07 Mar Account-Based Marketing Essentials and Benefits
Account-based marketing (ABM) is not just a buzzword, it’s a reality. When companies segment their audience and create content directed at their most important accounts, it proves again and again to be a successful strategy. B2B companies especially benefit from ABM as 92% indicate ABM as a must-have for their marketing efforts.
And now that Marketo, Inc. has announced their new ABM solution that offers all the essentials of ABM within the Marketo platform, we want to take a closer look at ABM and how it benefits your B2B organization.
ABM Essentials and Benefits
According to Marketo’s ABM authorities Heidi Bullock and Mike Telem, the essentials to ABM are identifying the right accounts, engaging those targets across multiple channels, optimization of programs, and collaborating with sales.
The first essential step in an ABM strategy is to find the most-important accounts to your business. Base your decision on the revenue they bring in and how strategically importance their account is to your organization. Segmentation is the foundation of your ABM efforts, so weigh the benefits before going forward.
Next, you have to personalize your creatives, personalized marketing is the ultimate form of targeted marketing. The best way to reach your most important accounts on a higher level is growing a relationship. If your content is tailored to fit them specifically, they will jump all over it. To guide these efforts, research past content they have engaged with. What brought them to you?
Now you have to decide the best way to broadcast the message, find out what the optimal channels are. Whichever customer touch points best fit your narrative, ensure your messaging is the same across them all. The last thing you want to do is bombard a client with emails. First, nurture your relationship to build trust, then figure out which channels they will be receptive to and shape your campaign.
After launching your ABM campaign you need to measure and optimize. Data needs to be analyzed so that you understand where the opportunities for improvement lie. Examine your KPI’s, track conversions, and make this process a priority. If your efforts are driving revenue, good, find out how you can optimize them and improve results even more.
You want your ABM efforts to be as optimized and intelligent as possible. Since ABM brings sales and marketing together, both have to consolidate their strategies into a campaign focused on one buyer. Gain insights from your measurements and make the changes you need to improve your campaigns.
ABM has combined the once separate roles of sales and marketing into a collaborative effort that drives more revenue and improves the overall customer experience. Customers who engage with highly-personalized content, do so because it builds demand by establishing trust. Trust that your company knows what their business needs and is willing to provide it in a way that fits their narrative.
When you take the time to make your content fit the customer you are building a relationship, gaining their loyalty. This helps your reputation, and by doing so you catch the attention of new business. If you’re targeting Fortune 500s to 1000s, for example, ABM can help you unlock the full potential of each target account and effectively double or triple your client base.
Keep in mind, there are some obstacles with ABM, and no marketing strategy is perfect. Even so, ABM is a great way to drive revenue without producing waste, if done correctly. Scrutinize your processes, take the time to personalize your marketing, and reach new businesses with ABM and it will always be a part of your marketing mix.