Most B2B website visitors are potential customers with no guarantee to convert. Traditional marketing methods often fall short in this regard. Blanket mass communication demands significant capital, yet the conversion rate from marketing-qualified leads (MQLs) to sales-qualified leads (SQLs) remains low. Furthermore, with 41% of companies utilizing email marketing, the email marketing space is becoming saturated. A fresh approach is necessary to effectively fill the sales pipeline.
This is where Account-Based Marketing comes in
A more personalized version of marketing you won’t find. Businesses have had good results with this strategy. With marketing and sales teams hyper-targeting a small, segmented audience with personalized one-to-one marketing communication, the result is long-term client relationships and opportunities for recurring business. Customized nurture plans for each segment/ customer ensure maximum conversion.
Types of ABM Strategies
Even within Account Marketing, marketers have the freedom to decide what micro-strategy/level of personalization they want to go for.
- Strategic ABM: aimed at the most valuable clients, the top 10%
- ABM lite: focusing on key accounts with comparable characteristics and needs
- Programmatic ABM: engaging in one-to-many account-based marketing
Requires in-depth account research and personalized strategies. Suitable for companies with the capacity to invest in long-term relationship building with key accounts.
Requires segmentation and account profiling to identify common characteristics. Suitable for companies with limited resources seeking to focus on specific segments for personalized outreach.
Relies on technology and automation for scalability. Suitable for companies seeking to reach a larger audience while still personalizing their messaging to align with account attributes.
Why Account-Based Marketing Works
Think of it as a precision strike.
ABM allows marketers to invest their time, energy, and resources where it truly matters, avoiding the scattergun approach of mass marketing. Account-based marketing flips the traditional sales funnel on its head with an identify, engage and nurture-till-conversion strategy. Marketers strategically identify and target customers with the highest Customer Lifetime Value (CLV), ensuring that their efforts yield maximum returns.
ABM Strategies that help build effective customer-brand relationships
- Assembling a dedicated team for ABM clients – Marketing and sales should work as a cohesive team to nurture contacts.
- Set smart goals – ABM numbers won’t target as many customers, but personalized communication means that the conversion rates will be higher.
- Locate decision-makers in target accounts – Utilize data and insights for deeper customer understanding
- Begin your marketing efforts with personalized communication
What follows is the same as regular marketing campaigns. Keeping track of metrics for the campaign duration and course correcting for maximum impact. This is the ABM ecosystem.
ABM Techniques that we have had success with
A combination of blogs, webinars, case studies, emails, videos, whitepapers, events, social media, account-based ads, and direct mail engages the target audience.
There are many fronts to approach the customer including email marketing, social media interactions, personalized direct mailers, events, and targeted account-based advertising.
Host personalized events, such as executive roundtables, workshops, or exclusive networking opportunities, tailored to the needs and interests of key decision-makers to showcase the value of your solutions.
Leverage account-based advertising platforms to display ads on digital channels, reaching decision-makers with personalized content tailored to their industry, pain points, or specific stage in the buyer’s journey.
Leverage TSL as your strategic ABM Partner
At TSL we understand the strategic importance of direct customer engagement and the impact it has on long-term brand-customer relationships. We take a technology-enabled perspective to enable customer-centric and data-driven ABM strategies. Our strong marketing–sales fusion teams allow us to deliver a cohesive and consistent brand experience for our clients.
Book a no-obligation 30-minute consultation call with TSL. Find out how ABM can boost sales and enhance your overall marketing efforts. Get in touch with us to book an advisory session this week.