24 Aug What is Account-Based Marketing?
Have you ever stopped to analyse your current customers? Which are the most profitable? If you could keep just half of them, which would you choose? All these questions are focused on achieving a single goal: your customer can’t and shouldn’t be just anyone. And that’s what account-based marketing, also known as ABM, is about: focusing on the accounts (companies) that you want to work with.
This all makes more sense than ever in the realms of B2B services, where the crowd disappears and personalisation and technical knowledge take the limelight. Added to this is an environment where more than one person is involved in decision-making and where the sales cycles are long. That means you’re going to need more than just an Inbound Strategy. You’re going to have to use ABM, that is, strategy and technology that’ll help you create highly personalised campaigns with messages that are ultra-relevant to each account.
Phases of an Account-Based Marketing Strategy
Here’s how to apply an ABM strategy in six phases:
1. Marketing and Sales should agree on which accounts represent the highest value and profitability. Choose the accounts that you want to sell to.
2. Draw up a map for each account and define who the key people are (decision-makers and influencers).
3. Identify the key channels (website, mobile or email, depending on each role or industry).
4. Define the content and message personalisation for each of the key people. The aim is to strike up relationships with the accounts defined in point 1 to try to create sales opportunities.
5. The first phase will involve a strategy for making contact where you can use tools like Sales Navigator on LinkedIn. This more manual phase can then be followed by automated tasks.
6. Ensure that campaign implementation is organised and coordinated.
7. Measure, learn and optimise.
Benefits of Account-Based Marketing
1. Focus your efforts. Using ABM means that, from the very start, you define the specific accounts that you want to interact with to generate sales opportunities. You don’t try to cover the entire market, which wastes effort and money. As a result, you improve productivity.
2. You create quality relationships with your future customers. You’re going to have to learn about the interests of everyone involved in the buying process and offer them value in each of your interactions. Value means offering them solutions that they perceive as ideal. Personalisation is the key. It’s about looking after these relationships with people who may become your future customers.
3. You’ll get a better ROI because you’re creating highly personalised campaigns. Sales and marketing work together from the very start to design and implement the strategy.
If you think that applying an Account-Based Marketing strategy could help you get the ideal clients that you have in mind or if you have any questions, contact us and we’ll help you find the answers.