Enhanced ABM

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Enhanced ABM is an approach that involves B2B marketing teams working together to target perfect customers. Nowadays, marketing is a battle for potential customers’ attention over the abundance of information. Therefore, companies who are looking for the highest ROI must focus on high-value accounts while keeping logo penetration, marketing penetration, and account penetration in mind. Sales and marketing teams must coordinate their efforts to identify, engage with, and close deals with the highest-value accounts that matter.

Businesses in the B2B sector would focus on acquiring a considerable number of customers in a traditional marketing funnel. ABM promotes sales and marketing alignment by providing accurate customer information at various stages of the buying cycle, thus improving conversions by allowing them to pursue leads based on their exact location in that cycle. ABM is useful to B2B organizations who wish to achieve better conversion rates by separating good leads from bad leads.

Prior to the implementation of ABM, data mining customers’ data was a tedious and time-intensive task done manually? With ABM, the entire process is automated and sales and marketing messages are optimized at named accounts using marketing automation technology paired with customer relationship management (CRM) software. ABM adoption is set to go up in the coming years as more companies become aware of its benefits. The advent of ABM is gradually becoming the salvation for B2B marketers who are losing the battle against unqualified leads and wasted resources as a consequence of outdated marketing tools.

 

 

Features of ABM

Targeting, engagement, and measuring comprise account-based marketing. Your marketing team will be successful if you make these aspects the foundation of your program.

  • Finding profitable accounts on ABM: Find the accounts that are worth your time and yield the highest return through technology. Instead of managing accounts and lists between different apps, you can centrally target and manage them. You should target accounts that meet high yield, product fit, quick wins, strategic importance, and competitive landscape.
  • Multi-channel campaigns: Use a single platform to manage your marketing campaigns across different channels, rather than managing each separately. An account-based marketing solution brings the channels together so that you can deliver cross-channel campaigns that are informed and comprehensive.
  • Optimizing your ABM strategy: You need to demonstrate your success over time. Find a solution that allows you to create dashboards that provide revenue-based account analytics that can be applied to specific accounts, programs, and targets.

Return on investment of lead generation

Lead Generation Programs can generate high return-on-investment if they determine qualified leads and allow them to move along the sales funnel at their own pace.

  • The role of ABM in driving ROI can hardly be overstated. It is believed that 97% of marketers have achieved greater ROI with the use of ABM versus any other marketing strategy.
  • Compared to other marketing efforts, ABM is superior. A recent survey found that 84% of marketers view account-based marketing strategies as outperforming other marketing strategies.
  • ABM results in higher revenue for the organization. The revenue generated by marketing is 208% higher in companies with their marketing and sales teams aligned.

Make your account-based marketing strategy work for you.

Choosing a list of high-value accounts is the foundation of a successful ABM program. You can work together with your marketing and sales teams to deliver effective campaigns through the appropriate channels once you define your targets.

  • Make sure you know your high-value accounts: Make sure you identify and prioritize your high-value accounts based on all the firmographic information you find on your clients. It is important to consider not only the financial potential of the business, but also factors such as reputation, market influence, the likelihood of repeat business, and potential for increased profits.
  • Find key internal players and mapping accounts: Determine who the target accounts are, how decisions are made, and who makes decisions. Establish clear and significant business challenges that the target accounts face. An effective ABM program employs content that addresses these challenges. Identify the pain points of your target account and use messaging and content to address them.
  • Decide what channels to leverage: Use the web, mobile, and email to communicate with your target audience. Be sure to choose the right channels and consider things such as opt-in rules and other restrictions local to your area.
  • Coordinating campaigns across channels: Aligning the marketing and sales teams’ efforts is critical. ABM campaigns can now be coordinated and executed at a much higher scale and efficiency than in the past.
  • Take Action: Ensure your ABM marketing campaigns are effective and that you will improve your results by testing, measuring, and optimizing them. Make sure to review individual campaign results and trends at the account level to obtain a more comprehensive overview.

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