5 Core Components of an Effective ABM Strategy

5 Core Components of an Effective ABM Strategy

“I’m not getting enough leads even when I’m targeting everyone!” Well, that’s the problem; you don’t have to target everyone.

Without ABM, your marketing efforts are a wild goose chase.

Account-based marketing has been around for about two decades but the last couple of years have seen a substantial surge in its traction.

From being a word not so common, to a cool word every marketer vouches for, ABM has come a long way. So, what is ABM anyway? Here’s how HubSpot defines it-

Spray and pray marketing doesn’t work anymore. You need something more solid. Marketers have finally come to the realization that for achieving marketing goals, they need robust account-level strategies in place. These are the account targeting strategies you should implement right now!

Sales and Marketing Alignment

Get the two teams on the same page! The rift between the sales and marketing teams can be devastating to your business. To get the most out of your sales and marketing budget, all the touchpoints in the marketing process need to be aligned with the sales strategies. Collaboration is the key!

The alignment is essential for both the teams to assume accountability, together. You don’t want the salespeople grumbling the MQLs are not good enough, and the marketing team cribbing about the lack of follow up.

Communication that Resonates

How many times have you received irrelevant messages and just ponder for a second what was your response to them? In a time where your audience is used to customization in all aspects of their lives, sending generalized messages is a path to self-destruction.

Make sure to craft messages that resonate with your audience. They don’t want to hear about stuff that doesn’t matter to them. Provide value, educate or convey you understand their pain points and know how to make things easy for them!

Audience Segmentation

Your audience is distinctive. You can’t cater with a one size fits all strategy. Hyper-categorize your audience and create a detailed buyer persona for each category. Segment it in a way that aligns with your marketing goals.

Create different marketing strategies for these segments. This will make the process of driving them through the funnel much more effortless, and the first interaction is more likely to convert into a purchase.

Source- Marketo
Account Prioritization

Start with research, identify the accounts you’d like to do business with. After you have the list of accounts that are your target audience, build a strategy to get in touch with them.

The best approach is to engage these accounts via various marketing channels such as social media posts before you go ahead with your pitch. Understand that it’s not one person you have to reach out to; you need to connect with multiple people from a company.

Now, focus on the target accounts that are most important and close the ones that matter the most to your business.

Creating Differentiated Experience

With a well-coordinated timing between the interaction of a prospect with your brand and your sales team taking a follow-up, you can give your customers a highly customized experience that will really speak to them.

This is what account-based marketing is really about. You create highly customized marketing campaigns instead of casting a wide net. When you target the right audience with the right tactics and give them the experience they are looking for, they are naturally attracted to you and want to do business with you!

Envoi

As per Marketo, 79% of marketing leads never convert into sales with the traditional marketing approach. There’s a logical reason why businesses all around the world are focusing on building an ABM strategy.

To generate high-quality leads and make the conversions as smooth as butter, you don’t just need an ABM strategy; you need an ABM strategy that works for you!

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