Are you interested in account based marketing? Looking for some account based marketing strategies that you can consider implementing? Are you unsure about how these strategies can help you increase ROI? If so, you have arrived at the right place.
In this article, you will learn more about what account based marketing is, some effective strategies, and how account management strategies increase ROI.
What Is Account Based Marketing (ABM)?
Account Based Marketing is shortly called ABM. ABM refers to the growth focused strategy in which both the sales and marketing teams work together in collaboration. Marketing and sales teams collaborate to develop and offer personalized buying experiences for a group of high value accounts that were mutually identified.
Account based marketing takes a very holistic view about marketing. Account based marketing makes use of customized campaigns to engage with each high value account. The campaigns will majorly be based on a specific attribute or need of the account.
Now that you know what Account Based Marketing (ABM) is, let’s now discuss some effective Account Based Marketing Strategies.
5 Account Based Marketing Strategies You Should Know
It is essential to have strong and effective account based marketing strategies to achieve your desired results. Here are some strategies that you can consider implementing to help increase ROI:
- Develop account plans.
- Perform research and create account personas.
- Establish collaboration between sales and marketing teams.
- Identify touchpoints of your accounts.
- Develop and run targeted campaigns.
Let’s dive into the details.
DEVELOP ACCOUNT PLANS
One of the most important account based marketing strategies to increase ROI is to determine which accounts to target and develop account plans. In this process, it helps both the sales and marketing teams to collaborate and work together to identify the potential leads they must attract to help reach the targeted accounts. They will also develop the content that is required to engage with the targeted audience.
When you develop account plans, it is essential to remember that each account plan must be custom made, according to the needs of that particular account. Make sure to answer these two questions during the process of developing account plans:
- What content is required to attract a targeted audience?
- Who is the decision maker for these sales?
PERFORM A RESEARCH AND CREATE ACCOUNT PERSONAS
Once both the sales and marketing teams align on their approach and work together in collaboration, it allows the company to work together in ensuring that they are targeting the right accounts.
Here are a few things to consider when you identify, and create account personas for account based marketing approaches.
- Develop a vision, mission, and business objective for your ideal clients.
- Identify the size of the company, growth trajectory, and the current stage of business maturity.
- Identify the spending patterns and revenue models of the account.
- The channels and tools that are currently used by your ideal clients.
After you have identified, it is essential that both the sales and marketing teams must agree on the account you are targeting before you begin with the process.
ESTABLISH COLLABORATION BETWEEN SALES AND MARKETING TEAMS
The most crucial part of this process is to make a successful alignment between sales and marketing. This in turn helps with successful implementation of account based marketing strategies to increase ROI.
You must create a personalized buying experience for clients to have a seamless transition, from acquiring a lead to helping them become your client or buyer. It is essential for both the teams to have a clear understanding and communication to help achieve the desired results.
IDENTIFY TOUCHPOINTS OF YOUR ACCOUNTS
A touchpoint refers to the point in which a client comes into contact with your business in the sales cycle. It is very much essential to identify the touchpoints of every account. Touchpoints can be virtual or physical, and that includes:
- Landing page of your website
Identifying the touchpoints of all your accounts is considered as one of the smartest marketing strategies, as it helps you personalize them based on their needs, and redirect clients to take actions you want them to.
DEVELOP AND RUN TARGETED CAMPAIGNS
As a part of Account Based Marketing (ABM), it is essential to develop and run campaigns for your target audience. When you consider executing targeted campaigns for your target audience, it is essential that you choose the right channels wisely.
Choosing the right channels paves you the way to improve your odds of executing your campaigns successfully. Make sure that the campaigns you create pave the way to begin a conversation with your intended clients.
How Does Account Based Marketing Increase ROI?
Did you know that 61% of B2B marketers have reported that ABM has helped them with their overall marketing objectives?
Let us now discuss some of the benefits of how Account Based Marketing (ABM) helps increase ROI.
- Helps have a clear understanding of your ROI.
- Creates an alignment between marketing and sales.
- Helps develop a customized marketing approach.
- The length of the sales cycle is short.
- Reduced wastage of resources.
Frequently Asked Questions (FAQs)
1. What is an account based marketing approach?
An account based marketing approach refers to the growth focused strategy in which both the sales and marketing team works together in collaboration. Marketing and sales teams collaborate to develop and offer personalized buying experiences for a group of high value accounts that were mutually identified.
2. What are examples of ABM?
Here are some of examples of a Account Based Marketing (ABM) approach:
– Customized gifts.
– Personalized invitations to high value target accounts.
– Custom-made follow-up after an event.
– A swag for targeted accounts.
3. What are the three types of ABM?
The 3 types of Account Based Marketing (ABM) are as follows:
– Strategic ABM: One-to-one marketing
– ABM lite: One-to-a-few marketing
– Programmatic ABM: One-to-many marketing
If you have been looking for some of the best account based marketing strategies to increase ROI, this article should have helped you gain an understanding of it. We have also discussed how account based marketing helps increase ROI. Make sure to implement the above discussed strategies to achieve the desired results.
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