Account-Based Marketing: Why Businesses Should Consider It

ACCOUNT-BASED MARKETING: WHY BUSINESSES SHOULD CONSIDER IT

Account-Based Marketing or ABM has been around for a long time, but it’s only now that people are really paying attention to it and more closely and consciously implementing it as part of their marketing campaign. It involves taking your resources and placing them all in a specific set of accounts within the marketplace. The business strategy uses campaigns that have been customized to engage each account individually. These campaigns are developed with an account’s specific needs and wants in mind.

Many people in the industry consider account-based marketing to be revolutionary and cutting edge. This is because the strategy looks at marketing holistically, as a whole, whereas older techniques focus too much on lead generation. A key attribute within account-based marketing looks at betting and leveraging larger accounts. This means you’re trying to upsell and cross-sell your largest accounts to get more value out of them, instead of wasting time in the seemingly endless and tedious lead generation cycle.

Account-based marketing offers benefits to both the company and its customers. This is also one of the reasons why people are drawn to him.

1. Personalized and personalized marketing experience.

Understanding your customers better gives you an edge over the competition and allows you to strengthen your business relationship with that customer. The personalized marketing campaign could lead to better and more sales. A big part of account-based marketing is customizing marketing techniques for larger accounts. By determining the expectations, wants and needs of the customer, you can tailor the marketing campaign specifically for them and for them.

2. More realistic ROI expectations

Account-based marketing is known to yield higher profits than any other marketing strategy. It offers the highest return on investment (ROI) of any other B2B marketing strategy. The new strategy provides more accurate measurements of the ROI that a company can expect. In turn, it allows companies to better control how their customers respond to certain advertising techniques. This means they have more control over which tactics work and which ones don’t.

3. Strategic use of available, fewer or limited resources

The account-based marketing approach focuses on a smaller number of accounts at any given time. Because they are working with fewer accounts, they are more likely to bring those accounts to the final sales process. In fact, it will bring more with fewer resources. This also frees up resources that used to be spent funneling numerous businesses. So businesses using account-based marketing tactics can use these now free resources to fill out and focus on other tasks.

4. Significantly shorten the sales schedule

With your sales and marketing teams working together to align and move accounts through the sales pipeline, you’ll find the sales cycle shortened significantly. Your teams don’t have to juggle several separate moving parts. Rather, you’re streamlining the process and making it easier for everyone to keep up with the leads and customers your business currently has. This also makes it easier to serve these specific customers, ensuring that their concerns are addressed appropriately and in a timely manner. They don’t get lost in the noise.

5. Better, more effective and efficient alignment of marketing and sales

Marketing teams and sales teams are more likely to work together to achieve goals and sales together. By bringing these entities together, they can work on important tasks as a team rather than individually:

• Identify the accounts you want to target

• Create customized/personalized marketing campaigns for those specific accounts.

• Align accounts and move them through the sales cycle as a team

• Taking an account-based approach to marketing will take your lead conversion method to a new level. If your marketing and sales teams are still separate, you’re likely in a lot of trouble when it comes to successfully converting leads into sales.