In a modern digital marketplace where there appears to be a seemingly endless variety of marketing methods it can be difficult to find a strategy that best applies to you. For example, what on earth is ‘account-based’ marketing? And is it a strategy that is valuable in the B2B arena? Let’s find out!
What is account-based marketing?
Account-based marketing (or ABM) is a business to business marketing strategy that unites the sales and marketing teams in an effort to deliver highly refined, targeted advertising—including personalised content—to specific, high-value accounts.
In other words, rather than create a blanket marketing approach to attract a wider audience, you dial-in your messaging and create a unique content marketing strategy to reel in one very specific client or set of clients.
What are the different types of ABM?
When choosing targeted accounts, there are a number of factors to consider. One such important factor is your ideal customer profile (or ICP).
Your ICP can be identified using various machine learning tools that rely on predictive analytics to determine whether or not an account is an ideal fit for the products or services that you offer. You will also need to consider industry, business size, annual revenue, budget, location, and so on.
All in all, it’s about determining the overall lifetime value of a prospective account and then going after the “whales”.
Once you know which account/s to go after, you must decide on one of three ABM types:
● 1 to 1: develop and deliver highly targeted programmes for each specific account you wish to attract.
● 1 to few: develop and deliver a less targeted programme for a cluster of different accounts that share similar business attributes.
● 1 to many: using machine learning and automation to send highly refined and personalised messaging to a multitude of different accounts at high volumes.
What are the benefits of ABM?
So, what are the benefits of taking an ABM approach to your marketing?
● Alignment of sales and marketing department.
● Maximising your relevance to the most high-value accounts.
● Deliver consistent customer experiences that are tailored to each individual.
● You can easily measure your ROI.
● Streamline the sales cycle significantly.
● Expand your business through highly beneficial account relationships.
● Attract the most high-value clients.
Final thoughts
AMB is particularly handy if you are tired of attracting low-value clients who always try to skimp on their budgeting. If you wish to move away from the proverbial ‘bottom feeders’ and start hooking high-value ‘whales’ that can help your business grow tremendously, an ABM approach is almost certainly worth your consideration.
For example, it can be frustrating as an SEO agency when you frequently attract clients who expect world-class results for the cheapest possible prices. However, using an ABM approach, they can target businesses that have a much bigger budget to spare and are serious about investing a lot of money with the right agency with a reputation for delivering superior results.
We hope this article has been insightful and wish you well with your future marketing endeavours.
No comments:
Post a Comment