As a marketer one should know that more the campaign is personalized the better is it will work performance wise. Now to understand how it works one has to know what Account Based Marketing is.
What is Account Based Marketing?
Account-based marketing (ABM) is a strategic approach to sales and marketing that uses highly targeted and personalized communication to win new business from a specific company (or an account).
Rather than launching a broad marketing campaign that attracts thousands in an attempt to nurture only the few that express their interest, ABM targets specific companies in a bid to engage with key decision makers and then build on that relationship to open up new sales opportunities in the future (also known as “land and expand”).
How Manlitics’ intent data and Account Based Marketing work hand in hand?!
Manlitics creates an ABM list with its intent data. Its intent data provides an insight into a web user’s purchase intent, allowing you to identify if and when a prospect is considering, or looking to purchase your products or solutions or is wanting to purchase similar ones.
ABM is used to land new accounts as well as expand business with existing clients. ABM forgoes the time and effort to narrow down a large bucket of leads into qualified prospects by honing in on qualified clients. It also helps focus internal resources and budgets on activities most likely to generate revenue and improve ROI.
Key benefits of Account Based Marketing
Sales and marketing alignment
Companies should align their sales and marketing activities in order generate higher revenue, enhance brand awareness and increase average deal size. In terms of strategies that align both teams, there’s none better than account-based marketing! For decades, marketers’ teams have been creating marketing campaigns to attract new leads for sales reps to sift through the noise, only to find a handful of leads that might actually buy.
With the help of ABM, the goal is to close a single account, which means both teams, sales and marketing stay focused and work towards the same business goal.
When a new lead from your target account comes in, it’s the same lead that both teams are chasing. Therefore, sales representatives spend more time on nurturing a qualified target lead instead of wasting time following up on mass unqualified leads.
High returns on investment (ROI)
For and sort of business tracking the Return on Investment (ROI) is important, but it’s even more important for the marketing department, which is usually seen as a cost center. A positive ROI is important when the hard-earned money is spent.
The investment you make in ABM delivers either the same ROI, somewhat higher or significantly higher returns compared to other marketing initiatives rather it makes a zero-waste strategy.
Instead of spending $100,000 on a generic branding campaign across several markets, you create smaller, more specific campaigns towards a single account and its key decision makers.
As you’re targeting fewer people, you end up spending less. But each dollar from the marketing campaign budget is spent on putting your brand in front of right people at the right account.
Not only does ABM help align sales and marketing teams and generate a positive ROI, but it’s also been proven to increase revenue.
Incredibly, 60 % of companies that use ABM saw a revenue increase of at least 10% within 12 months, while 1 in 5 companies experienced a revenue increase of 30% or more. B2B marketers saw an increase in average annual contract value of 171% after implementing their ABM strategy.
Few strategies to enhance your Account Based Marketing during tough times like COVID-19 can be as follows-
- personalized emails cut through the noise Prospects’ inboxes are filled with people offering help and “we’re here for you” messages. However, we’ve seen prospects respond to thoughtful, well-crafted emails. That’s where your background research and personalization come in.
- People are spending more time networking on social media right now. So, take advantage of that to run some targeted PPC ads as part of your ABM strategy. LinkedIn in particular enables highly precise targeting where you can use personalized messages and helpful content to generate engagement at your target accounts.
Hope this is helpful!
For more details contact: www.manlitics.com