How to Create an Account-Based Marketing Strategies for Novices
How to Create an Account-Based Marketing Strategies for Novices
Written by Sakti Violy Kumar | Illustrations and Layout by Acer Ann Amansec | September 21, 2023
FOCUS: ACCOUNT-BASED MARKETING
Are you ready to take your marketing game to the next level? With the wide array of marketing techniques, there’s one approach that has gained significant traction recently: account-based marketing (ABM). But what is ABM, and why is it all the rage in today’s fast-paced business landscape?
In this article, we’ll explore ABM and present you with nine simple but effective strategies for novices.
But first, let’s understand what it is.
What is Account-Based Marketing (ABM)?
In essence, account-based marketing is a precision-focused marketing approach. Instead of casting a wide net like traditional marketing, Account-Based Marketing hones in on specific high-value accounts. It tailors your efforts to connect intimately with a chosen group of potential customers, just like engaging in a one-on-one conversation rather than raising your voice in a crowded room.
Why is ABM Important These Days?
Personalisation and precision are critical in today’s hyper-competitive business market, and Account-Based Marketing aligns perfectly with this requirement. Here are several compelling reasons why ABM stands out:
• Better ROI: Account-Based Marketing delivers higher returns on investment by concentrating resources where they matter most – on your ideal customers.
• Enhanced Customer Relationships: Account-Based Marketing strengthens your connections with prospects and clients by making interactions more personalised and meaningful.
• Reduced Wastage: Traditional marketing often involves reaching out to uninterested or irrelevant audiences. Account-Based Marketing minimises such wastage by pinpointing the right targets.
• Improved Sales and Marketing Alignment: ABM promotes teamwork between your sales and marketing departments, making sure they join forces to reach shared objectives.
• Enhanced Customer Relationships: ABM leans on data and analytics, which means it uses information and analysis to make smart decisions and improve over time.
Now, let’s dive into our list of helpful Account-Based Marketing strategy for beginners:
• Define Your Ideal Customer Profile (ICP)
Defining your Ideal Customer Profile (ICP) is the bedrock of a successful Account-Based Marketing strategy. This step involves creating a detailed persona of your ideal customer, considering factors such as industry, pain points, and company size. Research by The CX Trends Report underlines the importance of this by revealing that 59% of consumers want businesses to use the data they collect about them to personalise their experience.
• Account Selection
In ABM, choosing the right accounts is a crucial step. Concentrate your efforts on the accounts that have the most potential and match your Ideal Customer Profile (ICP). This focused strategy is incredibly powerful, as shown by a study where companies using ABM saw an astonishing 208% boost in revenue. By pinpointing accounts with a high likelihood of converting, you greatly increase your chances of achieving similar success.
• Content Personalisation
Tailoring your content to fit each account’s unique needs is the heart and soul of Account-Based Marketing . According to research by Salesforce, 73% of customers actually anticipate businesses to do just that—understand their requirements and adapt their messages accordingly. When you customise your content to address the specific challenges faced by each account, you significantly increase your chances of connecting with them in a meaningful way.
• Multi-Channel Engagement
Multi-channel engagement is all about reaping the benefits of various marketing channels to connect with your chosen accounts. Studies have shown that using multiple channels in your marketing campaigns can supercharge your results, increasing purchase rates by 287% compared to sticking with just one channel. To put it simply, this means combining social media, email, personalised web content, and webinars to reach more people and have a greater impact on your audience.
• Relationship Building
Building relationships with key stakeholders within your target accounts is vital. According to a report by ITSMA, 87% of marketers who track their return on investment (ROI) have found that Account-Based Marketing Strategies outperforms other marketing strategies. This highlights how crucial it is to foster relationships to achieve lasting success.
• Measurement and Analytics
You can refine your approach and get better results by keeping an eye on important metrics and adjusting your strategy accordingly. This approach, driven by data, not only keeps you on the right path but also helps you quickly adjust to changes in the market, giving you a competitive advantage in the world of Account-Based Marketing.
• Sales and Marketing Alignment
Recent studies show that when these two groups work together, your company can experience an incredible 208% surge in revenue from your marketing endeavours. Think of it as a turbocharge for your business, underscoring the vital significance of effective collaboration between your sales and marketing teams.
• Retargeting and Nurturing
When prospects don’t immediately turn into customers, it’s time to think about retargeting and nurturing these potential customers. Research shows that when you give leads ongoing attention and content that’s tailored to their needs, they’re more likely to make purchases that are 47% larger than those who don’t receive this special treatment. This highlights just how important it is to stay engaged with potential customers over time, nurturing those relationships for bigger and better results.
• Collaboration and Learning
Make sure to stay in the loop about industry trends and partner with fellow Account-Based Marketing experts. This proactive approach is crucial for expanding your knowledge and building a valuable network to support your ABM endeavours.
Imagine you have these amazing methods at your disposal and are ready to propel your marketing efforts forward. But we get it; everyone needs a hand sometimes, especially when getting started with account-based marketing.
At The Point Company, our team of Account-Based Marketing experts excels at drawing in and vetting potential customers worldwide, with a specific focus on the IT sector. We’re eager to listen to your unique challenges and provide opportunities to tackle them. Together, let’s design a personalised strategy that’ll make your ideal customers come knocking at your digital doorstep.
To get started, simply schedule a meeting with us below:
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