Account based Marketing (ABM) is voted as the best B2B marketing strategy that should be highly adopted. According to a study, 71% of companies reported that their ROI is definitely higher than with conventional marketing strategies. The focus of this strategy is to identify high-value target accounts, align both Marketing & Sales and create a personalized 1:1 approach.
Step 1: Identify your target accounts.
Let’s break it down in non-marketing lingo. The key driver of a successful ABM campaign is identifying and reaching the high-value accounts (not just individuals!). Instead of running broad campaigns across all your prospects, you are now only focusing on real qualified leads and creating a targeted campaign. Start off by going through your database in your CRM and single out these valuable target accounts (I’d be worried if you’re still using Excel sheets ?).
Step 2: Identify the stakeholders and influencers and their job functions.
We call it a target account and not target customers because we want to maximise our relevance and business value by involving all key stakeholders in the nurturing process. Each stakeholder plays a major role in the eventual decision making process of engaging with you. That means, we need to invest time and effort to learn more about your target accounts. All this information would help to create a personalised experience for each identified contact and tracking information. Be sure to tap into resources like LinkedIn Sales Navigator, Hubspot & Zoom Info for your research. Dig deeper & map it out!
Step 3: What’s in it for them? Learn about their pain points
It’s great that we’ve figured out who we want to target. But remember, why do they need you? Consider your unique selling point and the importance of why they should engage you. Again, you’ll need to spend time to understand their challenges and identify the gaps. It’s essential to leverage on all this information because you’ll be able to better position/upsell your business to serve their needs & be more resonating with them. ✅ You’re already forming a meaningful relationship.
Step 4: Get your A-team aligned
Now that we have all these data to get started, make sure your team has both Marketing and Sales people working together. This is a major key because we’re documenting, tracking and monitoring all interactions of the account using Account based reporting dashboards. The Sales rep can keep track of their KPIs whereas the Marketer can look into the engagement of each contact related to the account. PS don’t forget to document everything in your CRM!
To ensure we successfully execute an Account based Marketing campaign, we need to invest in planning and more planning. While mapping out the accounts may seem tedious and time-consuming, it sets a solid foundation for the nurturing and eventually becoming retained customers. ABM has been delivering the highest ROI of all this far.
? digitus is an expert in Account based Marketing and we’re here to guide you through each step for a successful marketing campaign, so get started with us!