Account research forms the foundation to every ABM campaign. Over 70% of B2B companies have adopted or are planning to adopt ABM practices in the next year, according to eMarketer.
Organisations build an understanding of their target accounts through account research. Moreover, account research aids in achieving a higher level of personalisation which ultimately enables you to craft industry-specific content for your target people at your ABM accounts.
One of the major hurdles facing ABM marketers is securing data and insight for their ABM programs. 86% of marketers struggle to secure data for ABM programs. It takes a lot of time and effort to compile research reports on your target accounts. 11.6% of the sales and marketing representative’s time is spent on researching their target account and industry. Valuable time spent researching target account and industry could be spent on having conversations with ideal customers.
Many B2B companies outsource account research to agencies for in-depth target account insight. Outsourcing account research will help enterprise sales reps focus more on selling to yield positive business results such as sales growth and acquiring key accounts.
There are many aspects which you must consider before outsourcing your account research:
1. Service Level Agreement (SLA)
Work with a research consultancy that has a clear Service Level Agreement (SLA) as it is one of the most crucial documents. A clear SLA will help to avoid ambiguity about the quality of work and also outline the scope of the process.
2. Communication
Communication is key while working with a research team that is external to your company. Your research partner should be readily available to answer your queries and take prompt actions. Barriers in communication could be a challenge that needs to be addressed beforehand.
3. Reliability and Commitment
Having a reliable and committed research consultancy is of paramount importance. The team you are working with must understand your business and the pain you go through while acquiring accounts. A reliable partner can add value to your effort so you must choose those who complement your business.
4. Assessment of Sales and Marketing efforts
Outsourcing your research saves your time and helps you focus more on selling. Research consultancy companies support your data and insight requirements in order to power your sales and marketing campaigns so you can sit back and focus on having intelligent and meaningful conversations with your prospects.