Targeting High-Value Accounts
Sales teams are tired of following up with low-quality leads brought in by massive email blasts and haphazard PPC campaigns. With the wealth of information publicly available to today's sales and marketing team, we can be much more strategic and data-driven with our accounts--spending our precious time and resources cultivating relationships we know are a profitable fit.
To efficiently implement an account-based marketing strategy, we must pinpoint the high-value accounts with laser precision using criteria such as industry, the size of the companies operating in this space, and the various roles and responsibilities within those organizations.
Focusing on the Right Market
Knowing which industry to market in is a challenge for every B2B team. Paramount in this important aspect of account-based marketing is gaining an understanding of which industries or categories that stand to gain the most by taking advantage of your product and service offering. Finding the right market starts by examining various verticals and the segments within them.
Contrary to popular belief, size does matter when it comes to the companies you engage with for your account-based marketing. Size is measured either in terms of annual revenue or the number of employees. ABM marketers segment them as follows: Small to medium size businesses (SMB) (<$50M and <100 employees), Mid-size ($50M-$1B and 100-999 employees) and Enterprise level (>$1B and >1,000 employees).
Pairing Your Price, Process, and Product
After our team has segmented the companies within your industry by size, we match your product or service offering, its pricing model and transaction type to the correct organization size. The companies you choose to market to should have an appetite for the price of your product or service, routinely transact the same way you do, and exhibit a need for your product.
Our team will help you maximize your operational efficiencies by segmenting your account lists to determine which companies are the best fit for price, process, and product. SMB companies are more budget conscious, have a very short sales cycle, and prefer online ordering in small batches. On the other hand, mid-size organizations typically spend more, with a more evolved sales cycle requiring the efforts of a sales team, but minimal person-to-person engagement. Large enterprises have an appetite for costly products and services but often require a long and complex sales cycle and contracting process. You will rest easy with the knowledge that you aren't wasting time selling to accounts that will never buy.
The Heart of Your Story
After the lead has been qualified and is handed off to the sales team, middle stage content aids in converting the lead into an opportunity. The purpose of middle-stage content is to help educate your prospects about the heart of your company's story; the solutions you have to offer. Delivering content that resonates well during this stage is usually in the form of case studies, webinars, video testimonials, and social media engagement. LinkedIn is especially useful for account-based marketing as it allows the account executive to connect personally with prospects.
The Ideal Account
Once we've identified the industry and appropriate size of your best-fitting customers, our team will put together the ideal customer profile (ICP). Having this detailed description in your toolbelt ramps up your ABM efforts by helping your sales team quickly identify best-fit companies by reviewing industry and company size.
The Perfect Contact
After we develop your ICP, we insert another layer of definition for your sales team by creating a customer persona. Our persona profiles provide a detailed description of the specific characteristics of the perfect contact that includes their department, roles, and responsibilities of the ideal contact. We also include details on what keeps the persona up at night and how your product or service may help solve their problems.
Pain Points Profile
Your sales team will appreciate having an ICP and persona profile in their back pocket when it comes time for a conversation with a prospect. Included in the persona profile is a detailed description of their wants, needs, pain points, and fears. A persona pain point profile enables the salesperson to address the persona's problems eloquently to standardize delivery of an impactful and compelling marketing message.
Turning Problems into Profit
In B2B marketing, we tailor messaging that positions your product or service as the best-fit solution, which is the key to turning persona problems into profit. Our team helps you define your value proposition by shining a spotlight on the differentiating features and capabilities of your product or service offering that make you stand out from the competition.
Prioritizing "The List"
Centric to account-based marketing is targeting accounts that are the best fit and provide a high-value opportunity to your organization. We help align your sales and marketing team to prioritize your list of target accounts into tiers prioritized by fit with your ICP and evidence of intent. Tier A accounts represent your best customers, who match all your ICP data points perfectly, and possess high cross or up-selling potential. Tier B accounts match most of your ICP criteria but may be lacking in one area. Tier C accounts meet only a few of the ICP characteristics but have demonstrated intent by visiting your website. Although not ideal, your sales team can use the ICP and persona profile to screen a Tier B and C accounts to determine whether they are worth targeting more heavily based on their level of intent.
Laser-focusing on best-fit
The rationale behind account-based marketing is to focus your energy on targeting the right companies to minimize the waste associated with courting the wrong companies. Having an intimate knowledge of your ICP helps your team prioritize their accounts to match with optimal criteria. Engaging the right accounts makes it easier to deliver compelling content that guides them through the buyer's journey, from building awareness, to prospecting that translates into a closed sale. We'd love to show you how to laser-focus your marketing campaigns on your best-fit accounts. Call us today!