Target account list is essential for a business to thrive and forms the foundation of Account-Based Marketing (ABM). Often B2B marketers are scared off starting an ABM program as they think it would require much groundwork to launch this initiative. However, the fact is, you can pull off an ABM program pretty quickly and get reliable results. You can simply start the ABM strategy and then move swiftly and expand from there.
Here is a write-up to discuss the ways of creating, operationalize and maintain your target account list in a few simple steps.
• Building your list
The first initiative in ABM program is a selection of the right accounts. There are several ways of going ahead with this.
1. You can start your ABM efforts with an already existing list your sales team has already prepared.
2. You can also go ahead by identifying accounts with the customer relationship management (CRM) system of your company that best fit your Ideal Customer Profile (ICP). “An ICP defines the firmographic, environmental and behavioral attributes of accounts expected to become a company’s most valuable customers,” explains Peter Isaacson
3. Use predictive and look-alike modeling technology to identify the companies which resemble the accounts you have gained previous success.
• Operationalizing Your List
Once you have formalized your list, now you need to down-scale it by breaking the list up into specific segments. It would help you in make building and executing marketing programs securely and effectively. Some common segments which you can consider include verticals, customers, company size, geography, partner, and sales stage.
• Maintaining your list
The final stage of ABM requires maintaining the list. You should create an ABM leadership team to implement this process. It includes a specific interdepartmental group of employees from sales, finance, and marketing. They would be responsible for managing the target account list and tracking its progress.
So, this was, in brief, a simple approach towards the formation target account list and maintenance of Account-Based Marketing.