Successful behavioral targeting with solutions such as Marketing Automation enabled better customization of leads on the Web. Yet these digital tools alone have their limitations. That’s why Account Based Marketing is becoming increasingly popular in the B2B world.
What is the ABM?
Account Based Marketing is a B2B marketing strategy that focuses its marketing and sales efforts on key accounts, generating more revenue than other customers and being renowned players in their markets . Thus, instead of addressing a broad audience, we will build communication actions with the most profitable, sustainable and loyal.To do this, it will be necessary to set up personalized campaigns directed towards each of them.
This concept is not new but meets again with success with the technological advances of the last years. That is why even the smallest organizations are now able to implement this type of strategy, thanks in part to the progress made in the automation of communication processes .
However, it should be emphasized that this is a strategy and not a tool. It therefore obliges the company to review all its marketing strategy as well as the budget and resources mobilized. Making the decision to position itself on this niche is not insignificant. It is therefore necessary to know if this type of strategy is suitable for you, if your business model is suitable and if the profile of your customer suggests this choice.
How to know if ABM is suitable for my case
Does your sales cycle go through evaluation phases ? In some cases, the cost and level of commitment required from the buyer requires you to include these items in your pipeline to ensure the sale. Do your most loyal key accounts have different profiles from others or have you identified, among your customers or prospects, accounts with different profiles that could potentially generate more sales? Do your company’s objectives include a You have the objectives to increase the
How do I define, find and reach my key accounts?
The characteristics of your target:
It is important to look at the business sector, the size of the company, its location, its annual sales, but also to more strategic factors such as its market position, influence, loyalty and profitability . These data can be retrieved by your marketing and sales teams through market research or simply by your market experience.
Find your target:
Knowing the final decision maker will give you a definite advantage.This will allow you to know how to modulate your communication with the latter and thus to be more impactful. Linkedin is the ideal tool to know this person. The advanced search makes it possible to search for a person according to the company but also the position.
We can respond more precisely the expectations of the lead by putting in place strategies for content marketing or of Inbound Marketing .However, nothing will replace the effectiveness of a human presence, you must also mobilize your sales teams and specialists on the follow-up and guidance of your targets around this strategy. This is indeed one of the characteristics of the ABM, which tends to reconcile the salesmen with the marketing in order to be as close as possible to the expectations of the big accounts.
The benefits of an ABM strategy
A higher return on investment
Large accounts have strong propensities to stay and buy more at home. Contracts tend to be larger, more frequent and therefore have an above average CLV ( Customer Lifetime Value ) . A study conducted by ITSMA confirms this rule with a study of 2014 confirming that ABM is the most profitable strategy of B2B marketing.
Instead of having a broad spectrum targeting strategy, ABM will focus its actions only on promising accounts . Thus, by focusing on a specific target, the resources mobilized on less profitable clients and segments are minimized. The communication can be personalized for each and thus be more impactful to the latter.
Better engagement rate
A study conducted by Abderdeen Group shows that 75% of customersprefer to receive personalized offers . Customers, prospects are indeed more inclined to engage in content that is specifically targeted to them, which is useful for their business and that has a meaning in the customer journey.
By concentrating its analysis on a handful of key accounts, we can obtain more accurate results on the performance of actions implemented (email marketing, offline and online), by eliminating less relevant data from less important leads and prospects and promising.
Harvest valuable information
Adopting an ABM strategy will allow you to better know the final decision maker of a sales process. Whether it is through educating salespeople to the question or through a survey, this will provide you with the data to understand who the various stakeholders are in the buying process.