Account-based marketing (ABM) is a strategy that focuses on targeting specific high-value accounts rather than a broader market to generate more qualified leads and ultimately close more deals. ABM is often used in industries where the sales cycle is longer, and the deals are larger, such as enterprise software or consulting services.
In the context of a high-value B2B sale, ABM typically involves:
- Identifying the key decision-makers within the target account
- Developing personalised messaging and content
- Implementing targeted outreach and marketing campaigns to engage those individuals and drive sales.
The ideal approach for implementing an account-based marketing (ABM) strategy can vary depending on the company’s specific goals, resources, and industry. However, in general, a successful ABM approach will typically involve the following steps:
- Identify high-value target accounts: This includes researching and selecting the companies and decision-makers most likely to generate the highest revenue for the business.
- Create personalised messaging and content: Develop tailored messaging and content that addresses the target accounts’ specific pain points and needs and differentiates the company’s products or services from those of its competitors.
- Implement targeted campaigns: Use digital and offline marketing tactics, such as email, social media, webinars, and events, to reach and engage the decision-makers within the target accounts.
- Measure and optimise performance: Use data and analytics to track the effectiveness of the ABM campaigns and adjust the strategy as needed to improve results.
- Align with the sales team: Work with the sales team to ensure that the leads and opportunities generated by ABM are effectively nurtured and closed.
It’s important to remember that ABM is a long-term strategy that requires commitment, resources, and alignment across the organisation.
A good nurturing email program within an account-based marketing (ABM) sale should be tailored to the specific needs and pain points of the target account. It should aim to move the decision-makers within the account closer to a purchase. Here are a few key elements that a good ABM nurturing email program might include:
- Personalised messaging: The emails should be tailored to the specific target account and address the pain points and needs of the decision-makers within that account.
- Relevant content: The emails should include content relevant to the target account, such as case studies, product demos, and white papers.
- Calls to action: The emails should include clear calls to action, such as scheduling a demo, requesting a consultation, or downloading a whitepaper.
- Nurturing schedule: The emails should be sent on a regular schedule, with a defined frequency and cadence. It’s important not to be too aggressive but also not to be too passive.
- Segmentation: The emails should be segmented based on the specific decision-maker or role within the target account and should be customised accordingly.
- Integration with other channels: The email program should be integrated with other ABM channels, such as social media, webinars, and events, to create a cohesive and consistent experience for the target account.
The most important aspect is to target accounts that are a good fit for your solution and that can generate the most value for your business. Some companies consider an ABM strategy for deals larger than £50,000, while others may view deals starting at £100,000 or more depending on the industry and product/service.
Below are some of the platforms that can support your ABM strategy once you have access to the right data:
- Marketing Automation Platforms: These platforms, such as Marketo, Pardot, or Eloqua, provide a suite of tools that help businesses automate and personalise their marketing campaigns across multiple channels, including email, social media, and webinars. They also offer analytics and tracking capabilities to monitor the effectiveness of the campaigns.
- ABM Platforms: Platforms such as Terminus, Engagio, or LeanData, are specialised in account-based marketing and provide various tools for identifying, targeting, and engaging decision-makers within specific accounts across multiple channels, including email, social media, and advertising.
- Sales Engagement Platforms: Platforms such as Outreach, SalesLoft, or ToutApp, provide a suite of tools for sales reps to automate and personalise their communication with prospects and customers across multiple channels, including email, phone, and social media.
- Customer Relationship Management (CRM) Platforms: CRM platforms such as Salesforce, Dynamics or Hubspot provide a centralized place to store and manage customer data and include marketing and sales automation features.
These products vary in features and pricing, so evaluating which fits your business needs and goals is essential. They can help increase your ABM strategy’s efficiency by automating and personalising your communications and targeting the right individuals across multiple channels.
The relevance of the salesperson calling an account in today’s world can vary depending on the industry and target account. On the one hand, phone calls can be an effective way for a salesperson to build a relationship with a decision-maker within a target account and to provide a personal touch that can help to differentiate the company from its competitors. Phone calls can also effectively overcome objections and answer questions that the decision-maker might have. On the other hand, phone calls alone may not be as effective as other tactics for reaching decision-makers. Many companies have implemented gatekeepers to filter calls, making reaching decision-makers increasingly challenging.
It’s important to note that the modern salesperson has to be multi-channel and multi-touch oriented, meaning that they should use a combination of tactics, such as email, social media, webinars and events, to reach and engage decision-makers. Additionally, the salesperson should use data and analytics to track the effectiveness of their efforts and adjust the strategy accordingly. A good strategy is to use phone calls to follow up on previous interactions and close deals rather than relying on them as the primary means of reaching decision-makers.
There are many examples of companies that have used an account-based marketing (ABM) strategy to increase sales, yet the cost and ROI of an ABM program can be difficult to quantify, as it can vary widely depending on the specific tactics used, the level of personalisation, and the size of the target accounts.
Underpinning all the above is access to accurate B2B data records that can be trusted to be GDPR compliant from a company well known for their verification process using a UK Call Centre. Market Location assists many clients with ABM strategies and will be happy to talk you through the steps needed before implementing an ABM strategy.