Account Based Marketing Best Practices at OnlyB2B
Do you want to move to spear-fishing technique so-called account-based marketing? You are in the perfect place since I am prepared to take you alongside me as I help you with best account-based marketing practices at Only B2B. What is account based marketing and how do we integrate it as part of our marketing strategy at Only B2B is what we will discuss in this article.
According to Jon Miller,
Account Based Marketing is a strategic approach that coordinates personalized marketing and sales efforts to open doors and deepens engagement at specific accounts. – Jon Miller, CEO, and Co-Founder, Engagio
We at Only B2B believe that, for any successful sale, you need to find ways to engage with your target audience rather than getting them added in your sales funnel. How can you build a strong relationship with your prospects using ABM? There are different approaches to implement ABM but not one size fits all. Hence, you need to do research and what you can do for revenue growth.
To implement ABM, you have to first set clear goals for personalized campaigns that you will be carrying out. You need to focus on the target accounts and measure your success. We at Only B2B have seen below as Account Based Marketing Best Practices that helped us implementing 3 types of ABM using the tactics that work best for them.
1. Strategic ABM (1-to-1 ABM)
2. ABM Lite
3. Programmatic ABM
You need to develop the storytelling skills in your content as it is Account Based Marketing Best Practices. What is the power of storytelling in account-based marketing? Naturally, we are driven to stories in the forms of movies, books, dramas, etc. They consume a lot of our time and that proves using storytelling technique in your ABM is worth it because your prospects make a decision primarily based on emotions and later it is backed up with logic. That’s what ABM does by using a personalized approach. To target your accounts on a personal level you need a story that will increase your revenue.
Have you seen your sales and marketing telling a story anytime? Hardly do they, so, there is a need to implement this aspect in your ABM. We at Only B2B make sure to let any story that we tell have a beginning, middle, and end.
Sales and marketing teams never tell a story, why?
An anecdote helps your prospects with opinions on what they need by adding elements of context/opinion and guides them. Anecdote adds a little bit of point of view but there is a difference between working hard and working smart. Unlike anecdote, storytelling focuses on having impactful interaction by means of having a beginning, middle, and the end to your content. The diff between anecdote and story is that you not only tell opinions about what your prospects should be doing but you also give them a chance to connect on an emotional level. You need to finesse your story to different personas of your target account.
There is a difference between simple personalization and super personalization. You might add targeted titles or subtitles, imagery for a particular industry, case studies from the target market, custom landing pages, etc. But how can you start giving compelling experience to your target accounts? You can super personalize your content by creating reports. A great example of this is HubSpot which gives you report once you give URL is one of the ABM Best Practices.
Did want to know how many accounts you should target in ABM?
- What’s your average deal size?
- How long is our sales cycle?
- Level of engagement you have with the current target account
Use Predictive analysis
If you want to get high revenue, you need to prioritize using predictive analysis. You need to collect data about your target accounts both online and offline. Once you have the insights from data you need to utilize that info using the right system and the right people.
You should also leave room for traditional methods. ABM is not as easy as you might think, hence, we are mentioning below Account Based Marketing Best Practices.
- Know your market
- Combine your customer data with trusted market data
- Segment along multiple dimensions
- Build an ideal profile
- Identify and validate targets
- Select target accounts for both account management and business development teams
- Map contact coverage in target accounts
- Populate account map
- Identify relevant data & contacts,
- Map influencer and decision makers
- Connect account insights to sales and marketing strategy
- Create account specific messages
- Using insights gathered above
- Generate or modify messages and personalize content for target accounts and contacts
- Execute the program
- Create engagement plans
- Personalized marketing campaigns
- Direct touch sales
- Measure, refine, expand
- Track results
- Refine as needed
- Consider any account or market changes
So far, organizations have been facing many challenges and hence Only B2B team wants you to consider the following questions. Have you already defined the ABM strategy? How well do you understand the particular pain points of your customers? Does your content address those pain points? Do all these basic things to help your customers and we are sure you will have it nailed.