What is Account Based Marketing
B2B Purchase journey is always in a state of flux. Today, there are anywhere from 5 to 12 stakeholders in a large buying decision. Furthermore, these stakeholders use 10 or even more channels for their research. So, the question is how do brands remain omnipresent and omnichannel – and yet stay relevant to the customers?
Uncover all the sales intelligence and fill your pipeline with a steady stream of ready-to-buy accounts.
Identify the right target account
All leads are not equal. Marketers need time to filter good accounts from the cold ones. Build your account based on your ideal customer profile (ICP). In ICP, we map the attributes of the customers with the company’s business and revenue goals. You can understand your target customers and define their problems or challenges with greater accuracy. Marketing and sales can focus on the right accounts that are most likely to do business with you.
Focus on data
SiriusDecisions says, “Companies that proactively maintain their sales and marketing database can realize 66% higher conversions to revenue compared to those that don’t.” Successful ABM (Account Based Marketing) strategies must start with data, because better data leads to better marketing decisions. You need the right set of data, to build a better ABM list based on their spending levels, current revenue performance, future growth potential, and buying history.
Engage with relevant content
ABM makes big sense for marketers because it is hyper-focused when it comes to personalized engagement. Rather than the conventional top-of-the funnel approach of targeting a larger audience with similar titles, we can go surgical in identifying the right accounts and engage them with relevant content. In a buying group each job titles have their own sets of specific challenges. For example: An IT Director might be concerned about security and risks, whereas a CFO will be more concerned about financial aspects like budget and revenue. In both the cases you need relevant content to engage meaningfully.
Build the right account list
ABM focusses on right account leads and not just more leads. The process usually starts with selecting best-fit account list based on multiple variables like order value, upsell and cross-sell opportunities, and other buying attributes across the company hierarchy. Select and rank potential prospects which align with your business goals and strategies. The goal is to build account-based models target audience list for three specific criteria. Do you have the solution to solve the customer problem? Is the prospect ready to buy? If yes, what are the pain points that we need to address for each stakeholder in the buyer group.