Account-Based Marketing Guide for B2B Success | Deck7
What is Account Based Marketing?
Account based marketing or ABM is a strategic and targeted marketing strategy, where key business accounts are marketed to directly. It’s a focused approach to B2B marketing where marketing and sales teams come together to target the best-fit or high-quality accounts and turn them into customers. Top B2B leaders say it’s no longer an option for marketers and sales to work separately. According to Alters Group, marketers achieved a higher ROI of 97% by incorporating ABM initiatives into their marketing initiatives.
Not just a buzzword but a game-changer for top marketers since the mid-2000s, ABM has become a staple in today’s marketing endeavors to drive demand and increase ROI. According to Roll works, “B2B organizations such as Bottom line Technologies, People.ai and One Neck IT Solutions are relying on a blend of traditional demand generation tactics with ABM strategies to cater to their audiences and appease senior leadership.”
Top Lead Generation Companies In The World
Who Uses Account Based Marketing?
Companies that are seeking to acquire specific and high-value customers have found an ABM strategy to be the most effective instead of taking a broader approach to their sales and marketing initiatives.
Account based marketing is a strategy and not a technology. There are typically four goals for adopting an account based marketing approach:
· Improvement in sales collaboration
· Cross-sell/up-sell the existing buyer accounts
· Acquire new logos
· To break into a new market/vertical
Benefits of Account Based Marketing
High return on investment – Effective ABM deployment can achieve higher business ROI. The 2014 ITSMA Account Based Marketing Survey stated that “ABM delivers the highest return on investment of any B2B marketing strategy or tactic.”
Reduced resource waste – The focused nature of ABM strategy allows marketers to focus their resources efficiently and only run those marketing programs that are highly optimized for the target accounts.
Personalized and optimized – The ABM tactic calls for personalizing your communication and messaging to specific accounts so your campaigns resonate with these target audiences. Customers are much likely to engage with content that is addressed directly to them and is relevant to their business and stage in the buyer journey.
Clear on tracking goals and measurement – It is easier to draw a clearer conclusion based on the effectiveness of campaigns whether email, ads, web, or events, for a smaller set of target accounts instead of a vast set of metrics.
Sales and marketing alignment – Account based marketing is one of the most effective ways of aligning sales and marketing. This is mainly because a marketer, when running an ABM program, operates with a mindset very close to sales – thinking in terms of accounts and how to best target them.
How to Create a Winning ABM Strategy for Your Business?
Choosing target accounts will vary for every company as each organization has unique business goals and a personalized strategy that’ll determine its criteria. Before you start putting together an ABM plan, there are three key foundations to look into:
Purpose of your ABM program
Accounts you are targeting
Prospects within those accounts that you’re targeting
ABM has picked up more steam in recent times as vendors, bloggers, and market research firms all fuel a resurgence in account based marketing’s popularity. In 2017, only 29% of marketers had found ABM to be effective, whereas by 2019 the success of ABM shot up to a whopping 97% compared to other marketing tactics…..Read More
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