Account Based Marketing in 2019 | 6 Quick Pointers
97% said ABM give much higher ROI than other marketing initiatives. ABM is revolving to a bright future and thus we have got you 6 things you should know about Account Based Marketing in 2019. What do the statistics say about ABM and how can that help you make decisions? Following statistics will help you understand the benefits of ABM. According to a study,
- 67% of the companies have achieved greater customer success with ABM than other marketing methods.
- 66% said that ABM can give them positive references than other marketing methods.
- 57% found out that combined efforts with individual ABM accounts have prompted the innovation of profitable new solutions for the organization to take all the more broadly to the market.
Let us see 6 reasons why should you do Account Based Marketing in 2019?
1. ABM is client centric
In Account Based Marketing, both sales and marketing teams focus on solving your client’s problems than selling your solutions. This means understanding client’s pain points and fulfilling their needs through relevant content. Account Based Marketing involves all the decision makers in the loop, so it is very important to prove true to their expectations and deliver relevant messages which will get them converted into customers. Above all, ABM remains customer-centric as endeavors to solve their problems.
2. ABM gets sales and marketing teams aligned
For ABM to work successfully, you need to have sales and marketing alignment which also means having clear definitions of MQL and SQL, unified goals. With ABM you can have meaningful conversations within the departments which in turn deliver high-quality leads which allow the sales team to spend less time on qualifying and more time on nurturing the leads. Also, you optimize your performance by spending time only with prequalified leads. Having proper alignment will help in smooth hand-offs.
According to eMarketer, ABM works on sales and marketing alignment on a priority basis.
3. ABM focuses on building strong relationships with customers
Beyond generating leads and achieving short-term goals, ABM helps from the long-term perspective. 80% of marketers have seen that ABM outperforms other marketing investments. This is because ABM focuses on not only the organizational growth but want to provide valuable solutions to their customers.
4. ABM gives personalized experience to your target accounts
After finding insights from social media accounts of target accounts, ABM uses these insights to create personalized content. You need to engage with your leads to give them a personalized experience. It is important to have knowledge about your buyer and their needs, after which you can devise marketing strategy according to that knowledge. Once you personalize, you can directly speak to your prospects because a relevant content is likely to result in a positive response. Even though you generate leads in numbers won’t help you because you need to get these leads converted as your customers.
5. Account Based Marketing allows you to optimize your budget usage
In traditional lead generation method, you convert only 1 out of 100 leads. But as Account Based marketing targets only the ideal customer profiles, there is no money or time wastage on leads that would later be disqualified. Don’t you think, it is much easier to retain an existing customer than to find a new one? Getting a new customer is expensive than continuing building a strong relationship with the existing ones. Using ABM can increase your deal sizes by focusing on customers who can remain with you for a long duration. This is the reason why 52% of the companies are using ABM as their pilot project and those who have already used ABM have plans to increase their budget for ABM.
6. With ABM you can go beyond predictive scoring
Generally, manual or predictive lead scoring is used in lead generation. It is pretty much useful when disqualifying the leads and getting the teams on the same page. But the problem with predictive models is you cannot know your active leads. With ABM as you are dealing with individuals in target accounts on a personal level, it is easy to understanding where the deal actually taking shape. Also using AI for ABM makes it faster and more scalable. Of course, AI is not meant to replace conversation with humans but it can manage huge data which can be quite a task. ABM does not give average values metrics for click-through rate, open rate etc. like it does for lead generation. Rather, it gives you insights on individual accounts on the level of engagement, which are the active accounts, etc actionable information.
Many companies who want to target high-value accounts use ABM today. Do you want to use Account Based Marketing in 2019? Above 6 pointers will surely help you. For any further information on this, contact us.