1. What is ABM or Account Based Marketing ?
ABM or account-based marketing is a type of marketing strategy where we focus on specific accounts, allowing us to address the needs of each client individually , instead of trying to sell to a broad and diverse audience.
“Around 70% of B2B companies have dedicated part of their resources to developing programs based on Account Based Marketing .”
To better understand it, we must explain that it is a strategy that combines content, technology and commercial actions with the aim of making our products or services known to a high-value audience or highly defined segments of a commercial audience.
abm personalized marketing
Keep in mind that this is a high-cost and highly-customized strategy. Therefore, uae email list your product or service must also have a high price to obtain a positive return on investment. Below we tell you when it would be interesting to start an Account-Based Marketing campaign .
2. When to implement an ABM strategy?
ABM strategies are expensive due to the need for personalization , as it helps you work and communicate with high-value potential customers , as if they were individual markets. Therefore, your product or service must also have a high price, in order to obtain a positive return on investment.
An ABM marketing strategy is interesting for you if:
You are a B2B company. Sales processes in B2B companies are usually longer and more expensive. In this sense, an ABM strategy is key to attracting new customers.
Your Ideal Client Profile (ICP) is a very specific type of company or belongs to a specific niche. In these cases, an ABM strategy is ideal because it is highly personalized.
Your customers' lifetime value is high. How much revenue does an average customer generate for you? If the figure exceeds €15K on average, we can consider an ABM strategy. First, learn how to calculate your customer lifetime value.
Different decision-makers are involved in the purchasing cycle. If, in order for a client company to purchase one of your products or services, the decision must go through several interlocutors, you are interested in an account-based approach. In ABM, a sales strategy can be generated at different levels (management, operations, finance, etc.).
Smarketing: sales and marketing working together. Taking sales to the next level requires the aligned work of both departments. An ABM strategy takes this factor into account.
3. B2B ABM Objectives
When starting an Account-Based Marketing or ABM campaign, it is important to be clear about the objective of this type of strategy.
More broadly, the goal of B2B ABM is to energize and consolidate relationships with potential customers , accelerating a business's conversion processes. In other words, it is about capturing customers in a precise manner and generating long-lasting relationships.
B2B ABM marketing
To achieve its objective, ABM combines the areas of marketing and sales working together to produce and deliver unique and personalized quality content , while designing messages tailored to client companies.
Otherwise, driving sales might be the main goal of an ABM strategy. Companies report higher sales thanks to Account Based Marketing . Let me explain why.
In contrast to a “fishing” strategy such as Inbound Marketing , ABM allows us to go looking for our clients with a harpoon. Therefore, the first step is to create a pilot list.
Read more: Account Based Marketing how to do a pilot experience
4. How to implement an ABM strategy?
Account -based marketing aims to maximize the number of leads and improve conversion at each stage of the sales funnel.
Below we tell you the phases you must follow to start designing a B2B ABM marketing campaign :
Identify who you are addressing
Shooting in the dark is never successful, so you need to know who your Ideal Client Profile or ideal client companies are. Once you identify those specific accounts, it is important to prioritize the high-value ones based on revenue potential, as well as other key factors such as market influence and purchasing potential. This will allow us to focus our efforts on sales.
Understand your target accounts
Once you have identified your target companies , you will need to find out more about them, their pain points and the topics of interest that motivate them. This can be achieved by researching their internal structures, taking a closer look at the elements that influence key decision makers and key influencers.
Once you are familiar with the main information related to your target accounts, you will be able to segment them in the way you would with a persona-based marketing strategy that allows you to reach multiple stakeholders.
Define and personalize your content
A truly successful ABM campaign employs valuable content that focuses on particular business challenges that ICPs face on a regular basis. Define your content with the insights gained from the analysis in the previous step in mind. Make your messages help them with their personal challenges by ensuring they are trustworthy, informative, and authoritative.
In this way, we will improve our customers' experience in the sales process. Thanks to this, customers will feel more comfortable and sales will be closed more easily.
Choose relevant channels
To ensure that your target accounts are truly engaged with your core message, it is important to make good use of and leverage channels, including mobile, social media, and online channels, among others. Make sure you are communicating with your ICPs on the right platform to ensure the success of your ABM strategy.
If you still have questions about ABM marketing, we invite you to download this practical guide to get started with this strategy.
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Empower your sales team
By aligning the marketing department with the sales department, the latter will be aware of its role in the strategy and will be able to eliminate friction in the sales process with its customers. In addition, they are fully informed of the results of their work.
Measure your results
Once your ABM strategy is in full swing, it’s vital to measure all marketing activity. Spend time learning which channels and content produce the best results, and adapt your campaign to ensure you’re putting your resources into the right strategies.
Most companies are increasingly making greater efforts to attract customers. According to the American Management Association , 68% of customers abandon a business relationship because of poor service . 90% of lost customers do not even try to contact the company to explain why they abandoned the relationship.