According to Markets and Markets , the global ABM market will reach a turnover of 1,196.9 million dollars in 2023. A figure that represents spectacular growth if we take into account that in 2017 the market value stood at 534.8 million dollars.
Companies rely on this marketing strategy to gain customers because it provides them with many advantages.
However, one of the challenges that companies face honduras phone number list when starting a strategy of this type is choosing the right accounts.
7 Steps to Choosing Target Accounts for Account-Based Marketing (ABM)
To make the process of choosing accounts for ABM easier for you , we have prepared a complete guide:
1.- First strategy to identify the accounts
To make it easier to identify the accounts with which to work with the ABM strategy, it is good to ask yourself what business objective the company would meet if it captured a specific account.
Once this objective has been defined, it is easier to do the math.
2.- Identify accounts that add credibility to your brand
The second tip for identifying accounts is that they add legitimacy and status to the brand. This type of strategy is known as “logo takeover.”
In order to choose a brand to focus on for an ABM campaign, you need to ask yourself which brands are the most prestigious and a
re recognized and respected by potential buyers.
One also has to ask whether there is a market segment where deals are being lost because customers do not recognize customers.
3.- Look for accounts that have an ideal customer profile
If you establish the ideal client profile, it will be much easier for you to define which account you have to apply the ABM strategy to .
You need to think about the industry, company size, technology and location that define the type of company that is ideal for the products or services your business offers.
4.- Choose accounts to speed up customer closing
An excellent criterion for choosing an account is to define the companies that the sales team is contacting.
Carrying out an ABM action can be perfect to reinforce the sales message and close the deal more quickly.
5.- Segment accounts based on their data
Using data correctly can increase the benefits of ABM . But if it is not used properly, it can cause harm.
The two key data types for segmenting accounts are firmographic data and technographic data .
Firmographic data are those characteristics that predict a good fit (size, industry, number of employees, estimated revenue, estimated growth, number of locations, etc.).
Technographic data refers to those technologies that the company is already using or those in which they are looking to invest.
6.- Get information from contacts
Once you have identified which accounts you want to target and which ones you want to base your company's ABM strategy on , you should try to locate the contacts to target within the target account.
To define contacts for each account, you should consider their job title, occupation, decision-making hierarchy, account affiliation, activity and engagement history, skills and competencies, and experiences with their category.
