Being more aware of your Total Addressable Market (TAM) is critical for creating successful marketing campaigns and more opportunity to increase revenue. For ABM marketers, your target audience is a particular portion of your accounts that fulfill a specific ideal customer profile. Calculating your TAM correctly will allow you to efficiently focus on the best customers and prevent you from wasting time and resources on those who do not best fit your profile.
Benefits of TAM
Building your TAM correctly requires you to go through all the accounts you already have and create a structure within your CRM and marketing automation systems to see which of these accounts provide the most opportunity and should be added to your target account list. Analyzing your company’s accounts en masse forces you to go through all your company’s data which is beneficial in narrowing down where your marketing and sales teams should be devoting their efforts.
Why Focusing on Your TAM Will Improve Company Culture
Sales and marketing teams serve influential roles in TAM and target account development. TAM fosters a cooperative environment because these groups serve as a single revenue team by directing their resources toward the same accounts based on a mutual understanding of their company’s ideal customer profile. Building a successful TAM by focusing on accounts that offer the most potential value will also enable your teams to celebrate wins together.
Accelerate Startup Success With TAM
Investors look at TAMs to analyze the growth of tech startup companies over time. For a startup, your TAM plays an influential role in convincing investors that your company will scale quickly enough to capture opportunities. Your TAM also shows insights into how your company analyzes its market, your ideal customer, and provides a guideline for product growth. Having a quality understanding of your TAM enables your company to capitalize on future pitches and investors.
How HG Insights Can Reinvent Your Total Addressable Market
HG Insights’ tech intelligence allows your company to finally identify your true TAM by providing your business with the tech intelligence you need to prioritize the right markets and find accounts that will drive more revenue faster.
To find out how to identify the markets with the most potential value: