Account Based Marketing (ABM) Campaigns
Account Based Marketing (ABM) campaigns are gaining popularity among B2B organizations. A growing number of B2B organizations have now embraced this approach as opposed to other traditional marketing models and lead generation techniques. In simple terms, Account Based Marketing (ABM) flips the marketing funnel over by treating each customer as a market of one. Instead of trying to reach as many people as possible, Account Based Marketing (ABM) simply focuses on targeting only those specific accounts that have the greatest potential to be customers. With the power of being able to establish stronger customer relationships with a higher retention rate, a great number of B2B organization are now starting to see the potential and value of using Account Based Marketing (ABM) and shifting towards this model. Account Based Marketing Campaigns are, therefore, very important to any B2B organization. Here are a few more reasons why:
1. Personalized/ Customized Communication:
Account Based Marketing (ABM) campaigns provide B2B organizations with the chance to partner with their sales team and do one-on-one collaborations to identify and narrow-down their target audience. This target audience mostly includes companies that show more promise and opportunity of doing business.
Once the target audience has been identified, it becomes mandatory for the sales team, working under the ABM campaigns, to adopt a personalized approach towards communicating with these potential customers. Personalized content generation requires that the key decision makers within the B2B organization work closely with the sales team so as to approach the target audience with a properly informed strategy.
Consider B2B email marketing, for example. Most marketing emails begin with the following words: “Dear Potential Customer” – a clinched line that has been over-used way too much to be of any value to a potential customer. A sales team’s job is to collaborate with the decision makers in the marketing team to come up with new and creative ways to personalize as well as properly customize the message for each specific customer by gathering relevant information that would spark their interest and engage their attention and interest. Finely tuning the content to such a great extent requires that all teams collaborating within the B2B organization have, at least an intermediate, knowledge of SEO and content marketing.
When potential customers have been identified, it becomes crucial to develop content that would engage the audience and keep them coming for more. One way to do that is through studying the lifestyle of the people you are trying to reach. B2B organizations use a similar approach, they study each individual identified during lead generation and use targeted gated and ungated content and ads as well as a personalized site experience to convert them to loyal customers.
2. Effective Use of Marketing Resources:
Traditional marketing techniques lack structure because the marketing team has to target a large generic audience by expending important resources like time, energy and investment. They have to do this without any promise of the development of lasting relationships with potential customers or steady revenue growth in the long run.
With Account Based Marketing, B2B organizations can achieve marketing automation by focusing on a handful of potential customers and using targeted content for long-term demand generation. Not only can B2B organizations save time by only targeting key accounts, but they can also achieve streamlined communication between sales and marketing departments which significantly improves the operations of an organization overall.
Interestingly, achieving B2B marketing automation can pay off in the long run through just a one-time effort. Once the lead generation process is complete, a B2B organization does not need to invest the same amount of time and energy to identify key accounts all over again, they can simply move on and start focusing on content marketing and SEO to attract these potential clients.
After this one-time effort, most of the focus automatically shifts towards the creation of content, instead of identification of people to target from scratch every time. Targeting key account also has a greater potential for revenue generation since the likelihood of customers investing in your brand is higher because their interests is aligned with your brand values. So the investment of time, energy and money by the organization has a higher chance of paying off.
3. Higher ROI:
Like with any other marketing strategy, Account Based Marketing (ABM) measures growth and investment returns as well as the overall effectiveness of the programs being used to target the selected audience. B2B organizations receive a higher ROI when using Account Based Marketing (ABM) technique.
Through running reports on each stage of the sales funnel, the marketing team can track the success of their program and share the insight gained from this report with the sales team. There’s a famous line in the business world that goes, “work smarter, not harder”. With Account Based Marketing (ABM) it’s no different. This marketing strategy simply ensures that the organization only invests time and energy into those pre-selected accounts that are likely to show interest thereby improving the chance of an investment being made back into the business.
Through measuring whether the marketing programs are reaching the target accounts and turning them into customers, a B2B organization ensures that it has a clear idea of whether the marketing strategies are actually producing positive outcomes or not. Various software has emerged over the years that allow for real-time tracking of revenue growth. With Account Based Marketing (ABM), B2B organizations can gain insight into which specific tactics or strategies are actually bringing in the most revenue and invest more in those specific techniques to get even better results the next time. For example, an email marketing campaign might be bringing in more growth than say a targeted ad being displayed on the organization’s website every time they visit the site.
Saying Account Based Marketing (ABM) has revolutionized the way that B2B organizations operate, would be an understatement. Account Based Marketing (ABM) improves the overall efficiency of a business as it requires less investment of time, energy and money while ensuring a great revenue output. Account Based Marketing, therefore, is highly relevant to B2B organizations and superior to traditional marketing strategies since the return on investment is far greater.