You have worked hard to put your top management process into practice. You have defined your cascade and have a well-executed execution model to handle hints as they flow through the system. The main score works well. The fields are defined in the CRM and there is a constant flow of sales products going to the business development representatives.
Lead management definition for ABM
Most current top management processes are structured to generate regular demand, not ABM. Therefore, the first step is to create a job definition for ABM lead management versus traditional lead management (LM).
Executive management framework: ABM versus traditional
- Define a ready-to-sell benefit versus defining the appropriate accounts
The first step in most executive management programs is to carefully define a lead that is ready for sale. This activity requires the use of demographic data, online behavior, and information from the sales team. Defining a sales-ready lead is often a daunting but much-needed marketing and sales activity. This basic definition sets the course for all future marketing and sales activities, including how technology systems will be used.
- Alignment of the funnel vs. a funnel
The next step in most senior management programs is to align your marketing and sales efforts. Aligning the two funnels in a standard lead management program is like expanding the production line in a factory. Marketing and sales still work in silos and do not consider the process as a whole. Due to the limited vision, the steps created by Marketing and Sales are exclusive for each group and managed exclusively by each group. The steps and status are related to the direction and the systems have been configured to reflect this process.
- The same process, in which different branches and routing rules are developed
The third step in the traditional lead generation model is to design lead processing and routing. This step involves creating detailed maps of how the lead converts to people, processes, and technologies.
In an ABM executive program, the same process occurs, but different maps are drawn in a different configuration.
- First, all leads are associated with an account, and lead processing and routing are based on the overall account activity, not just individual lead activity.
- Second, how the lead is treated can change. For example, in a traditional LM program, when a score of 100 is reached, the guide can be sent to the business development team for follow-up. In an ABM model, when a lead score of 50 is reached, the lead can be sent to the account representative for a follow-up conversation.
- Development of guidance points for an account vs. an advantage
The fourth step in a typical main generation model is the development of designation programs. This process includes an assessment of the data (demographic and behavioral) with sales input. The main program is then developed and implemented in marketing and CRM automation systems.
- Implementation of Service Level Agreements (SLAs)
The fifth step in a normal senior management process is usually the definition of SLAs. An SLA describes the roles, responsibilities, and KPIs for marketing and sales. The acceptance and behavior change around this document, developed in conjunction with the sales department, tend to be a major marketing challenge.
- Create a scorecard account based on a master card
Let’s be realistic: if you can’t measure, you can’t do it right. If you take the time to carefully consider the new or different elements of the scorecard, you can see the difference between the two approaches.
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Lead management is a critical process for today’s marketing organizations and takes a lot of time and effort to get it right. When considering an ABM program, you should also consider possible significant changes or additions to your current senior management processes.