Account Based Marketing
overview
Marketing solutions for the Account Based Marketing Industry
A common B2B Marketing strategy that is usually played out assumes that casting a broad net marketing strategy would increase the reach and maximise the investment. Doing this can reach as many companies as possible with optimum usage of budgets, and it may sound like a very logical strategy. However, there is a critical consideration that is missed out. One has missed out on considering the specific concerns of the individual company, and as such, the campaign loses relevance and often becomes unsuccessful.
Account Based Marketing (ABM) is a focused B2B strategy. Here sales and marketing teams focus on selected defined target accounts which has an above-average probability of conversion giving room for the creation of bespoke campaigns, distributed through ideal marketing tools, crafted to resonate and gain attention with the selected account to ensure there is a higher conversion chance.
The name Account Based Marketing stems from the fact that your marketing message is focused by resonating with the individual attributes and needs of the account you are targeting.
Research from the Alterra Group suggests that 97% of marketers believe that ABM has a much higher ROI than traditional marketing initiatives. When measuring ROI, 85% of marketers agree with this belief.
The ABM edge for Tech Companies
Every Tech company’s dream is to win high-value customers consistently. ABM Strategy gives this unfair advantage over the traditional wide-net approach when it comes to the initiatives of the sales and marketing teams
As the name signifies, ABM has to have a higher customisation for each account, translating towards the increased cost for effective roll-out. A higher price has been a traditional deterrent for many companies. Today, the latest tech inventions and interventions give new-age marketers the edge. ABM strategies can run at a far more cost-effective rate than historically possible. Add to this the possibility of Scale!
Our Research shows the
5 Reasons why ABM is the way forward
Clarity on ROI
Numerous assessments, research groups and reports have quoted saying, ABM implementation when done right, results in exceeding business results. ITSMA Account Based Marketing Survey discovered that in comparison to other marketing strategies, “ABM delivers high Return on Investment compared to any other B2B marketing strategy or tactic.”
Focused Resource Utilisation
Running extremely focused marketing strategies tailor-made specifically for the targeted account means that every second spent on marketing is optimised. Less time spent throwing wide nets in the hope of catching a client, but rather, focused streamlined operations that reduce costs and increase results.
Individualised and tailored for you
Every account is unique, and each would require customisation. This is key in every ABM plan. Your messages need to be meaningful to connect with the target audience within every targeted account so that your customers would be more likely to engage with you. When executing ABM, one needs to ensure that the campaigns run are relevant to their business and stage in the buyer journey.
Clear Analytics and Measures
ABM’s focussed approach ensures that measuring your effectiveness is a more straightforward process as you have a much smaller data set to compare against a wide net approach meaning relevant reports with conclusive interpretations are generated irrespective of the dynamics of the campaign. Campaigns are run as emails, ads, web events, and this can be individually done or as a permutation combination of them as well. This list is by no means comprehensive.
Sales Alignment made simpler
Companies generally have issues aligning sales and marketing teams. ABM makes this much easier since the marketing teams and the sales team have very similar generic goals. i.e. identifying accounts, targeting the accounts, engaging with them and ensuring revenue is generated from these accounts.
our approach
Account Based Marketing in Simple Steps
Identify & define your high-value accounts
An existing repository of industry data and business intelligence, one can identify and prioritise high-value accounts that are worth targeting with Account Based Marketing. While choosing, be sure to have multiple strategic factors that are used to consider the account. These include purchase frequency, higher average profit margins, revenue potential and market capitalisation, etc.
Identification of Internal players and how they map within the targeted organisation
Assess the account selected and derive a detailed map of their structure by identifying how decisions are made and whom they are made by. Also, have a clear understanding who are influencers within the account as well. This makes a targeted approach easy and will simplify the process of creating a proper and effective action plan.
Personalise your communication
ABM Strategy is most effective when you identify, address and dissipate relevant, precise content addressing business challenges of the designated target accounts. If you can engage using a specific pain point that affects the target account, then you would effectively engage with them. In simple terms; take an identified problem of the business, address it, and produce content to engage with the identified players within the account.
Select channels that are best-fit for communication
One size does not fit all. In today’s world, we communicate using multiple channels. One needs to identify which channels your audience is on and use it to communicate with them. Every player within the account may not use the same set of channels; however, one can identify the best channels and deploy relevant content. This omnichannel approach gives you leverage to target selected decision-makers and influencers within an account
Make campaigns to structure your communication
Addressing potential clients business challenges is the key. This needs to be done in an organised and coordinated manner. Create campaigns that will synchronise your message across the various channels and align your teams accordingly for maximum effect. Use the latest MarTech options to execute your play seamlessly.
Analyse and Respond
No campaign is perfect, and you should be ready for change on the go. Ensure that data is collected every step of the way to ensure that you can analyse this data and measure its effectiveness. Optimise your ABM play accordingly so that it is effective, scalable and relevant. Analysis should be done on a micro, mezzo and macro level to get a more accurate and concise result.
Expertise
Our ABM expertise
In keeping up with B2B marketing trends, you know that ABM, or Account Based Marketing, has become the new standard for strategic marketing efforts. In short, it’s a focused-targeted approach in which an organization engages with best-fit selected sales prospects through high impact, personalized communication.
When we work with you on winning specific accounts, you can count on Growthfluence to:
- Develop your Account Based Marketing strategy in alignment with your business goals and objectives
- Precisely map out your customers’ buying journey and event triggers to develop segmented lists, content and campaigns that engage at every possible touch-point of the customer journey
- Make sure you’re in front of your targets wherever they look, go, read, watch, learn and buy – with an omnichannel strategy that outranks even your fiercest competitors
- Get those specific accounts you want to win into your funnel mix and nurture-market them to further the sale.
Account Based marketing (ABM) doesn’t have to be a challenge for your marketing department. We’ve developed proprietary ABM best practices and a surprisingly cost-effective approach to run high-yield, targeted campaigns that market to specific people with specific job titles at best-fit organizations.
