Recently, I have heard a lot about Account Based Marketing (ABM). This is the latest trend that has attracted a lot of marketing.
Many marketers are known to start to panic. Do they need to rethink their strategy? How can I start a completely new marketing branch when I still have the same budget and staff as last year?
It’s time to stop panic. From my point of view, ABM is a concept, not a technology or methodology, and can be applied to all marketing activities. In addition, ABM is not really a revolution, but an evolution of traditional marketing techniques.
Traditionally, marketing campaigns target different types of people. SEO efforts focus on incorporating specific characters into websites.
An email containing company content was sent to a large number of target contacts. Display banners have been placed on select websites to attract specific types of viewers.
At the same time, the sales team focuses on the counter-organization. They first chose an organization and then tried to identify various stakeholders that might influence the purchase decision.
In theory, these two audiences should be aligned. In fact? A lot of the time, sales, and marketing will be talking to people in two different groups or in ways that are not coordinated with the same people.
However, over the past few years, we have seen the introduction of various technologies to help you more accurately target specific accounts.
Real-time personalization (RTP) can be used to present specific content to specific individuals. Addressing and purchasing programming helps display banners to people with certain characteristics.
For example, LinkedIn is useful for targeting a specific title within a specific organization. Today, it is possible to target marketing in a way that was once targeted for sales, and market-based accounts are only part of this evolutionary path.
Marketing and sales were always supposed to be part of the same process, but now you can make the perfect adjustments.
It’s too easy to do marketing.
The sales department goes to each to do their own thing. Now you need to plan together and run together more than ever before. Account-based marketing follows the same goals as sales and building the road they should follow.
Setting up an account-based marketing strategy
To create an effective account-based marketing strategy, do the following:
The company’s market development strategy ensures that target audiences such as regions, company sizes, industries, and roles are specified.
Set up marketing with sales goals and select a list of target accounts based on your company’s go-to-market strategy.
Align your marketing database with these goals.
Marketing campaigns need to attack the same company, and sales teams to follow. This includes deleting lead that is not part of the target audience.Align the marketing and sales team compensation plans with the company’s business goals.
Coordinate marketing and sales coordination.
This does not mean that they work in parallel, rather than complement each other. Make sure your sales team is aware of their marketing and use campaigns. Always measure campaigns led by marketing and sales teams.
See what works and make changes as needed, without being tied to team loyalty or pride. Creative and stand out. For example, if everyone is emailing, use another and use video instead. It is more personal and has a conversion rate up to 7 times.
Account-based marketing is another step towards more effective marketing. This is a marketing strategy focused on targeting the exact stakeholders that affect the sales cycle.
When ABM is executed correctly, marketing and sales are seamlessly merged into one continuous process. This is the next step in a marketing trajectory that has never been more targeted.