What is Sales 2.0?
There a quite a few definitions out there, but after many conversation and considerable research I like to describe Sales 2.0 as – sales persons using web 2.0 tools including social media to sell more effectively and efficiently
Sales 2.0 is a different philosophy. It requires a mental shift in the sales process, structure, compensation, tools and engagement with (potential) customers
Sales 2.0 does not diminish the “selling” skills of a sales person. It requires the sales person to re-tool
Sales 2.0 is significant because the real world that buyers live in, has changed, that includes availability of information on the web, professional networking sites, forum and so on. Consequently, buying behavior has changed. Therefore to be effective, sales teams (and sales professionals) have to retool
What is ABM (Account Based Marketing)
Of the multiple definitions and descriptions of ABM out there, I like to describe is as – a framework that unifies the entire buyer journey from online research to buyer purchase using technology, tools, techniques and data
Instead of marketing effort that is focused on reaching the maximum number of potential customers, the objective of ABM is to focus on selected accounts that meet the ICP (Ideal Customer Profile) increasing the ROI
ABM uses customer tracking and targeting tools to influence the buying process at every stage
What is ABS(Account Based Sales)?
Account Based Selling is relatively old model. It’s a sales development approach that focuses on single account or target potential customers, as opposed to multiple leads
The model is primarily used in B2B sale with large deals size and typically long sales cycles
Though the model is old, the introduction of technology and tools has energized the model
Sales teams have primed their Sales Development Reps (SDR) to focus on quality of potential customers (leads) generated using technology to target well qualified accounts as apposed to a dumb list
In my view, there is considerable overlap between ABM &ABS. Both models require a strong alignment between marketing and sales for the strategy to be successful