In the world of B2B marketing, Marketing departments often attempt to target as many companies as possible. This can be successful, but it takes a considerable amount of time and money for businesses to see results with this "Spray and Pray" approach. Account-Based Marketing (ABM) is a strategy that starts with identifying a group of Accounts and then using highly personalized campaigns to engage with them.
Can You Benefit From ABM?
If your current B2B marketing approach has not been driving high-quality Leads or ROI seems to be lacking, it may be time to consider Account-Based Marketing. Under most circumstances, your business can benefit from ABM if you are:
- Attempting to targeting specific Accounts
- Looking for a way to personalize communications
- Trying to cross-sell to existing Accounts
- In need of highly qualified Leads
- Struggling to accelerate pipeline velocity
If you think ABM is the right strategy for your business the next step is to outline a plan and set a budget. We have put together a few "getting started" tips below.
Identify Target Accounts
ABM campaigns require extensive research about Target Accounts. It is imperative that you understand the culture, history, and needs of each target, especially since you will be tasked with sending highly-personalized messages to a number of individuals within the Target Account. Once the structure of your Target Accounts is identified, personalizing campaigns should consist of varying degrees of communications, with particular attention to the key stakeholders and their influencers.
Choose The Right Communication Channel
Today, marketing requires in-depth knowledge of multiple communication channels, including email, web, social media and direct mail. Some people prefer email while others prefer the phone or social media. It's is your job to leverage the right medium and connect with prospects everywhere they are researching their problem. Email, digital advertising, and social media are just a few communication channels used in ABM to reach Target Accounts.
Take Advantage of New Marketing Technology
Executing an ABM strategy can be intimidating especially due to overwhelming amount of new technologies that allow B2B marketers to execute and measure their campaigns. There are literally thousands of applications built to handle different parts of ABM. At Rubis, we have assembled an innovative stack of applications, platforms, tools and tactics that deliver the best ROI so you don't have to.
The Importance of a Pilot Campaign
Applied learning is also an integral part of the ABM process. We highly recommend designing a pilot campaign before attempting to schedule full blown campaigns with target accounts. As always, be sure to carefully research each account and company before starting your pilot
Common ABM Pitfalls
ABM is not a cure-all for stagnate sales, and you must implement a successful strategy if you want to increase sales-qualified leads and accelerate revenue growth. ABM is not a tactic, it's a strategy. It is helpful to avoid making the following pitfalls when executing your ABM strategy:
- Failing to apply learning from unsuccessful campaigns
- Lacking Sales and Marketing alignment
- Focus on marketing-qualified leads (MQLs) not sales-qualified leads (SQLs)
- Not split-testing your messaging and communications
- Inconsistently following up with people within Target Accounts
All of the above, can ruin your chances of accelerating revenue growth. If your company is having difficulty crafting an ABM strategy, reach out to Rubis for help.
Your Next Move
A carefully planned ABM strategy drives demand generation and accelerates revenue growth. Personalized messaging for your B2B target accounts is a must. Learn more about how we've helped clients with their growth initiatives.