Account-based marketing offers organizations everywhere an exciting opportunity to target and win the business of high-value dream clients. This relatively new marketing channel has seen businesses start to achieve revolutionary results, tipping traditional marketing approaches on their head by offering highly personalized, tailored communications to a small set of important key accounts. Discover what ABM means for your business, and take away five top tips to ensure you start out with an outstanding account-based marketing strategy.
Why is account-based marketing important to your business?
If you’ve not discovered account-based marketing, or have yet to properly integrate an effective strategy, you may be asking why this approach is so important, and what it could mean for your business success.
ABM continues to yield positive results for many; by offering such prospect-driven campaigns, your marketing becomes individual, authoritative and genuinely intriguing to the key decision makers. For businesses already using ABM, 80% of those asked said that ABM outperforms all other channels, and on average results in a revenue increase of 200%.
As 73% of B2B buyers expect personalized approaches across multiple touchpoints, it’s clear how impactful an ABM approach can be, meeting buyer needs with an impressive and high-end approach. Those conducting ABM see win rates increase by almost 40%; there’s little doubt this is a strategy your business needs to master in order to move with the times and achieve the most outstanding results.
Master your ABM strategy
Whilst ABM has been proven to bring exceptional success, building an effective strategy can initially be a challenge for many teams. Combining lots of different channels to conduct detailed campaigns takes time and commitment, but the hard work always pays off. Discover the five best practices below to help your team along the road to ABM success.
Align your sales and marketing teams – Whilst an ABM approach is effective, the best results are achieved when account-based marketing seamlessly moves into account-based sales. Key accounts gain a continually high-end, fully customized end to end experience, and your teams gain insight into wider departmental processes, and how they can be combined to reach higher levels of success.
There’s little point in working so hard to create a fully bespoke ABM approach, only for your sales team to halt progress by providing a standard buyer experience. Combine your ABM and ABS teams, taking expertise from each department to curate a fully aligned strategy that provides a consistently detailed journey for every key account. This team alignment doesn’t just improve your ABM strategy and
Plan detailed account management – Unlike traditional marketing, ABM requires consistent attention. Though your team may be familiar with conducting individual campaigns, gathering metrics for analysis then evolving the next, ABM requires a more active and detailed managerial hand. As each key account is highly valuable to your business, your team needs to intricately understand every ABM prospect and create individual brand journeys for each. Planning how key accounts will discover your brand, learning about the value of your product and moving closer to conversion, are the stepping stones that build an effective strategy.
These individual journeys need continued management, ensuring every step has been appropriately executed whilst measuring key account engagement and interest. Plan in detail how each member of your ABM team will manage their key accounts, what service they will offer and how they’ll combine personal communications with structured, customized campaigns to nurture ABM prospects closer to sales conversion. Your ABM strategy is not likely to provide exceptional results if your team simply cue continual campaigns; they need to see ABM as hands-on account management as opposed to distant account marketing.
Measure and optimize your ABM approach – Though ABM differs from traditional marketing in many ways, it’s still critically important that your team measure campaigns for a detailed analysis to optimize future plans. This can’t be done in quite the same way as other traditional marketing channels, so your team will need to put some additional thought into how they will measure ABM approaches. As ABM strategies market to smaller data sets than channels such as email or content, the results you gain will be smaller scale and more at risk from anomalies. Whilst it’s key to properly measure and optimize ABM, it’s also vital to understand that the results gained offer insight as opposed to definitive information. Use the data to guide future plans, instead of setting them in stone.
Start ABM measurement by grouping like accounts with similar pipeline plans together, gather metrics at each stage of their engagement and cross-reference your findings. This better informs your team how a specific industry or size of key account, respond to individual channels such as social media or email. This, in turn, helps guide your team towards more effective campaigns for future key accounts falling into similar categories.
Outline specific account use cases – Whilst your ABM approach will undoubtedly conduct detailed research into each account, there’s no point in just gathering any information available and constructing campaigns around material not fully relevant to the specific decision maker. If you’re targeting the CMO of a company, there’s little point talking about their product development plans – this doesn’t link to their daily processes or direct business interests.
When conducting research into key accounts, take time to outline how they will use your product or service, and the results your business offering can bring to their specific department or team. You’ll see increased success in personalizing communications that market your product’s individual use case to decision makers, by explaining how they personally can gain from it, and how it will directly affect them. Customizing campaigns for ABM doesn’t just mean adding names, business name and industry news to email copy, it goes far deeper, practicalizing your product so key accounts instantly see the value it offers their business.
Utilize advanced software solutions – To offer the most progressive ABM approach, and the most effective strategy, you need to embrace advanced tools that offer detailed and exceptionally high-end personalization and campaign execution. Your ABM prospects will be able to identify the care and time your team have put into campaigns, and will appreciate your going the extra mile to offer the best service with the most impressive tools.
For an exceptional account-based marketing strategy discover Webeo. A ground-breaking, innovative software, dynamically changing your website content to instantly meet the needs of visiting businesses. With Webeo, you can welcome key accounts onto your website by name, display customized imagery and layout whilst communicating messaging specifically constructed for each valuable ABM prospect. 94% of buyer journeys started online- you can’t afford for your ABM strategy to be let down by a bland, static website journey. Offer thousands of completely bespoke website experiences, all through one simple software.