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Before getting into Account-based Marketing (ABM), let’s see how sales personnel get business without it. Imagine that you want to make a sale for your company. You can either do cold calls or do direct walk-ins and hope the person you talk to is a decision maker in the company, which can end up as a disappointment if he’s not. Then you will have to ask for a call or a meeting with his manager, which may or may not get approved and if it’s approved you will have to wait for the scheduled time which may change again at the last moment.

The sales person will have to patiently go through the whole process until the final call to make the closing. Those who have worked in sales knows how time consuming the whole process is and I bet that sales people will do anything for solid leads which can make their work easier. And this is the sole reason that marketers all over the world are embracing ABM techniques for simplifying their work.

Sales made easy through Account-based Marketing

ABM can be referred to as a blend of a company’s sales and marketing functions, which is a strategic approach to B2B marketing based on goals for specific target accounts. In the current business world, Key-Account Marketing is considered as a more strategic way to do outbound. With the help of ABM, the sales team can directly approach the key-decision makers of targeted companies without going through the entire process of random cold-calling, unnecessary meetings etc. The key advantage is that the sales process which takes several months for closing can be accomplished in a much lesser time.

The Need for Account-Based Marketing

The phrase coined by ITSMA in 2004 has its roots in the 1990s when companies began to realize the importance of personalized marketing. However, it wasn’t until recent years that Key Account marketing has really begun to catch on in the B2B industry due to the increase in the importance of inbound marketing and in the rise of vendors who offer the ABM services. With the help of ABM, companies started to expand their knowledge of potential customers, which in turn, helped them in acquiring more sales and profit. This technique also applies the psychological factor that customers respond more when approached in a personal manner rather than being approached as just another sales lead. Moreover, if you are linking Account-Based Marketing with the CRM of your company there will be additional benefits of maintaining critical information like the client’s role in the company, the status of the account, company industry type, company size etc.

Account-Based marketing & it’s working

Presently, there are different Account-Based Marketing technologies in the market. Productive key account marketing involves a multichannel approach and requires close alignment between an organization’s sales, marketing, and customer success teams. To reach target accounts, digital targeting is used by Account-based advertising to fit an organization’s ideal customer profile. CRM or marketing automation tools are integrated with ABM platforms to run campaigns targeting the company’s target accounts. This provides an ability to run multichannel campaigns for ads across different channels like mobile, display, video and social media. By doing this you can understand which message resonates the most, through which medium and get the exact data to back it up – with A/B testing in near real-time.

One of the reasons that Account-based technologies have seen great success is that they engage customers on their terms using digital channels other than e-mail and phone calls. Key Account Marketing can be done on a larger scale rather than traditional methods because it engages the entire account as well as the targeted leads.

Benefits seen after using Account-Based Marketing

· Faster Deals

With the help of ABM, leads are funneled to the most targeted ones, the chances of getting rejected narrows down to a minimum and deals get closed much faster.

· Higher returns

Since sales people are targeting on the best accounts for business with the help of Key-Account Marketing rather than typical demand generation, the returns are higher.

· Reduced Time Consumption

With ABM, the sales team will focus only on the accounts that have high conversion rates. It means they don’t waste their time on leads that don’t matter or are unqualified.

· Alignment of marketing and sales

There are chances that the marketing and sales teams of the same organization are focusing on separate accounts. Key-Account Marketing requires cooperation between the two teams so that they work together to target key decision makers within the same accounts.

Account-Based Marketing – The Future

Above all, ABM is finally about the customer. A fact that business professionals should focus on is that buyers are not looking for a cold call or a random marketing email, rather they want to explore the solutions for their pain points on their own terms and only receive communications from vendors that are meaningful and relevant. ABM makes it easy to deliver on this need across the buyer’s journey.

If you’ve ever wanted to start an online business, be it for part time income, or to replace your current job, you’ve probably noticed one thing above all else: there are literally a million different ways you can go. From affiliate marketing, to MLM, to business consulting, there are a myriad of options.

What do I mean? Well, you could do affiliate marketing, which is selling other people’s product for a commission. Should you decide to go that route, you need to pick a niche, pick a product, and then how will you promote it? PPC? A blog? Article writing?

Or you could decide that an MLM company is for you. MLM stands for Multi-Level Marketing (aka Network Marketing). In this model you will ideally have a retail product to sell to potential customers. But you have the additional option of building a business by recruiting people into the company as well.

Finally, you could also opt to build your company from the ground up either by offering services such as writing, web design or hosting, or catering. But one thing that you might not have considered is starting a business consulting firm.

But that is such a broad term it might be best to qualify it first. As an example, if you’ve been in business before (it doesn’t really matter WHAT business at this point), there were certain steps that you took that everyone who wants to start a business must take. For instance, you first need to register your business, then you need to decide what kind of business it is (LLC, partnership, etc.), and whether you should incorporate. If you need funding, you will have to have a solid business plan on paper. You need to decide how you will take profits from the business as well. You will need to have stationary printed up as well as either hire an accountant or get a bookkeeping package if you plan to do it yourself. And let’s not forget writing the copy for your promotional items, designing the graphics and getting setup online.

What I’ve briefly described above can cause some people to have absolute fits of panic, thinking that everything needs to be done at once and not being at all sure where to start.

This is where you could come in. Having gone through the above “baptism of fire” you could conceivably help people with getting the basics of business set up right the first time and be paid well for it.

Another option would be to help with the technical side of things. From setting up a new computer, getting your clients online, to consulting on their existing web site, there are many ways you can go when it comes to business consulting.

Before you do that however, you need to take some time and assess both your skills and your weaknesses so you can offer potential clients the best service possible. This is key and is not something to be glossed over quickly as it can mean the difference between a successful consulting practice and a mediocre “jack of all trades” one.

One final piece of advice: be sure you’re setting up consulting for the right reasons. If you solely setup a consulting service for the money it can generate, people will see that and respond accordingly. Make sure that you genuinely want to help people and then start. Done this way, you will find that the work might not feel like work. You will have eager, happy clients and more fun that you may think is proper!

If you’ve ever wanted to start an online business, be it for part time income, or to replace your current job, you’ve probably noticed one thing above all else: there are literally a million different ways you can go. From affiliate marketing, to MLM, to business consulting, there are a myriad of options.

What do I mean? Well, you could do affiliate marketing, which is selling other people’s product for a commission. Should you decide to go that route, you need to pick a niche, pick a product, and then how will you promote it? PPC? A blog? Article writing?

Or you could decide that an MLM company is for you. MLM stands for Multi-Level Marketing (aka Network Marketing). In this model you will ideally have a retail product to sell to potential customers. But you have the additional option of building a business by recruiting people into the company as well.

Finally, you could also opt to build your company from the ground up either by offering services such as writing, web design or hosting, or catering. But one thing that you might not have considered is starting a business consulting firm.

But that is such a broad term it might be best to qualify it first. As an example, if you’ve been in business before (it doesn’t really matter WHAT business at this point), there were certain steps that you took that everyone who wants to start a business must take. For instance, you first need to register your business, then you need to decide what kind of business it is (LLC, partnership, etc.), and whether you should incorporate. If you need funding, you will have to have a solid business plan on paper. You need to decide how you will take profits from the business as well. You will need to have stationary printed up as well as either hire an accountant or get a bookkeeping package if you plan to do it yourself. And let’s not forget writing the copy for your promotional items, designing the graphics and getting setup online.

What I’ve briefly described above can cause some people to have absolute fits of panic, thinking that everything needs to be done at once and not being at all sure where to start.

This is where you could come in. Having gone through the above “baptism of fire” you could conceivably help people with getting the basics of business set up right the first time and be paid well for it.

Another option would be to help with the technical side of things. From setting up a new computer, getting your clients online, to consulting on their existing web site, there are many ways you can go when it comes to business consulting.

Before you do that however, you need to take some time and assess both your skills and your weaknesses so you can offer potential clients the best service possible. This is key and is not something to be glossed over quickly as it can mean the difference between a successful consulting practice and a mediocre “jack of all trades” one.

One final piece of advice: be sure you’re setting up consulting for the right reasons. If you solely setup a consulting service for the money it can generate, people will see that and respond accordingly. Make sure that you genuinely want to help people and then start. Done this way, you will find that the work might not feel like work. You will have eager, happy clients and more fun that you may think is proper!

In today’s market the customer should always come first. This has been the bread and butter of many industries throughout the ages. A satisfied customer is one who will keep coming back. The customer is the one who assists the bottom line. This is true in the field of Investment consultants. It is the customer’s needs which the Investment consultant is fulfilling. The Investment consultants should help to strengthen customer relations. Time put into this is time well spent. Making the customer to be unhappy is it is a threat to business success. Ask some good investment consultants what their number one priority is and they will answer customer relations.

Many of today’s corporations utilize a big part of their budget on improvements in operations. The target is the bottom line. What they fail to realize is this can and will drive customers away. Targeting the needs of the customer is first and foremost in any business. The same holds true with business analysts.

When going in to trouble shoot a system, the Investment consultant becomes a production manager. If he or she does not put the needs of the customer first, the project will definitely fail. Listening to the customer to determine what is needed and desired is the start of a good relationship. When the business analyst fails to listen the entire project could not only start on the wrong foot but end in disaster as well.

The Investment consultants must encourage feedback. He or she must understand just what the customer is wanting, even if they do not know themselves. The customer may know what he or she wants the project to accomplish. They may know how they want something to run. The customer just may not know how to say it. He or she may collect data imperative to the project program. It is the Investment consultants job to determine if the data is even relevant. He or she is the liaison in this relationship. He or she must have good customer relations skills. The Investment consultants must speak the customer’s language.

Putting the customer relationship first can be a daunting task at times. The bottom line is critical to success on any project. There are times the Investment consultants will be caught up in keeping cost down and compromise the relationship he or she has with the customer. The customer will be much happier if you go a little over budget and keep him or her happier in other areas of the project.

Sometimes it is easier to prepare reports and allocate spending to IT to accomplish a task than it is to spend time or money developing a plan for customer satisfaction. The price any company could pay for this is a high one. The Investment consultants are no different. Customer satisfaction means keeping them informed of progress. Speak in a language they understand. Consult with them when a roadblock is met or when a progress point is passed. Either way, keeping a constant rapport with the customer ensures a satisfied client. This can lead to repeat business. This helps the business to grow.

Today it is even more common for businesses to find themselves facing economic hardship; everyone is feeling the pinch from the economic downturn. When a business can no longer sustain itself or their liabilities far outweigh their assets, the business is deemed to be insolvent. When it looks like a company is headed down this path an insolvency consultant may be asked to step in and guide the business to firmer ground, or to liquidation. These individuals specialise in insolvency, particularly the laws concerning it.

Assessment
The first thing an insolvency consultant is going to do is look at the business as a whole to determine if restructuring is a possibility. They will check into management backgrounds, assess the assets and liabilities, test the market and then work to come up with a viable solution that is in the best interests of all concerned.

Options
Once the initial assessments are complete, an insolvency consultant will then take you through which options are available to your company. There are several ways to deal with financial difficulties including bankruptcy, liquidation, restructuring and more. Which of these is best for your business will depend on many factors such as whether or not it is a temporary situation. If the market appears to be recovering and your company is not too stretched, you may be able to continue trading.

Example:
One common option insolvency consultants attempt to broker is a company voluntary arrangement. In this situation, all creditors are apprised of the situation and asked to accept a reduced debt settlement. Of course, the majority of creditors must approve such an agreement, 75% or more. Generally, debtors will receive about 45% of the total owed them and agree to write the rest off as bad debt. They further agree to seek no further legal recourse in regards to the debt.

Insolvency Consultant
As you can imagine the job of an insolvency consultant is not easy they go through rigorous training and testing before they can even attain their position and then must assess each insolvency case carefully. Many times they are also responsible for determining if a business owner has committed fraud, in other words continued to make orders and operate while knowing the business was about to go under.

Conclusion
If you must work with an insolvency consultant, remember they are simply doing their job. Answer any and all questions completely and honestly. You will only make matters worse by avoiding questions or glossing over the facts. That being said, it is a good idea not to volunteer any more information than they ask for, many people believe that by revealing anything and everything the consultant will be more friendly or helpful. This is just not the case, insolvency consultants or examiners have a job to complete and nothing more.