A target account represents a company identified as being well-aligned to the ideal customer profile and thus selected for prioritized sales and marketing focus due to its revenue potential and predicted likelihood of converting to a customer.
Common factors determining target accounts include industry, size, technology adoption, growth trajectory, and potential volume. Updated ideal customer profiles and total addressable market evaluations keep target account lists current.
Developing focused target account lists helps concentrate resources on best-fit prospects most likely to purchase at scale over time versus scattered prospecting. Researching and crafting tailored campaigns for defined target accounts enhances relevance, conversion rates, and deal values. Highly targeted sales and marketing is far more effective than broad undifferentiated outreach.