Engagio's Clear and Complete Guide to ABM

Issue link: http://resources.engagio.com/i/653733

Contents of this Issue


Page 28 of 123

29 1. Select accounts The whole point of ABM is to focus your sales and marketing efforts on a relatively small number of high-value accounts that have the greatest revenue potential. That's why account selection is the most important step in any ABM program. Get this right and you'll get the maximum return on the next six steps in the ABM process. Get it wrong and you'll either miss major opportunities, waste resources on the wrong accounts or both. "It's incredibly important to pick your accounts wisely," says Sam Laber, of sales intelligence company Datanyze, "You're only going to have the bandwidth to effectively work a certain number of accounts. And if you pick the wrong ones, you're going to be wasting your team's time on leads that won't amount to anything." Aligning Sales and Marketing on target accounts is to ABM what defining a marketing-qualified lead is to demand gen – the most foundational thing you can do. The goal of account selection The goal of the account selection process is to optimize your sales and marketing resources – time, headcount and budget – by focusing them on the accounts most likely to drive big revenue. Taking shortcuts during the account selection process incurs penalties throughout your ABM program, chiefly: Missing out on deals you could have won If you leave prime candidates off of your account list, you're needlessly ceding big deals to the competition. Wasting effort on a poor fit Put the wrong accounts on your list and you'll spend time, money and effort on low-potential opportunities while under-resourcing your best shots. That's why it's so important to invest up-front in a serious effort to align sales and marketing around selecting the very best accounts. Resourcing for success ABM is not just about picking the account list. It's also about aligning on the proportion of resources that will focus exclusively on that list. If you're putting 100% of your marketing effort into the top 100 accounts, make sure you've built a model that shows how those 100 accounts will help the whole company meet its growth goals. If those 100 target accounts get 50% of resources, then it should deliver 50% of goals, and so on. Part II The 6 ABM processes

Articles in this issue

view archives of eBooks - Engagio's Clear and Complete Guide to ABM