target account list creation

The 5 Steps In Target Account List Creation

When it comes to Account-based Marketing (ABM), the right approach to target account list creation is critically important. It’s a fundamental step towards reaching your best-fit Healthcare organization prospects.

This simple graphic from Demandbase lays out the target account list creation process. It provides a nice simple way of thinking about the different ways of narrowing your target in terms of:

  • Your total available market
  • The target market you’re focusing on
  • The segments
  • What a target account looks like
  • Who to pursue in particular within those segments.

Once you have a target account list built, the next step is to analyze behaviors from those accounts in order to identify who is engaged and the available opportunities.

The 5 Steps In Target Account List Creation

The 5 steps involved in creating your Healthcare Organization’s Target Account List are:

1. Segmenting the Total Available Market of Healthcare (TAM)

If you operate in the $3.6 Trillion US Healthcare, the challenge is to determine your specific segment.

In a future post, I will dive into this in more depth but a typical example would be healthcare provider systems.

2. Defining Your Ideal Customer Profile (ICP)

In traditional B2B marketing, this step is important. In ABM, this is critical. You need to be precise on how you define your Ideal Customer Profile. In this post, I dive into how to do this.

3. Finding The Best-fit Target Accounts

This is THE most important step. In this phase, you will have used third-party data to develop a list of target accounts. Now, the aim is to determine which of these are your best-fit accounts.

I will go into in detail in the next few weeks but a simple tip – it’s about how you disqualify accounts that don’t meet your criteria.

4. Target Accounts’ Engagement and Conversions

Once you have a list of best-fit accounts, you will want to develop a disciplined process in how you monitor how often and how much your best-fit accounts engage with you.

5. Optimizing the Target Accounts List

Last but not least, managing your target account list is a dynamic process. You need to optimize your best-fit account list frequently.

In fact, you will want to look at ways to do this in real-time. In a future post, I will share how this can be done.

And because you’ll be gathering more information from your Accounts List as you optimize, you’ll be in a better position to evaluate their performance.

You will be qualifying in and qualifying out Accounts in real-time.

Adam Turinas

Hi, I am Adam Turinas, Healthlaunchpad's founder. I am passionate about helping healthtech firms succeed through better sales and marketing. I have hard-earned experience in healthcare technolgy as I started two healthcare businesses in the US, the first with zero healthcare experience. We sold the second business to a strategic buyer seven years later. Over 9 years building a healhtech businesses, I have learned how to sell and market effectively to healthcare organizations. Prior to this, I spent two decades in digital marketing across healthcare and other consumer industries where I sold over $100 million in products and services to corporations and healthcare orgs. I would love to talk with you. You can book a call with me on the right hand side. Best Adam

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