A traditional marketing funnel starts with a broad pool of leads, then slowly narrows them down. It’s a time-consuming process. And there’s no guarantee that the accounts you truly crave will get caught in your widely cast nets.
What if there was a way to flip the script and focus on expanding your influence with a shortlist of high-value, key accounts?
Well, there is. And it’s called account-based marketing (ABM).
Account-based marketing is all about quality over quantity, homing in on only reeling in those accounts that matter most to your business. And today, we’re going to give you an overview of this marketing strategy. Read on to learn more about ABM, including how your company can start using it to achieve better results.
What Is ABM, And How Does It Work?
When you practice account-based marketing, you focus your energy on the clients/accounts that have the most potential worth to your company. This means you’ll have to tailor your marketing efforts specifically to these accounts, personalizing your message directly to their wants, needs and pain points.
ABM is usually used in business-to-business (B2B) marketing, where deals are much more intricate and lucrative. So if your company sells to large organizations with multiple decision-makers, it’s a strategy to consider.
Here’s how it works:
Identify Your Target Accounts
Choose which companies you want to target. These need to be high-value accounts that can bring in sizable revenue and, ideally, offer long-term growth potential.
Do Your Research
Once you have targets on your radar, you’ll need to do a deep dive into their needs, pain points, challenges, industry trends and current providers. Find out what drives their purchasing decisions. The more you know, the easier it will be to personalize your approach.
Get Personal
Now that you understand who you’re working with, create tailored marketing campaigns just for them. This is truly a “marketing to one” approach. Consider creating specific content that addresses their unique challenges.
Meet the Team
Account-based marketing involves building relationships with all of the account’s core decision-makers. Sometimes, this means interacting with stakeholders across different departments. This means it won’t be enough to pitch how you can help the company as a whole — you may have to demonstrate how your solution relates to each applicable department.
Track Your Results
Just like with any other marketing strategy, it’s important to measure your results and adjust as necessary. We can’t stress this enough: ABM is a marathon, not a sprint. Don’t get discouraged if you don’t see immediate effects. Patience and persistence will pay off in the long run.
Our Best Tips for Account-Based Marketing
If you’re feeling overwhelmed by ABM, don’t! We have a few tips to help you get started.
Create Personalized Landing Pages
With ABM, you’re marketing to one specific account, not the masses. Thus, each company you’re targeting should have a personalized landing page. This helps establish a tighter relationship, signaling that they deserve a certain amount of attention from the moment they first visit your website.
Develop Company-Specific Content
There are no cookie-cutter solutions in ABM. Each target has its own pain points, and it’s your job to address them. Your arsenal can and should include personalized videos, blog posts, demos, webinars, case studies and more. And make sure you’re directly speaking to your target at all times.
Put Your Best Face Forward
Getting decision-makers to agree to a face-to-face (virtual or in-person) meeting is key. To do that, you need to make sure your reputation is already stellar. They will be vetting you, so your rep needs to be on point beforeyou make initial contact.
Use Lead Magnets
Everyone likes to get something for nothing. Giving even a little something in advance not only entices targets to connect with you, but it also instills a sense of quid pro quo that can make them want to give you something in return.
Is ABM Right for Your Company?
Meaningful connections matter in marketing. And there’s no better way to forge them than making each target feel like they’re your only target. Account-based marketing can help you build strong relationships with high-value clients who are in it for the long haul!
Are you looking for a marketing partner who can take your business to the next level? Mischa Communications is your best bet. How can we help?