Categories
Marketing

Account Based Marketing Guide: Where Do I Start?

Account Based Marketing: A Step-by-Step Guide for Beginners

Account Based Marketing Guide for Beginners

In 2021, it is expected that Account Based Marketing (ABM) will be eagerly adopted by companies. This Account Based Marketing Guide will help you understanding this tactic better.

According to the 2020 State of ABM Report, companies reported that 79% of their sales opportunities are due to their implementation of Account Based Marketing.

The same study shows businesses who are in their early stages of Account Based Marketing display at least 18% of their company’s overall revenue. It’s no wonder that 67% of brands are gravitating towards ABM.

With this in mind, Account Based Marketing is becoming more than just a passing trend. It is a solid tactic that will increase the performance of your marketing team and overall business.

Understanding the Definition of Account Based Marketing

Account Based Marketing is an approach that identifies high-value target accounts which will be transformed into customers.

This requires a strong alignment between both Marketing & Sales as the strategy demands their expertise to work in sync. Besides locating relevant accounts, you will also need to penetrate them before closing deal

What makes ABM a favorable tactic is its personalized 1:1 approach. To implement this strategy, companies must establish partnerships that are not generic.

ABM strongly emphasizes on the effectiveness of creating engaging, active dialogue to win the hearts of potential clients. After all, marketing isn’t a one-way street.

Why is Account Based Marketing Important

  1. Establishes meaningful and long-lasting relationships with potential clients by using personalized forms of communication.
  2. Delivers higher ROI compared to traditional marketing strategies.
  3. Structures your marketing resources efficiently onto certain accounts that are predicted to garner high profitability.
  4. Encourages constant collaboration and teamwork between sales and marketing departments.
  5. Allows companies to track down the effectiveness of the marketing campaigns and evaluate them accordingly.

Step-by-Step Guide to Account Based Marketing

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 clients.

Keep in mind that what we’re surveying for is 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.

Step 2: Pinpoint stakeholders 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. 

Therefore, 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.

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. Similarly, 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.

P.S. Don’t forget to document everything in your CRM!

Implement Your Account Based Marketing Strategy With Us

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, ABM has been delivering the highest ROI of all this far.

digitus specializes in Account Based Marketing and its implementation in various organizational settings.

We’re here to set a solid foundation for nurturing and retaining clients, as well as guide you through each step for a successful marketing campaign.

Contact us now to book a consultation.

Categories
Marketing

Account-Based Marketing: What Is It All About

Account-Based Marketing (ABM) is a B2B Marketing strategy that focuses on accounts that will most likely be your ideal customers.

It all starts with figuring out who your target accounts are instead of individual high-value prospects that you’re interested in.

ABM allows you to create a personalised approach for these target accounts.

By creating marketing campaigns according to the buyer’s journey, you can maximise your relevance and attract potential leads.

How Is It Different?

When you are creating a marketing campaign, the message you are sending out to a CFO of a large corporate organisation wouldn’t be the same as what an IT guy from a medium-sized company would receive.

Account Based Marketing is a nurturing strategy that creates an almost 1:1 approach to the key accounts.

The accounts you get are based on persona, stakeholders, industry etc. in a targeted and personalised approach.

Fundamentally, a buyer will go through the different stages of Awareness, Consideration and Conversion in a marketing funnel.

It is important that marketers are executing campaigns for prospects that are trickling down the funnel to finally become a lead.

For ABM, you start off in the reverse way. Instead of capturing a large base in the Awareness stage, you evaluate the customer profiles that you highly focus on.

Through this ABM strategy, all communications and content that are shared is tailored according to the customer profile.

Benefits of Account-based Marketing

How does Account-based Marketing impact my business?

ABM is not a shortcut method to convert prospects into leads in the quickest way. We allocate resources to for create content, Therefore, we need a coherent collaboration between Marketing and Sales teams.

It is crucial for both teams to have an aligned view of these target accounts and its progress.

As much as we would like to send the key persona accounts all your best content, it’s better you don’t.

It is best not to bombard them with marketing information and disrupt the consistent personal experience you’re trying to build.

This is where Account-based reporting dashboards come in really handy. These dashboards are specific to the target accounts to track the engagement, milestones, progress and KPIs across the stakeholders.

Another main aspect is ROI. Through Account-based reporting dashboards, it is easier to evaluate if the time and effort put into a particular account is worth the return on investment (ABM offers higher ROI than other marketing strategies!). Following that, we can make a decision depending on future resource allocation for nurturing and converting the accounts. ABM is a B2B marketing strategy that involves a weighty amount of time and effort in creating an interest for the cherry-picked high-value accounts.

By forging a trusting relationship with these prospects, we can retain them in our customer lead base.

Where do I start?

Start your Account-Based Marketing strategy today! Our team of digital experts at digitus are ready to provide you with the best guidance. Contact us today!