What makes account-based marketing (ABM) a successful marketing strategy
Account Based Marketing (ABM) is a strategic approach to B2B marketing based on specific target accounts. ABM helps organizations to communicate well with individual prospects, and you can think of ABM as a one-to-one approach instead of a mass approach. In that respect, it fits in with a social selling strategy. Account-based marketing requires sales reps & marketing professionals to follow those 7-steps in the account-based marketing strategy.
A reliable marketing tactic that generates prospects
Account-based marketing focuses on a few large and important accounts or potential accounts that have the greatest chance of adding something to your business results. That is why it is important to have a very tangible and targeted message to the people so that they do business with your company. Here are some key elements of ABM. Before starting an ABM campaign for the first time, it can be important to decide how many accounts you can manage. If your company is large and more than one person is working on the account, you may want to increase the amount to 50 or 100. Keep in mind, however, that any new account-based marketing campaign takes time to work out and implement, so don’t start with 100 accounts right away when you’re just starting! On the other hand, you should also never select less than 10 accounts: if your company is so small that you can only identify 10 accounts you would like to work with, you may have some issues to look into.
Personalized communication in your marketing campaign
An ideal customer profile helps to address the right accounts. For example, implementing an ABM strategy with personal email introductions addressed to a person rather than a group. ABM takes tailored marketing to a new level by developing content that engages key decision-makers. This tailor-made customer feedback is an indispensable input, both in the idea phase and in the execution and adjustment of campaigns. Marketers are working on increasingly complex projects, where the relevance of all input, accurate planning, and budgeting is essential. The number of parties involved is also growing: everyone has to work together to be successful. However, most teams do not have the right tools to set up an optimal working environment. Research shows that only one in three ABM companies has organized their processes well. This makes it more difficult to switch quickly and effectively run campaigns. This marketing approach gives marketers all the necessary features and immediately leads to more engagement with potential customers. Your target audience will be much more likely to engage.
Efficient use of marketing resources in the sales funnel
Outbound and inbound marketing are used consistently in many different areas. ABM helps b2b companies to structure their marketing efforts and resources on the key accounts that generate the most revenue. ABM can help you identify the critical mass you need to be successful with your product or service. A clear customer profile determines which aspects of your marketing activities will convert best in your sales cycle. Quality over quantity. With such a specific focus, ABM becomes a valuable resource for your sales team. A successful ABM campaign leads to a higher return on investment.
Guaranteed return on investment
A marketing strategy must be measurable, and according to many studies, ABM delivers a higher ROI than other forms of marketing. Measuring the ROI of ABM campaigns is critical and is possible with the many automation and software tools available. Performing a simple web search will amaze you with the variety of tooling stacks you can use to achieve that. This tooling is designed not only to measure the ROI of ABM campaigns but also to map the relationships, which companies and contacts to identify, distribution of different channels within the account, the interaction with customers, etc. All the statistics you to run an effective ABM campaign.
Closer sales and marketing alignment
How often have you seen marketing and sales teams work in separate groups? That needs to change, especially if you implement a true ABM strategy. It requires good collaboration between these departments to identify target accounts and develop outreach tactics for new leads and better deals. Sales and marketing teams who adopt ABM are about 40% more likely to be better aligned with the sales force. They are also 70% more likely to improve their sales performance. ABM is a common denominator for B2B marketers and is often interpreted as another way of lead generation.
LinLeads gives your sales team a head start
LinkedIn gives your sales team a head start when it comes to meeting new customers. Lead Scoring will give you and your marketing team some really important opportunities to work with your competitors that still work with old information. Using LinkedIn Sales Navigator can help you understand your customers’ pain points and provide them with the right solutions to their challenges. It may seem like a waste of money to spend money on marketing items like buying company logos or buying calendars and hiring people to manage that data — but it really is time to now consider adding LinkedIn to your sales and marketing strategy.
You have all the information you need, but now is the time to take action. Make an appointment to talk about how I can help you and your team be equipped with this great tool as efficiently as possible and give them a competitive edge.
About the author
My name is adrian van iersel, I help sales solopreneurs, business owners, and sales teams build their sales pipeline, shorten the sales cycle and generate more business. Our campaigns and programs have a major impact on the way professionals grow their businesses. You can read more about me on my LinkedIn profile.