Thoughts > Grow Market Share

Modern Account Based Marketing

August 18, 2020
Over the past few years, B2B companies have been transforming their go-to-market strategies to focus more on accounts than individual prospects.
The business outcomes of a successful account-based execution may include:

 

  • Identifying potential customers earlier in the buying cycle
  • Increasing sales velocity 
  • Improving alignment between sales and marketing
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    Our Approach

    Transformation starts with a strong data-driven framework, and account-based is no exception to this rule. The fundamental data required for an account-based approach includes:

     

  • Fit
  • Intent
  • First-party 
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    Fit data enables identification of prospective accounts through a common set of attributes, such as revenue, industry, or other signals. Utilizing this data properly allows for the creation of an Ideal Customer Profile (ICP), as well as a Target Account List (TAL). 
    The next layer of data is intent, which provides a company with intelligence of which accounts (out of your TAL) are expressing intent/research around solutions you provide.
    The final layer of data is first-party, which is data owned and stored by you (e.g., CRM, ERP). There is typically a mountain of data available in these types of enterprise systems relating to accounts (e.g., historical LTV). 

    Why It Matters

    A modern account-based approach is essentially the harnessing of the above data to go to market effectively via sales and marketing programs. Overlaying this data helps prioritize outreach, budgets, and time to ensure all resources are optimized for breaking into target accounts.

    Next Steps

    While the above all sounds great, like with any business transformation, account-based initiatives require executive stewardship and deep commitment to people, process, data, and technology to support success. Ideally, the executive sponsorship should be a collaboration between the CRO and CMO. (Note: depending on the company’s size, the CIO and/or Data Science team should also have a seat at the table.) Tight alignment at the top will deliver shared business goals that will serve as the initiative’s due north for each executive’s respective teams.

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