3 Ways Lead-To-Account Matching Can Be Your Secret Sales Weapon
March 2, 2016 6:36:52 AM | By Matt Benati
Sales and marketing approaches are constantly being refined. It can seem overwhelming to keep up with the latest techniques or tweak your system every few months as you adjust to new trends. Two concepts worth grabbing hold of, however, are lead-to-account matching and account-based marketing.
They work in tandem with each other with the overall goal of providing an ongoing, current record of contacts and their details, matched to the accounts you serve. In a role such as yours, where information is power, a well-organized system can be your best asset to the success of your email marketing efforts. And it all begins with lead-to-account matching. Here’s why:
Lead-to-Account Matching Aligns Marketing and Sales Efforts
Marketing to specific accounts is challenging, particularly when using inbound techniques. And of course, any leads you can send your sales team that are within existing accounts are golden. The thing is, these valuable leads may already be sitting in those gigabytes of email sitting in your company’s inboxes. An automatic, behind-the-scenes email mining solution (for example, LeadGnome) can act as your virtual shovel, working constantly and tirelessly to unearth that buried treasure — but with zero effort from your team.
The resulting streamlined process looks like this: You generate and foster conversation and interest with existing clients, as usual. From the resulting emails — particularly “out of office,” “left the company” and other automatically generated messages — LeadGnome extracts every bit of information possible and matches it with the proper accounts. Your sales team gets all this juicy info — additional points of contact, insight into schedules, and other crucial tidbits — automatically, right in the CRM, matched to the correct accounts and ready to use toward building sales. Thus, sales and marketing align and become a “smarketing” team, allowing each to do what they do best, complementing — rather than duplicating — their efforts.
Lead-to-Account Matching Eliminates Duplicates
Have you ever followed up with a lead only to find that another member of your team had already called them? Having duplicate records is inevitable when it comes to managing separate sales and marketing teams, but the real problem often comes from your team’s inability to close a sale because each profile only contains partial information. Even worse, duplicate phone calls or emails may annoy prospects, resulting in a poor impression of your company before they’ve even made a decision.
Lead-to-account matching eliminates duplicate entries because the entire goal is to match leads with the proper account, group leads from the same account together, and give your sales team the data, scoring and analytics they need to nurture a relationship with the right contacts and the right messaging.
Lead-to-Account Matching Gives You That Critical Bird’s-Eye View
The leads your sales team acquires are typically shown individually in software such as Salesforce. That means a salesperson can’t see if or how each lead relates to others in the same account. There’s no way to tell, for example, if there’s more than one lead within a given account. To get that crucial overall view, your sales team has to convert leads to contacts and properly link them to the appropriate accounts as soon as possible. This can entail some nitpicky, repetitive data entry — and it takes up time that could be better used actually selling (studies show that salespeople waste a day a week on data management tasks).
Email mining solutions fundamentally change this inefficient method by automatically mapping every usable detail in each email to its relevant account — so, when a salesperson looks at Contact A from Acme Widgets in the CRM, he or she will immediately see that Contacts B, C, and D also work at Acme Widgets.
Mapping every contact to its account also avoids duplication and enables you to target your marketing messages with pinpoint accuracy. Mike in the engineering department won’t get an email that’s better suited for Mary in the procurement department. Moreover, you can take a multi-pronged approach, addressing all key contacts in an organization. According to the 2014 IDG Enterprise ‘Role and Influence of the Technology Decision-Maker’ survey, as many as 17 decision-makers influence any given business decision. That’s up to 17 different opportunities to connect. Lead-to-account matching helps you target them all, amplifying and reinforcing your sales and marketing efforts.
Lead-to-account matching is one of those approaches that, once implemented, make you wonder why you hadn’t used it before. If resource and time constraints have been factors, check out lead mining solutions such as LeadGnome. We’d love to show you how it can help you make the most of your CRM and develop sales and marketing strategies that are informed, organized and on target. Download our free ebook, “Turbo-charge Your Account Based Marketing Strategy”.
Are you using lead-to-account matching yet? How have you implemented it? How’s it going? Tell us in the comments section below!