Account-Based Marketing Isn’t Going Away…Here’s Why.
Sales and marketing strategies are paramount to any successful virtual business. But there are many different ways to approach marketing.
With the rise in digital tools, it can be difficult to stand out and attract the attention of the accounts that you desire. This is where account-based marketing (ABM) comes into play.
As any account-based marketing agency will attest, this approach is one of the most successful modern strategies for B2B companies. So what is it and how can you leverage it in your business? Read on to find out!
Why is ABM Better than a Traditional Marketing Strategy?
A traditional marketing strategy incorporates all the following:
- Clear communication of shared goals
- Sharing relevant customer information
- Ensuring team members are updated at all stages of the sale
A successful account-based marketing strategy shifts all the above to a more focused, microscopic level. Instead of seeking the attention of a wide, expansive audience, campaigns are designed to attract a set of large, important accounts.
Maximum Efficiency Means Maximum ROI
With the economy still wading in uncertain waters, maintaining an efficient budget is more important than ever before. Unfortunately, economic uncertainty has only grown more prevalent. This often results in smaller marketing budgets.
Obviously, this makes hitting targeted goals even more difficult. In terms of budgets, it means that every cent needs to be used efficiently in order to maximize ROI.
ABM is focused on maximizing efficiency. A cursory glance at the companies that have incorporated an ABM strategy will reveal a higher ROI when compared to other strategies. This is because ABM puts accountability at the forefront, ensuring that every dollar is accounted for on the quest to land key accounts.
ABM-based strategies ensure fiscal accountability by facilitating a dynamic environment throughout the life of the account. Each target account is analyzed in order to determine its overall sales potential, with a particular focus placed on high-value accounts. This helps the marketing and sales teams to research the right members of the buying committees so content can be directed accordingly.
In addition to appropriately directed content, a successful ABM strategy maximizes the efficiency of reporting structures. This fast-tracks the delivery of relevant data to shareholders, allowing dynamic decision-making so that your teams can quickly identify the components of the campaign that are working and the ones that need to be tweaked.
Build Better Relationships
The world is becoming increasingly virtual. Businesses are constantly bombarded with information and advertisements. This means that it’s easy for communications to get lost. It also makes targeted, personalized content more relevant than ever before.
It doesn’t take an account-based marketing agency to point out the fact that personalized content is the key to any successful ABM strategy.
Moving beyond the traditional “one email, one click” approach of traditional marketing strategies, ABM strategies rely on the long game. A successful ABM campaign can consist of weeks or months of building trust between buyers and sellers.
A successful ABM strategy creates personalized channels and content through every stage of delivery. After all, clients have different needs, so the types of content delivered to individuals will differ based on their position within the target company.
As the past year has loudly professed, nothing within the B2B realm is stagnant. From new platforms to evolved strategies to dynamic channels, this industry is ever-changing.
With this in mind, maintaining flexibility is more important than ever before. Fortunately, a properly implemented ABM strategy can help to ensure a dynamic workflow for your sales and marketing teams while also providing a better experience for your customers.