Account-based Marketing (ABM) – a marketing paradigm that is increasingly being adopted by the corporate world. According to a study, nearly 70% of marketers use ABM to realize their revenue goals. The growing popularity of this novel marketing methodology stems from the fact it focuses on both number and quality of leads, unlike traditional marketing approaches that concentrate only on the number of leads.
So, are you too planning to climb the ABM bandwagon? How can you make the best use of the innovative marketing methodology to meet your growth targets? Here’re 7 proven tips.
1. Formulate a Comprehensive ABM Strategy
It’s often said the right strategy produces the right results, and rightly so. Come up with well-defined objectives for each account. You must consider various aspects such as the budget allotted for the ABM initiative, number of people to be targeted in each account, quantum of sales, level of engagement and insights gleaned from each account, when you develop a strategy to ensure ABM success.
2. Develop Customized Offers to Meet Specific Needs of Prospects
It’s no exaggeration to say personalization is the key to success of an ABM initiative (or for that matter, any marketing effort). Today’s customers expect companies to fully understand their unique needs and offer a solution that meets the needs with a very high degree of efficacy. You need to come up with robust content that addresses the specific requirements of target accounts and clearly explains how you can help meet them.
3. Make Your Sales Team an Integral Part of Your ABM Effort
Your sales team is a treasure trove of insights that will help you deal with accounts in a highly efficacious manner. This is because sales reps handle people related to the same account or those accounts with similar attributes, enabling them to provide you invaluable advice on how to proceed. In a similar fashion, your (marketing) team can furnish the reps with content perfectly customized to the needs of a prospect helping him turn into a dollar-giving customer.
4. Develop the Right Retargeting Strategy to Put Your Brand Ahead
It’s good idea to retarget your accounts to ensure repeated engagement. You must formulate an effective retargeting strategy to ensure your company stays in front of prospective customers. One of our customers uses cookies to identify the right target accounts as they scour the web. When people from these accounts visit its website, it displays ads that provide personalized offerings.
5. Assign Sales Territories Based on the Likelihood of Conversion
We all know most companies assign various territories to their sales reps. Organizations that successfully implement ABM strategies too allocate various regions to their sales personnel. However, the basis for assigning a sales territory is significantly different from firms that employ conventional marketing methods. Unlike traditional marketing organizations that allocate territories based on the principle of equal selling opportunities for all reps, ABM-using businesses assign sales territories based on the propensity of a sale; these organizations consider the social connections of their reps and other factors, which may play a key role in closing a deal.
6. Leverage the Power of LinkedIn to Zero-in on and Connect with the Right Accounts
LinkedIn is a very helpful tool for marketers using ABM; the professional networking platform comes with a feature called Account Targeting that enables you to find the accounts to target from more than 13 million companies. LinkedIn also helps you connect with key decision makers in each account at a personal level, and this goes a long way in conveying your message effectively. It’s advisable to integrate your existing list of e-mails with the social medium. Check out this interesting post to know more about how you can use LinkedIn with high efficacy for your ABM efforts.
7. Launch a Targeted, Personalized C-Level Marketing Campaign
A company can ask the members of its leadership team to connect with the C-suite executives of the prospective client. For instance, an IT firm can send highly relevant messages that clearly convey its value proposition from the desk of its Chief Technology Officer (CTO) to CTOs of potential clients. After connecting at the C-level, businesses can then assign their SVPs or VPs, sales representatives and marketing team members to people with similar designations at target organizations.
The tips listed above go a long way in ensuring the success of your ABM initiatives. At SunYello, we have helped various organizations fully harness the immense potential of this novel marketing methodology. Our strong emphasis on comprehending the unique business needs of our clients helps us craft the winning strategy to meet their revenue goals.
Hope you find this post useful. How do you plan to connect with the right customers? We’d love to know.
