Posted: 08 Jul 2022 Contributor: Ghia Marnewick
Account-based Marketing (ABM) Guide: How to Have High Quality Sales
Today we’re doing things differently. Instead of beating around the bush and then diving into the topic, we’re going to go straight ahead and answer the question: What is ABM marketing strategy?
Account-based marketing (ABM) is a business marketing strategy that focuses resources on a set of target accounts within the market. It uses personalized campaigns designed to engage with each account based on a marketing message. All of this is based on the specific characteristics and needs of the account.
ABM also takes a holistic view of marketing that goes beyond generating leads. It includes offering existing customer accounts support in addition to upselling and cross-selling. Having said this, it is easy to see why this is one of the keys to getting the most value out of your numerous customer accounts. This can be done by following the latest B2B marketing trends as well as by looking at your own customer data behavior reports.
Why Account-Based Marketing and Inbound Marketing Should Be Used Together
For B2B companies around the world, one of the biggest challenges is finding clients and closing deals successfully. ABM has proven to be the preferred marketing solution for B2B markets. As already mentioned, it is a marketing technique that involves creating tailor-made and targeted campaigns based on the individual needs and pain points of specific customers.
While it's certainly effective if you have a small list of clients you want to target, it prevents you from finding new clients, but inbound marketing seeks to address that.
Inbound marketing is a technique that focuses on attracting customers to products and services that seem intuitive and valuable in the future. This can include content marketing, social media marketing, branding, and SEO. The goal is to solve existing customer problems and encourage them to invest in new brands and products that they hadn't before.
So, how do you generate leads from ABM? It’s simple.
By combining ABM with inbound marketing, you can create highly effective marketing campaigns that can provide you with more potential customers and, of course, higher sales.
The Benefits of Account-Based Marketing
In the digital age, it is harder than ever to get the attention of your audience. This is where ABM steps in. By identifying the accounts, you want to continue to target, the sales team can tailor campaigns directly to them.
Account-based marketing turns the ordinary marketing and sales funnel you're used to upside down. Instead of leading clients through a funnel, account-based marketing gives businesses the ability to:
- View the accounts they want to target
- Deliver customized content
- Reach - and make an impression on - their customers
This means that the most obvious benefit of using ABM is a personalized experience that customers will appreciate, which in turn increases sales. Another benefit is that this solution is cost-effective and easy to manage. Let’s take a look at how marketers can scale an ABM campaign successfully with a few strategies.
7 Account-Based Marketing Strategies
It’s easy to become overwhelmed when it comes to determining which account-based marketing tactics will work best for your business. We’ve got a few simple strategies to help simplify matters.
1. Tailor content topics to your audience's needs
Whether you're creating blogs, webinars, or even eBooks, choosing content topics based on the needs of your target accounts is an effective way to get their attention.
Instead of general topics, try to answer the question "How can I help?". This will help you identify the customers matching your intent and improve your chances of winning new ones.
2. Segment your data
If your company creates original data to generate reports and other content, it could be a virtual gold mine for your ABM activities.
When creating a large report, think about how the data can be segmented and reused to fit the target account. This will not only work for your ABM activities, but it will also give you more value for money and provide a more accurate roadmap for your efforts.
3. Use video
There are many ways to increase your ABM efforts through video. Personalization is the key to account-based marketing tactics and what's more personal than sending an instant video message? It's a quick way to put a face to a name and build trust.
4. Encourage feedback
There are many opportunities to tailor customer feedback so that the content is relevant to your audience. Start by creating a few basic testimonials that address some of the most common uses for your product and can be shared with the public.
5. Share explanatory videos
For best results with video when using account-based marketing tactics, try creating a browsable video content library. Explanatory videos are a very good kind of content for ABM because they always answer customer questions.
6. Go above and beyond in real life as well
Sending gifts to prospective and existing customers can create a connection if done correctly. You need to do your homework and learn enough about the recipients to choose and present something that they will enjoy.
7. Use digital Ads
Digital ads allow you to convey your message to anyone who wants to see it. These ads are also measurable, allowing teams to track results and see what worked (and what didn't).
5 Account-Based Marketing Examples
The idea behind ABM is to offer truly customized and personalized marketing content. It's about adding value to your B2B database, and we've got a few account-based marketing examples to help you get started.
Snowflake initiated and carried on conversations with specific accounts using personalized content. They built a high-quality content library and used it to deliver a personalized content experience for individual target accounts. They then used the content to educate the audience based on their position in the account lifecycle stage. Snowflake has focused its campaigns on building credibility and trustworthiness rather than promoting conversion. Accounts that used this high-quality free content have been redirected for a better rate of return on investment.
The brand used bold messages on a billboard to initiate engagement with an advertising agency called Ogilvy and Mather. To do this, they posted a billboard near their Manhattan office with the message "Ogle this, Ogilvy ..." The message was followed by a custom URL containing funny GIFs and a custom message asking them to hire Intridea. This account-based experiential marketing campaign method worked for Intridea, and it may work for you too.
This company sells conference room planning tools and software. And their most successful ABM campaign to date has been as simple as displaying beautiful images. Of course, talking about software and tools was boring for most of the target audience. So, they decided to show pictures of beautiful offices from their established clients. And this idea that seems simple on the surface has helped them win many customers. Their website traffic increased by 50% simply by showcasing those gorgeous office spaces and leads increased by 20%.
They planned a roadshow in New York City where brands like Johnsons & Johnsons and Google would speak on their behalf. Meanwhile, their marketing team has turned to social media to connect with their goals. They continued with targeted ads and emails and then let the sales team take control. This collaborative approach between their marketing and sales team helped them close dozens of accounts in 2 hours. Plus, they surpassed their conversion goal by 22%.
The business used the ABM strategy to offer its customers a more personalized experience and drive traffic. It has integrated content segmentation and targeting into its web platform. Visitors were asked a few questions to determine their sector among the six target sectors. Based on your responses, DocuSign sent industry-specific messages, images, testimonials, and logos from colleagues. Their targeted and tailored content offerings for their customers increased their sales pipeline by 22%.
Isn’t it time you used ABM to boost your sales?
At the end of the day, addressing customer needs is the key to the success of any business. However, proving that you can do this is a completely different ball game and requires a solid marketing strategy to achieve. This is where ABM can make the world of difference, and when paired with inbound marketing can make all the difference.
Not sure where to start? Why not let one of our skilled team members help you out?