In order to maximize their results, companies are often tempted to create generic messages for a large number of prospects. Yet, paradoxically, more than 80% of B2B experts agree that this is not the best strategy to acquire customers. Indeed, opting for Account Based Marketing (ABM ) allows you to better leverage your overall marketing efforts.
What exactly is ABM (Account Based Marketing)?
Strategic account marketing is a business marketing strategy that focuses resources on a set of target accounts within a market. In concrete terms, this means running personalized campaigns whose goal is to engage each account.
Messages that match the prospect and his needs
These highly targeted, customized marketing programs and initiatives are designed to drive growth and impact with specific, named accounts. Thus, marketing messages must consider the specific attributes and needs of the account.
These messages should be tailored directly to the target account, with content that is relevant and valuable to them. The goal is to engage customers and move them along the buyer’s journey toward a defined goal.
Reach your target audience every time
In ABM, marketers identify target accounts and personalize the marketing and experience. In this process, they sometimes need to get help from the sales team. Approaching prospects with high conversion potential then allows the salesperson to reach his or her core target every time.
In this sense, strategic account marketing expands marketing’s involvement in the sales funnel while shortening the sales process. The process can be long and complex, but it has many advantages, which will be listed below.
What are the advantages of Account Based Marketing (ABM)?
There are 6 main advantages of opting for an Account Based Marketing strategy.
1. A personalized marketing approach
ABM allows you to approach key contacts of target accounts through a personalized approach. This will make your prospect feel valued. You can use empathy marketing to show them that you understand their problems and can provide a solution. With this in mind, you need to create relevant content from the information at your disposal. This content should be delivered to the customer at the right time and place. Keep in mind that the goal is to build the foundation for a strong relationship between you and your target account.
2. Build and maintain relationships
Strategic account marketing allows you to establish a relationship of trust with your future client. As this trust is built and the relationship is nurtured, you will learn about your prospects’ behaviors. You will then be able to react quickly to their signals. They will likely turn to you for expert advice on the problems they are experiencing.
3. Quick decision making and shorter sales cycles
Traditionally, the decision-making process can take a long time to complete. This is especially true for major purchasing decisions that involve multiple stakeholders. The downside of this slowness is that it slows down the sales process, as it starts at a lower level of the organization and moves slowly toward the senior decision maker. With ABM, however, the cycle time is shortened because all prospects are fed simultaneously.
The ABM has the advantage of accelerating this process. Because of the relationship and trust you’ve been able to build, you can walk your prospect through the buyer’s journey faster than usual. The point is that you have a more direct line into the decision-making process.
4. A better return on investment
ABM involves a direct marketing with the most engaged target accounts. This allows you to quickly eliminate unqualified leads. This minimizes time loss, saves costs and reduces risks. According to Altera Group, 97% of companies using an ABM approach have seen higher returns on investment than any other marketing strategy.
5- Less wasted resources
This approach also allows for better optimization of resources. This is because they are concentrated on a small number of accounts that are most likely to close sales.
6- Better monitoring of results
Account-based marketing is accurate and measurable. Plus, there are far fewer metrics to track in your ABM efforts compared to other B2B tactics. Because you set specific goals for specific accounts, you can almost instantly recognize if your efforts have paid off. By measuring your results, you will be able to easily identify your successes and failures. You can then continue your campaign while refining your strategy.
Using dynamic ABM with Magileads
Note that Magileads’ SaaS solution allows you to use dynamic ABM during your marketing campaign. For this purpose, you have dedicated functionalities for :
Identify companies and know who you want to target (specific accounts).
Create personalized content and campaigns by function within the company.
Test several different phrases on a function in the company
Once you have found a gateway to communicate with a contact in these accounts, you can maintain the relationship with the contact to gain their trust.