Expanding Your Customer Database With Lookalike Accounts
Utilizing Lookalike Accounts is a way to reach out to new accounts that are likely to have a strong fit and need for your company’s product. The first step to any effective account based strategy is having targeted account selection. A good way to do this is by utilizing an ideal customer profile, or ICP.
What is a Lookalike Account?
A lookalike account is an account that is similar to one that you have successfully landed as a customer. Once you find these accounts you are able to begin targeting leads that are the best fit for your company. Lookalike Accounts are more likely to end their journey with a close because they have the same features and characteristics of accounts you’ve already closed on. Identifying these accounts is important because you are able to keep on targeting leads that are only the absolute best for your company.
How Does Predictive Account Discovery Work?
Using an AI predictive tool, like Leadtime, you are able to crunch your current data, along with millions of other external data points. These combined points are typically run through a predictive algorithm that allows you to find plenty of new lookalike accounts for your new target.
Benefits of Account Discovery
Utilizing account discovery allows you to save time, increase ROI, align your marketing and sales teams, and jumpstart your account based strategies. Account discovery also reduces the time it take your sales team to close a deal, reducing the amount of time spent trying to qualify junk leads. Your marketing team also saves time because they already know who they are creating content for and the type of content that works best for your accounts. Higher quality leads automatically increase your ROI. Each time a new account is discovered, it leads to a new conversation between your marketing and sales teams, resulting in greater team alignment. Account discovery is a perfect way to jumpstart your account based strategies because it helps you fill your pipeline while targeting leads that are best for your company.
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