Account Based Marketing Benefits: Why ABM is Worthy of Iron Throne in Marketing?
B2B marketers are planning to increase their budget for account based marketing next year along with investing in educating their teams about it
One of the ABM benefits is 97% businesses achieved “”somewhat higher”” or “”much higher”” ROI with account based marketing
Must Read: 5 ABM Mistakes You Cannot Afford to Commit
businesses found account based marketing “”provided significant benefits to retaining and expanding existing client relationships”” and 65% achieved “”significant benefits to attracting new clients””
What is Account Based marketing?
Instead of identifying the target companies at the end (like in the traditional sales funnel), account based marketing aims to create a list of targeted companies first. The businesses you identify as your targets are referred to as accounts (they are not individuals, remember that!). Also, it has nothing do with accounts. Once that is done, the relevant teams create marketing collaterals which aim at alleviating the pain points your target buyers might have. The buyers start to see you as their problem solver and you start gaining their trust. Now, your team starts promoting it on platforms where your buyers are active. This maximizes your reach
What are the Account Based Marketing benefits?
If you think you are too small for marketing, think of the ABM benefits it will have. If you think you are too big and small businesses can’t snatch away your buyers, think again (really!). Remember A very small man can cast a very large shadow You need not have the riches, power, and authority to make an impact on the realm. However, all you need is to help people achieve what they want and you will make it big.
ABM Benefits #1 – It aligns marketing and sales team
For years, marketing team created collaterals keeping a particular market in mind and sales team focused on engaging customers who they think can buy. Are they aligned? Mostly not.
However, ABM focuses on a defined target account and streamlines the efforts made by sales and marketing teams. They speak the same language and represent one brand. To quote Engagio, In traditional demand generation, marketing throws leads over the fence for sales to chase. In ABM there is no fence. The collaboration is close, constant, and totally focused on defined, account-specific objectives.
ABM Benefits #2 – Efficient and optimized
One of the best account based marketing benefits is it helps account managers to handle many more accounts. This reduces the moolah spent on hiring competent resources time and again. You do not have to worry about accounts leaving because your processes are automated. If you lose on a contact, you will get another. As a B2B marketer, you will know that your ideal prospects don’t come to you automatically. You need to identify prospects, their activities, buying signals, and nurture prospects effectively. ABM allows you to do just that.
Must Read: 3 Ways to Maximize Event ROI with Account-Based Marketing
ABM Benefits #3 – Better customer experiences
According to Aberdeen, 75% of customers prefer personalized offers. So, instead of creating content and hoping it will appeal to everyone, ABM aims at researching target audience and design campaigns specifically for them. This results in a personalized sales journey for each potential buyer.
ABM Benefits #4 – Increased ROI:
A 2014 ITSMA survey showedABM is targeted, accurate and personalized which makes it easier to calculate the ROI
ABM Benefits #5 – Goal-setting and analytics are easier
Considering ABM is targeted, the number of accounts you are analyzing is small making it easier to draw conclusions and compare results. In B2B marketing, if you lose a customer you lose them forever but with ABM strategy you have the advantage of knowing the needs of your target audience and that can help you win the B2B warSo, Are you going to be one who wants to rule the seven kingdoms and sit on the iron throne? We hope, yes. If not, those three deadly words as they say in Winterfell will haunt you.
ABM is coming!
Subscribe for blog
Google Analytics Certified, Having 3 Years of experience in Digital Marketing. Skilled in Search Engine Optimisation (SEO), Search Engine Marketing, Content Marketing, Social Media Marketing (SMM), with a proficiency in Microsoft Office, WordPress and marketing automation tools.