1:1 ABM Marketing Research Guide
You need good insights to drive an effective 1:1 ABM program. Relevant company insights come from researching your target accounts. The amount of research will reflect what tier your account is in (Tier 1, 2, 3). Target account research is time consuming no matter who does it, sales, marketing, or both.
Your company insight profile must be a living document updated regularly with new relevant information. The entire account team should be updated when a change is made to the profile document.
Here are some tips on how to research your target accounts for 1:1 ABM Programs
1) Research the company by looking at their financial statements (Income Statement, Balance Sheet, & Cash Flow), Market Cap, 12 month stock performance, and merger & acquisition history. How is the company structured from a divisional, subsidiary, or business unit perspective?
2) Research the executive leadership team and management teams, their culture, values, attitudes, preferences, and biases. How long has the individual been in their position? Are they new (willing to change)? Or have they been in their role for a long time (stuck in their ways)? If you're marketing to specific executives, do you know where they went to university? Their favorite sports teams? Their general interests? And what conferences they've attended and which ones they'll be attending in the future?
3) Research the target company's business model, their strategies for growth, strategies for operational efficiency, recent successes, failures, or gaps. The annual report and the latest earnings call are great resources.
4) Research the target company's market conditions. Identify their top competitors and measure your target account's performance against the competitive landscape. Are their favorable market conditions, are there any federal or state laws or regulations affecting how the company does business?
5) Research your connections to key executives within your target account. Are there any relationships between current employees at your company and key contacts at your target account? Are there any board level or senior executive relationships between your execs and your target company's execs? Does anyone belong to the same groups or associations?
6) Research the internal communications history with the account. Have their been any past emails, letters, discussions, meetings, proposals, or contracts?
7) What does the technology landscape look like? Are any of your competitors currently doing business with the target company? To what extent? When does their current contract expire? Research the technologies in use and know where your competitors and partners are doing business. Are there any opportunities to work with technology partners in the account?
8) Download databahn's 1:1 ABM Marketing Guide to Researching Target Accounts for ABM Programs for more ideas.