Account Profiling – demand-generation

Boosting sales and adding to the profit is at the core of every business organization. In the case of a B2B organization, the focus is on lead generation. Each business operation has to be handled effectively to streamline strategies which can generate positive B2B sales lead.

Let us move ahead and see how account profiling can help in lead generation.

What is Account Profiling?

Account Profiling which is also called prospect profiling or customer profiling includes collecting information related to the concerned profile (company) in order to plan out a perfect sales strategy. Collecting every possible data of the prospect helps in categorizing the complex data and make the decision making process simpler. When the sales team is equipped with the correct & sufficient data about the prospect, it becomes easy to handle the profile and pitch for more.

Account profiling includes collecting data such as the business profile, history of the prospect, SWOT, challenges, milestones, market trends, etc. Once you know all these factors & more you also understand if the concerned lead has enough potential or the lead is dead. When the team knows which leads to focus on, the team saves its efforts for those leads and ignores the rest. This ultimately can boost productivity, and lead-to-client conversion is higher.

Here is how account profiling can help boost your sales success:

Updated Account Information-

Account profiling is about gathering data through research, hence the data collected has a deeper value and understanding of the prospect you are planning to convert or work with. Hence, you know that the data is worthy and the information you have is crucial.

Your team can use this information to framework the perfect sales pitch covering their pain points and your exact solutions. Here, your chances of converting a lead into the client are more.

Contact:

When you gather all the necessary data about the prospect, it also comes with a list of dignitaries you will have to contact so as to move toward the prospect lead. You know which protocol to follow in order to reach the prospect in the best, easiest and safest way possible. your sales team knows whom to reach first and what to talk with them in order to move ahead in the process.

It makes you look professional as well as saves a lot of time. Plus, the impression you create on the prospect by following the given protocol and hitting each cord right is phenomenal.

Competitors:

The world runs on data and account profiling provides you with the one. So, if your sales team is efficient enough to use this data, you have a chance to stand out in the market and get an edge over your competitors. Customized sales approach can be framed to pitch the prospect. Effective Prospect profiling blended with the market insight allows you to build a product that is unique enough to give you a distinct market identity, attractive enough to impress the prospect and effective enough to help the prospect in getting what it needs.

Sales & marketing becomes more efficient:

Account profiling increases the accuracy of the forecast, along with making your sales and marketing process efficient. Knowing information about your prospect makes it easier for you to devise a sales strategy that they cannot deny, thus having a positive impact on the sales of your B2B business.

It also makes your business more profitable and helps you in understanding the budget and buying processes.

Other advantages:

As you already know what there is to know about your prospect, you can help craft a message that will most definitely grasp the attention of your prospect.

Apart from that, the accuracy and the updated information helps in shortening your sales cycle. It also opens your business for possibilities of up-selling and cross-selling, which eventually boosts the average sales of your business.

So, this was everything you needed to know about account profiling and how it can help your B2B business in increasing sales.

Imagine that you have a thorough understanding of your target accounts, which can give you a competitive advantage in marketing and sales. They help you prioritize calls, create personalized messages that attract attention, encourage decision-makers to consider your products, shorten the sales cycle, and close the sale.

Sounds like your sales graph knocking every point towards the peak, right?

There is a big difference between a potential business and a venture that is out of business. Generally, accurate account profiling can fill the gap most effectively and robust your sales which come with an added benefit of knowing which track to look for and where to hunt. The B2B account profiling provides decision-making information for effective communication and tailored solutions that lead to higher and more dynamic conversions for your investment, as well as efforts.

Most strategic accounts are the double-edged swords and it has been seen that these key accounts hold a huge margin in terms of revenue. Leaving these gemstones unturned might turn them into a fallow stone and can be overlooked in spite of considering it as stepping stone for your business objectives.

Obtaining in-depth details of the key accounts is strategically driven by B2B marketing campaigns. And this has a direct link to account-based marketing (ABM). As the adoption of ABM (account-based marketing) has been accelerating since last some years and with its deep penetration in marketing funnel specifically in prospect profiling, it is predicted to have a transformative impact on the B2B sales and marketing.

What can be missed if your process isn’t efficient enough?

Account profiling is the process of acquiring every succinct intel of the target accounts that help in customize and personalize the campaigns. And if things don’t go well, it brings some serious consequences related to sales of the company.

Account profiling help you in,

Engaging with a potential client that suites best for your service offerings
Analyzing their long list of collaborated vendors and suppliers
Providing POCs and decision-makers who are perfect to pitch you proposals
Buying patterns, business & financial activities, and recent news

If you don’t know what you’re dealing with, you can venture into a maze and wander aimlessly until you reach a dead end. But the account profile offers a master card to crack the maze. It decrypts the people involved in the decision, their role and the problems they face.

If the process makes you twirled in the logic and strategies and still leaves you nowhere in the process of onboarding clients. Consider some of the account profiling services which assist in running prospect profiling.

Tag: Account Profiling

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