Account-based marketing is a proven strategy for enterprise deals and B2B marketing teams. However, knowing how to execute your AMB strategy effectively requires understanding the ins and out of this method. This article gives you everything you need to know about ABM and how to make this strategy work for your marketing teams.
Why Account-Based Marketing?
ABM uses highly specific, personalized campaigns to target your accounts. Though ABM isn’t the best marketing method for every lead, it’s ideal for enterprise deals. As the name suggests, ABM builds a marketing strategy based on specific accounts. This allows you to address the unique pain points of each customer and provide solutions that meet their needs.
ABM is a one-to-one marketing strategy. Marketing departments focus on one account and pour their energy into selling to the buying team. You appeal to specific personas and spend resources marketing to your ideal buyer’s businesses by zeroing in on individual accounts.
Benefits of Account-Based Marketing
ABM makes the most of your company’s marketing resources. Because the strategy is focused on addressing and resolving an account’s specific needs, you know your efforts allow you to reach accounts with a high likelihood of conversion. Below are just a few benefits of ABM.
Highly Optimized Marketing Funnel
ABM is a highly focused marketing strategy. Instead of casting a wide net and pulling in a few qualified leads, marketing teams target specific accounts and focus their efforts on marketing to –– and converting –– those accounts.
ABM results in a highly specific, highly optimized marketing funnel. Your team markets only to accounts considered likely prospects for a sale.
A partnership between Marketing and Sales
In B2B marketing, marketing and sales must work closely together to provide fast, comprehensive service to customers. By nature of ABM’s design, these departments partner together to target new accounts. Because both teams have the same goal in mind –– that is, both marketing and sales are working to sell to individual accounts –– they work better than in traditional inbound marketing strategies where marketing teams create campaigns targeted at larger audiences instead of individuals.
Higher Return on Investment
Because ABM campaigns are built with efficiency in mind, they’re often considered the “no waste” marketing strategy. However, new research shows that 76 percent of marketers saw a higher ROI with ABM than any other marketing strategy.
While ABM may not be the best fit for every marketing campaign, the numbers prove that ABM delivers the most bang for the buck, especially for B2B companies selling to enterprise accounts.
Implementing Account-Based Marketing
We’ve gone over the why of ABM. Now to learn the how. Then, finally, we can boil down ABM implementation to a few steps.
Identify Target Accounts and Key Stakeholders
The most crucial step of ABM is identifying target accounts and key stakeholders within those accounts. For your ABM strategy to yield the results you want, you must determine the accounts into which you will invest your marketing efforts: organizations that will produce the highest long-term profits for your business.
ABM targets both organizations as well as the individuals within that organization who hold the buying power. B2B buyers are rarely just one person. They’re typically a team of individuals tasked with making purchase decisions that benefit the organization as a whole.
Knowing who these individuals are, addressing their needs, and providing personalized solutions form the foundation of an effective ABM strategy.
Personalization is critical in the B2B world and especially in ABM. Create content and messaging for your accounts. These organizations want to know you’re providing white-glove service at every step of the journey. By creating custom content, you’re speaking to their direct needs and proving you have the solutions your client is looking for.
Execute ABM Campaign
Now it’s time to execute your ABM campaign. Remember that you aren’t selling to an individual. Instead, you’re marketing your goods and services to a team of stakeholders within an organization.
Utilize the appropriate channels to reach your stakeholders. You want to market in a way that is appealing and compelling, not overwhelming and pitchy. Work with other teams within your organization to create visuals and materials that engage your target and communicate why you’re the best choice for their brand.
Account-based marketing is ideal for enterprise and Fortune 500 deals. The nuanced and personalized approach ensures you’re focusing your marketing efforts on accounts most likely to convert. When it comes to B2B marketing, invest your team into target organizations that will provide long-term profits by utilizing ABM.