What Is Account-Based Marketing (ABM)?
Account-Based Marketing flips the traditional marketing funnel. It is a model that targets only the companies and contacts that are highly likely to buy your products and services. ABM is highly targeted so resource waste is much minimized compared to traditional marketing, which is always focused on broad-reaching campaigns.
Marketers say that ABM had a somewhat higher or much higher ROI than other marketing campaigns.
With ABM, you can get more meaningful conversation with the decision makers at your targeted accounts than having engagement with multiple unqualified prospects. It’s a strategy that puts a strong emphasis on quality and relationship-building with the right decision-makers at the accounts that you value most.
Simple Guide to a Successful ABM: 4 Key Steps:
1. Define Your Target
In ABM, each account is treated like its own market. Instead of collecting tons of leads at the top of the funnel, AMB allows you to narrow your target and quickly identify your best-fit customers.
2. Build Contact Personas
AMB relies on buyer personas and you need to have their contact details and profiles in your CRM. For enterprise companies, there are typically 17 people involved in decision making process compared to average 6 people within SMB. The people involved in are C Level contacts, Influencers and Practitioners. Different management groups lead at each stage of any purchasing process.
3. Engage Through Right Channel
You need to deliver personalized marketing messages to meet the specific needs of the account that is being targeted. You need to create contents that speaks directly to these stakeholders and organizations. You should understand these stakeholders’ specific pain points and appeal to how you can solve them with the right messaging using right engagement methods.
4. Measure Your Results
Track your target accounts’ progress down the sales funnel. Monitor contact behaviour and show marketing’s impact on generating pipeline and winning revenue. By aligning sales and marketing resources together to focus on pre-qualified accounts will be the right way to bring a potential customer to the table.
Ready to Start your ABM?
ABM is all about identifying your best-fit prospects, then focusing all your efforts on engaging these prospects on their own terms. For B2B marketing, this is essential, as it’s the most efficient way to use your time, energy and resources.
How Can CNCData Help?
Learn how to bolster your ABM efforts – or implement a new ABM strategy – by leveraging our success stories on how we put it into practice.