Are you aware that 45 percent of marketers are doubling their ROI using account-based marketing?
That's an impressive number and should speak volumes of the potential ABM holds for brands. It's proven to outperform other marketing channels (according to 85 percent of those surveyed). This is translating to a whopping 200 percent revenue increase for some businesses.
How do you go about getting similar (or even better) results? It's all in your ABM strategy, of course.
Let's take a quick look at how you can build one for your company.
1. Ensure Your Sales and Marketing Teams Are Aligned
What good is a marketing strategy that drives leads if your salespeople are ill-equipped to convert them? The disconnect between marketing and sales creates a great divide that can cause an unpleasant rift in your bottom line.
Don't let this continue. Your salespeople and marketing teams need to work together to develop strategies and content that enables sales. With regular communication and data sharing, you can improve your marketing and close more deals.
The proof's in the pudding; ABM adopters see a 208 percent revenue increase by aligning their sales and marketing teams!
2. Develop Segments and Personas Using Data
You need to understand your target accounts to market and sell to them effectively. You can do this using data and research.
Gone are the days of sending out mass emails to prospects. Personalization is key to converting more leads, but you need clean data to do this. This is challenging to pull off without the right tools. In this case, SmartForms and SmartSuite are optimal choices.
The idea is to gather firmographic details about your accounts so you can develop segmented marketing campaigns and sales tactics. Some of the details you need to include in your buyer personas are:
- Technology use
- Relevant pain points
- Annual revenue
- Customer base
- Number of employees
- Projected spend
It's also recommended to use intent data to identify the different stages of the buyer's journey. You can then use this in the next step to create relevant content based on where your accounts are in the funnel.
3. Design Content for Each Account
Now that you know your target accounts, you need to do just that -- target them. It's time for your team to create content designed specifically for the buyer personas you developed.
This includes emails, social media posts, blog posts, and even downloadable content such as e-books and guides. The best way to personalize and segment your campaigns is to study the behavior of your audience.
For instance, a user visiting a product page can trigger an email with a guide on how to use that product to improve their business or a case study on how a prior client achieved remarkable results.
4. Continue to Test and Teak Your Campaigns
It'd be great if all you had to do was deliver content once and businesses flocked to your company, but that's not the reality.
Truth is, it's going to take a lot of experimentation to determine what works and what doesn't. This should include regular planning sessions with your managers and sales and marketing teams. Together, they can create KPIs for each activity, so it's easier to track and tweak campaigns.
Improve Your Account-Based Marketing Strategy Today
Take a look at your current strategies for account-based marketing to see what it's missing from this list. Make a plan to get everyone on board with the changes you're making, especially if your sales and marketing teams aren't aligned yet.
Then to top it off, you'll need a coherent tech stack to ensure you maintain clean databases. Here's more on how you can build a tech stack for your ABM strategy.