Over the past few years, there has been a shift away from the traditional marketing techniques employed to generate leads and drive revenue. Instead of broad marketing practices, businesses are realizing the potential of a laser-focused approach.
Account-based marketing is a relatively new and alternative strategy that aligns sales and marketing resources on defined, meticulously selected accounts and delivers customized campaigns specific to the account targeted.
What is Account Based Marketing?
Targeting specific accounts with personalized programs is not a relatively new idea in the marketing space, but the development of new technologies has made executing account-based marketing (ABM) programs more practical than ever before.
Account-based marketing practices are gaining significant traction, as 92% of companies surveyed in a SiriusDecisions report recognize the value in ABM, calling it a “B2B marketing must-have.”
So what can ABM do for your company and sales team? In a nutshell, ABM concentrates the efforts of your team by identifying key accounts and creating and distributing personalized content for each one. In other words, each account is treated as a market of one.
Account-based marketing is significantly more sophisticated than traditional content marketing, utilizing buyer personas and behaviors to select the top clients your business should connect with.
Key Steps of Account Based Marketing
While ABM techniques and campaigns may look different from company to company, there are some similar steps all marketers take.
- Identify your target: Identify the high-value accounts most likely to buy based on data such as interests, budget, product usage, culture, relationships, and more.
- Research your accounts: Because ABM moves marketing teams away from a wide funnel of leads in favor of a narrow, highly-targeted funnel of qualified accounts, proper research is essential.
- Create your content: Create customized content that is genuinely valuable to your client that addresses significant challenges the account faces.
- Choose your channels: In tandem with your research, identify which and the best channels to communicate to your audience with. Determine which channels are most effective for specific industries.
- Run your campaign: For ABM to work efficiently both the sales and marketing teams’ efforts must align. Use technology to automate and scale the process to reduce time and resources.
- Measure your results: It’s important to consistently test, measure, and optimize your ABM efforts to improve your results over time.
Is ABM Right For Your Business?
As a result of its sophisticated and complex nature, account-based marketing is often best used for B2B campaigns. Marketers for these campaigns sell very specific products and services to very specific clients.
The advantages of this approach are clear. With effective use of ABM practices, it’s easier to create customized campaigns, align marketing with sales, and measure return on investment. By selling only certain products and services to targeted companies, there is also less competition.
Combining ABM practices with marketing automation tools is a popular solution many marketers are adopting to qualify the leads they generate and creates the infrastructure necessary to handle those leads. Marketing automation tools can provide powerful predictive analytics for ideal buyer profiles, near real-time data, targeted advertising, personalized content, and management and tracking tools.
Five Benefits of ABM
If you’re still on the fence regarding how account-based marketing can help generate higher qualified leads and drive revenue, ABM boasts clear and observable benefits.
- Clear ROI: According to a 2014 ITSMA survey, ABM delivers the highest ROI of any B2B marketing strategy.
- Personalized and Optimized Content: ABM campaigns are executed with the needs of the specific target account in mind. Your prospect will appreciate your efforts to cater to their unique needs and challenges.
- Reduced Resource Waste: Combining ABM practices with a marketing automation platform allows marketers to do more with less.
- It’s Easy to Track & Measure Success: With fewer accounts to analyze, it’s easier to measure campaign effectiveness.
- Sales Alignment is More Efficient: ABM marketers and salespeople working in tandem leads to powerful, predictive marketing and advertising for your campaigns.
How E-Lumigent Can Help
In order to reduce complexity and strain on your team’s time, it’s important to automate the ABM process as much as possible. With powerful, scalable automation capabilities for omnichannel delivery, E-Lumigent allows your team to market smarter and increase sales efficiency.
At its best, ABM pioneers a new level of collaboration between sales, marketing, delivery of content, and key decision makers. Rather than focusing on short-term goals, ABM prioritizes reputation and long-term growth by building relationships with executives inside target client organizations.