How to Start Building a Priority Account-Based Marketing List

The key to flipping the marketing funnel isn't just about identifying potential customers but about focusing on the accounts that will yield the highest return on investment (ROI). To do this, you need to target key decision-makers and engage them on their terms. While the concept sounds straightforward, implementing this strategy can be challenging. How do you select which accounts deserve your focus, and what makes one account more compelling than another?

Following Peter Issacson, CMO of Demandbase, in his article “Tips For Building A Priority Account List for B2B Account-Based Marketing,” we can glean valuable insights into not only how to target the right accounts but also how to segment them effectively to create personalized marketing strategies.

The Importance of a Team Effort

A critical take-away from Issacson's insights is that account-based marketing (ABM) is a collaborative effort that requires both marketing and sales teams to work in tandem. The success of ABM relies on the seamless integration and coordination between different departments. Here are some key strategies to help you get started with building a priority account-based marketing list.

1. Identifying Key Accounts

Choosing the right accounts to focus on is crucial. According to Issacson, there are several factors that can make an account more interesting or profitable:

Relevance: Understand the industry and specific needs of each account. Accounts that align with your product or service are more likely to convert. Decision-Makers: Identify the key decision-makers within the account. Personalized messaging and direct interaction with these individuals can significantly impact the decision-making process. Account Size and Influence: Larger accounts, with more decision-makers, often have higher potential. Influential accounts can also act as test cases, providing valuable feedback. Customer Value: Consider the potential value each account can bring. High-value or high-potential accounts should be prioritized.

2. Segmenting Your Accounts

To create highly personalized marketing strategies, it's essential to segment your accounts effectively. Issacson suggests the following segmentation strategies:

Cohort Analysis: Analyze the behavior and attributes of existing customer segments to predict future behavior and identify new potential customers. Marketing Funnel Stages: Focus on specific stages of the buying process, such as awareness, consideration, and decision, to tailor your messaging and strategies. Geographic Location: Consider the geographic distribution of your target accounts to tailor location-specific marketing efforts. Industry Verticals: Segment by industry to address specific pain points and offer relevant solutions.

By applying these segmentation strategies, you can create targeted marketing campaigns that resonate with each segment, increasing the likelihood of conversion.

3. Personalizing Your Messages

Once you have identified the key accounts and segments, personalize your marketing messages to address each individual's needs and interests. Issacson emphasizes the importance of creating a customized approach to nurture these high-potential accounts:

Personalized Content: Create content that speaks directly to the pain points and opportunities of your target account. One-to-One Communication: Use targeted email campaigns, direct outreach, and personalized conversations to build genuine relationships. Innovative Approaches: Utilize innovative strategies such as hosted events, webinars, and personalized consultations to engage key decision-makers.

4. Collaboration with Sales

Account-based marketing is more than just a marketing function; it requires the participation and collaboration of the sales team. Here’s how to ensure a seamless partnership:

Common Goals: Align marketing and sales goals to ensure everyone is working towards the same objectives. Joint Campaigns: Collaborate on joint marketing and sales campaigns to ensure consistent messaging and coordinated efforts. Feedback Loops: Establish regular feedback loops to share insights and adjust strategies based on real-time data and feedback.

Conclusion

Account-Based Marketing (ABM) is no longer just a trend but a core strategy for B2B marketers seeking to increase their ROI. By focusing on key accounts, segmenting your lists effectively, and personalizing your messaging, you can ensure that your marketing efforts are as effective as possible. Most importantly, remember that ABM is a team sport. Both marketing and sales need to work together to achieve your goals.

Key Factors to Keep in Mind:

Relevance and Decision-Makers Segmentation and Personalization Collaboration Between Marketing and Sales

By following these strategies, you can build a priority account-based marketing list that drives meaningful results and strengthens your business relationships.