Definition of Account-Based Sales (ABS)
Account-Based Sales (ABS) or Account-Based Selling is sales approach focuses on building and maintaining relationships with specific, high-value clients (called accounts) rather than targeting a large number of potential customers through mass marketing techniques.
Key Characteristics of Account-Based Sales
- Personalized Approach: Sales efforts are tailored to the specific needs and challenges of each account.
- Face-to-Face Meetings: Emphasis on in-person meetings and direct interactions to build strong relationships.
- Focused CRM: Uses CRM systems designed to manage complex interactions and relationships with specific business accounts, rather than mass email campaigns.
- Strategic Engagement: Involves strategic planning and coordination across sales, marketing, and customer service teams to engage with key accounts effectively.