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At any time, 5% of your addressable market is actually in-market for your solution. However, this portion of the market can help you realize revenue opportunities. That’s why it’s of utmost importance that you find them and then pounce on them the moment there’s an opening to land a sale. . To ensure you’re focusing on the right accounts, you need to be scoring against indicators that signal which accounts are in-market. These account scoring models more effectively target your in-market accounts to ensure you gain visibility with the right audience while they’re in that critical decision-making window in the buyer’s journey.
Having a deeper knowledge of your in-market accounts can simplify your ABM journey and propel you toward your company’s own growth benchmarks. By really taking a look at each account, and scoring against key intent indicators, you’re ensuring that your team is targeting the best-fit accounts that align with your sales objectives.
If you’ve ever wondered why you need an in-market account scoring model for your ABM campaigns, this blog is for you! We’ll illuminate why you need to identify your in-market accounts and why you should align marketing and sales efforts toward your highest probability customers. Most importantly, we’ll show you how focusing on in-market accounts (and scoring them accurately can help you achieve growth targets for an affordable price point.
Personalized scoring models and automatic CRM data integration enhance your ability to accurately target best-fit accounts. This scoring also helps you better understand your target accounts for more personalized outreach that resonates.
Every customer’s buyer journey is different, meaning each touchpoint and intent signal is unique. A scoring model will account for this. It will help you find nuances in accounts that can be used further down the ABM pipeline to customize outreach and refine buying circles. Similarly, scoring models independently score different products, well, differently. For example, a current customer who is in-market for a product they are already paying you for and a current customer who is in-market for a product you provide have different use cases and different touchpoint opportunities. The former can be targeted for retention and the latter as a cross-selling service opportunity. Understanding the difference allows you to hone your messaging effectively.
Identifying your in-market accounts begins by aggregating and scoring data such as intent data. Intent data shows what customers are interested in, helping you predict which solutions they’re looking to buy and when. With this information, you can produce carefully crafted content that targets buyers that are already proactively looking for a product or service like yours.
Properly incorporating your intent data into your CRM allows you to make the most of every detail. This will enable you to see, for example, your target accounts’ unique identifiers and prioritize them accordingly. With a 360-degree view of your account, you’ll be equipped to analyze the buyer journey and capture key engagement metrics to inform your account list over time further.
To find that slim 5% of true in-market accounts, you need to build a model that pulls data which will signal to you if your buyers are in-market. Centralization is essential to ensure you are missing opportunities or doubling up on admin work. Your CRM should aggregate first and third-party data and record it in one database. The first-party data can be collected from your own sources (such as ad impressions and website visits). Third-party data can be data you collect from other sources (in order to factor in other factors, such as employment intent and investment opportunities).
Within your CRM, this first-party and third-party data should be automatically cleaned and updated regularly. Propensity ensures regular updates to keep your CRM up-to-date in order to enable your sales and marketing teams to have a clear picture of your target accounts so they can coordinate strategies and reach out with confidence and messaging that addresses the accounts’ pain points.
Account prioritization identifies which accounts are most likely to convert by creating a single score incorporating various data sources. o prioritize, you need enough data to power your scoring model in order to understand which accounts are in-market and which make the most sense to start targeting. The more data you have, the easier it will be to train your model to continue identifying which accounts are likely to convert.
Account scoring models can identify the key features of accounts to show you what to chase…and what to avoid. With a clear understanding of what’s hot and cold, you can determine which accounts meet your qualifications, have the right firmographics, and exhibit the strongest intent signals so you can prioritize with ease.
Having an account scoring model in place enables sales and marketing to do account prioritization and accurately spot in-market accounts so that they can run successful, targeted ABM campaigns. Without a scoring model, teams won’t be able to prioritize accounts in an ordered, data-driven way or properly adjust or filter based on essential criteria.
Focusing on the wrong accounts leads to outreach that doesn’t make sense. You may be wasting time and energy, for example, chasing leads that have already made a purchasing decision, or don’t even have a product/service fit while other dream accounts slip through your fingers. However, when you achieve accurate account focus, you’ll miss fewer opportunities and work with businesses actively seeking your solution. It’s a win-win!
Creating an in-market account scoring model that ranks accounts based on the likelihood that they are in-market for your solution requires alignment between your sales and marketing teams. This ensures that warmups and sales touches are completed at an even cadence that can be easily automated.
You can actively guide alignment between teams by using intent signals, alerts, Propensity data, and data enrichment. When you know which product or service an account is in-market for, you can pass that critical information to sales and marketing teams to align messaging and target specific accounts with the right offering at the right time. This ensures you’re increasing win rates and landing key industry accounts over time.
The most impressive aspect of in-market account scoring models is that they can be extremely cost-effective. Since you’re focusing on fewer, ready-to-reach accounts, you’ll be able to choose an approach that matches your budget. This cuts waste, increases operational efficiency, and opens up a whole new realm of growth possibilities
Cutting out 95% of the noise and focusing solely on identifying the 5% of in-market accounts that matter is vital to any company’s bottom line. This is especially true for smaller businesses and startups looking to grow their business while remaining agile. It enables teams to prioritize leads, focus resources, and positively affect an evolving sales strategy.
Typically, investing in ABM is an expensive endeavor. But with Propensity, an ABM platform designed with small teams in mind, that’s no longer the case. For a fraction of the cost of traditional ABM services, Propensity users gain access to everything they need to start their ABM journey - including finding and scoring in-market accounts.
ABM has the potential to be transformative, so it only makes sense that your target account list evolves into your go-to in-market account list. However, in order to get there, you need an account scoring model that aggregates data points and puts them to work in your CRM. Guide your process with precision so that you can organize, aggregate, and prioritize intent signals into a comprehensive In-Market Account List. Once you have this information, you’ll be ready for the next step in your ABM journey.
ABM shouldn’t be incomprehensible. We're here to help you create in-market account lists to hit your desired growth targets. It starts with locating those top 5% in-market accounts that can help you reach your own internal sales targets. Learn more about building a personalized in-market account scoring model with Propensity. Click here to book a demo today.
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