ABM: The Rules for a Winning Account Based Marketing Strategy
Account-based marketing (ABM) is a strategy based on the collaboration between marketing and sales, whose goal is to create personalized buying experiences for certain high-value accounts.
In today’s article, we will discuss the benefits of account-based marketing for b2b companies and the specific tactics you can implement in your business, examining how ABM can be integrated with another important strategy: inbound marketing.
Below are the topics we will cover in the article
The key elements of an ABM strategy
How to start an account-based marketing strategy
Account-based marketing tactics
Tools to start an ABM strategy
Account-based marketing for B2B
ABM and LinkedIn
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The key elements of an ABM strategy
ABM works differently than a traditional b2b sales funnel. While account-based marketing can be implemented in many industries and business types, there are a few basic rules that must be followed to ensure its effectiveness.
Below are the key components of a successful account-based marketing strategy.
Marketing-Sales Alignment
The working relationship between sales and marketing will be mentioned several times in this article, because its importance cannot be overstated. To have a comprehensive approach to ABM and to ensure that target customers receive an engaging buying experience, marketing and sales must be aligned.
When implementing ABM, sales and marketing teams will need to agree on resource allocation for each target account, assign roles and responsibilities to ensure a seamless transition between marketing and sales activities, and determine how to measure the success of efforts.
Account Qualification
In addition, how does a B2B company determine what constitutes a high-value account? Creating an ideal customer profile for the accounts your company wants to target is a key component to answering this question and creating an effective account-based marketing framework.
To determine the requirements of a potential account
Revenue: Given your company’s sales goals, it’s important to consider how much revenue an account can generate.
Scalability: Based on the information you’ve gathered about the prospect’s business is there potential for growth for the account in the future? For instance, consider additional offerings your company could provide to retain and grow the account.
Competitive Context: Who are your competitors selling to? Therefore, knowing your competitors helps you identify future opportunities for your customers.
Go-to-Market Approach
Once your marketing and sales are aligned on your approach and target customers, it’s time to map out a go-to-market plan.
Understand exactly how a new customer
Will move through the B2B sales process using an ABM approach. As you prepare to go to market, you may find areas of friction that need to be addressed or areas of poor communication that can be strengthened.
Additionally, because personalized experiences are key to ABM, your team will need to continually find new ways to provide added value and deliver a great experience to these accounts.
How to Start an Account-Based Marketing Strategy
To get the most out of an account-based marketing approach in B2B, you need to have a solid strategy. Below are the steps to consider when creating and implementing an effective ABM strategy.
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Create Alignment Between Sales and Marketing
Marketing-sales alignment is critical not only to email data a successful account-based marketing implementation but to overall business growth.
To improve the synergy between marketing and sales, both departments must commit to clear communication and find the best way to ensure that the marketing team is acquiring leads that salespeople can best sell to.
This way, marketing and sales teams can afb directory focus on the same goals, ensuring that all communications, interactions, and content are consistent for customers.
Conduct research to determine buyer personas
Once marketing and sales are aligned on the approach to use, organizations can work together to ensure that the company is targeting the right personas.
Account-Based Marketing Tactics
Use a Strategic Account Planning Template
To unify your account-based marketing team. For instance, you should use a strategic account planning template. This template helps you outline your initiatives for each individual account, such as:
company overview
key business initiatives
customer relationship overview
customer products and revenue
competitor analysis
buying process and touchpoints
relationship goals and strategies
sales opportunities, objectives, and risks
action plan
Ensure your organization is aligned on ABM
One of the most important account-based marketing tactics is probably one of the simplest: ensure your organization is aligned on account-based marketing.
This means that all internal stakeholders need to be involved in the various factors related to your ABM strategy. In addition, this will make it easier for your company to create consistent experiences for your accounts and ensure your strategy is as efficient and streamlined as possible.
Building the ABM Team
Marketing and sales leaders will need to align on how to build the ABM team. They should identify at least one marketer and one sales rep who are fully dedicated to customers.
These people will create and publish content for accounts and work to manage and close deals with each account. (As a general rule, it’s best to limit the team to no more than ten sales reps and one marketer.)
In addition, to marketing and sales, don’t forget to identify other key internal players, such as customer success people, who should be aware of and aligned with your ABM strategy.
