Spot Your MVPs (Most Valuable Prospects) and Break into New Markets

While some customers have a simple buying process, your most valuable prospects often need extra care. For these important leads, sales and marketing should work together with a clear, targeted approach. Focus on key accounts for better business results.?

Account-based marketing (ABM) boils down to this: Pick a few companies that could greatly boost your revenue. Then, create custom marketing plans for each one.

But which companies should you choose?

Picking the right accounts is necessary for your ABM to be successful. Many experts say it's the most important part of the ABM process.

If you don't choose your accounts well, the rest of your ABM efforts (like how you reach out or what content you create) won't be effective.

Let’s look into some tips on how you can actually best identify your most valuable prospects (MVPs).

Check Your Current Contacts

Start by reviewing your existing sales pipeline. Look at the accounts you're already working with. You might find some deals you can speed up. Consider if any of these accounts are worth focusing your marketing and sales efforts on.?

Pay special attention to accounts that show promise or have been responsive to your efforts so far. As you analyze these existing contacts, consider which ones might be ideal candidates for a more focused approach. Some accounts may have untapped potential that could be realized with concentrated marketing and sales resources.?

By prioritizing these high-potential existing contacts, you can leverage your established connections to potentially secure larger deals or expand your business relationship. This approach allows you to build on existing familiarity and trust, which can be more efficient than starting from scratch with completely new prospects.

Look at Recent Sales?

Check your latest successful deals. These customers might buy more or different products. They may be open to purchasing additional products or services that complement their initial buy, a strategy known as up-selling. Alternatively, you might find opportunities for cross-selling, where you introduce them to different product lines that could benefit their business. Don't overlook the potential of other departments or divisions within these customer organizations. A sale to one branch often opens doors to others, as your product's success can be showcased internally. As you see, it's often easier to sell to existing customers than to find new ones.

Use Tools to Sort Your Contacts?

Tools can help you see who's visiting your website or opening your emails. These engaged contacts might become important customers. For example, you can track website visitation patterns to see which contacts are actively exploring your online presence. Similarly, email open and click-through rates can reveal those who are most interested in your messaging and content. Individuals or companies that demonstrate this type of active engagement are prime candidates for further attention within an account-based marketing strategy. They have already shown a willingness to interact with your brand, suggesting they may be more receptive to a tailored, personalized approach.

Check Your Social Media Followers

Don't ignore your social media. While it may be tempting to dismiss your social media followers as mere casual connections, it's worth taking a closer look. Some of these individuals or companies could represent sizable business opportunities that you may have overlooked. Some of your followers could be potential big clients.

Which accounts are engaging with your content the most? Are there any industry leaders or influential figures among your followers? These engaged and authoritative contacts could be excellent candidates for targeted outreach and personalized marketing campaigns .

Furthermore, social media can provide valuable context about a prospect's interests, pain points, and potential needs. Examining their public-facing social activity can give you a better understanding of how your products or services could uniquely benefit them. This information can then be used to craft highly tailored and compelling ABM strategies.

Related: A Hands-On Guide to Gaining B2B Leads from Social Media

Go to Industry Events?

Attend trade shows and events when you can. These are great places to meet possible high-value contacts. When you attend industry events, you gain access to a concentrated pool of individuals and companies that are actively involved in your space. These events attract decision-makers, influential figures, and qualified leads - the exact types of accounts you may want to prioritize for your ABM efforts. By being present at these functions, you can network, make new connections, and gain valuable face-to-face time with prospects that may be difficult to reach through other marketing channels.

Let’s see how a lead generation company can boost your sales .

Finding the Right Accounts

With account-based marketing, you focus your efforts on just a few high-potential customers. But before you choose those accounts, you need to understand the full scope of your target market.

The key things to look at are:

Total Addressable Market (TAM) - the total number of companies in your market Minimum Viable Accounts (MVA) - the minimum number of ideal accounts you need to reach your ROI goals

This will help you see the difference between selling to enterprises vs. small/medium businesses . Then you can tailor your strategy accordingly.

Understanding Key Buyer Roles

In B2B purchases, decisions often involve around 6 to 7 people. These decision-makers usually fit into one or more of these important roles:

• Champion (or Coach): Your biggest supporter within the company. They can offer valuable insights into the buying process and the people involved.
• Influencer: A person with authority or expertise who heavily influences the decisions of other buyers.
• Economic Buyer: The one with the final say, who can approve the budget for the purchase.
• Technical Buyer (or Ratifier): Focused on specific concerns like security, compliance, or legal matters.

Understanding who fills these roles is just one part of account profiling. You also need to understand how these key decision-makers interact and influence each other. This deeper knowledge is essential for creating a successful account-based marketing strategy.

Check out why outsourcing lead generation services can help your business.

In Summary

Account-based marketing helps you zero in on the most promising accounts. By picking high-value prospects, you can make better use of your marketing resources.

Setting clear goals and using the right ABM tools also promote teamwork across your sales, marketing, service, and other teams. This focused approach can bring in better returns, making it totally worth the effort.

The trick is to find the right accounts and get everyone on board to deliver a personalized experience for those top prospects. With the right ABM strategy, you’re on track for some serious business growth.