How to Achieve Success with Account-Based Marketing
Organizations today are under pressure to generate more revenue with their marketing efforts. One way to do this is by focusing on account-based marketing (ABM). ABM is a strategy that involves targeting specific accounts with personalized messages and content to generate more business from them.
When done correctly, ABM can be an extremely effective way to boost revenue. In fact, a recent LinkedIn survey found that nearly 80% of brands surveyed said they plan to boost their budget for ABM over the fiscal next year. If you’re looking to get started with ABM or want to ensure your existing efforts are as effective as possible, this article will provide some key tips to help you succeed.
How to Implement Account-Based Marketing Effectively
There’s no one-size-fits-all approach to account-based marketing, but there are certain best practices you can follow to improve your chances of success. Here are four tips to keep in mind as you implement ABM in your organization:
1. Define Your Target Accounts
The first step to successful ABM is identifying the specific accounts you want to target. This may seem like a simple task, but it’s important to consider who your ideal customers are and what kind of organizations would be a good fit for your products or services.
Once you have a list of potential target accounts, you can start researching each one to learn more about their specific needs and pain points. This will help you create targeted messages and content more likely to resonate with them.
2. Create Personalized Messages and Content
As you create messages and content for your target accounts, it’s important to personalize them as much as possible. Generic content that’s not specific to the recipient is less likely to capture their attention.
Instead, focus on creating content tailored to each individual account’s needs. This could include data-driven insights, case studies, or even custom-made videos. The more relevant and valuable your content is, the more likely your target accounts will engage with it.
3. Use Multiple Channels
Don’t rely on a single channel to reach your target accounts. Instead, use a mix of channels to reach them through multiple touchpoints. This could include email, direct mail, online ads, events, etc.
The key is creating a coordinated campaign across all your channels so that your messages are consistent and complementary. This will help you maximize your chances of getting in front of your target accounts and generating new business.
4. Measure Your Results
Finally, measuring the results of your account-based marketing efforts is important to learn what’s working and make improvements as needed. There are several different metrics you can track, but some key ones to focus on include:
- Reach (how many contacts at each account were exposed to your messages)
- Engagement (how many contacts interacted with your content), and
- Conversion (how many contacts became customers).
By tracking these metrics, you’ll see which accounts are most responsive to your ABM efforts and adjust your strategy accordingly.
The Benefits of Account-Based Marketing
The effectiveness of account-based marketing has been proven time and time again. But what exactly are the benefits of ABM? Here are four key benefits that make it an essential strategy for modern marketers:
- Increased ROI: Because ABM is a more targeted approach, it can result in a higher return on investment than other marketing strategies.
- Improved relationships with key accounts: You can build stronger relationships with them by personalizing your messages and content for specific accounts.
- Greater efficiency: ABM can be more efficient than other marketing approaches because you are not wasting time and resources on accounts that are not a good fit for your products or services.
- Increased visibility: An ABM approach can help you increase your visibility within key accounts, leading to more business opportunities.
Conclusion
If done correctly, account-based marketing can be an extremely effective way to boost many of your brand’s metrics and create lasting relationships with your target accounts. If any of these actions seem out of reach, hiring a digital marketing agency like Promofuzz can help achieve success for your brand without all the upfront work. Keep the tips in this article in mind as you implement ABM in your organization, and you’ll be well on your way to success.