Quick Start Guide To Account Based Marketing
May 25, 2016 1:54:25 PM | By Matt Benati
If you follow B2B marketing blogs, you’ve probably noticed the term ‘Account Based Marketing’ or ‘ABM’ has been getting a lot of buzz lately and for good reason. Even though this account-centric approach to sales has been around for a while, the strategy is experiencing a resurgence as marketing teams align with sales teams, focusing their strategies on targeted key accounts and using Account Based Intelligence to personalize messaging, strengthen relationships and broaden reach.
Sound good? Let’s explore what ABM is and how your team can implement best practices and maximize results:
What Is Account Based Marketing?
Account Based Marketing (ABM) focuses marketing and sales resources towards specific accounts. While marketing techniques like inbound marketing tend to generate huge quantities of leads, ABM flips the funnel and shifts the focus to accounts first, leads second. And not just any leads, but the influencers and decision makers within a company who are the ones you should be talking to in order to close a deal.
A single person within an organization rarely makes most major B2B buying decisions today. Instead, there are stakeholders throughout the account, from day-to-day users all the way up to the CFO, who have a say. The trick to a successful ABM strategy is identifying those stakeholders, nurturing a relationship with them, keeping abreast on changes within their organization and ultimately making the sale.
Getting Started With ABM Is Easy:
- Identify your target accounts your best-fit customers.
- Pinpoint the key decision makers and influencers within the account.
- Determine what channels your buyers are actively using (email, mobile, social media, video).
- Segment your leads and create personalized content on those channels. Think about solving a problem, filling a need, and meeting your prospects where they are.
Benefits Of ABM:
- Clear ROI - Targeting specific accounts means tracking the engagement of leads within accounts is easier and clearer.
- Personalized Messaging – According to the Aberdeen Group, 96% of organizations believe that email personalization can improve email marketing performance. Personalized messaging = better engagement = more sales.
- Aligns Sales And Marketing Teams – By allowing teams to focus resources on a defined set of accounts versus generic inbound and outbound marketing to the masses in hopes that someone bites. ABM marketers work closely with sales to identify accounts, map out and implement strategies, and track progress.
Account Based Intelligence Is Essential For ABM Success
Account Based Intelligence (ABI) is the nittygritty within your accounts. It’s penetrating your accounts to learn more details about every lead like:
- More detailed contact information cell phone number, alternate email
- The hierarchy within the organization their role in the company, whether they’re a buyer or user
- When they’re on vacation who’s covering while they’re away? When will they return?
- When they’ve left the company where are they going? Who is replacing them?
Having a pulse on your ABI is critical to the success of your ABM strategy. Even your best efforts at segmentation and personalization are only as good as your account intelligence. Bottom line? Bad data = irrelevant campaigns = low engagement = fewer sales.
Trigger Events: First In Wins!
Trigger events are big changes within your target accounts: like a lead leaving the company. These are crucial because they create multiple opportunities for you to be the first one in as new employees are settling into their role and looking to make vendor changes.
- When a Trigger Event happens, you can gather multiple pieces of ABI like:
- Who replaced your original prospect at your target account?
- From where did this replacement employee come, and who replaced them?
- Where did your original prospect go? (This could result in a new account.)
- Who had that position before your original prospect joined the team?
Automated ABI Solutions Increase ROI
The first step to significantly improving the productivity of your marketing and sales teams is ensuring they can quickly recognize key changes or updates within target accounts using ABI.
An automated ABI solution, like LeadGnome, allows you to:
- Generate 36% more targeted leads*
- Enhance/maintain 72% of your existing leads*
- Increase connect rates – by pinpointing return dates and automatically create followup tasks
- Identify Trigger Events for sales
- Surface optout requests – critical to protecting your brand and maintaining positive online sentiment
* Based on 2 campaigns per month