Click here to grab the latest Monsters of Funnel eBook!
If you’re looking to take the stage and really rock account-based marketing, the first step is knowing who your audience is.
But before you get the set started, there are a few acronyms that must be defined to avoid confusion. We know: acronyms are a bummer, man.
But these can actually make you money and they set the stage for the data needed to become a successful account-based marketing rock star.
Let’s dive in.
Just like the heart of rock and roll is the beat, the ICP is the heart of account-based marketing.
Make sure to include any possible bit of information you can and the ICP is comprised of both account-level and individual buyer nuances.
This is an extremely important concept, because in ABM accounts never stand alone, meaning that demographics alone don’t tell the story.
Instead, we’re looking for certain types of accounts comprised of certain buyer traits and committees. That’s right, even the relationship of the buyer to other influencers at a company can be important.
For example, LeadMD works with a lot of B2B organizations, big enterprises as well as hyper-growth early adopters. Sometimes a hyper-growth organization will function like an enterprise division, sometimes a smaller account will look and behave more like a large enterprise. For these reasons, the relationships within the account as well as the account itself are important to identifying a persona. In ABM, the details matter. A lot.
When it comes to uncovering these complex nuances, organizations traditionally generated target account lists by guessing or using filters such as company size, revenue, or vertical. It was definitely low-fi.
Now, with predictive analytics, marketers can create quantifiable target lists based on multiple variables. Predictive analytics, including predictive demand generation, can help identify new accounts that are likely to convert and become desirable, long-term customers.
IBP – Ideal buyer persona
To continue stripping down the sound, the ideal buyer persona fits inside of ICP. IBP is a detailed profile of your ideal buyers based on market research and data about your clientele. The more detailed they are, the most results they will yield.
The result? Ideal buying committee.
Even though Ringo is the forgotten Beatle, they wouldn’t have sealed the deal without drums. Likewise, even though your sales team hates procurement, they can’t get a deal done without them.
With the full picture assembled, it’s easy to get the lowdown on who’s involved in the buying committee at each of your targeted accounts. Then, you can work to develop content and messaging that resonates with the proper roles. What’s more rock and roll than playing a crowdpleaser?