Business-to-business (B2B) marketing leaders are turning to (Account-based Marketing) ABM strategies to scale their investments. This does seem like a great idea, which perfectly complements traditional and short-term marketing goals. It only means that sellers are directly targeting best-fit accounts. But without a solid foundation, growth strategies could be interrupted. This is why ABMs must be supported by Digital Inbound Marketing to provide your audience with organic and authentic information they are seeking.
Basics and Definition of Account-based Marketing
Marketing resources are directed to engage with a specific set of accounts, weeding out less-valuable companies early in the selling process. Marketing and sales collaborate to create buying experiences for these mutually identified accounts, thus working in complete alignment. The team directly leaps into these critical processes delighting the accounts better and faster. Investing in ABM strategies comes with myriad benefits – one of the primaries being – securing top prospects and retaining your top customers. High-value areas are identified where marketing can drive revenue even in volatile market conditions. Your business works and communicates with these high-grade accounts as if they are individualised markets. This way, the customer’s journey is personalised, through tailored communications, content and campaigns.
ABMs are rationalised efforts to drive revenue, especially with your 2020 plans becoming obsolete.
Maximising ROIs through cross-functional engagements
Meeting the needs of an increasingly digital purchase audience is a great way to deliver customised programmes with the highest potential value. Before you begin, first, align your marketing and corporate strategies and find areas where you can improve your investment mix. Thereafter, incremental investments should be mapped, after you have discovered the heave. For this, first identify your company’s strengths and gaps through a comprehensive SWOT, taking into account all the internal and external factors, especially closely monitoring customer complaints. Then, match your business with the competitors and take your results to an expert advisory board that provides you with an up-close and impartial look at your business.
Corporality believes that no two companies are alike. We discuss all your challenges and strengths at the executive level to provide you with unbiased advice thus refining your company’s strategies and turning your weaknesses into strengths.
Your ABM strategies can now be delineated across, identifying contacts and accounts, filtering priorities, developing content for a specific account and executing the programs. Measure the success and optimise your strategies according to the projected objectives.
Ideal ABM strategies:
- Recognise the account
- Highlight preferred accounts
- Develop the cluster
- Implement relevant programs
- Measure the success
Reasons to apply digital marketing along with ABM
Some of the strongest partnerships are of forces, when paired, have the power to take your business to the next level. As mentioned before, ABMs are highly-targeted strategies and digital inbound marketing is a gradual growth methodology that attracts customers through the power of content search engine optimisation (SEO) and delightful customer experiences. It organically improves audience attention and conversions, while providing them with information that they want to visualise. Twinned with efficient resource allocation, for handling high-value accounts, inbound marketing lays the foundation for an ABM strategy that is targeted at 100% customer retention.
Attract target accounts with inbound marketing and then use ABM to accelerate your efforts. As you provide remarkable customer experiences, you grow better.
Engage a broader group of prospects when you use a combined approach and grab opportunities that you might have missed in the past. Create and use content that satisfies both ABM and digital inbound marketing criteria. For instance, create a personalised case study for a high-value client, which can also be used for digital marketing purposes on the website. This way, the value of your content is doubled down. Newer growth strategies are defined by customer retention. Therefore, building loyalty through reassurance and reflection is highly imperative in volatile market conditions.
With ABM and inbound digital marketing, you must be able to demonstrate a clear value to prospective customers. When you identify the target audience, you must provide approachability in the form of selective responses that address the current needs of your consumer.
Benefits of ABM
There are some definable benefits of Account-based Marketing, which positively impact all businesses. Ideally, as long as the focus is on high-value accounts, ABM can work for B2B organisations of any size. Sales teams have always used an account-based approach, and ABM complements exactly that. ABM is a win-win situation for both sales and marketing.
Aligned sales and marketing
Organisations can improve communications and cross-team collaboration and ensure that the sales and marketing teams are working towards the same goals. Along with these, all customer interactions, content, and communications should also be aligned so that whenever resources change, the newer ones can easily pick up where the others seem to have left. This way customer experience is seamless and delightful and boosts loyalty.
Maximising business relevance
With ABM, you can personalise everything from content to communication, to product information and campaigns. The relevance of your services is maximised when you tailor your interactions to reflect the specificity of the products, their use and offerings. You can position your business in such a way that the most relevant and ideal options are reserved for your high-value target accounts.
Consistency in Customer Experiences
Even if your ABM strategies are remarkable, to maintain a long-term sense of delight, a consistent experience is imperative – and a great driver of success. The ABM process can last several months or years, which also means you must make your accounts feel as if they are doing business with a single market area. Working on customer experiences for several years together can seem like a daunting exercise. But if you were to analyse the ABM process, it actually encourages the strategy. Marketing and sales together will be able to deliver the feeling of consistency when there is a universal understanding of the unique needs of the account such as budgets, goals, buying committee and much more.
Streamlined sales cycles
Typical sales cycles depending upon the resources, nature of business and industry are enabled like this:
ABM streamlines your sales cycle by targeting high-value accounts, thus saving time and resources while positively impacting your bottom line.
Streamlined ABM sales cycles help you stay efficient and inhibit experimentation with different techniques to qualify a large pool of leads. When ideal accounts are identified, you can quickly deep dive and build relationships.
To expand your business through high-value account relationships, speak to Corporality Global for personalised, consistent customer experience while positively inciting loyalty.