A few weeks ago we already pointed out the advantages of an efficient account based marketing in our blog and outlined how you can reach your account based marketing strategy in 5 steps. (You can read the article here.) In this article, we would like to take a closer look at one of these steps: Account based prospecting – the targeted identification of the right prospective customers for your marketing and sales activities. After all, their efficiency depends on this.
Reasons for account based prospecting
If you want to develop your business quickly and sustainably, it is not only important to find new customers, but to find the right ones. After all, the cost of a new customer and what he or she brings you can vary greatly from case to case. By focusing your activities on those prospective customers who promise an ideal cost-benefit ratio, you not only maximize your efficiency in sales and marketing, but also the return on investment for your company. This is ensured by successful account based prospecting. So what do customers look like who promise a quick deal, generate large revenues, offer interesting cross-selling and up-selling opportunities and will remain loyal to you for years to come? This is exactly what you should concentrate on.
What is the challenge?
This fact alone is probably not yet an incredibly new insight for you. Most sales and marketing professionals are now well aware of the importance of the targeted selection of potential interested parties. And yet in many places there is still a lack of consistent implementation of account based prospecting. When asked about the reasons for this, the quality of the available data is always mentioned. After all, a prediction about the quality of an interested party can only succeed if it is based on a sufficiently broad, deep and not least up-to-date database. Common data sources, however, often only allow a classification that contains inaccuracies that are too large. As a result, all too often the focus is still on too weak leads – an expensive waste of resources.
Another problem with the successful implementation of account based prospecting may be less obvious: Many companies use the same data sources – and due to the low depth of information can only segment according to similar criteria. In many cases, the same companies are at the top of the wish lists of several service providers. An expensive competition for all involved.
The more data, the more accurate the account based prospecting.
Implisense can help you to avoid this bottleneck in a meaningful way. With the help of our own company database, 100 percent of all companies listed in the German commercial register can be analyzed for prospecting. This allows segmentation in order to identify prospects for your company and your offer. The more accurate, the more your results will differ from those of your competitors and the greater your chances are that the prospective buyer will finally decide for you.
However, Implisense can also start one step earlier and help you to identify the criteria for your segmentation in the first place. With the help of a list of top customers, Implisense can automatically search for Lookalikes (similar companies). What characteristics do your most rewarding customers have in common? This results in a list of other companies that also have these characteristics. Thanks to the daily update and data depth, you also have insight into numerous signals from your potential customers that suggest a current interest in your solution. The perfect approach for true account based prospecting.
Thus, in many cases there is no lack of understanding of the necessity of a well thought-out account based prospecting, but rather of a sufficient database for its consistent application.