B2B Account-Based Marketing – Are You Missing Out?
52% of marketers are currently piloting an account-based marketing programme[i]
B2B account-based marketing (ABM) is a phrase and a strategy that’s been around for a while. However, with growing adoption rates of marketing technology and increasing data capture capabilities, account-based marketing is starting to grow in popularity. And, as more and more marketers report good results from this activity, an increasing number of us are sitting up and taking notice. So, when it comes to B2B account-based marketing, what do you need to know?
Let’s start with the benefits…
According to Marketingland.com, there’s no shortage of reasons why ABM is attractive to B2B organisations. Companies practicing ABM…
- Have better alignment with sales
- Often close bigger deals with target accounts
- Increase pipeline velocity
So, given the great reasons to use ABM, how do you go about implementing it at your agency?
Account-based marketing, the basics…
Unlike traditional lead generation which targets buyers which fit within the confines of your buyer personas, account-based marketing is about focusing your marketing on a select group of organisations. The starting point for anyone looking to utilise ABM, is drawing up a list of companies that you’d ideally like to convert to customers. By analysing the types of companies and buyers which you have converted before, you’ll be able to identify a ‘type’ of business that is likely to convert quickly. From here, you can identify high-value organisations which fit within these criteria.
Easier than you may think
Similar to creating marketing messages for prospects using persona documents as a guide, ABM is a case of analysing similar attributes amongst your dream account list and writing targeted messages that will engage them all. Once the messaging has been created, it will then be sent to multiple contacts within the same business in order to generate interest, engagement, and demand. As always, strategies are only as good as the ROI they generate, so be sure to measure every aspect of the activity and determine its true value.
Why ABM is the future…
To some, ABM may seem like just another requirement on top of their already growing list of marketing activities. However, this strategy has the potential to become a mainstay in future marketing. Granted, it does involve additional time and resources over and above the current lead generation activity, however the rewards are much greater (and so is the ROI). By targeting dream clients and ‘top 50’ organisations, average order values are likely to be larger than more traditional prospects, while marketing costs can be reduced. The outcome then – more revenue and profit for your business.
[i] (SiriusDecisions’ 2015 State of Account-Based Marketing (ABM) Study)