A 3 minute read
With a growing number of businesses joining the market, it’s getting more complicated for companies to stand out and appeal to their potential audiences. Capturing customers’ attention and retaining clients today looks different than they did several years ago. New strategies and channels evolve, letting marketers interact with customers on a new level. That’s why brands looking forward to achieving the highest ROI should focus their attention on high-value accounts, considering marketing penetration. By implementing strategies that combine marketing and sales expertise, marketing teams can reach their goals of closing deals with high-value accounts. Many companies seeking high-value customers consider an ABM strategy as the best approach to achieve their goals.
Account-based marketing (ABM) is a B2B marketing approach based on the cooperation of marketing and sales teams by measuring target best-fit accounts and turning them into customers.
Previously, B2B marketers targeted leads more generally. It let them find as many potential customers as possible. However, it didn’t result in the best ROI due to the high levels of personalization it required. New and improved technologies of the modern age let businesses easily scale ABM to multiple organizations, thus enabling marketing teams to drive higher value outcomes.
By implementing an ABM strategy, marketers can solve many common issues that a broad marketing approach cannot handle.
- ABM delivers the highest ROI of any B2B marketing strategy.
- Since account-based marketing is geared especially to target audiences, buyers are more likely to interact.
- ABM lets you easily analyze your campaigns’ effectiveness by measuring a smaller number of emails, ads, and events.
- It lets businesses get their marketing and sales teams synchronized.
Three major components make up every successful ABM campaign. These are:
- Targeting and measuring accounts worth your time and which can potentially result in high ROI. It lets businesses centralize account targeting instead of synching lists across multiple apps.
- Engaging customers across multiple channels using personalized campaigns set up using a single platform rather than managing them individually. It suggests that your team uses an account-based marketing solution, enabling you to knit each channel together and deliver comprehensive cross-channel campaigns to your customers.
- Measuring and optimizing programs to understand the success of your campaigns and improve them over time.
The ROI of successful ABM campaigns depends on coming across qualified potential leads and making them move along the sales funnel at their own pace.
How to Implement an ABM Program
To get started with an ABM program, your marketing and sales teams should come together to make a list of high-value accounts for targeting and craft personalized campaigns that should be delivered through the right channels to achieve the best results.
Setting up an ABM program involves taking such steps as:
- Identifying and prioritizing high-value accounts using the revenue potential and such strategic factors as a market influence, the likelihood of making a repeat purchase, higher revenue potential, etc.
- Mapping account to understand the structure of your potential customers, who influences their decision-making, and how the decisions are made.
- Defining content and personalized massaging to target your potential customer’s pain points.
- Choosing the optimal channels for your company to communicate with the target audience.
- Coordinating your campaigns across all channels and aligning the marketing and sales teams’ efforts to ensure the ABM campaigns are executed at a much higher scale.
- Measuring and improving the results of your ABM campaigns to get a more accurate picture of your performance.
ABM lets companies achieve the highest ROI as they face the need to acquire, retain, and grow high-value accounts. If your company needs help with the setup and management of an ABM campaign, the Atypical Design team is ready to come for help.