According to Gartner, successful account-based marketing strategies have a great deal of potential for return on investment and can raise pipeline conversion rates by 14% because of improved targeting and coordination between the marketing and sales teams. Moreover, HubSpot also highlights that ABM strategies deliver higher ROI than other marketing activities. The above statistics show how effective ABM can be in producing focused, quantifiable, and significant B2B marketing results.
ABM, in contrast to conventional marketing strategies, is a focused approach that enables sales and marketing teams to engage and delight target accounts much faster. Adopting account-based marketing services from a reputable partner can create new growth opportunities and provide a proven pathway to success. TSL Consulting prioritizes and converts high-intent target customers that align with your ICP through account-based marketing services. In addition to raising brand awareness and reaching new markets, we create highly customized and targeted campaigns that connect with your most valued accounts.
What is account-based marketing (ABM)?
Account-based marketing (ABM) is a powerful, focused B2B marketing strategy for better customer acquisition, relationship-building, and business growth. It involves sales and marketing teams to collectively engage specific target accounts by offering personalized experiences and tailored content. The goal of ABM is to increase pipeline quality and focus on the right leads, rather than more leads.
Benefits of implementing account-based marketing strategies
According to Gartner; companies with account-based marketing strategies report a 28% increase in overall account engagement and a 25% rise in the marketing-qualified lead (MQL) to sales-accepted lead (SAL) conversion rates.
Moreover, according to Salesforce, B2B companies with ABM strategies report 91% larger deal sizes, and 38% higher sales win rate, leading to 24% faster revenue growth. ABM can be help in solving B2B common challenges such as delivering personalized engagement at scale, aligning sales, marketing, and service teams, and streamlining marketing budgets. Still not sure about how ABM can bolster your business’s success? Let’s dissect it even more:
1. Keeps marketing and sales aligned: By providing a unified approach to target high-value accounts, fostering collaboration, and shared goals, ABM aligns sales, and marketing teams and ensures a seamless and delightful buyer journey.
2. Accelerate sales cycles: ABM helps accelerate the sales cycle by enabling a more targeted, personalized, and collaborative approach to engaging high-value accounts. A Personalized approach builds trust and relevance, accelerating the decision-making process and thus sales cycles.
3. Higher marketing ROI: By pinpointing efforts on high-value accounts, ABM delivers one of the highest returns on investment compared to other marketing strategies. By focusing resources on accounts with the highest revenue potential, you reduce waste and minimize the risk of ineffective marketing spending.
4. Efficient use of resources: ABM enables marketing and sales to be focused on a group of high-value accounts, which helps optimize resources (such as targeted advertising spend, specialized content creation, etc.) and reduce marketing spend.
5. Better customer retention: With personalized outreach, ABM helps in building and nurturing ongoing relationships with existing customers, leading to better customer satisfaction and loyalty.
How do account-based marketing strategies and inbound marketing complement each other?
Combining ABM’s precision targeting with an inbound content-driven approach, companies can achieve more significant and sustained business growth over time. Inbound marketing strategies lay a strong foundation of valuable content and customer insights, while ABM strategies target and engage high-value accounts. This integrated approach not only generates, nurtures, and converts high-quality leads but also provides more seamless and personalized account-based experiences throughout the customer lifecycle. Businesses with a hybrid approach can amplify ROI and create a cohesive customer experience.
Account-based marketing strategies for B2B marketing
The goal of Account-based marketing for B2B is to focus on tailoring campaigns to specific high-value accounts to enhance engagement and drive conversions. Below are some successful ABM tactics for B2B marketing:
1. Identify target accounts: The goal is to identify key accounts with the highest potential value and create a target account list to go after.
2. Create personalized content: Develop personalized content like case studies, whitepapers, or videos to build trust and address the pain points of target accounts.
3. Multi-channel campaign: Combine traditional marketing with digital channels such as LinkedIn ads, email marketing, webinars, and direct mail to boost engagement and generate quality leads.
4. Conduct account-specific events: With the goal of deepening relationships and accelerating sales cycles, conduct bespoke events tailored to key accounts, such as workshops, dinners, or VIP webinars.
5. Leverage ABM platforms and AI-driven tools: Use ABM platforms, predictive analytics, and AI-driven tools to optimize campaigns, enhance efficiency and ensure tailored experiences.
6. Analyze campaign performance: Analyze performance data and measure key metrics such as engagement levels, deal velocity, account revenue, and ROI.
How to create an account-based marketing strategy?
Now that we know the importance of account-based marketing for business success, below we have outlined the five steps to create an effective ABM campaign.
1. Start by defining objectives and setting measurable KPIs.
2. Identify target accounts by using data-driven insights or by leveraging any CRM and ABM platform.
3. Build personas of target accounts to develop personalized messaging that can resonate with their needs and pain points.
4. Once the key accounts are identified and personas are built, it is necessary to identify the right channels like email, LinkedIn ads, and direct outreach to deliver personalized content and get the most engagement from your key accounts.
5. ABM is a collaborative and connected marketing. The sales and marketing team should be aligned around common goals, communication channels, and account strategies for connected customer engagement at every customer touchpoint.
6. Leverage multi-channel campaigns to maintain a unified message across channels and reinforce your value proposition.
7. Monitor performance metrics such as engagement rate, pipeline progression, etc., optimize campaigns, and channel strategies, and track accounts as you move through your ABM funnel.
Boost your Marketing effort with TSL Consulting’s Account-Based Marketing Strategy
Start closing deals faster with TSL Consulting’s B2B ABM services. Our ABM Techniques that we have had success with:
• Content personalization: Blogs, events, social media, account-based ads, webinars, case studies, emails, videos, whitepapers, and direct mail to engage the target audience.
• Multi-channel engagement: Personalized direct mailers, events, targeted account-based advertising, email marketing, and social media interactions.
• Personalized events: Executive roundtables, workshops, or exclusive networking opportunities.
• Account-specific advertising: Display ads on digital channels, reaching decision-makers with personalized content.
At TSL we take a customer-centric and data-driven approach to deliver a cohesive and consistent brand experience for our clients. Contact us at smohite@tslmarketing.com to know more about our ABM strategies.
