In today’s consumer world, it’s becoming increasingly difficult to capture and hold the attention of buyers, especially compared to the market needs of the past. Thanks to technology and the digital environment, however, marketers and small businesses alike can connect with potential customers and key accounts on a whole new level.
With everyone so connected online, the potential for engagement is endless – and this sort of personalized online interaction is the key to establishing meaningful contact with the most valuable accounts within your target market. That’s where account-based marketing (ABM) comes into play.
What Is ABM, and How Can It Work for My Business?
For small businesses, there are many challenges on the road toward successful digital marketing. As a result of information overload and the evolving needs and expectations of customers, it’s a battle to be heard over all the digital noise. Fortunately, ABM strategies can benefit companies in ways that go beyond a standard marketing strategy.
At its core, ABM promotes sales and marketing teams working in tandem to identify and engage high-value accounts, ultimately resulting in more lucrative sales agreements while also achieving marketing goals. When this partnership is successful, ABM becomes a highly targeted approach to B2B marketing that results in improved conversion rates and the generation of more qualified leads.
The Benefits of Account-Based Marketing
When it comes to B2B marketing applications, account-based marketing tactics have become particularly popular for companies wishing to target accounts of interest more effectively. For B2B companies looking to sell their products to large commercial clients with an extended sales cycle, for example, an ABM strategy allows for more control over the marketing funnel in terms of lead generation and retainment than more traditional techniques. The benefits of account-based marketing include the following:
Effective account-based marketing strategies are built upon a foundation of trackable digital solutions that provide more reliable, more accurate measurements related to engagement, market definition, lead generation, and more. Out of the established B2B marketing tactics, account-based marketing tactics hold the highest ROI potential.
By adopting a marketing strategy that utilizes an ABM approach, companies can more effectively allocate valuable resources to projects that will actually prove effective in generating leads – what a win! One project we recommend prioritizing is developing personalized content to target high-value accounts – this is central to the ABM strategy.
With account-based marketing, designated sales and marketing teams work together to develop meaningful relationships with decision-makers of key accounts. Through these relationships, made possible by aligning company sales and marketing efforts, captured leads are more likely to become long-term partners.
Account-based marketing strategies are built on a foundation of high levels of personalization. This is made possible by the many digital marketing solutions available to small businesses and companies across the tech industry and beyond. These high levels of personalization – which may be used in your own ABM strategy in the very adaptable forms of marketing campaigns and creative content marketing efforts – provide better results in lead generation and user engagement with key accounts.
When the sales and marketing teams of a company work together, they become a more informed and more connected workforce as a result. Through proven account-based marketing tactics, such as personalized events and webinars, small businesses and companies begin to build meaningful relationships with highly targeted accounts. From there, a sales rep can use this marketing event – an email campaign or paid advertisement, for example – to guide the account through the sales funnel more effectively and efficiently.
How to Implement an Account-Based Marketing Strategy
So, you’ve identified an area of your own business that may benefit from the solutions provided by ABM tactics. Begin the process of establishing an ABM strategy for your own business by getting your sales and marketing teams together to identify the target accounts that will drive your marketing efforts moving forward.
Once you’ve identified your key accounts, a sales rep can begin the work of communicating with account decision-makers to build your network of industry relationships. From there, you can start exploring the many possibilities and solutions offered by ABM campaigns. Below are a few examples of ABM tactics that you might adapt and apply to your own marketing strategy.
At the core of account-based marketing is the element of personalization. By sending out email or direct mail campaigns, for example, tailored to individual target accounts, companies increase their chances of reaching and connecting with key decision-makers. On the web, a targeted, account-specific experience can also be created for users through the company website.
Some popular examples of paid advertising include pay-per-click (PPC) and sponsored social media campaigns, both of which have been proven as highly effective methods for connecting with target users on the web. Through social media, companies can establish their brand and online personas. The brand messaging that stems from these elements is then magnified by paid ads to display personalized content to a small number of target accounts.
One of the most effective ways for sales and marketing teams to persuade key decision-makers at priority accounts is through the use of events and, for the digital space, webinars. Companies may personalize these in-person or online events to connect with target accounts over dinner or through presentations or give-away events.