Account-based marketing (ABM) is a strategy in which a brand targets valuable accounts and provides each of them with a personalized experience. It helps ensure smooth communication with high-value target accounts, personalize buyer journey, deliver a customized message, drive ROI, and customer loyalty.
In this article, we’ll unveil the importance, advantages, types, and examples of account-based marketing and figure out how to implement such campaigns. Next, we’ll explore the difference between account-based and traditional marketing.
Why is account-based marketing important?
According to statistics, around 70% of marketers implemented ABM in 2021. It’s a highly targeted approach that focuses on meeting the needs of valuable accounts (clients with the potential to bring big profit to a business). The strategy is popular in the B2B environment. Since business-to-business companies sell large to well-established businesses, the process is effort-consuming. Account-based marketing helps keep the process under control and make it more targeted and personalized. It ensures the close-knit work of sales and marketing teams to bring relevant content, tailored product information, and customized campaigns to high-value accounts.
A seamless experience is a key to deal success. In business-to-business communication, it’s a must. To approach large accounts, account-based marketing offers companies to make use of personalized messaging, relevant email campaigns and offers. Besides, it allows entrepreneurs to track and measure the efforts they invest in specific accounts and the ROI they get in return.
One more benefit of this targeted strategy is the optimization of the sales cycle. With its help, companies focus their efforts on highly valuable accounts. As a result, businesses stay efficient. Entrepreneurs save time and money and pay attention to the stages of the cycle. This approach helps avoid unqualified leads and start building relationships with ideal customers.
The reasons to implement the strategy are clear now, so it’s time to jump into the benefits.
Benefits of Account-Based Marketing
ABM is gaining popularity among B2B companies since it helps establish an excellent reputation, strong relationship with each customer, and boost revenue. Although there are many great strategies for business-to-business marketing out there, companies still choose account-based marketing. Why? It brings real results:
- close-knit work of sales and marketing teams;
- smooth sales cycle;
- personalized messaging;
- high ROI;
- efficient use of resources;
- trusting relationships with customers;
- qualified accounts;
- sales cycle optimization;
- consistent customer experiences;
- relevant content;
- seamless communication.
Now that you know the benefits your business can reap, let’s proceed to the next section to unveil the types.
Types of Account-Based Marketing
Companies have hands-on experience in using the three types of account-based marketing. Let’s have a closer look at each of them.
- Strategic for individual accounts. This type is used for highly valued accounts and is implemented one-to-one. The company’s sales and marketing teams find unique approaches to establish strong relationships with clients and prospects. To reach these customers and develop strong connections, marketers create highly targeted communication. This way, they show that they understand clients’ problems and are ready to solve them. Besides, there’s a representative from the company who works with a customer. Marketers create a unique value proposition and personalized marketing campaigns for every customer, targeted communication, and initiatives to strengthen relationships.
- Lite for groups of accounts. This type is suitable for groups of strategic accounts and works on a one-to-few basis. It helps enlarge the success received with strategic account-based marketing or switch to a customized way to reach accounts. When implementing this type of ABM, companies approach groups of accounts consisting of 5-10 clients. Marketers cooperate with the sales department to make decisions on the target accounts, challenges, and initiatives. Technology plays a great role in lite ABM. It helps automate the creation of campaigns, the account insights process, and reporting.
- Programmatic for many strategic accounts. This new type supports upselling, cross-selling, and customer success. The approach relies on technology and tools like social listening, reverse-IP recognition, and cookies. It has a wide coverage, so a marketer can manage more accounts. With its help, brands can reach specific audience segments or certain groups of accounts. There can be hundreds of them.
Now that you know the types, it’ll be easier for you to decide which of them suits your business purpose. In the next section, we’ll review the difference between account-based marketing and traditional marketing to avoid any confusion that might arise when you hear these two terms.
Account-Based Marketing vs Traditional Marketing
All the confusion around account-based and traditional marketing encouraged us to explain the key difference. This comparison will help you navigate the two marketing approaches and determine which one is more suitable for achieving your main goal.
Account-based marketing is a strategy based on one-to-one communication with customers. Sales and marketing departments work in hand to provide highly targeted accounts with personalized experiences. In ABM, teams work on ensuring relevant content and offers. Unlike traditional marketing, marketers who implement ABM don’t strive to reach as many customers as possible. They focus on the individual needs of each prospect, address them, and solve their issues one-to-one. The first thing the company’s team does is the identification of target companies. Then, marketers develop personalized campaigns to provide each customer with a unique proposition.
Traditional marketing is a marketing approach that focuses on lead generation. With this strategy, marketers try to capture as many prospects and customers as possible. They do it through different channels. Blog articles, guest blogging, link building, ads are the necessary tools to reach a wide audience. In traditional marketing, brands ask users who land on their sites to fill in the subscription form. After, companies send them automated email campaigns with the news. All subscribers receive the same message.
Now when the difference is finally clear, let’s unveil how to leverage the ABM strategy for your business.
How to implement an account-based marketing strategy?
The facts above prove that ABM is beneficial for deals with long sales cycles. If you’ve already decided that this strategic approach is a perfect fit for your company, then let’s find out how to do it.
- Single out the highly valuable accounts you want to target. Valuable accounts bring the most of the profit to the company so you need to provide excellent service. Focus on the key accounts and their needs.
- Research each of the target accounts. To implement ABM successfully, make sure to capture the pain points and needs of each customer. Also, identify the stage in the buyer journey for each account.
- Create personalized campaigns. Once you learn about each potential customer in detail, it’s time to create content that will hook the attention of our target accounts. Develop personalized campaigns that will resonate with the needs of each of your key accounts.
- Launch your customized campaigns. If the content you’ve created for each account is ready, you can run your campaigns. Strive to solve customers’ issues and provide consistent experiences.
- Evaluate the success of your campaigns. Use analytics to see the performance of each campaign. It will give you insights into your strategy. Analyze the provided data to figure out what should and shouldn’t be done in the following campaigns..
You are fully aware of the process and can start implementing the strategy, yet you still need to review some examples. Perhaps they will inspire you to get started with ABM right away.
Examples of Account-Based Marketing Campaigns
ABM is a process that starts with identifying segments and developing personalized experiences for them. To reach each account, a company can employ plenty of ways and channels.
Reaching potential customers via the internet is a must for every company. Since more and more people use online shopping, be ready to provide them with a consistent experience online. PPC ads and sponsored content are in trend now. Companies use social media to reach their key customers. Facebook and LinkedIn are extremely popular as platforms that help manage businesses. With their help, you can reach out to your target accounts. IP targeting and retargeting enable you to drive interest in your key accounts.
4 billion email users make email marketing one of the most effective communication channels. Email marketing is a valuable source of customer acquisition. Companies use different platforms to schedule the email send-out and deliver the necessary content to their subscribers. To do it, make use of personalization, segmentation, and filters. SendPulse simplifies your task. Its bulk email service allows you to personalize your emails and craft them based on customers’ needs and preferences.
Webinars are events brands conduct online and are in high demand among online audiences. You can use them to provide high-value accounts with unique solutions to their problems. The goal of each webinar is to provide a solution to problems. Companies tailor the message and content based on the information about the accounts.
In a nutshell, account-based marketing is gaining popularity because of the benefits it brings to companies. Keeping in mind all the principles of this approach will help you successfully go through the long sales cycle of your B2B deals and close them.
- This article covers the definition of ABM and the problems it can solve.
- In this article, you’ll find examples of account-based marketing campaigns.
- This article unveiled the difference between ABM and traditional marketing.
Last Updated: 22.08.2022