Account Based Marketing
What is ABM?
ABM is a business marketing strategy that concentrates resources on target accounts that need your product or service. They use personalized campaigns designed to engage with each account based on the specific attributes and needs of this account.
ABM designs its marketing campaigns to make the best use of every highly engaged customer. Creating campaigns that encourage both upselling and cross-selling are one of the keys to getting the most out of your largest accounts.
Companies can achieve a better online penetration with account-based marketing.
B2B companies that sell to large accounts have more difficult selling cycles, so account-based marketing can be a great option for your company.
Personalized Marketing Approach
When it comes to building a direct mailing list, some marketers are going the extra mile by targeting specific customers with tailored messages.
Sales and Marketing Alignment
Account-based marketing encourages the marketing teams and sale organizations to work together. This means identifying target accounts, crafting customized campaigns for them, and working together to align and move individual companies through the sales pipeline both before and after the lead conversion.
Shorter Sales Cycles
Major decisions sometimes involve more than one stakeholder. The best sales process starts at the bottom of an organization, moving quickly to the top decision maker. This process saves time as it is less time-consuming for everyone.
Account-based marketing is a relatively new type of marketing that uses the data from your customer’s previous interactions with you to dox which social media platform to focus on, what content will resonate best and when emails will get opened.
Fewer Wasted Resources
The previous strategy of trying to sell more by saturating the account activity with a variety were costing businesses money. With fewer resources working on these accounts, more sales closed in other areas.
Account-Based Marketing Examples
Account-based marketing begins with meaningfully segmenting your audience through the use of different channels. Companies will then be able to target customers specific ads or promotions at the most effective times and places for them according to their data.
You can build account-based marketing (ABM) programs to target specific customers using a range of factors, such as demographics, industry types and products. Here are some ways that marketers have found success with ABM:
One way that sales teams have always been successful is by hosting in-person events. An ABM approach can include invitations arranged specifically for key prospects from target accounts, specific dinners with VIP attendees, personalized gifts and schwag which are sent to target accounts after the event has occurred, and personal follow-up from reps to targets afterwards.
Events are a way to schedule meetings between two entities. Online events for businesses can allow the business to create the event themselves, which is then tailored to be relevant and timely for their needs.
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Direct mail has become an effective tool to reach potential customers and qualify them for sales activity.
Even with the popularity of email marketing, direct mail is still a valuable marketing channel for ABM. Whereas a volume-based approach might use templates and automation, account based marketing involves crafting tailored messages for each company and individual.
Paid social media ads can help you reach out to target accounts on the web. Social platforms such as LinkedIn and Facebook allow you to view clusters of users and use technology like IP targeting or retargeting so that your campaigns are focused on a larger group rather than casting a wide net.
The website personalization process doesn’t end with driving traffic through personalized SEM and inbound marketing campaigns. Once visitors reach the website, your account-specific technology can be used to create a tailored experience for target prospects vs the generic site.
Many marketers struggle to find ways to implement account-based marketing. There are different methods that can be used.
With account-based marketing, you can engage consumers through a closed loop of interactions instead of one big push in order to drive sales and revenue for your brand.
Below are step-by-step instructions for setting up account-based marketing.
Step 1: Identify your target accounts
These are the accounts that have the most potential to contribute to your company’s revenue.
Step 2: Research those accounts
Get a clear understanding of what’s important to your audience and figure out where they are in their customer journey.
Step 3: Create effective marketing campaigns
Completing research before you approach an account will help ensure that your pitch resonates with the target audience.
Step 4:Create and run your customized marketing campaigns
The best way to launch a social media campaign is by using the “target account” feature.
Step 5: Measure any customized marketing campaigns
Review your campaign results to see if they are living up to your expectations.
Account-based Marketing & Personalization
E-commerce companies know that personalized advertising is increasingly important to getting customers to buy things from you.
Web personalization for ABM is done by tracking anonymous visits to your site and filing them into a list of identifiable visitors. Matching the visited companies with your target set, you can provide personalized content and experience.