Account-based Marketing isn’t just another marketing buzzword, it’s a marketing strategy that aligns sales and marketing teams so that they can focus their energy and expertise on personalised campaigns for high-value accounts.According to this article on Adobe, “80% of a company’s revenue will originate from 20% of its leads.” This proves that quality trumps quantity. If you want to ensure the highest ROI from your marketing campaign or sales strategies, you need to identify the accounts that present the greatest opportunity for your business. Here’s what you can do to identify high-value accounts:
Channel mapping is an effective way of identifying your most valuable channels and accounts, and a critical step in defining your account based marketing strategy. Once you have this information, you can focus your resources on your most valuable channels and partners. You can obtain this information through prospect profiling.
To identify high-value customers, you need actionable information about your prospects. After all, you can only attract and convert leads if you know who they are. Prospect profiling digs deeper and aims to give you a more detailed description of your prospect. Here’s how you can easily profile your prospects:
- Gather business intelligence.
You can gather sales intelligence by looking at your prospects characteristics and past behaviour. The information you need to acquire should include the size of your customer’s company, their capacity, their infrastructure, their annual revenue, and their needs and wants. Use both internal and external resources. With this information, you can accurately identify your prospect’s position in the buying cycle.
- Polish your existing database. Prospecting within your existing customer base has many advantages: buying cycles are shorter, key player contacts are already established, and it should be easier to secure add-on business. With everything else going on, sales teams can often neglect to input prospect data into the CRM properly. This means that important data could be missing, and potential leads and opportunities could be overlooked. If you want to gain control over your sales pipeline data, polish your existing data and you might be surprised by what you find.
- Customise your account profiles. In order to find the right prospects for your business, you need to tailor your ABM and B2B marketing strategy. Each prospect is different, which means their needs and challenges are different – so you need to customise your strategy to suit them. Find out what their challenges are and offer valuable solutions that address the pain points the target account faces.
Most of your business is likely to come from a few customers, so it’s important to find out which ones are the most promising. Once you know how to identify high value accounts, you’ll be able to build a customised marketing strategy for each account.
GCL Direct can help you identify your most promising accounts by using our B2B telemarketing services to obtain performance information directly from the source. These insights will allow you to focus your resources on the channels and partners that will provide the most value.
If you want to know more about account-based marketing and how it can help you generate leads, download our guide.