We’ve been working with a Fortune 50 company over the last couple of years, and it’s been incredible to watch how they’ve incorporated modern, digital selling with traditional calls, email-based selling, and account-based marketing as part of the trifecta of success. This company is at the cutting edge of AI and machine learning, and has been very successful at doing propensity scoring of inbound leads.
Their sellers have thousands of accounts in each of their territories, and can’t possibly talk to all of the accounts in a territory. So, they have been doing propensity scoring with their email and social media campaigns. They’ve been sharing LinkedIn Point Drives,making videos, and monitoring buying intent.
Propensity scoring allows them to narrowly focus on whom they should target. And they’ve been able to take what was previously a double pipeline conversion, and turned it into a triple pipeline conversion.
What was their secret? The missing ingredient that most companies haven’t focused on,and frankly we hadn’t focused on here at Sales For Life, was social media marketing through paid media.
This team recognized that if they deployed modern, digital sales with traditional sales and follow up, and also had their marketing team directly target a campaign to those named accounts, they could identify which customers were consuming the content.Then they could focus their sellers directly on those customers.
So let’s get more tactical, with six steps that you can take.
1. Sellers address the Total Addressable Market (TAM) for their geographic territories. All accounts are properly aligned in the CRM under the sales professional’s name, using all available data, whether from tools like seamless.AI intermixed with LinkedIn data to fill in a seller’s entire TAM.
2. The sellers develop market assets in advance to deploy to the highly engaged customers. Make videos and LinkedIn Point Drives in advance so they’re ready to go.
3. The Marketing team shares content. Share content via email campaigns, and target them via pay-per-click messaging, Google AdWords, LinkedIn, paid media, and Google re targeting. Basically, there will be a comprehensive marketing blitz on those accounts.
4. Create scores. All of these data points are pulled into the customer’s AI and marketing automation to start creating scores for each of the customers.
5. Strength in numbers. If a customer has three or more of its people engaged in the content, that hyper-elevates their Propensity to Buy Score. This is a critical finding, because in the past, companies previously relied on one person to be active with the content and followed up with them. That person might be a power user or champion, but they’re rarely an economic decision maker. You can’t just have one champion – you need to see it as the entire company being clearly interested in this topic, so you should wait for multiple people to engage in the content.
6. Seller is alerted to that company. The seller then does a blitz of calls and emails, sending LinkedIn emails and videos with LinkedIn Point Drives attached. They blitz that company because it has a high propensity to buy. These are called the “hand raisers,” and they’re the companies they focused in on. Instead of taking an entire geographic account and focusing on thousands of accounts,focus on the 17 that show interest.
This type of campaigning is very expensive if you’re doing it over a large group of sellers, but conceptually you can test this on your enterprise accounts or key accounts where they’re including Marketing, and the Marketing team is developing a huge number of blitzes and then monitoring the engagement and re targeting against those accounts.