Account-Based Marketing (ABM) allows businesses to communicate and work with high-value accounts. ABM ensures solid alignment of marketing and sales, which helps in engaging the accounts at a faster pace.
ABM utilizes data and automation for a predefined and high-value account with personalized messaging rather than casting a wide net. Effective ABM strategies will help businesses move decision-makers through a funnel with a unified alignment enabling enterprises to ladder up to the determined goal. Here are a few practical strategies for ABM
Foster Sales and Marketing Teams
Marketing and sales alignment are vital for a successful ABM as it creates a customized marketing experience. This ensures a seamless transition from acquiring a lead through the final state. Fostering the alignment of sales and marketing teams will improve synergy, establishing a middle ground to ensure streamlined lead acquisitions, which the sales team can sell. An organization adopting ABM can create a task force of one marketer and one salesperson who need to work in synergy to identify and market to target accounts.
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Establish Research to Determine Account Personas
Post-alignment of the marketing and sales team, the organization must ensure the company targets the appropriate personas. An extended research period will allow the organization to identify the number of accounts to be pursued. When establishing ABM’s customer personas, companies must ensure that the mission, vision, and business objectives align well with the ideal customer. Simultaneously, the current stage of business maturity and growth trajectory should also be considered.
Apart from identifying key accounts, the key to a solid ABM is that the sales and marketing team lands up on similar accounts to be targeted. This alignment ensures there is no account-based mess.
Generate Account Plans
After the determination of the account personas, the businesses need to focus on building the account plans. Generation of account plans entails the marketing and sales team working together to map out crucial leads utilized to attract and reach the target accounts. These means also determine what content needs to be produced to engage with the target audiences. When creating an account plan, organizations need to tailor the programs to match the needs of these accounts. Similarly, each account plan should address the individual in the buying decision for sale.
Engage Contacts Associated with Target Accounts
Businesses can engage contacts associated with the target accounts using an inbound methodology. Additionally, if an organization needs additional contacts, the next step is to ensure that these ideal contacts procure solutions related to the company’s offerings. This establishes the company’s visibility in the spaces. It can be captivating to get visibility for the company across the entire avenue. Hence businesses need to prioritize the channels to gain relevance as per target accounts and contacts.
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Involve a Buying Committee
As the company is building relationships with key contacts, it needs to ensure that both the sales and the marketing teams are engaging everyone and are actively involved in the buying decision. The marketing team needs to support the buying process by reinforcing messaging. Both teams need to identify the buyers engaged with target accounts by tracking the interactions. At the same time, data points measuring the health of the deal and revenue attributions should be taken into account. With this strategy in place, the marketing and sales team can continue the process with existing and new versions to attract and retain high-value customers.
ABM is a revolutionary marketing methodology focusing on scoring the right leads resulting in more business revenue. At the same time, it also provides the framework to maximize upsell and cross-selling opportunities by establishing key B2B stakeholders.
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