For the longest time, businesses have followed certain business models that allow them to communicate with their customers. However, like everything else, these business models/strategies change, they evolve. Businesses should always keep themselves informed on what is relevant and on the new technologies that will allow them to reach their customers in an easier and more efficient way. New strategies are introduced and businesses have to “adapt or die”. One emerging trend in B2B marketing is account-based marketing, ABM. Here is what you need to know…
What Is ABM?
Account based marketing mainly focuses on addressing the marketing needs of organizations by connecting directly with specific groups of clients and/or stakeholders. Marketing and sales have always been interrelated; however, through ABM, sales and marketing work hand in hand to target certain groups, accounts, on a more personal level.
Just like targeting a specific person, ABM aims to target particular accounts that group individuals who have similar interests, goals, and buying patterns. This allows for businesses and marketers to tailor marketing campaigns specifically for these accounts. One of ABM’s top priorities is to generate high-quality leads that can turn into sales. Since last year, about 92% of companies have said they recognize the value in ABM and are planning to invest in technologies and programs to implement ABM into their business plan. When looking for reasons to implement this strategy into your marketing plan, the benefits by far outweigh any reservations you might have.
What Are Some Of The Benefits Of Using ABM?
Like we mentioned before, ABM allows your business to create more personalized and focused marketing campaigns. By targeting a specific account, your chances of obtaining leads increases because you know exactly what they are looking for and you tailor the campaign to suit said interests. ABM done right will:
- Establish more personal and lasting customer relationships. Lets your customers know that you care about their business.
- Create more organic leads. A happy customer is twice as likely to refer your business.
- Allow you to create highly tailored and targeted campaigns. The more specific to the customer’s wants and needs the best chance that it’ll result in a sale.
- Deliver the highest ROI of any B2B marketing strategy or tactic.
- Help you coordinate contact and lead information in a manner that you can manage your marketing towards them.
Taking The Leap Towards ABM
You might ask, “if ain’t broke, why fix it?”. Well, your business model might not be broken but without ABM, it is certainly incomplete and therefore not a threat to your competition. In a business world that seems to keep on multiplying, standing out and being top of mind in the customer’s mind is becoming more and more difficult. There is just too much noise out there. Account-based marketing is all about fortifying relationships with the customers. Therefore, it is something you should really invest time and experience into. For more information on how you can best utilize this tool to your advantage contact us today.