ABM - The Missing Link Between Sales And Marketing
Account-based marketing (ABM) is a profile-based approach which requires sales and marketing teams to work together on a joint list of target accounts. The approach focuses energy and resources to provide synergy and better alignment and turns prospects into customers. In turn, customers benefit from attention to detail, a personalised approach and tailored messaging.
ABM focuses on the accounts that are most likely to drive revenue or have other strategic significance. These are the accounts that will drive real change for your business, whether that’s increasing revenue, challenging a competitor, or increasing recognition. Target accounts can be selected based on a variety of parameters, some popular ways to target include by:
• Revenue size
• Specific technology
• Previous sales performance (higher likelihood to close)
• Named account lists from sales teams
According to Alterra Group, 97% of marketers achieved a higher ROI by incorporating ABM than with any other marketing initiative. ABM isn’t just a marketing catchphrase, it’s an approach that astute marketers are incorporating into their strategy to drive revenues as they learn how it allows you to easily target and engage accounts and measure returns.
ABM gives you improved customer acquisition. As an approach it isn’t new, but it is effective. It focuses on nurturing key customers and prospects. It eliminates the potential for poor leads and shines a greater spotlight on the process of customer acquisition.
ABM isn’t a new way to target customers or nurture accounts, but it has evolved into a scalable, achievable strategy that organisations of all sizes can implement. Think of it as holistic life-cycle marketing for key accounts. Modern ABM solutions give companies the ability to provide a superior account-based experience to leads and contacts by automatically delivering relevant messages across a variety of channels.
Nowadays buyers demand increased engagement and personalized content. Great customer experience (CX) can quickly set you apart from your competitors. The ABM we practice today is entirely different than the manual processes of days past and in order for it to be most successful you need the right tools as well as an understanding of how to implement an ABM strategy that provides superior, personalized experiences for your buyers and, therefore, reap the benefits for your business.
How Does ABM Work?
Traditional demand generation models work on generating awareness with a large audience. The broadcast marketing approach contacts thousands of recipients with the hope of engaging with the few who show interest. Rather than these broad ‘spray and pray’ marketing campaigns, ABM targets specific companies in a bid to engage with key decision makers and then build on and nurture that relationship to open up future sales opportunities.
With ABM, you start by identifying qualified leads, and then work on engaging and expanding them, and driving advocacy. ABM requires marketing to work in tandem with sales to identify target accounts (which also removes any uncertainty when it comes to revenue attribution).
Concentrating energy and resources into one set of target accounts provides synergy, ensures better alignment, and reaps dividends. It helps departments work more closely together, encouraging teamwork and better internal relationships.
The attention to detail, personalised approach and tailored messaging of this approach provides many benefits to customers. Using ABM, you can produce expertly delivered, bespoke lead generation campaigns, saving them time and resources.
Why is ABM Valuable for Business?
Investing in a comprehensive ABM approach inspires interactions and generates leads through focused marketing activities. The right ABM solution should be combined with accurate UK end user IT contact data for ultimate results.
B2B organisations looking for a high return are shifting toward account-centricity. Companies are focusing on high-value accounts, account penetration, market penetration, and attracting new logos. ABM naturally aligns to most organisation’s strategic goals by enabling marketers to partner with sales to focus combined energies on a targeted approach to finding, engaging, and closing target accounts. ABM can sit alongside traditional broadcast marketing or can be practiced in exclusivity.
ABM encourages action, creates demand, generates leads and enables sales and marketing teams to deliver results. By implementing an ABM strategy you’ll target the accounts that have real significance for your business.
3 Reasons to Adopt Account-based Marketing:
1. Target and Manage the Right Accounts
Targeted, personalised marketing: ABM gives marketers the opportunity to create more personalized messaging. Say farewell to blanket messaging and focus on your target audience.
2. Engage Accounts Across Channels:
Engage accounts with personalized content using a multi-touch approach. Each element of your target buyer’s experience should be consistent and complementary. Choose technology that supports cross-channel marketing
3. Measure the impact:
Efficient use of marketing resource: ABM structures marketing efforts on key accounts to drive the most ROI. This narrow focus optimises the use of your most valuable resources: time and money.
Targeted Sales Success
The sales success ABM brings will revitalise sales and marketing teams and lead generation capability. ABM works best with targeted, multi-touch marketing, enabling you to deliver personalised marketing which resonates with your target accounts, improving lead generation.
ABM allows you to identify the specific needs of target accounts and send relevant, personalised communications to meet these needs. In our experience, this approach can produce excellent results, particularly when targeting high-value customers.
What’s more, ABM doesn’t cost the earth. Traditionally, personalised, and targeted marketing could be costly, but marketing automation enables the deployment of an ABM strategy for lower investment and on a larger scale.
The Benefits of ABM for Lead Generation:
Improved customer acquisition process
Personalised targeting and nurturing
Data-driven decision making
Faster sales process and shorter sales cycle
Clearer path to better ROI
Synchronicity with sales and marketing functions
Improved trust and better customer relationships
Greater opportunity to show you are the expert
Focusing on the right target resulting in the right leads
In conclusion, ABM isn’t new, but its approach does help to structure your marketing energies and resources on your key accounts to drive the most revenue. By integrating sales and marketing efforts, you focus your marketers to work directly with sales to target and develop content for key accounts. When sales and marketing teams are aligned and focused on the same target account, they put more resources into engaging with the buyer and less on activities that do not move the buyer along the sales funnel.
Mass marketing messages to prospects and customers do have their place, but it is commonly accepted that the more personalised and targeted our campaign are, the better they perform. Stop the ‘spray and pray’ approach and adopt an ABM strategy that delivers on tactical objectives and improves ROI.