Account-Based Marketing (ABM) strategy shift from marginal to mainstream has been dramatic. ‘Being the next big thing’, ABM has taken center stage with B2B marketing of all sizes.
According to ITSMA, 85% marketers who measure ROI say account based marketing delivers higher returns compared to other marketing approaches. ABM is a strategic marketing strategy where key business accounts are marketed to directly as one. High-value accounts or prospects are identified, main stakeholders are targeted, and then marketing strategies are implemented through various channels, appealing to their interests, needs and personas. With ABM, you can eliminate unqualified buyers right away. This leads to a shorter sales cycle since your focus and efforts are on accounts that are more likely to buy.
According to “The Forrester New Wave™ report, more than a third marketers said they are experimenting with an account-based approach or getting started with ABM in 2018. The reality is that companies are moving ahead with different types of ABM objectives, strategies, and initiatives. Here are some steps that will ensure you start off on the right foot, to be a successful ABM practitioner:
Identify strategic accounts
Account based marketing is about marketing to a whole organization rather than an individual, which is a starting point. AMB efforts start with identifying companies that bring in large revenue to your organisation – company size, annual revenue, upsell opportunity, etc. These companies should be in your priority funnel.
Account-based marketing techniques are used by b2b marketers for the sole purpose of focusing their time and resources on a relatively small number of accounts that have the greatest value potential. So finding the perfect accounts to target is a darn important step, and if you get it right, you’ll get the most return.
ABM’s main focus is personalization, with content that speaks directly to the targeted stakeholders and organisations. There is no space for boring generic content that offer no specific value. You should understand these stakeholders’ specific pain points and appeal to how you can solve them with your messaging at different stages in the funnel.
Account based marketing makes use of CRM software to keep track of important details learned through conversations with decision-makers. It gives all sales and marketing employees a master cheat sheet to work from during their relationship-building efforts. It also requires marketing and sales to collaborate efficiently and effectively to target these contacts.
Align sales and marketing teams
According to research, 70% of AMB users report that their sales and marketing teams are completely aligned compared to the 50% non-AMB users. For successful ABM, sales should provide right feedback and marketing should provide relevant resources.
Make use of best channels for your campaigns
83% marketers state increased engagement with accounts as the biggest benefits of account based marketing. Target accounts will engage with content if its convenient to them. And what better way to use channel that they are already using. This could be email, social media, online advertising, or traditional marketing.
Facebook and LinkedIn can be powerful platforms to target these stakeholders because you can actually run campaigns to appeal to specific organizations, as well as titles within those organizations.
- Choose your audience- people, accounts, opportunities; based on real-time engagement
- Be reactive to multi-channel capabilities — all available directly from within the system
- Create scenarios s to automatically run right actions at the right time
- Receive alerts on target accounts to trigger action both automatically or on demand
AMB adds value to your business as it allows you to focus your time and resources on accounts that are more likely to convert and drive more revenue. To know more about how Vsynergize is helping Enterprise firms with their ABM efforts reach us now by simply giving us a call on 855-203-8196 or email at email@example.com