We’re going to let you in on a little secret we’ve learned here at RollWorks: your account-based program is only as successful as the data it’s built on. It’s also about the quality of data, not just quantity. Quality data equips you with the account-based insights you need to choose the right target accounts, reach more contacts, and ultimately, win more deals.
That’s why we’re thrilled to release our Identification Solution, the most recent addition to the RollWorks Account-Based Platform. Built for ambitious revenue teams looking to deliver market-leading account-based programs, customers can identify their ideal customer profile (ICP), target accounts, and key buyers within those accounts. The Identification Solution surfaces insights and targets from a B2B database of 320 million verified business contacts across 18 million accounts, bolstered by AdRoll Group’s recent acquisition of Growlabs in November 2018. Firmographic and technographic data is continually updated to ensure accuracy and reach.
Whether you’re just beginning to design an account-based program or looking to scale, one thing is clear: ABM is here to stay. Eighty percent of B2B organizations told TOPO that account-based programs improve customer lifetime value, 86% said they improve win rates, and 76% said they deliver higher ROI than a traditional go-to-market approach.
Still, many ambitious marketers can struggle to engage the right accounts. Before you can leverage the power of account-based marketing, revenue teams need to be highly aligned on the key accounts they want to reach.
Defining and Optimizing Your ICP
In order to agree on which accounts to target in the future, you must begin with an in-depth evaluation of your most valuable customers today. This process is formally known as building an ICP, and TOPO research shows those with a strong ICP achieve 68% higher win rates. And it all starts by bringing together the right data—pulling from your sales funnel and website traffic.
Much like building a house on a shaky foundation, building your ABM strategy on inaccurate or misaligned data will eventually bring the house down and require a rebuild. It’s understandable why many marketers rush through this phase; they often only have access to siloed data or want to start demonstrating ROI to leadership as fast as possible. But with ICP Insights surfacing the shared attributes of your ideal customers and website visitors, you’ll be better positioned to leverage your ICP for a high-performing ABM strategy.
For example, are your most successful customers from a particular industry? Do you have a company-size sweet spot? Is there a revenue growth stage that gets the most value out of your offering? Rather than relying on the tedious and often manual process of pulling these insights from various sales and data tools, ICP Insights can help surface them for you.
Building Your Target Account List
Even with a strong ICP, teams can still struggle to identify the right accounts to target. TOPO found that 29% of companies said target account selection was a top challenge for their account-based programs. And since this is where you’ll be investing your marketing dollars, it’s paramount to have access to high-quality accounts that are a fit for your offering.
With RollWorks’ Target Account Selection, we empower marketing and sales teams with the firmographic and technographic filters required to create, segment, and tier a winning target account list (TAL). Our solution comes armed with one of the largest B2B databases to find the relevant accounts that fit your ICP. While many marketers may have already started on their account-based journey and are working with a TAL, there may be limited fields and little information to work off of. Our enriched data can take success one step further. With access to over 20 attributes from last funding round to social media URLs, marketers can build a more robust account list to enable high-performing campaigns.
At the end of the day, account-based marketers need a way to get in front of the right accounts at the right time. That leaves no room for wasting budget on vanity metrics or accounts that won’t convert into customers.
Discovering New Key Contacts
Any marketer who’s been tasked with scaling ABM has experienced an all-too-familiar scenario—you have a great target account list, but limited people to engage with. Ultimately, companies aren’t the entity interacting with ads or content, and definitely aren’t capable of requesting a demo. Our Identification Solution can alleviate the challenge of finding the right contacts within your accounts.
This will give your marketing and sales team the data needed to navigate the growing complexities of the B2B sales cycle, which now requires approximately 6.8 people to reach a purchase decision. Once you work with your sales teams and leadership to finalize an agreed-upon ICP or target account list, Contact Data helps you identify the buying committees you need to engage in each step of the customer journey.
How You Can Take the Lead
To recap, no matter where you are in your ABM journey, quality data is where you need to start. That’s because strong data will help you build an ICP your entire organization can align on. With that ICP, you can then go from “ideal” to “real” accounts and build a target account list. Finally, you can find and buy key contacts within the buying committees at your target accounts. Armed with this list, you can begin running cross-channel campaigns immediately and begin to measure success.
At RollWorks, we love enabling ambitious marketing and sales teams to build best-in-class ABM strategies. Stay tuned as we continue to add more to our account-based platform to make sure you can take the lead, and learn more about our Identification Solution today.
For more information on the announcement, please see RollWorks’ official press release.
About the AuthorFollow on Linkedin More Content by Caroline Van Dyke, Head of Content