In my last blog post, I highlighted why ABM (account-based marketing) can lead to smarter business growth for your business. And we know how vital smart business growth is right now for B2B companies. When you focus on the right target accounts and only the ones you want to work with, you decrease that time chasing leads that don’t make sense or won’t work for you. It’s all about efficient growth. Once you’ve made the decision to go all in on ABM, you have to start with the list.
Creating an effective ABM list is a critical first step in implementing an ABM strategy.
Your ABM list is the list of accounts you want to go after and work with. It should be used for every tactic in ABM (email, paid media, direct mail, etc.). This is different than just knowing your audience because it digs deep into specific accounts vs a general audience.
If you are working to create an ABM list, start here:
Make Sure You Know Your Ideal Customer Profile (ICP)
Before you can create an ABM list, you need to understand who your ideal target clients are. This is known as creating an ideal customer profile (ICP). Your ICP should be based on factors such as company size, industry, location, and job titles of decision-makers. Start by analyzing your current customer base and gathering insights from your sales and marketing teams. Here are a few great questions you can ask yourself when identifying your ICP.
Build Your List
Now you can get into the companies you want to target that fit within your ICP. This is the most important part of the process, because it will help you determine which companies are worth your time and money. Who fits your ICP?
Research matters for multiple reasons. To start, research can help you determine if a target account is truly the right fit. You’ll also want to do research on the contacts within the determined target company. What role makes sense for your ICP and who is in the role in the company you are targeting? You can use tools and technology available to gather these insights on your target accounts. You may also want to dig even deeper into your research to help you personalize messaging once you’re ready to reach out.
Prioritize Your High-Value Targets
Once you have a list of target accounts, you need to prioritize them based on their potential value to your business. When you have a smaller sales team or not enough time, you need a plan of action. Who are the most valuable targets on your list? You may have an idea of which ones are more likely to convert. Or, you may have to make an educated guess and learn as you go. This can be done by assigning a score to each account based on factors such as revenue potential, likelihood to close, and fit with your ICP.
Maintain Your List
Important to note that you should continuously refine and update your ABM list. This list is not a one-and-done, but rather a living and breathing representation of your target accounts. You have to continuously refine and update your list based on changes in industries, roles, buying behaviors, priorities, learnings, etc.
Creating a targeted and effective ABM list is the start of a strong and successful ABM campaign. Without it, you have no campaign. Start working now to generate that list, driving more quality leads and efficient growth for your company.