18 Feb 2021
How Account-Based Marketing Can Enhance B2b Sales Strategy?
Yeah, you guessed it right, it builds exponential value for business. The year 2020, witnessed a rapidly evolving marketplace, giving marketers a lot on the table to create a strategic methodology for a successful marketing campaign.
And this can be done with a streamlined sales and marketing process via ABM.
ABM makes sales and marketing sing in tune!
There has been enough written of the misalignment of sales and marketing. Sales are from Venus and Marketing is from Mars! And ABM is here to bridge that gap and it changes everything while winning, growing, and retaining the most important accounts.
A quick word; what is ABM- account-based marketing?
Account-based marketing is a focused approach to B2B marketing in which marketing and sales teams work together to target best-fit accounts and turn them into customers.
TBH, account-based marketing is actually an individualized, account-specific B2B marketing strategy. This comes into existence with a combination of coordinated efforts of marketing and sales teams. It first identifies the best high-value accounts to be targeted, further, it develops a customized strategy for each account.
Is there any benefit to use ABM?
Well, this is the million-dollar question, as to why should a business proceed ahead with ABM? So you should know that marketing campaigns are typically targeted to a market segment or any sub-segment. Every type of marketing has only one aim to capture a large number of customers’ attention and turn into leads.
This is where account-based marketing comes to the rescue as it is hyper-focused on a set of carefully selected high-value accounts. It can be utilized for new accounts as well as expand business with existing customers. Further, ABM supports the time and cost constraints that cause maximum stress for any business to kick start the marketing initiative.
Below we have compiled a list of benefits that are associated with ABM.
The digital era we live in needs personalized treatment, and this is where ABM offers full support. It lets the marketers offer completely personalized messaging for specific accounts. And helps in designing the perfect piece of marketing campaign based on potential customers’ individual needs.
Sales and marketing come together
To have a clear and effective B2B Marketing & Sales in 2021, the alignment of both segments is essential. With ABM your marketing and sales team can work together in identifying key accounts, and building customized campaigns for accounts, so the individual accounts can be directed through the sales pipeline.
Shorter and Quicker Sales
Every business wants to expedite the sales pipeline, but there are many stages available that need to be addressed. And this is where ABM steps in and makes this process simple and shorter to attain the results quickly.
Yeah, that is the most valuable part of this strategy, and dictates ABM is measurable and precise, and it offers the highest return on investment. It is the right choice for measuring ROI with efficient returns with ABM.
Ways to implement account-based marketing
Step 1- Identify High-Value Target Accounts
This is the very first step that consists of identifying existing accounts that you want to expand, accounts you have previously engaged with, and new accounts.
Step 2- Map Individuals to Accounts
On selecting the accounts to be targeted, the next big thing is to identify key influencers and decision-makers within each account. So you can build a strategy to engage them on both an individual and a group basis.
Step 3- Identify and Target Best Marketing Channels
An effective ABM campaign revolves around a multi-channel strategy. Hence, you need to figure out what works best for your campaign and how it can drive an efficient result out of it.
Step 4- Measure, Learn, and Test ABM Campaigns
You cannot simply sleep on the campaign, but need to keep a strong check on its scalability and how is it performing. You need to measure the result and learn from the drawbacks, so next time no mistake can happen. For any marketing campaign, measuring success (and ROI), learning what went wrong or right, are some of the proven ingredients of success.
The Bottom Line
Marketing is no longer a one-way street, and ABM helps you achieve your goal with precision.
With the integration of ABM strategy, businesses can improve marketing ROI, drive attributed revenue, generate more conversions and qualified leads, and align sales with marketing.
Excited to know how to get started with ABM in your organization?
Get in touch with our team of experts to help you drive an engaging dialogue with your targeted customers with a niche approach.