Account-based marketing (ABM) is a focused approach where marketing and sales teams work together to target best-fit accounts and turn them into customers.
ABM means isolating the single best prospective company that you wish to sell your product or service to then creating a plan to identify who in the company you need to influence. What information do they need, and how can you best create it? How do you get this information to them? Do you succeed or fail, and what to do next?
The implementation of an ABM strategy can help improve marketing ROI, drive attributed revenue, generate more conversions and qualified leads, and align sales with marketing. This can be achieved in six stages.
IDENTIFY the high-value accounts most likely to buy, based on product usage, business fit, culture, budget, interests, investments, and a network of business relationships.
ATTRACT target accounts to your website so that when the right stakeholders are online, they receive personalized messages and focused advertising that speaks to their specific pain points and solution needs.
ENGAGE the account with relevant, personalized content and calls-to-action with relevant messaging and imagery specifically for your target segments.
CONVERT target accounts to sales opportunities by developing and executing an ABM strategy directly in your marketing automation platform to run account-based marketing campaigns, all while driving better quality leads with shortened forms.
CLOSE deals by identifying the right individuals to contact within your target accounts and gather insights for sales to personalize outreach and maximize the quality of your conversations.
MEASURE success by using a mix of leading indicators (e.g., downloads and MQAs) and lagging indicators (e.g., win/loss rates, funnel velocity, and annual contract value) to determine the effectiveness of your campaigns and overall ABM strategy.
ACCOUNT-BASED MARKETING ARTICLES
From The Editor: Will B2B Marketers Flinch When Trade Shows Are Back?
Will in-person events go back to eating up a disproportionate share of their budgets? Will content creation come to a grinding halt, causing company blog pages to appear frozen in time?
In his conversation with the ClickZ peer network, DeepCrawl’s Alex Schaefer referenced a McKinsey study showing 10-years’ worth of growth in US ecommerce penetration in just the first three months of 2020. Although very much consumer-focused and driven by shelter-in-place, “shop-from-home” determinations, Schaefer’s advice for marketers is universal: Focus on your website, aligning your marketing and software engineering teams around organic search performance, which at its heart is all about brand publishing to pull audience in:
Much in the same way that content marketing has grown as a meaningful component of a well-balanced B2B marketing plan, Account Level Marketing (ALM) is quickly taking root. Account targeting is not a new concept but today’s software tools and media channels make it far more cost-effective to execute.