Understanding your ABM accounts is very crucial. Having a clear understanding of ABM account will put you in a better position than your competitors. The better you know about them; more likely you are to win!
Sirius Decisions has reported 91% of marketers that use ABM have indicated a larger deal size, with 25% stating their deal size being over 50% larger.
Every account is unique so in-depth understanding of each account is of great importance. This brings us to the question: What do you need to know about your ABM accounts?
- Overview of Target Account
The first step to knowing your target account is having a detailed overview of its operation, business segments, geographical presence, and employee size. Target account’s acquisitions and divestitures information also plays an integral part while engaging with the accounts. Having a clear picture of target account’s landscape makes it easy to win.
- Business Priorities
The business priorities of your target ABM account unfold their strategic priorities and future goals. Only through research, one can know about the strategic priorities of their target accounts. It becomes much easier to win accounts when you know what your accounts are prioritizing and how your services can add value to them. Insights on marketing such as marketing priorities, spend, technology stack will also add value while targeting accounts.
- Business Challenges
The challenges your ABM accounts are facing revolves around their pain points and their shortcomings. Awareness about target accounts challenges will help to structure marketing efforts towards solving those problems.
- Direction of the key decision makers
Sales cycles are becoming longer and complex because of the involvement of numerous C-suite executives. Every decision maker has their own priority area and as a result of this their decisions are bound to get influenced. Knowing about key executives and top-level decision-makers within the target account increases the chances of winning as it helps to be aware of the direction they are headed towards.
- Financial well-being
Financial well-being of your target ABM account is crucial as it gives you an overview of their overall standing in the ecosystem. Financial performance is also an indicator of the buying propensity of your target account.