Sometimes it feels like your lead generation efforts amount to throwing money out the window.

If your sales and marketing teams are spending time and money to bring potential customers into the funnel, but your hit rate is single-digit, then it’s time to think about using Named Account Marketing.

What is a Named Account in ABM?

The term ‘named account’ in account-based marketing might have come up during your latest brainstorming session about a strategy for lead generation. And no, it’s not those off-color nicknames you might have for your more challenging prospects.

A named account is one that has been identified as a valuable potential customer, based on predefined metrics, such as sales revenue, location, ‘fit’ with your industry, strategy and current customer base, existing relationships and current needs (on both sides of the table).

Responsibility for calling on this prospective company – and all relevant decision makers from the CEO to the purchasing manager — is then assigned to a specific sales and marketing team.

At metadata.io, we call these opportunities ‘target accounts.’  We’ve outlined our approach for identifying buyer intent and developing persona insights in earlier posts. Our guidelines help you dig deeper than basic metrics to more precisely define your target or ‘named’ accounts.   

Benefits of a Named Account Strategy

In a B2B world, decisions are rarely made by a single individual. According to the Harvard Business Review, “the number of people involved in B2B solutions purchases has climbed from an average of 5.4 two years ago to 6.8 today, and these stakeholders come from a lengthening roster of roles, functions, and geographies.”

A Named Account strategy improves the efficiency of your selling efforts. Here’s how:

The decision to move to a Named Account selling strategy can exist outside of Account Based Marketing.

But simply identifying potential customers to call on without a supporting marketing plan is like buying all the ingredients for a great meal, leaving them on the kitchen counter and hoping the meal appears.

Named Account Marketing acts as the ‘chef’ bringing together the right combination of ingredients to deliver a compelling, ‘tasty’ and personalized message for potential customers to savor, so much so that they return to the buffet for more.

Tailoring your informational menu to specific accounts can be completed manually, but data-driven approaches are more likely to improve your team’s efficiency as they develop targeted materials and strategies.

To get the most out of your named account marketing efforts, focus on these ideas:

Conversational, engaging, funny content makes you approachable and relatable. Even though we think the metadata approach demonstrates out-of-the-box thinking that will create a paradigm shift and leverage big data to generate high ROI, we try not to mention it.

How Named Account Marketing Works for You

Named Account marketing facilitates conversations, fosters trust and builds relationships. It allows you to walk with customers in their environment, at their pace, and demonstrate how your company can help address the problems they’re facing.

When done right, Named Account marketing will lead the customer to turn to you and say, “Thanks, now, let’s draw up that contract and I’ll get you a purchase order.”

And the best news? You don’t have to go to the Culinary Institute (of Marketing) to provide a satisfying marketing program to your Named Account. We’re here to help.

Metadata.io acquires Reactful to continue building Marketing OS for B2B.
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