What Challenges Can ABM Solve?
Account-based marketing or ABM is an extremely effective way of marketing B2B services and products. Unlike traditional marketing, ABM involves identifying top accounts and then targeting these clients with tailored advertising and relationship-building content.
By transitioning away from traditional outreach strategies in favor of ABM, B2B businesses can remedy several common marketing challenges, including:
A Lack of Alignment Between Sales and Marketing
When sales and marketing personnel do not effectively communicate, everyone suffers. Unfortunately, the efforts of these two groups of employees are segmented and compartmentalized when using traditional marketing tactics.
Account-based marketing eliminates this challenge by allowing these entities to work together. Sales and marketing personnel will communicate, exchange information, and supplement each other’s efforts in order to close deals.
Underwhelming Client Engagement
A lack of client engagement is another significant pain point for B2B organizations. Traditional marketing tactics do not produce optimal engagement because the content that is being delivered to prospects is generic and does not address their unique business challenges.
Conversely, ABM content is tailored for each client. Naturally, clients will be more interested in consuming materials that speak to the challenges and pain points that they are facing. In addition, they will recognize that your team took the time to create custom content just for them. This recognition can lead to feelings of loyalty towards your brand.
Data mismanagement remains a major pain point for B2B sales organizations. According to Forbes, only approximately 14% of businesses would rate their vendors’ understanding of their business as a “5 out of 5.” This statistic tells us that there is a clear disconnect between B2B organizations and the clients that they purportedly serve.
While this lack of understanding can be attributed to many different factors, part of the problem lies in the way that B2B entities market to prospective clients. When the goal is to “reach” as many businesses as possible, sales and marketing personnel simply do not have the time to conduct research on every client.
By transitioning to an ABM strategy, businesses can focus their marketing efforts on top-tier accounts. This approach will give sales and marketing staff time to truly get to know clients so that they can better serve them.
An Inability to Forge Lasting Relationships
Many B2B organizations struggle to forge lasting relationships with their clients. This struggle is a huge issue that can hinder a company’s ability to grow because acquiring new B2B accounts is far more costly than retaining current clients.
Account-based marketing campaigns allow sales and marketing personnel to interact directly with key stakeholders over weeks or months. During these exchanges, the parties will likely develop mutual trust and respect for one another. Ultimately, this will translate into longer-lasting and more resilient business relationships.
Tight Marketing Budgets
Traditional B2B marketing strategies can be effective if you have an abundance of resources at your disposal. However, as our market becomes increasingly competitive, businesses must find ways to improve profit margins and accomplish more with less.
Fortunately for B2B organizations, account-based marketing is a great way of hitting sales goals, even when working with a tight budget. Since ABM campaigns focus on high-value accounts that are likely to convert, B2B organizations can reduce waste while simultaneously maximizing the ROI on their marketing dollars.
Connect with the Premier Account-Based Marketing Agency in Dallas
If you are facing any of the challenges outlined above and want to overcome these hurdles with ABM, Insights ABM can help.
As a premier account-based marketing agency, Insights ABM’s team has the skills, knowledge, and expertise necessary to help you harness the power of ABM. Connect with our team today to schedule your free consultation.