Demystifying account-based marketing
- Posted on September 21, 2022
- Estimated reading time 2 minutes
The last couple of years with limitations imposed on physical interaction many in person and one to one marketing strategies have become a digital marketing topic. The good thing is that the marketing technology platforms have also evolved to provide simpler and more straight forward means to implementing such concepts digitally.
I was reading through another insights blog from a colleague: Account-based marketing is here to stay. The post explains the benefits, and step by step recommendations on how to plan your ABM strategy. The truth is most marketers recommend account-based marketing as the next best revenue creating stream after nurture strategy (specially in B2B), but just a few are willing to go through the hassle of implementing it!
So, I thought it is time that we have a second look on ABM with the new marketing technology platform possibilities in mind. but before getting into the how let us align our perspectives:
Why should you consider ABM?
Think of ABM as next level segmentation and lead nurturing combined! When set up correctly, ABM enables you to make deeper engagements, more relevant offering and ultimately achieve higher return on investment.
How is it different from lead nurturing?
The objective is different! Account based marketing is all about personalisation and catering to the specific group of qualified decision makers among your leads and contact database. It goes beyond fostering a relationship! ABM or in simple terms key account management is about combining the input from both marketing and sales to identify and target those that have greater impact on your business revenue.
- Smart execution
- Point ZMOT
- Segmentation: You need to have a close look at your segments and identify qualified groups of potential prospects based on their purchase journey and estimate return on investment.
- Personalisation: Data collected from your sales team on customer profiles such as behaviour to previous campaigns and interaction becomes a valuable source to understand interest and needs.
- Smart execution: An oldie but an effective channel is outbound mail for ABM execution. However just like everything these days there is a smart way of implementing it. Consider A/B testing, smart scheduling, and use AI improvements to your benefit.
- Zero moment of truth: Timing is everything! ABM has direct impact on your RIO, but to execute one you need thorough alignment and budgeting to initiate and handle a conversation with your prospects right when and where they need you.
To find out more about ABM tactics and how we can help with yours, contact me or leave a comment below.