ABM is a fast growing approach adopted by a vast majority of B2B marketing industry.
A LinkedIn survey of more than 800 B2B marketers globally, says that more than half are using account-based marketing (ABM) in their current business operations while majority of them plan to boost their budget for ABM in 2021.
Here are four key strategies that can help B2B marketers while implementing ABM.
1. Sales and Marketing Teams need to work in sync
There are several companies where marketing and sales departments work separately and not in sync. Although each function has a distinctly important role, sharing knowledge and resources helps in detail analysis of target accounts. As per Growthfluence, 80% of marketers with an ABM program say they are “somewhat too tightly” aligned with the sales department.
2. Avoid doing excessive personalization
Personalization in an important part of ABM program marketers; however, marketers should not over-personalize. AMB is not only about focusing on a singular person, but more about talking about key issues that matter to that person. It is necessary to for marketers to have a tight segmentation based on quality data and insight and avoid over commitment to personalization as it strain resources.
3. Focus on building strategies
Many companies are adopting account based marketing but there needs to be a distinction for different types of frameworks. Marketers should vary their ABM strategies based on available budget, resources, data, and size of the company. Companies can scale it as per their business requirements.
4. Measuring ABM campaigns
It is important to track ROI across each channel against the metrics that are crucial. In the case of ABM programs it is better to check activity and engagement with specific organizations and individuals instead of broader marketing metrics like clicks, impressions, and website visits. Nearly 90% of B2B marketers who measure ROI believe ABM outperforms all other marketing tactics, notes an ITSMA report.
B2B marketers are realizing that ABM is more about building strong and trusted relationships within an account and strengthening them over time. Once companies start garnering trust and reaching new stakeholders it improves their chances of tapping new budgets and expanding services to different areas of the company.