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Why Is Account Based Marketing Important for Commercial Services Sales?
Capturing the attention of the right decision-makers can be a defeating task for commercial services sales teams.
However, there’s a strategic solution that piques interest and turns heads. Account-Based Marketing (ABM) is a marketing strategy that sparks a drive for purposeful interactions and customized solutions. With an ABM strategy, sales and marketing teams identify an account, develop highly-targeted campaigns to win key buyers and influencers across the sales journey.
By focusing on personalized outreach and leveraging detailed building information, ABM empowers sales teams to connect with the right individuals, driving successful sales of commercial services.
In this article, we’ll explore ABM’s unique value to commercial services sales professionals and why it has become increasingly vital in their pursuit of success.
Understanding ABM in commercial services sales
In the landscape of commercial services sales, the strategic edge of Account-Based Marketing (ABM) stands out prominently. Rather than the scattershot approach of traditional methods, ABM zeroes in on individual high-value service accounts.
In ABM, we dive into the unique service requirements across industries, whether it’s periodic maintenance in HVAC, security upgrades in Access Control, or reliable facility management solutions. Building Automation or Grounds Management offer equally distinct services.
In traditional ABM, sellers focus on individual high-value companies. However, an “account” can mean different things in commercial services. For some, an account is an individual building with its own set of needs like HVAC maintenance or security upgrades. For others, an account is a whole company, where each site presents a unique opportunity, be it in Janitorial, Landscaping, or another commercial services business.
This adds a layer of complexity to targeting. You might aim your efforts at facility directors, property managers, or even individual tenants within a building or owners of a building. So, while ABM already zeroes in on specific service requirements, the property angle brings its own set of challenges and opportunities.
By using ABM, sales and marketing teams work together to create targeted campaigns that meet specific service needs, building stronger relationships with clients.
As commercial service providers adopt ABM, they aren’t merely enhancing their sales strategies. They’re fostering lasting, value-driven relationships with their clients.
Targeted engagement and personalization for commercial clients
Addressing the specific requirements of your target audience is pivotal for achieving success, whether they are building owners, facility managers, or property managers.
Buyers want tailored solutions, especially when they’re managing complex systems like HVAC or security. Sellers need to understand the unique challenges facing their target audience, and position solutions to address those needs.
For example, building owners typically think about costs and must understand that proactive or predictive service models generate significant cost savings of up to 30 percent. However, tailored solutions go beyond messaging and generic offerings just won’t cut it for buyers.
Every building and its management have distinct requirements, whether it’s about improving a facility’s security protocols, ensuring optimal energy management, or overseeing the cleanliness of a site. Sellers perform better when their solutions address the unique needs of their prospective customers.
ABM allows sales and marketing teams to craft tailor-made campaigns that resonate with specific needs, signaling your business can help an account effectively.
Commercial services sales professionals stand out by harnessing the power of ABM.
Efficient resource allocation for commercial success
Navigating commercial services sales requires astute resource management. Spreading resources too thin can dilute a campaign’s impact.
Think about the choice between running broad campaigns for general building automation and focusing on the unique needs of a tech-savvy business complex. A real-world example is Johnson Controls’ work with NRG Park and the Harris County Sports & Convention Corporation.
NRG entered a 20-year energy savings contract aimed at generating more than $54 million in cost savings. The partnership aims to cut emissions by 40 percent by 2030 and creates a savings for reinvesting in the community. This case shows the power of a targeted approach in commercial services sales.
ABM ensures that sales and marketing teams zero in on commercial accounts with the highest revenue potential, optimizing time and effort.
By adopting this laser-focused strategy, businesses elevate their efficiency and bolster their chances of robust revenue growth.
Alignment with commercial client profiles
Precision in targeting is more than a luxury in commercial services sales; it’s a necessity.
Understanding your Ideal Customer Profiles (ICPs) is critical. Each account has unique needs that vary, and you must show your business can tackle the specific challenges your commercial services clients face.
The NRG case above is a prime example where the building owner prioritized modern, tech-savvy solutions for energy management. On the other hand, a service provider specializing in security and access control might target building owners who place a premium on cutting-edge safety features.
ABM focuses sharply on individuals within a building or organization. By using hyper-targeted sales strategies, sales and marketing teams match their benefits and outcomes directly to the specific needs and challenges of those within their ICP. This makes their approach more effective and results-driven.
By harmonizing sales endeavors with the ICP blueprint, ABM paves the way for more meaningful and productive client interactions. This makes interactions more relevant and solutions more appealing to the client, increasing the odds of a successful sale.
Enhanced customer retention in commercial services sales
Keeping a client’s loyalty isn’t as simple as a handshake; it’s about meeting their expectations and anticipating their needs repeatedly.
In the commercial sector, we can’t underestimate the power of personalization.
McKinsey & Company reported that 71 percent of consumers expect companies to offer personalized interactions, and a staggering 76 percent voice frustration when these expectations fall short. ABM strategies emerge here, ensuring every interaction resonates with the client’s unique needs and aspirations.
With the help of intent data, sales teams can learn which accounts are in the research phase of the sales cycle. This insight allows sellers to proactively offer personalized solutions, increasing the chance of retaining the customer.
In the long run, this dedication to personalization and continuous engagement cement long-lasting, profitable relationships in commercial sales.
Improved cross-selling and upselling in commercial markets
Understanding a client’s evolving needs unlocks new growth opportunities.
It’s not just about selling once but continuously adapting offerings to suit a client’s changing scenario.
Take a waste management service provider working with a commercial building. At first, they handle waste for just one location. As the client’s business grows to include multiple sites, waste disposal needs also expand and become more varied. This opens doors for cross-selling other services, such as document destruction, to meet the client’s evolving needs.
By proactively offering specialized solutions for multi-site management, the service provider can upsell and cross-sell additional services. This is where ABM shines, pinpointing such opportunities and allowing sales teams to approach with the right offer at the right time.
Staying attuned to these shifts and responding with tailored solutions, commercial services sales professionals boost revenue and establish their position as trusted partners.
Data-driven decision-making for commercial success
Data isn’t just numbers on a spreadsheet; it’s the roadmap to understanding and serving clients better.
Harnessing the power of analytics in ABM strategies empowers these teams to make decisions that resonate more deeply with commercial clients.
Consider a building automation service provider analyzing energy consumption patterns in commercial spaces. They can suggest optimizations or upgrades tailored to those peak times by identifying periods of high energy use.
For example, roofing solutions to reduce cooling costs or lighting systems to limit energy consumption. This kind of tailored offering strengthens client relationships and boosts retention.
Ultimately, data-driven insights aren’t just beneficial for commercial services sales teams—they’re essential in fostering meaningful, lasting partnerships in today’s dynamic marketplace.
Measuring ABM’s success in commercial services sales
The final step in executing an ABM strategy is measuring its performance. You should decide on key performance indicators (KPIs) at the beginning of the process. KPIs include engagement rate, average deal value, sales cycle length, and win rates.
The success of Johnson Controls serves as a testament to the power of ABM in commercial services sales. By implementing an ABM approach powered by Atlas, Johnson Controls achieved a remarkable 30 percent uplift in sales opportunities.
This impressive outcome underscores the effectiveness of ABM, particularly in the commercial services sector, where Atlas played a pivotal role in identifying high-value accounts and enhancing sales opportunities.
Johnson Controls’ experience with Convex’s Atlas demonstrates that ABM can deliver tangible results, and it’s crucial to understand the key performance indicators (KPIs) and metrics that contributed to this success.
Commercial services sales teams can take inspiration from Johnson Controls and use similar KPIs and metrics to measure the ROI of their ABM initiatives, driving continued growth.
Introducing Company Search: A game-changer for ABM
Convex’s new feature (Company Search) lets sellers look for potential clients based on key criteria like industry and revenue range. It goes a step further by showing all the sites tied to that company—complete with details like square footage and property type. Company Search simplifies targeting and takes ABM to a new level, allowing for more personalized and effective campaigns.
Boost commercial services sales with Convex
Account-Based Marketing (ABM) is a game-changer in commercial services sales.
ABM helps us make our services highly personal for each client, use our resources wisely, understand our clients better, keep them happy, and even sell more to them.
Commercial services sales reps work with building owners, facility managers, and property managers with specific needs. Using Convex opens the door to useful building information and needs, which helps us create account-specific messages that make our clients stick around.
Discover how Convex helps you optimize prospecting for your commercial services sales team.
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Jerome is a Group Product Marketing Manager at Convex. Prior to Convex, he led product marketing and go-to-market strategy across different business units at Adobe and worked as a strategy consultant. He holds a bachelor’s degree from Grinnell College and an MBA from the University of Chicago.
Originally published on October 28, 2023 Updated on October 28, 2023