One of the most difficult things for a seller is releasing an account they have not been able to sell. It is human nature to keep it, ‘just in case,’ and it is a manager’s responsibility to work with sellers to keep a short list of key and target accounts.
There are many ways to accomplish this goal.
1. Leverage Data-Driven Insights
- Go beyond firmographics: Don't just rely on company size and location. Utilize tools like Bombora Intent Data or G2 Buyer Intent to identify accounts actively researching solutions like yours.
- Analyze current customer data: Mine existing customer data for commonalities like industry trends, buying cycles, and decision-maker profiles. Apply these insights to identify similar high-potential accounts.
- Tap into marketing automation: CRM and marketing automation platforms often hold a wealth of data on prospect engagement and website behavior. Leverage these insights to prioritize accounts showing genuine interest.
2. Prioritize Fit Over Quantity
- Refine your Ideal Customer Profile (ICP): Revisit your ICP considering market changes and competitor analysis. Ensure your list aligns with accounts that truly benefit from your solution and have the budget to match.
- Focus on winnable deals: Evaluate the competitive landscape and identify accounts where your unique value proposition shines. Prioritize accounts where you have a clear advantage and a strong win potential.
- Consider internal capacity: Align your target list with your team's expertise and bandwidth. Spreading yourself too thin across numerous accounts can compromise deal quality and lead to burnout.
3. Targets vs. Key Accounts
A proper ALMS, account list management strategy, will help sellers and managers identify target and key accounts. This is a crucial practice that will ensure your sellers are spending the time on their best opportunities.
Remember, for a target account, you will need to determine if the account has fit, dollar potential, and if you have access to the buyer. All key considerations for an effective target list.
Conclusion
There is nothing more satisfying than a clean inbox; reframe your thinking to allow for the space for a clean account list with true business opportunities and leave the others for another seller.
