When you hear the acronym AMC, what do you think of? The movie theater chain? The cable TV station? Here at ConnectLeader, our Director of Inside Sales, Joe Cronin, has coined a new B2B sales and marketing phrase for AMC and you’re one of the first to know about it. Ready?
Addressable Market Coverage.
Read on to learn just what Addressable Market Coverage is and why it’s so important for your sales team.
The Definition of Addressable Market Coverage
First, you’ve probably heard about your TAM, which stands for “Total Addressable Market.” According to Hubspot, it’s the most amount of revenue a business can possibly generate by selling their product or service in a specific market. In other words, it is the total market demand for a product of service.
Now that you know about your TAM, here’s what Addressable Market Coverage (AMC) means:
“The ability to actively and consistently access decision makers and deal influencers within your total addressable market to find and contact new revenue opportunities.”
Who’s in Your Addressable Market?
To determine your Addressable Market, use your Ideal Customer Profile (ICP). For example, your ideal customers could consist of C-level (including CROs and CMOs), Vice Presidents, Directors, and Managers who use Salesforce and work in marketing or sales for both public and private companies in the US.
If we ran that profile through a database, we could, hypothetically, wind up with an Addressable Market of over 300,000 contacts. When going through that list, there might be thousands you could take away because they’re people from an industry that you are not targeting. However, 300,000 is still a large universe of potential customers.
How to Figure Out Your Addressable Market Coverage for Dials
Can you contact all of those 300,000 people in one day? Of course you can’t.
Especially when you take into consideration that it takes roughly 25 dials (cold calls) to make one connection.
Do the math.
25 dials (to get to 1 connect)
7,500,000 dials to cover your Addressable Market with dials
How to Figure Out Your Addressable Market Coverage for Emails
For sales outreach through cold emails, the metrics are as follows:
300,000 contacts in your addressable market
5 emails sent out per contact per year
1,500,000 emails to send out for Addressable Market Coverage via email
How to Handle Addressable Market Coverage
Now that you know your sweet spot number for dials and emails, what can you do to cover your Addressable Market efficiently?
- Send more emails. Preferably, you should use a sequencer like TruCadence that helps you send out emails to your contacts using industry- and persona-specific cadences for the proper messaging that gets interest and responses.
- Make more dials. To make the most calls, and spend less time with the annoying tasks of navigating phone trees and dealing with voice mail systems, look into agent-assisted dialing and specifically HUMAN agent-assisted dialing in the form of Team Dialer.
Once you’ve sent the correct number of emails and made the right number of dials for Addressable Market Coverage, you’ll:
- Have more conversations
- Set more meetings
- Make more sales
Questions to Ask Yourself about AMC
- Do you think you have an addressable market coverage problem?
- How many decision makers are in your addressable market?
- What percentage of your addressable market are you covering?
Once you’ve asked yourself these questions and have answered them—and are probably wondering what to do now—reach out to us here at ConnectLeader today to learn more about our entire suite of B2B sales engagement software, including TruCadence and Team Dialer. Simply click here or give us a call at 800-955-5040.