Account-based marketing (ABM) is now a priority for B2B marketers aiming for precision and hyper-relevance. To ensure you’re maximizing this return on content investment, here’s a look at some of the key metrics that can help you measure whether your webinars are doing what they’re supposed to be doing: generating leads.
If you want to take the next step in a marketing sense and align your activity closer to your business, then ABM is a no-brainer. This guide will walk you through every part of creating a successful ABM strategy, starting with its fundamentals and ending with the actionable campaigns you’ll want to roll out.
What Is Account-Based Marketing (ABM)?
Account-based marketing is a B2B approach in which you target high-value accounts (specific companies, not the masses). Whereas traditional marketing tactics create hundreds or thousands of contacts with little to no refinement, ABM focuses on the ones most important to your business.
Think of it as a marketing tactic that makes each account feel like it’s in the VIP room. Personalized content, personalized messaging, and campaigns designed to speak to their specific concerns, ABM makes it possible to engage in a way that’s more sensitive to where they are in their buying process.
ABM in Practice
… Now instead of sending out a one-size-fits-all email campaign, your sales team has developed a tailored offering for just one major new prospect – a package of solutions carefully linked to the problems that organization is suffering from. It’s this strategic, personalized approach that makes ABM so successful.
Why ABM is Everything to Business
Still not convinced that Account-Based Marketing is worth it? Here are three reasons why ABM differentiates itself from marketing methodologies:
Sales and Marketing Alignment
Of course, you don’t necessarily have to implement it on a massive scale for you to realize its potential value, as ABM inherently aligns marketing and sales teams. Both teams work together in developing the target accounts, campaigns, and insights. This alignment gets rid of silos, keeps messaging consistent, and creates more synergy among your team.
Higher ROI
One of the most appealing benefits of ABM is its economy. With your efforts concentrated on high-value opportunities, you can avoid wasted energy and maximize your chances for success. 87% of B2B marketers believe that ABM offers a higher return on investment than other marketing initiatives, according to ITSMA research.
Superior Personalization
Forget generic advertising. ABM enables you to put messaging directly in front of targeted accounts. When they receive messages that are tailored specifically for their goals and challenges, prospects will be far more receptive to engage with and trust your brand.
Quick Stat:
Companies that employ ABM achieve higher rates on their deals and better feedback from their customers than those who don’t use ABM.
Building a Successful ABM Strategy
So you know what ABM is and why it’s important. What now? Build a game plan. Here are six steps to have ABM down pat and let your business be a cut above the rest.
Step 1. Identify High-Value Accounts
Start with the right targets. Identify your high-value accounts by analyzing the fit to your ideal customer profile (ICP). Some criteria to consider are industry sector, annual revenue, company size, and location.
Pro Tip:
Use your CRM and external tools like LinkedIn or Zoom Info to identify the businesses that best represent your ICP.
Step 2. Align Your Teams
ABM thrives on teamwork. Let there be communication between your marketing and sales teams through shared goals and KPIs for your success! That might be the number of target accounts that engaged, pipeline contributed or that closed.
Step 3. Create Personalized Campaigns
Every account has its requirements, problems, and goals. Understand reasonably, then fine-tune your messaging with hyper-targeted content and ads.
Example Campaign Elements:
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An email body that speaks to the problem/challenges the target account is facing.
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Case studies demonstrating your success working with similar businesses in their niche.
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Sharing on social media, you’ll get social media posts that are customized for your audience segment.
Step 4. Leverage Technology
Things like CRM systems, email automation tools, and analytics software can assist in tracking and measuring the success of your ABM actions. Leverage these technologies to gain insight into engagement and adjust your strategy as you go.
Step 5. Measure Campaign Success
Establish milestones and KPIs to measure the effectiveness of the ABM plans. Think measurable language such as lead engagement, opportunities generated, revenue influenced, and deal close rates. Always monitor these metrics and see where they can be improved.
Step 6. Scale and Refine Efforts
Once you have a formula that works, scale your ABM efforts. Expand the number of accounts you are targeting while implementing more sophisticated personalization techniques and data-driven insights.
ABM Challenges that Every Business Faces (and Cutting Through Them)
Mistakes or making it too hard.
While ABM is a powerful approach, it’s not without its challenges. Here’s how to address some common pitfalls:
Challenge: Struggle to pinpoint target accounts.
Solution: Leverage third-party solutions such as predictive analytics to improve your account selection process.
Issue: Lack of Budget for Specific Campaigns.
Solution: Pace yourself by concentrating on fewer accounts first, and then build from there after you find some success.
Challenge: Teams are not on the same page.
Solution: Put alignment meetings in place to keep sales and marketing in sync.
Why ABM is the New Face of B2B Marketing
ABM is not just a fancy buzzword; it’s a fundamental shift in how businesses market to their most important prospects. Through team alignment, technology, and more personalized approaches, you can harness ABM to generate outstanding value and improve your marketing results.
If you’re ready to change your way of marketing, go ahead and try out ABM. Always remember, ABM success isn’t immediate, but every step you take is one step closer to long-term growth and profit.
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