Navigating the marketing world often means grappling with budget crunches, a challenge we're all too familiar with. But instead of fretting over what to trim, let's flip the script and focus on what we absolutely must keep to not just survive but thrive.
In this blog, we challenge you to rethink your strategy and emphasize the undeniable value of focusing on high-fit, in-market accounts that are ready-to-buy. With a competitive edge sharpened by account-based marketing tools, let's dive into how precision in targeting, leveraging data on engagement and account grading can fast-track closing deals—setting you up for success!
Where to start to beat the competition?
Double down on the ‘95-5’ rule. That's right, focus on getting in front of the 5% of in-market accounts that are ready to buy now. If you’re not actively out pursuing this 5% of in-market accounts, it's inevitable that your competitors will swipe them up first. Here’s how you can beat the competition without creating complicated new programs or adding another layer of complexity to your current marketing strategy kicking off Q2 super strong.
The Right Data to Capture In-Market Accounts Quickly
In-Market Surges on Intent Data 📈
Make sure you are targeting the top priority accounts by monitoring intent keywords. These are target accounts that are actively looking today, and are researching your solutions online ( Ex: on the web, searching your product category, keyword, topics and you and your competitors (e.g. on G2) and your website).
This may look like tracking keywords that are considered bottom-of-funnel (your brand name, your product capabilities, competitor keywords, etc. — anything that indicates they’re in consideration). For example, you could track your competitors and see when in-market accounts are searching and swoop them up. Talk about detective work and securing your bottom line.
Engagement signals 🛜
Catch your prospects while their on-site interest is high by using customizable engagement signals. This will not only help you find out who is highly engaged (code: hot lead), but the specific content they’re engaging with so you can ensure you’re reaching out at the right time and with relevant content that’s sure to grab their attention. Features like Trending and Spiking Accounts mean your sales folks can quickly zero in on accounts that are all set for a chat, slicing through the sales cycle time.
Now for the cool part...
Our data shows that accounts hitting an engagement spike are 2x more likely to become an open opp in just 30 days. And if they spike while they’re already an open opp, they're 30% more likely to end up becoming customers soon after. This highlights why going after those with both intent and engagement—your top 5%—is super crucial to get ahead of your competition!
Account Grading for Prioritization 📊
Peeking into how we sort out our prospects, think of account grading as the secret sauce to picking where to focus. It's pretty clear-cut:
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A Graded Accounts have a way better shot, 55% better actually, at turning into something real compared to the B's.
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And when you look at A's, B's, and C's together, they're 75% more likely to get there than the D's and F's.
So, this whole grading gig? It's about making sure we're putting our energy where it's most likely to pay off, helping us hit the mark more often in our journey to win over customers.
The Precise Targeting to Stand Out
We’ll keep this simple: once you have the most accurate, quick data — you’ll need to put it to use. The accuracy of your data is only as good as the reach across marketing and sales channels you have access to. Here are some questions to ask yourself about your targeting capabilities to make sure your budget is being used most effectively:
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Can I reach personas and accounts not in my database?
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Can I switch up messaging based on the sales stage?
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Can I automate personalized messaging?
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Can I integrate across RevTech platforms (CRM, Outreach, Sendoso, RollWorks, etc.) for surround sound impact?
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Can I measure impact throughout account journeys and activate campaigns?
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Can I gain access to a database of millions of businesses and buyers and reach them across display?
If the answer is no, it’s time to ask more of your vendors and be selective of those who can support your targeting.
Closing Deals Fast with ABM
ABM can deliver fast results and value in as little as 90 days. Within only 3 months of their first ABM initiative, BlackBaud saw 4x larger sales opportunities using ABM by focusing on the singular goal of using targeted display ads to increase the number of engaged target accounts. Blackbaud’s digital marketing team lead Sam Kuehnle said, “Thanks to [BlackBaud’s] new targeting abilities — we don’t have to throw out 20 messages and hope that one lands. We can mention the specific pain points we know you're going through and how we can help you.”
