Tips For Getting Started With Account-Based Marketing Strategy
Martech Outlook | Wednesday, December 22, 2021
Account-based marketing (ABM) has arrived, and businesses of all sizes must begin developing and implementing ABM strategies immediately or risk losing clients to more savvy competitors.
FREMONT, CA: Today's evolving digital landscape can impact corporate budgets, and marketers are constantly expected to do more with less. As a result, demonstrating return on investment and optimizing efficiency is critical.
Numerous chief marketing officers (CMOs) leverage account-based marketing (ABM) to drive results. ABM can help improve lead quality, streamline sales, and increase customer stickiness, contributing to a higher return on investment.
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ABM is a marketing strategy where marketers create and execute highly targeted marketing campaigns directed at specific companies or accounts. Marketers treat individual accounts as entire markets with ABM, developing customized designs and omnichannel campaigns that address the unique business needs of customer buying groups.
After collaborating with sales reps to identify target accounts and determining who the best research enabler is, organizations are ready to begin developing their ABM strategy. To get started, marketers must follow these steps:
Ensure that the account selection process is formalized: Everything in an ABM strategy is predicated on a thorough and accurate understanding of the accounts and audiences marketers are marketing. ABM requires marketing and sales teams to identify and nurture accounts strategically through customized engagement and support.
To institutionalize the account selection process, marketing teams should create target company personas based on the high-value clients who are most likely to convert or grow. Consider the shared business objectives and values these target accounts share and the significant steps in their purchasing journey that precede purchase.
Marketing and sales teams should collaborate to evaluate existing marketing and communication channels to determine which ones are best suited for recurring personalized outreach, communication, and retargeting.
Marketing leaders should develop a list of planned and executed engagement and nurture tactics over time in collaboration with the sales team and use the checklist to fine-tune their ongoing ABM strategy's outreach and engagement activities.
Collaborate with sales to develop a go-to-market strategy: After developing strong, data-driven target company personas, the next step is to create a pipeline strategy. A strategy based on accounts looks different from a strategy based on leads.
Traditionally, when sales accept a lead from marketing, marketing-led outreach ceases, and the sales team takes over the client engagement process. Successful account engagement requires proactive, ongoing coordination between marketing and sales teams in ABM strategies.
Marketers and sales representatives must collaborate from the first interaction to develop a sophisticated, personalized campaign across multiple channels.
This extended communication allows the marketing team to offer more personalized content as their target customers continue to gather information and seek assistance with their purchases.
Make Infrastructure Investments in ABM: Today's marketing technology tools make it easier to scale hyper-personalization, automate outreach, monitor success metrics, and collaborate with sales. Marketers should identify and configure all of the tools and integrations necessary to manage ABM strategy successfully. Without the appropriate infrastructure in place, they may be unable to realize the benefits of ABM or demonstrate its ROI fully.
ABM enables marketers to deliver the personalized experiences that customers expect today while increasing efficiency, enhancing internal collaboration, and ultimately driving business growth. Marketers differentiate themselves from their competitors by immediately shifting their focus to this customer-centric strategy.
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