Trends and the newest buzzwords are pretty common in digital marketing, and account-based marketing is one of the hottest topics in the B2B industry.
So what is ABM?
ABM is a marketing strategy that utilizes automation and data in targeting predefined and high-value accounts with highly personalized messaging. Instead of casting a wide net as with traditional marketing. ABM marketing campaigns work particularly well for selling a particular product to a specific audience and are one of the most popular B2B trends.
This post will walk you through why account-based marketing is essential for your business. It includes what advantages ABM can offer and how you can successfully implement these in your marketing strategy. Here are some essential benefits that it can provide:
1. Become a customer of your customer
Everything starts with your customer’s needs. It would be best if you listened to insights both internal and external. You might be already subscribing to the intent data of your customers or collecting insights from your own CRM.
A great approach is to be a customer of your customer. Doing so lets you identify pain points and opportunities for your customers. For instance, you might not know that your solution could help solve their problems.
Similarly, they’ll also be impressed that you went through the effort to know about their needs. Using the insights you’ve gained, you can also develop creative marketing programs, content, and messaging.
2. Increase efficiency in your marketing
ABM improves efficiency by focusing on key accounts, which drives ROI and revenue. If a particular account reaches a threshold wherein they’re no longer worth your investment, then all you do is stop marketing to them.
Remember that resources equate to time and money, and ABM benefits both.
3. Targeted Campaigns Results to Higher Engagement
In the marketing world, gaining a new customer will cost you five times more than retaining existing ones. To help decrease churn, you need to ensure that you’re not only acquiring high-value customers but also an excellent match for your business. It would be best if you also did whatever you could to keep these customers.
Now, investing in personalized content that ABM excels with increases brand trust and forms relationships that boost sales and long-term success for you and your customers.
95% of marketers say that personalization leads to better relationships and higher engagement. At the same time, personalized content explicitly made for ABM campaigns boosts customer retention. Talk about one of the most undeniable benefits of ABM.
4. Smart measures help leading brands excel
Having highly strategic and long-term metrics is critical for sustained business impact. Your goal is to allocate time, money, and resources for relationship programs that build trust. This is true, especially if you have a long sales cycle or a product or service essential to business operations.
As you know, one of the critical parts of every campaign is conversion measurement. By analyzing the performance of different marketing channels, you’ll gain valuable insight into how effective your strategy is.
It also lets you monitor results and determine the revenue and ROI they account for, allows you to make necessary adjustments, redistribute resources, and manage your budget.
Having accurate conversion management allows you to deliver data with supreme accuracy. At the same time, it allows you to finetune your sales and your marketing strategy.
5. Personalisation of marketing at scale
What makes account-based marketing so efficient and successful for businesses? ABM campaigns can be highly personalized. According to a report, those that use this strategy experience up to 93% engagement and 59% increases in sales.
Knowing your customers lets you precisely personalize your campaign, needs, and business requirements.
According to Integrate UK, productivity is increased dramatically when marketing and sales are aligned. Doing so allows you to get your customers better and enhance their working strategy in real-time. At the same time, you can also make necessary adjustments to meet them wherever they are in their journey.
6. ABM Campaigns Has Well-Optimized Funnel
If you want to give enough opportunities for your sales team to seal deals, you and your marketing team’s focus is to feed the funnel with as many leads as you can. The number of prospects that will reach the final stages is expected to be less than those who initially entered it.
But keep in mind that both teams need to work together. You want to ensure that every stage of the customer journey is optimized. By doing so, you’re providing them with a personalized experience that will convert prospects into clients.
Meaning both your marketing and sales must work to ensure that every prospect entering the funnel is highly qualified. In each funnel stage, you should accurately address the customer’s needs regardless of their funnel stage.
Over to You
So there you have it. Account-based marketing is an excellent marketing strategy that will deliver you an impressive ROI and develop a network with highly profitable clients. It’s a perfect way to make clients happy and future-proof your business.
However, no strategy is a guaranteed success. However, by doing extensive research and focusing on high-end accounts which benefit you in the long run, you’ll have a smooth ride throughout the funnel and create successful long-term relationships.
You can think big by starting small and moving fast if you’re also just starting out. You can then tap on that momentum and success to expand and never lose sight of personalization.