4 Steps to Scalable Sales Growth

Target account selling is a sales methodology that can deliver astounding results. It could result in much larger sales from fewer customers. More money for less effort. Kind of. Not exactly less effort, but a different kind of effort. More satisfying and more rewarding. And much higher sales.

Pareto’s Principle says that 80% of your sales can be attributed to 20% of your customers. Similarly, 80% of your revenue can be attributed to 20% of your effort (or time).

Therefore, if you’re taking a scattergun approach to selling and just trying to get as many customers as possible through your door, you’re wasting a lot of time, energy, and effort on small accounts that aren’t going to ramp your sales.

Instead, by target account selling you focus efforts on potential clients who are most likely to convert into high-revenue accounts.

What is target account selling?

Typically, your most productive customers will be your most complex. They may have longer sales cycles, but when they make a purchase it’s far larger. Instead of making a sale for $10,000, the sale will make you $100,000.

The thing about these customers is that selling to them takes more planning. You must know who you are targeting, and then you must develop close relationships with them. You must be patient, and treat them as a partner rather than a commodity.

Target account selling methodology can only be successful with a concerted effort that brings marketing, sales, and customer outcomes into alignment. You’ll need to research accounts, put in place targeted marketing campaigns, communicate regularly and often with your clients, and then offer great after-sales support.

Your target account selling worksheet

How do you start with target account selling (TAS)? And how do you lessen the load of work needed to be successful with this sales technique?

There are four basic steps:

  1. Align sales and marketing

  2. Know your ideal customer profile and customer personas

  3. Focus on quality and coverage

  4. Develop your marketing strategy

  5. Testing and tweaking

I like to think of this as a worksheet that helps you remain tuned to target account selling. Ensuring you take these steps will help you put in place a framework that is repeatable and that will help you identify how and where you can reduce the workload required.

  1. Align sales and marketing

It’s imperative that your sales and marketing teams are singing from the same hymn sheet. Set common goals, make sure that they use the same CRM (I use CopperCRM), and give them the same tools and technology.

The tools you use should allow quick and easy access to the information needed by both your marketing and sales functions. Make certain that your entire team uses the tools you provide. This will ensure that all relevant information about your customers is stored in a central location and accessible to all who need access to it.

  1. Create your ideal customer profile (ICP)

Next create your ICP and customer personas. I discussed this more fully in my recent blog, ‘Creating your ideal customer profile’. Your aim is to uncover the qualitative and quantitative data that describes your ideal customers. You need to identify everything about them and have a deep understanding of who your best customers are. This includes:

  • Their background

  • How they measure success

  • Their motivations and fears

  • Who they follow

  • Where they get information from and who they follow

  • Who they have dealt with previously

  • What Google search terms they use

If you’re targeting businesses, you will need to do similar analysis on the people who make the buying decisions within those businesses. It is this knowledge that will help you make the deep connections that drive the success of TAS.

Employing a virtual sales team (starting with a virtual sales assistant) will help you streamline this research work needed.

  1. Focus on quality and coverage

Having identified your target accounts and the key people within them, it’s now time to consider how many accounts you will service. You’ll need to think about how many ideal customers you aim to sell to and how many key people you will be speaking to at each customer:

  • Spread yourself too thinly across many customers and your customer engagement will suffer, and your sales may fall

  • With too few target accounts, you won’t have the penetration to make the sales you desire

When selecting customers to target, compare them to your ICP. Focus on those who most closely match this.

  1. Develop your marketing strategy

You are now at the stage where you should be targeting your marketing toward your target accounts. Using an email marketing service like MailChimp, you can make your marketing messages highly specific to each customer. You can personalize them to individuals, and create content that engages them and helps move them through the sales funnel.

Much of this work can be executed automatically, connecting your email service to your CRM, and enabling your salespeople to become involved much further down the sales funnel. This way, salespeople do what they do best – have conversations that lead to closing deals, fully armed with all the information collected and collated by your CRM.

  1. Testing and tweaking

TAS is growing in popularity because of the amount of data you can collect about each of your target accounts. At every step, the strategy is driven by this information.

Of course, data changes over time. Therefore, you must continually monitor your marketing campaigns and the success you have. This includes lead generation, customer engagement, sales, and margins.

Help your sales take off with a target account selling methodology

TAS is a strategy that requires a high degree of collaboration across all functions of your business. It’s essential that all the data needed is collected, collated, and maintained in your CRM. Your team will need to use your systems and tools habitually.

TAS requires hard work to get up and running, but once you have the systems and processes in place, a great deal of the work can be automated. You will build more meaningful customer relationships and sell more effectively because of it, and, with its high scalability, ask yourself why you didn’t use this selling methodology sooner.

Are you ready to benefit from employing target account selling? In my unique sales acceleration program, you’ll learn all you need to know to put this and many other strategies into operation without breaking your back to do so.

Take this Accelerate Pulse check to find out if you are eligible for the program that will help you skyrocket your sales.

Publish Date: 4/16/2021 12:00:00 AM
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4 Steps to Scalable Sales Growth
Target account selling is a sales methodology that can deliver astounding results. It could result in much larger sales from fewer customers. More money for less effort. Kind of. Not exactly less effort, but a different kind of effort. More satisfying and more rewarding. And much higher sales.
Pareto’s Principle says that 80% of your sales can be attributed to 20% of your customers. Similarly, 80% of your revenue can be attributed to 20% of your effort (o…

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