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Sales Strategy Tips: Account-Based Marketing
The term account-based marketing is increasingly common. But what does it mean and why is it essential for a successful B2B sales strategy?
Sales requires good and qualified leads. However, the generation of leads, e.g. by cold calling at trade fairs or outbound calls is laborious and sometimes tedious.
In this article, you will learn how to support sales through account-based marketing.
What does account-based marketing mean?
Account-Based Marketing (ABM) is a special form of online B2B marketing and an effective way to bring sales and marketing together. This is not mass communication: ABM is not aimed at a whole target group, but at individual accounts; i.e. through targeted, personalized measures, certain leads receive the valuable content for them.
An example for clarification: every website visitor gets displayed the content that fits their individual needs, and that increases the likelihood of a conversion. So there are specific Buyer Profiles (companies) and Buyer Personas (people) to reach with useful content.
Create an ABM plan
As with any marketing measure, the first step in building an ABM plan is to set goals and ensure that you achieve measurable results. Plan how to involve each of your stakeholders in these goals – especially the sales team. Make sure your marketing goals match your business goals.
Three considerations in the development of ABM goals
- Define overall goals: Link the business, marketing, and ABM goals together. They should not be standing alone, but all build on each other.
- Coordination beyond marketing: Every successful ABM program works across sales and marketing functions, and in some organizations, the customer team should also be involved. Work with relevant non-marketing teams to find out what you need to accomplish, both individually and together. Make sure that all targets associated with ABM are the same or at least complementary.
- Set appointments: Create timetables based on your past experience within the organization and what is required to succeed.
Tasks for marketing and sales
Your ABM program is all about interaction. Much of this engagement comes from your sales team and account managers.
Your marketing team will also devote a large portion of its resources and support the sales team with their commitment.
Note the following steps:
- Research and document key aspects of target accounts and contacts.
- Plan and create personalized content for target accounts.
- Share personalized content through specific channels.
- Create additional supporting content.
- Plan and monitor the target ABM account throughout the enterprise.
Buyer Personas: Research and document key aspects of target accounts and contacts
You should identify key business issues, vulnerabilities, challenges, core beliefs, and resonant issues that affect both the account as a whole and individuals.
Note them for each account and contact it in a place that is easily accessible for sales and marketing. This information is updated regularly as your sales team works more closely with important contacts.
Make sure you’ve covered important demographics, including industry, organization size and form, job roles, and more.
Besides the pain points and problems, the personality types are important. People react differently: this may mean that you need to adjust your choice of marketing channels and techniques to get the attention of the contact, or to adapt the way you write your texts to the preferred style. In particular, social media activities can provide clues as to how to attract the attention of an ABM contact.
Plan and create personalized content
Based on the results of your research, the next task for your ABM team is to plan and create personalized content that addresses the challenges and issues you identified. The content may require different formats depending on the topic and audience.
What benefits does personalized content hold? Individualized content should keep the user on the page for a longer time, thereby increasing the length of stay. On the other hand, a higher conversion rate is the target.
Mass marketing is likely to become less and less relevant, because marketing concepts such as ABM allow even more targeted communication. In the end, this also benefits the end customer.