The world of marketing is continuously changing with the evolution of new trends and mantras. Due to this constant shift, many salespeople find it tough to decide which trends to pay attention to. It is advisable to stick to the good old ones that have been here for decades.
One such marketing strategy is account-based marketing. It picks up speed as companies look to hone their marketing strategy to be more efficient and cost-effective.
In this blog, we have covered-___________________________________________
- What is account-based marketing?
- Benefits of ABM campaigns
- Identifying best-fit accounts for ABM campaigns
- Designing an ABM campaign
- Setting up your ABM checklist
- Examples of highly successful ABM campaigns and methods used by them
What is account-based marketing?
Many B2B and B2C companies have always identified a handful of high-value accounts they think are most likely to convert and create individualized marketing campaigns across various channels. However, with the change in technology and digitization of marketing, ABM campaigns have become hyper-personalized, targeting prospects across multiple online platforms throughout their buying journey.
Benefits of ABM Campaigns
As mentioned below, the benefits of ABM, when done right, significantly outweigh the effort and lead to massive conversions and closed deals. In short, ABM is a messiah in disguise, which can save you time, money, and human resources.
We have listed below the benefits of ABM___________________________________________
- Align marketing activities with sales goals
- Build a personalized relationship with high-value accounts
- Prevents loss of marketing funds in haywire marketing gimmicks
- Analyze specific market segments or audience at a particular time
- Provide need-based solutions to high profile accounts
- Reduce spam and increase website DA
- Build customer loyalty and improve branding
- It leads to better management of resources
ABM also leads to better management of marketing resources, helps marketers and sales spend less time, money, and resources on campaigns, and focus on personalized campaigns designed to resonate with the most high-value prospects.
- A broad approach to lead generation.
- The motive is to attract as many leads as possible.
- The main focus is to attract and nurture new accounts/leads.
- Generate brand awareness.
- Roll out offers and discount codes to make sales.
- Targets niche accounts with high values.
- The motive is to target and convert key accounts and retain them for longer.
- The main focus is to identify key people and engage them.
- Build long term relationships.
- Create new opportunities to address pain points.
How to identify high value accounts for ABM Campaigns?
1. Creating you ICPs
We posted a detailed guide on creating an ICP for lead generation in the B2B industry, along with downloadable templates. You can utilize them to build your customer profiles quickly.
2. Channel mapping
Channel mapping gives you a detailed overview of your audience and is an effective and critical step in defining your ABM strategy. With this information, you can focus your resources on your most valuable channels and partners.
3. Enrich your CRM data
We offer an array of data enrichment services that will ace up the quality of your contact and company database. Multiply your returns with a highly accurate, manually verified database right away!
4. Look at your competitors’ customers and your customers’ competitors
5. Use AI technology to leverage your ABM tech stack
How to design an ABM campaign
Broaden your horizon:
Nurture the account:
Measure the reach and impact of your campaign:
Setting up your ABM checklist
01 – Set the goal of the campaign
02 – Set the budget
03 – Build the team
04 – List the target accounts
05 – Choose the channels/content.
06 – Determine the technology/ channels
07 – Optimize the campaign
08 – Measure response
The best example of a highly successful ABM campaign
Solution-Targeted 500 accounts, divided them into three tiers and implemented different ABM tactics for different tiers.