In this digitalized marketplace, a majority of B2B marketing companies have been adopting ABM.
Account-based marketing is a fast-growing, successful marketing strategy today. More than half of the brands globally are using the ABM approach in their existing business functionalities – according to LinkedIn. In fact, more marketers plan to augment their ABM budget in 2021.
However, many B2B organizations are confronting various issues with reduced marketing budgets amid the pandemic. As per experts, marketers need to follow the critical aspects of marketing to implement ABM successfully.
Marketing and Sales Teams Need To Operate Together
There are many organizations where marketing and sales departments work individually – and not in sync. Although each domain has a distinctly crucial role, sharing knowledge as well as resources results in a detailed analysis of the target accounts.
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According to Growthfluence, nearly 80% of marketers using an ABM program indicated that they are “somewhat, too tightly” aligned with the sales team.
Excessive Personalization Is Not Required
Though personalization is an essential aspect of ABM marketers; over-personalization should be avoided. Along with focusing on a particular customer, the marketing team should talk about critical issues that matter to that individual.
Basically, the marketers must have a tight segmentation on the basis of quality data and insight – avoiding over-commitment to personalization. This would otherwise strain resources.
The Need for More Focus to Create Strategies
With the increasing adoption of ABM, there comes the need to distinguish various types of frameworks. Thus, marketers must vary the ABM strategies based on the available resources, budget, data, and size of the organization. This way, businesses can scale it as per their requirements.
Tracking ABM Campaigns Is Vital
It is important to measure ROI across each channel against different marketing metrics. For ABM solutions, it is better to check engagement and overall activity with particular organizations or individuals rather than broader marketing metrics such as clicks, website visits, impressions, etc.
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As per ITSMA, almost 90% of B2B marketers who track ROI believe ABM outperforms all marketing strategies.
Clearly, marketing leaders are realizing that ABM is primarily about building trusted, strong relationships within an account and improving them with time. Companies acquiring trust and reaching new stakeholders will augment their chances to tap new budgets –expanding their offerings to different business areas.