What are the Account Based Marketing needs of that account?
Apart from generating leads, ABM also takes a holistic marketing view. Marketing existing customer accounts to drive sales and cross-selling is one of the keys to getting the most out of your biggest account.
Benefits of account-based marketing:
Account-based marketing is an increasingly popular approach for B2B companies targeting larger accounts. For businesses trying to sell on large accounts with long sales cycles and large transaction sizes, account-based marketing offers many advantages over other marketing approaches. They include:
Personalized marketing approach:
Rather than taking a generic approach, marketers create personalized messages for targeted accounts, take what they know about their customers, and tailor their campaign creative resources to suit customers’ specific attributes and needs.
Sales and marketing coordination:
Account-based marketing encourages marketing and sales teams to collaborate by identifying the target key accounts, creating specialized campaigns for them, and working together to target and move individual accounts into channels before and after the lead conversion.
Shorter sales cycle:
Many stakeholders are involved in the most important purchasing decisions. This usually slows down the sales process because it starts at a lower level in the organization and slowly approaches the main decision-maker. In account-based marketing, cycle times are shortened because all interested parties are promoted at the same time.
Account-based marketing is precise and scalable and offers the highest return on investment of any B2B marketing tactic. Most marketers who measure ROI describe account-based marketing as having greater ROI than other marketing approaches.
Investing in the right resources:
Time and resources are heavily focused on the small number of accounts that are likely to generate sales. This frees up previously wasted resources.
Example of account-based marketing
Account-based marketing starts with creating meaningful segments and identifying a marketing program that can be tailored to the segments in their channel that are most influential (events, website, email). Each corporate strategy uses its mix of tactics.
The target segments you decide for the ABM program are those that can add the most value to your organization. Here are some real-world examples of how B2B marketers can develop account-based programs:
Face-to-face events are always one of the most successful ways for sales teams to convince decision-makers. ABM’s approach to the event can include personalized invitations for key leads from the target account, special VIP dinners, personalized gifts and swag for the target account, and personalized post-event follow-up.
Like events, webinars can be customized to be relevant and timely for specific target accounts. Webinars and follow-up events can be tailored to specific companies and unique webinar content created for target audiences.
At a time when email is overwhelming for everyone, direct mail is increasingly becoming a popular way to reach potential customers in a company. Because ABM is more targeted, gifts and marketing sent via direct mail can be more valuable because the potential for sales is much higher.
Despite the popularity of direct mail, email is still a valuable marketing channel for ABM. While a volume-based marketing approach can employ marketing templates and automation, account-based marketing involves creating a personalized email for each business and person.
Paid PPC and social media advertising are common ways to reach targeted online accounts. You can target specific companies and individuals on social platforms like LinkedIn and Facebook. Using technologies such as IP targeting and switching, your display campaigns can be customized to focus on multiple targeted accounts rather than building a wide network.
Online ABM campaigns don’t end with traffic via personalized SEM and incoming marketing campaigns. Once a visitor reaches the website, website customization technology can be used to make a personalized account-specific experience for the target prospect comparable to the overall website experience.
Account-Based Marketing is an innovative B2B marketing and sales game changer. By focusing on what is working and trying to turn your clients into lawyers, you are investing your energy in high-volume tactics that promise much better ROI than traditional sales strategies.
Visit our Key Account Management Service
Visit our youtube channel to get more insight on B2B sales and on digital marketing