Time for an ABM Tune-Up: 7 Q4 Tips for B2B Marketers
The last quarter of the year often sees increased spending when it comes to marketing. A solid business strategy is to take a closer look at how much money remains in the marketing budget and come up with a realistic plan to spend what is left. B2B marketing services can make good use of account-based marketing with what remains of their budget, but they must do so wisely.
These seven tips will help any business finetune their ABM strategy for a solid final push into the end of the year.
1. Pay Attention to the Best Customers
Finding new leads as part of B2B marketing services is essential for any marketing strategy, but this data can also be used to tune up an ABM initiative. More than 94.2 percent of respondents to a Terminus survey indicated that they were utilizing AMB to find more customers.
Take a closer look at who the best customers are and what makes them stand out from the crowd. Once marketers know what clients have in common, they might be able to see a path forward.
Examine important metrics that might clue marketers into other potential accounts they can add to their prospect list. Some of these indicators can include:
- Number of employees
- Role of the decision-maker
- Key aspects of the relationship
While these are not the only metrics to observe, they can be a great starting point to fine-tune your marketing endeavors.
2. Allow for Growth
While it might be tempting to seek out the same customers in every situation, expanding to new markets can be equally significant. Limiting your business to just one market will seriously cramp your potential return on investment with marketing. Instead, encourage marketers to try to find secondary markets where they can be equally successful.
3. Look for Spending Patterns
Do customers seem to spend more money during certain times of the year? For many companies, Q4 is a time to finish the annual budget. However, not all companies end their fiscal year in December. This can influence when they are ready to sign a new contract or make a purchase.
While marketers are looking for patterns among customers, they should also look for spending habits. Look closely to see if you can spot any patterns within a given industry.
4. Research the Competition
How does your business stack up compared to other leaders in the same industry? Spend time researching the competition and learning how they are growing or expanding. Look at how they split up their sales team and what markets they target. This may give businesses a competitive edge for seeing better ROI on their ABM initiatives.
5. Reassign Sales Territories
Historically, most businesses break up their sales territories based on the geographic location of both the client and the sales representative. Instead, consider shifting around sales territories to give certain accounts to sales reps who have more experience or a personal connection with the account.
6. Monitor Intent
Have marketers noticed a surge in people searching for the services and products that you offer? This demonstrates that your customers are currently researching their way through a problem. When this occurs, it is time to tune up your ABM and provide personalized solutions to those searching to solve their problem.
7. Update ABM Lists
Consider how many leads a given sales team can truly handle each month. If they can handle more than your ABM target list offers, it is time to reevaluate your list-building strategy to grow the number of accounts. Regularly updating the list can give your company a more extensive list with more solid leads.
Improve Q4 with These Tune-Ups
B2B marketing services and ABM are essential to the growth of the business. When your company is ready to dive into making some changes, contact Insights ABM today to see how professionals can help you grow!