Power Your Growth
At any time, only 5% of your addressable market is in-market for your solution. This portion of the market can help you realize revenue opportunities, but only if you’re able to close the deal. Scoring accounts for indicators that signal which accounts are in-market can help. These account scoring models more effectively target your in-market accounts to ensure your message is heard by the right audience, while they’re looking for your products.
Deeper knowledge of your in-market accounts can simplify your ABM journey and propel you toward your growth goals. It ensures you’re moving on the best fit accounts to align with your overall targets.
If you’ve wondered why you need an in-market account scoring model for your ABM campaigns, this blog is for you. We’ll illuminate why you need to identify your in-market accounts and align marketing and sales efforts toward your highest probability customers, and why this will help you achieve results at an affordable price point.
Personalized scoring models and automatic CRM data integration elevate comprehension of what you need and enhance your ability to accurately target best fit accounts.
Every customer’s buyer journey is different, meaning each touchpoint and intent signal is unique. Similarly, scoring models independently score different products. For example, a current customer who is in-market for a product they are already paying you for and a current customer who is in-market for a product you provide they are not paying you for exhibit different use cases and different touchpoint opportunities. The former can be targeted for retention and the latter as a cross-selling service opportunity.
Identifying your in-market accounts begins by aggregating and scoring data such as intent data. Intent data shows what customers are interested in, helping you predict which solutions they’re looking to buy and when. With this information, you can produce customized content that targets buyers proactively looking for your solution.
Properly incorporating your intent data into your CRM allows you to make the most of it. This will enable you to see your target accounts’ unique identifiers and prioritize them accordingly. You’ll be equipped to analyze the buyer journey and capture key engagement metrics to further inform your account list over time.
In order to find your 5% in-market accounts, you need to build a model that pulls data signaling your buyer is in-market. Your CRM aggregates 1st and 3rd-party data and records it in one database. The 1st party data is collected from your own sources such as ad impressions and website visits. 3rd party data is data you collect from other sources compiling factors such as employment intent and investment opportunities.
Within your CRM, this 1st-party and 3rd-party data is automatically cleaned and updated regularly, enabling your sales and marketing teams to have a clear picture of your target accounts so they can coordinate strategies and reach out with confidence and messaging that addresses the accounts’ pain points.
Account prioritization identifies which accounts are most likely to convert by creating a single score incorporating different data sources. In order to prioritize, you need enough data to power your scoring model to understand which accounts are in-market and which make the most sense to start targeting. The more data you have, the more you’re able to train your model to continue identifying which accounts are likely to convert.
Account scoring models identify features of ill-fitting accounts to show you what to avoid. Instead, you can determine which accounts meet your qualifications, which accounts have the right firmographics, and which exhibit stronger intent signals that match your solution.
Having an account scoring model in place enables customers to do account prioritization to accurately spot in-market accounts and run targeted ABM campaigns. Without a scoring model, teams can’t prioritize accounts in an ordered, data-driven way or properly adjust or filter based on set criteria.
Focusing on the wrong accounts leads to outreach that doesn’t make sense. When you achieve accurate account focus, you’ll miss fewer opportunities and work with businesses actively looking for your solution. It’s a win-win!
Creating an in-market account scoring model that ranks accounts based on the likelihood that they are in-market for your solution requires alignment between your sales and marketing teams. This ensures that warmups and sales touches are completed at an even cadence.
Guide alignment using intent signals, alerts, propensity data, and data enrichment. When you know which product an account is in-market for, you can be sure your sales and marketing teams are aligned and targeting accounts for the right offering at the right time, keeping you on track to convert those desired accounts.
The best feature of in-market account scoring models is that they can be cost-effective. Since you’re focusing on fewer, ready-to-reach accounts, you’ll be able to choose an approach that matches your budget and open up a new realm of growth possibilities.
Identifying your 5% of in-market accounts is vital, especially for smaller businesses and startups looking to grow their business. It enables you to prioritize, center your aim, and affect strategy without the cost of a much larger ABM program.
ABM is a transformation, so it only makes sense that your target account list transforms into your go-to in-market account list. To get that list, you need an account scoring model that aggregates data points and puts them to work in your CRM. Guide your process with precision to spin your collection of organized, aggregated, and prioritized intent signals into a comprehensive In-Market Account List. Now that you have this information, you’re ready for the next step in your ABM journey.
Your voyage into ABM shouldn’t be impossible. We’re here to help you create a workable in-market account list to hit your desired growth targets. It starts with your top 5% in-market accounts. Would You Like to Learn More About Building a Personalized In-Market Account Scoring Model? Click here to book a demo today.