5 Reasons to Implement B2B Account Based Marketing Strategy
ABM is a B2B account based marketing strategy to help connect with individual prospects or accounts as one. However, ABM can be seen as a one-to-one approach rather one-to-many approach since it communicates with the accounts with personalized messages.
B2B account based marketing is usually used in the brands that are enterprise-level, that is, organizations having more than 1000 employees. It helps the teams with the following issues:
- You can engage earlier in the sales procedure and have higher opportunities and value.
- You can align your strategic marketing initiatives with the sales team and the account management strategies.
- You can also maximize your ROI and brand value from marketing campaigns.
You might have already been using the account based marketing elements in your B2B marketing strategy but it has got a whole new level of importance in recent years. Therefore, if you haven’t already, you should integrate ABM into your marketing plan.
You may have run marketing campaigns that have, in the past, appealed to the masses, but now with the inbound marketing, your chances of targeting your business prospects with relevant content has an additional value. As and when you apply inbound marketing in your strategy you will realize that individuals respond to different piece of content and assets depending on the buyer persona and their position in the decision-making journey.
Your B2B account marketing should focus on a few huge and crucial accounts or the accounts that hold the potential of adding some value to your bottom line. This also means that you should have a very important and targeted message to be sent to these individuals so that the revenue potential is high.
Here are 6 reasons for implementing account based marketing strategy in your B2B organization.
1. Use of Marketing Resources Effectively
Marketing has been constantly stretched in several directions. ABM helps in restructuring your marketing resources and efforts for targeting your key accounts which bring in major part of the revenue. By narrowing the focus you can understand that the initiatives by ABM optimize your most valued resources like time, money and staff. You can make your marketing team work with the sales team, by integrating the two teams and develop the content accordingly. Not only will this maximize your marketing resources’ efficiency but it will also help build a channel for communication by aligning the sales and marketing team.
2. Defined ROI
High Return on Investment or ROI is one of the strongest reasons for implementing ABM. Generating revenue is the main aim of B2B marketers. You can invest in this approach for getting a return on investments as well as for generating higher revenue. Since account based marketing doesn’t need a lot of time to deliver tangible results, the team uses less time to research and identify the companies that they can invest in. When you identify the businesses, an ABM approach will offer what that business needs and if the marketers put in the effort they will accept the offer in no time.
3. Maintained Personalized Communications
The marketing strategies that are personalized have proven to engage the prospects and customers efficiently. B2B account based marketing will take personalized marketing to a whole new level by creating content that the key decision-makers want for moving them forward to complete the buyer’s journey. To produce such a content you need to do your research so that the decision makers recognize it instantly. Also, to achieve this there should be perfect sync between marketing and sales for effectively targeting the contacts in such a way that it becomes meaningful for you.
4. Aligned Sales and Marketing
If your sales and marketing teams are functioning in individual silos you need to change that for the good especially when you are planning to implement an ABM strategy. Implementing this strategy requires both the teams to work in a close-knit manner for identifying the key accounts, developing communication strategies and tactics and monitoring the success of the campaign. The approach of personalization is driven by content marketing and it makes itself clear through personalized sales pitches. Therefore, you have to make sure that when you do implement B2B account based marketing in your marketing strategy the sales and the marketing team simply collaborate and meet as and when required.
5. Enhanced tracking
When you are reviewing the bottom line of your organisation, the presence of ROI becomes critical. However it is also important that you report the tactics that have either contributed or not contributed towards that ROI. You should review if each tactic is effective and whether it is a special event, a webinar or an email campaign. Once you understand the effectiveness of your ABM strategy you will be able to build even more effective marketing campaigns in the future. With the enhanced software platforms that are been made available lately, you can track your campaign in real-time and make the necessary changes to the same on an on-going basis. By tracking these metric you will be able to save both your money and time, not to forget efforts of your marketers.
If you happen to own a B2B brand, account based marketing is the best kind of marketing strategy that you can and should invest in. It allows you to target realistic and potential clients, who can bring in high revenue, and personalize the communication to strike a chord with them. You are guaranteed to reach high ROI faster, as compared to your traditional marketing campaign, through high focus and personalized communication.
ABM is the next level of B2B marketing that will help your organization in driving clear ROI and sales results on the basis of the marketing campaigns that is measurable.
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