketing team: Whether you're collaboratively defining the Ideal Customer Profile (ICP), the target account list or coordinating a timeline of engagement tactics, you and the marketing team should sync a few times a week to lay the foundation to a successful program.
2) Define success: Within an enterprise sales cycle, a variety of metrics can indicate success outside of a demo request or the holy "closed won" outcome. Work with marketing and sales leadership to outline the KPIs that demonstrate early signs of a successful program (e.g., site lift from target accounts, engagement spikes, high email open rates, LinkedIn profile views, event registrations, etc.).
Lara Compton, Sr. Director of Marketing at Cheetah Digital: To effectively close enterprise-sized deals using ABM, you need 100% alignment and communication across the sales and marketing teams. ABM is like a perfectly executed improv performance - you need to have a game plan and be able to feed off of each other's touchpoints, but you also have to be nimble enough to adjust to each success (and failure).
You also have to use ABM effectively at the various stages in the sales cycle. It is a balance between compelling content, evergreen assets, customization, and channel mix as you move with prospects through the (sometimes super-long) sales process. So, you need to be measuring, monitoring and communicating across the sales and marketing teams regularly to adjust the approaches along the way.