How to Use Account Based Marketing Successfully
Account Based Marketing (ABM) is gaining momentum, particularly in the enterprise business to business (B2B) and technology space, and there is a very good reason.
According to an article in The Insider newsletter from Digital Marketing Institute, 84% of marketers who measure ROI describe ABM as delivering higher returns than other marketing approaches. While inbound marketing remains a critical part of any comprehensive marketing plan, the addition of ABM adds significant value for a number of reasons. First and foremost, it creates stronger alignment between marketing and sales, which almost always leads to increased productivity, more consistent messaging to customers, and improved financial results.
If you are new to ABM, start by collaboratively working with sales to select target accounts based on the goals you have mutually set for the campaign. Determine a scoring system based on specific qualifications on which both groups agree.
Throughout the campaign, both sales and marketing employees will have specific tactical responsibilities that, if executed as planned, move the target account along the buying cycle much quicker than other accounts. These multiple touches are critical to break through the noise and reach decision makers today.
ABM is designed to help you communicate with hand-selected contacts within each target account in a personalized manner that will facilitate a more engaging relationship. For best success, target multiple contacts within each account that represent all parties involved in the buying process. Through the campaign, you will communicate with each of them independently as if they are a market of one. You will touch each prospect with custom emails, LinkedIn messages, sales calls and other direct response methods to ensure that they become more educated during the process.
This education process is facilitated by persona based content marketing. Develop content for your campaign that communicates a customized message appropriate to your target’s industry, role and stage in the buyer journey. Understand the challenges they are experiencing and address them directly and clearly.
Determine the appropriate channels to execute the campaigns. This important step further increases your campaign’s success by reaching the prospects where they commonly consume this type of information. Take the time to monitor the results of each channel. As you identify patterns in customer behavior, you will need to make adjustments. These adjustments are to be expected and are considered best practice.
Finally, make tracking and measuring results a priority. With a clearly defined group of accounts, monitoring and tracking is relatively easy to manage using a marketing automation solution like Hubspot or Marketo. Choose metrics that align with the goals of your ABM campaign. Common metrics include revenue growth, pipeline growth, account velocity and increased engagement. Choose the metrics that make sense for your business and your goals. Monitor those metrics and make weekly adjustments.
Accountability and consistency is critical to maintaining and growing your partnership with sales. The more you work together to adjust and grow the ABM campaigns, the more success your business will achieve.
Interested in learning more about Account Based Marketing? Feel free to reach out to me.
Sheila Kloefkorn is the President & CEO of KEO Marketing Inc. She was recently recognized as one of the Top 10 Business Leaders of the Year by the Phoenix Business Journal. Sheila can be reached at email@example.com