Account-Based Marketing (ABM) is a strategic approach to B2B marketing based on goals for specific targeted accounts. The approach to engage with the right individuals at these accounts is different than your usual mass marketing tactics. ABM helps organisations engage earlier in the sales process with higher value opportunities, align strategic marketing initiatives with sales and account management strategies, and maximise the value and ROI from marketing campaigns.
We’ve written before about why you should invest in a Content Personalisation Strategy, and that’s a large part of account-based marketing. When targeting an account, you can use the information you know about the right prospects to personalise all communications. For example; conducting bespoke research on specific companies then developing customised research reports that you then professionally print and send to the recipient.
ABM allows you to use marketing resources efficiently. We often find with mass targeting, companies can be stretched quite thin. ABM gives a “quality over quantity” approach. The fewer accounts you are targeting, the more time you can spend on each one, thus your most valuable resources, staff time and money, are optimised.
According to the Information Technology Services Marketing Association, 84% of businesses surveyed that account-based marketing delivers higher ROI than other types of marketing. Measuring the ROI of any marketing campaign is crucial, but through ABM you can see both the return of investment and immediate areas for improvement base on how your prospects are responding to your content.
Don’t be afraid to be bold with your content as well. As well as a deep dive approach, sometimes being blunt is just as effective. A web products and services company called Intridea were trying to get the attention of the ad agency, Ogilvy & Mather. The team hired a billboard across from the ad agency’s office in Manhattan, NYC, with a simple, but bold (and quite funny) message, featuring a URL that took the user to a website with funny gifs and a personalised messaging saying “Made you look, now hire us!”. This creative approach landed them a meeting with the agency, and in addition, they got a call from the CEO and Managing Director to set up the consultation.
While this is not relevant to all of us, this form of experimental marketing can be quite effective in engaging your prospects on a deeper, emotional level. The element of surprise and commitment to the process is more effective at engaging people. Good account-based marketing gets to know the prospect, targets their needs, delivers efficiently and gets you the results that make a difference.