Sales represent an important process in procuring clients to purchase products and increase revenue. Employing the right type of method can make or break the final revenue generated from a particular product.
There are two types of methods that can be utilized: traditional sales vs account-based selling (ABS).
Discover how different aspects of traditional sales are compared to account-based selling (ABS).
Each product demands a specific strategy that has its own methodology and advantages.
Targeted and Preferred Clientele
Starting with the focus customer base of each method.
Targeted Audience of Traditional Sales
Through a more generalized approach, under traditional sales, a broad range of potential customers are targeted. Customers are not generally segregated by their value.
Consequently, the campaigns and sales pitches developed are often standardized for the average consumer instead of a targeted strategy.
Targeted Audience of ABS
Due to their ability to drive and increase revenue, high-value accounts are targeted. Efforts to procure them as clients are put in by dedicated teams.
These teams create personalized messages and solutions that outline how different pain points and issues of these high-value clients are addressed.
Developing Relationships with Clients
Coming to how interactions and associations with customers are developed.
Relationship Building from Traditional Sales
Deep connections with customers are not prioritized under this method. The type of relationship created is a transactional one. That means the focus is on closing each sale rather than fostering a long-term relationship.
Due to this, the engagement with customers is generally lower. There are no targeted approaches to building relationships.
Relationship Building from ABS
From the targeted accounts, key decision-makers are prioritized under ABS to nurture long-term relationships with. The level of engagement is on the higher side with regular interactions and tailored consultations.
Also Read: From Leads to Sales: Nurturing Strategies That Work
Cooperation with Marketing Team
Sales and marketing are interconnected and depend on each other to generate revenue for the firm.
Collaboration under Traditional Sales
There is a lower level of collaboration between the marketing team and sales team under traditional sales. They can often operate independently with minimal connections.
Marketing campaigns are designed to target a broad number of individuals thus, personalized campaigns for individual sales efforts are not developed.
Collaboration under ABS
Here, marketing and sales teams develop a high level of collaboration. The marketing team works closely with sales to develop individualized campaigns and offers that will best resonate with high-value clients.
Closing Thoughts
In a nutshell, account based selling (ABS) requires targeted approaches to develop long-term relationships with high-value clients that deliver more revenue.
While traditional sales are more suitable to cater to a broad range of individuals through generic campaigns.