B2B marketing is an imperative part of marketing campaigns as the target is to appeal as many companies as possible present in the targeted business mailing lists. Account-based marketing is an alternative to the B2B marketing strategy. Account-Based Marketing makes it possible for B2B companies to align their sales and marketing teams. It makes them promote long term business growth, impress and attract potential customers, and boost revenue and sales for the company. It makes two very important departments of a company, i.e., marketing and sales work in sync.
What is Account-Based Marketing?
One of the most focused growth strategies is the Account-Based Marketing (ABM). Under ABM, the marketing and the sales team collaborate to boost the sales of the company. They together prepare the marketing strategy and target companies with high-value accounts and also weed out low-value accounts. They aim at focusing their effort toward bringing more business from companies who can afford their products and services. The team together personalizes the buyer’s journey, create marketing content and email marketing strategy, and build campaigns specifically for those high-valued companies. For email marketing, companies can take services from email service provider companies such as AverickMedia.
Account-Based Marketing strategy users
ABM strategy is highly suitable for companies that have separate marketing and sales team. It is highly profitable for B2B businesses, also where the competition is neck-tight.
Benefits of Account-Based Marketing
There are infinite benefits of account-based marketing. Some of the benefits are listed here:
- Keep marketing and sales team aligned- when the departments in a company work in sync, they sure shot derive more sales and build a business. ABM focuses on aligning the marketing and sales team; it focuses on keeping them together on the same goals. It also makes them stick to the budget that was mutually agreed upon. They work in sync and understand the roles of each stakeholder.
- Maximizes business relevance- when you follow ABM, you personalize your strategy. You create content, communications, and email marketing campaigns that are personalized; you also invest a huge amount of resources while doing the same. Your relevance among high-valued accounts is maximized by personalizing ABM. This is because your efforts are tailor-made, you present your services, products, and offerings in a way that makes them realize it is only your team and services they need to boost their business.
- Deliver consistent customer experience- since your marketing and sales team aligns to provide services to your accounts, ABM delivers consistent customer experience. ABM makes each account feel that they are special and only one for you, it provides personalized services like no other. With such great services, why will a company stop working with you?
- Measure return on investment- with ABM, it is possible to measure ROI for every account you invest your time and resources into. It is beneficial because this way, you will understand that your efforts did not go in vain. You can put on more efforts in accounts that are proving to be more profitable and nurture a long term relationship with them.
- Expand business- ABM focuses on quality, as when you incorporate ABM strategy, you invest a significant amount of resources and time in delighting a group of high-valued and carefully chosen accounts. You also close deals with no-valued or less-valued accounts. When you such trusting relationships after taking so much effort, it surely helps you expand your business.
How to Implement it? - Account-Based Marketing Tactics
- Secure organizational ABM alignment- for the success of the ABM strategy, it is necessary to have secure organizational ABM alignment. It means that informing all internal stakeholders about the ABM strategy. By doing so, you can establish a long term relationship with your accounts as it will create consistent experiences for them.
- Build a strong ABM team- ABM strategy will not work if you don’t build an ABM team. The team will be responsible for tracking every account individually. They will work to manage and close business deals with accounts, look after their requirements, and boost business. Apart from marketing and sales representative, you can also include a customer success representative in the team.
- Identify and pick your ideal set of accounts- pick an account that is high-valued for the business that boosts your sales and comes back to you for your services. You can pick a high-valued account by creating search alerts on LinkedIn, or buy target email lists from the database service provider. Such a company can also provide you with targeted business mailing lists to target your ideal customer profile.
Examples of Account-Based Marketing
- Engage your target accounts with educational content such as a blog post or a webinar. Select a topic in which they can be interested in gaining knowledge.
- Send personalized emails to targeted accounts. You can take the service of AverickMedia who can provide you with targeted business email lists so that you can reach your target accounts through email marketing. In your ABM strategy, make use of the social media platform to engage target accounts.
In this highly competitive market, it is necessary to penetrate through some highly realistic and practical marketing strategies that help reach target accounts. ABM is one of the most practical ways of doing so. Reach your targeted high-valued accounts with the help of account-based marketing and make out the best from it.
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