Marketo defines Account Based Marketing or ABM as “an alternative B2B strategy that concentrates sales and marketing resources on a clearly defined set of target accounts within a market and employs personalized campaigns designed to resonate with each account.” One of the key techniques when it comes to the B2B domain, Account-based marketing is excellent for targeting a specific section of an interested market with a view to getting better responses, save time and target only your preferred audience. It also saves advertisement cost and makes sales and follow-up processes simple.
In addition, Account Based Marketing has seen a considerable amount of growth in the last few years, because of its capability of reaching out to more B2B marketers and people being accustomed to the multiple benefits it offers. A study by Altera Group states that 90% individuals found the ROI from Account Based Marketing much higher than other marketing initiatives.
Although Account Based Marketing has been here for quite some time, it may sometimes get a little challenging especially for new beginners, however, these easy tips will ensure you stay ahead of the curve:
Best B2B Account Based Marketing Tactics
1. Be specific and make sure you research to get complete knowledge about the market/firm that you are choosing to target.
2. Before reaching out to the concerned persons, work on your strategy. This involves personalizing messages, knowing whom to target specifically and learning how to fulfill the void in the organization.
Choose your marketing channel correctly.
3. Lastly, always make sure your core focus lies on maintaining quality and not on reaching more people. The latter may show a better picture on paper, however only the former will help you grow.
Account Based Marketing is huge in terms of ROI. With multiple benefits, most rising firms take to this strategy with a view to meet their targeted audience. Across multiple Account Based Marketing strategies, here are some of its key benefits –
Things you need to know about Account Based Marketing –
1. Highest ROI: Account-Based Marketing has continuously delivered highest ROI, as per findings from across various studies, distributed across different industries, thus making it the #1 marketing strategy for millions of companies worldwide.
2. Minimum Resource Utilization: With targeted specifications, there is minimum time consumption, low resource utilization and it gives faster results.
3. Personalized Touch: With so much focus on reaching out to only those who will be benefitted by your offering, Account Based Marketing makes your approach personalized, creative and more enhanced.
4. Increase in Revenue: Needless to say, Account Based Marketing has a direct and huge impact on the revenue of your firm. Targeting only profitable aspects increases chances of being turned down and leads to greater profits.
Sirius Decisions further enlightens on Account-Based Marketing Practices. “What makes ABM so attractive right now is the way it combines insights for strategy and technology for execution. Marketing teams who understand ABM are in a powerful position to better align to what Sales needs, and to make smart choices about the right actions to take and the right time to take them to grow high-potential accounts.”