We've been talking about the top use cases for your marketing data this month, and one of those is improving your account-based marketing (ABM) strategy. Too many businesses and marketers aren't taking advantage of all of the data they have at their fingertips, and it's costing them. To improve your overall marketing strategy, it's essential to understand and analyze your customer data as well as the big data available to you.
Let's talk about account-based marketing for a bit, how that strategy can help close sales for the business, and how utilizing it can support long-term marketing strategies for your company.
What is account-based marketing (ABM)?
First and foremost, ABM requires some serious collaboration between your sales and marketing teams. If you're not able to get the two to work together (which is a bigger problem in itself), you're not going to have a successful ABM strategy.
This is because ABM is a strategic marketing tactic that essentially treats each lead or account as its own market. So your sales and marketing teams are marketing to any given account on its own, with its own specific nurturing tactics and strategies.
Sounds way too crazy specific and expensive? Don't worry, it doesn't have to be. And the return you see with this marketing strategy is well worth the investment. That's because the personalization that ABM provides to your leads and accounts helps to increase conversions tenfold.
How does ABM work?
Let's dive into the key steps for making account-based marketing work for your company.
1. Find your target audience.
This should be a collaborative effort between your sales and marketing team and includes creating a customer profile based on your marketing data. Understanding which customers and accounts are going to get the most value from your business is the best way to identify the correct accounts for ABM.
While creating your customer profile for ABM purposes, it's important to really think about your goal clients and customers. Who is going to drive the most value for your company, and which businesses could you create the most value for?
2. Create your segments and research content avenues.
To make ABM easier on you, separate your different targets and accounts into segments. These can be based on business type, business size, or perhaps job title of your point of contact. Then you want to start researching content ideas for that segment's path through your customer journey.
3. Create your content.
ABM is more about creating content specifically for the types of accounts and businesses you would like to attract, so keep that in mind when creating your content. You'll want to put together blog posts, lead magnets, video content, webinars, and more, for that specific audience.
4. Pick your platforms.
Once you've created your value-packed content, it's time to determine where the best places to promote it would be. After all, your content is pointless if you can't get it in front of the right eyes. Understanding the demographics of the main social media platforms is a great place to start.
5. Create your campaign.
Now that the planning part is over, it's time to execute. You know your target audience, so it's time to set up your targeting within your ad campaign settings. Whether you're using Facebook, LinkedIn, Twitter, etc., each social media ads platform has its own set of targeting features. Create your audience, input your assets that leads to your content, and get ready to rumble.
6. Measure your results.
One complaint of social media marketing is that it's nearly impossible to measure ROI. However, that's simply not true. You must create metrics, utilize pixels, and implement ways to track clicks, impressions, and most important of all, conversions.
Going through each of these steps will help your business to create an account-based marketing strategy that will help you to get results. Once you've implemented this process, your ABM strategy can kind of fall into place in the future. You know who your goal audience is, you know how to target them. You may need to tweak your content pieces every so often to keep your funnel fresh, but your long-term marketing strategy will require less work once the setup is tested and complete.
To learn more about using marketing data in your strategy, check out our B2B marketing data & technology ebook.