The way of doing business has totally changed in this modern world. In the internet age, everything is connected, from consumers to businesses.
The strategies and tools employed in the traditional market era are not hitting the bullseye in the modern world. So, it is time to change the traditional methods and bring in new ones.
Outbound marketing, like cold calls, telemarketing, seminars, etc., does not promise High Return on Investment (ROI) compared to Inbound marketing, such as blogging, social media, conversational bots, etc. Inbound marketing lays a good foundation for Account-Based Marketing platforms. Let’s discuss ABM in detail now.
What is Account-Based Marketing?
Account-based marketing is a Business to Business (B2B) marketing strategy that initiates sales directly to the high-valued and best-fit accounts. This strategy helps to weed out bad leads and focus on engaging specific accounts with personalized offers, campaigns, and content. High-valued accounts are considered individual markets, allowing the business to move into a delightful and engaging process.
In ABM, you can completely personalize the marketing and experience for every account to get more sales conversions. The entire sales process is shortened as marketing is involved in the sales funnel itself.
ABM is considered a highly effective strategy for B2B, IT, and SaaS companies. If you’re running a company in any of the above domains, you should definitely give it a try.
For example, the famous brand Personify, the leading constituent management, and engagement (CME) platform utilized the ABM strategy very effectively. Let us understand more about it with a view of their challenge, solution, and results.
Challenge – Personify required better insights into its target market and enhanced targeting capabilities.
Solution – Personify started with an ABM program. Their first step was to connect with sales and product marketing firms to build an Ideal Customer Profile (ICP). With this, they were able to create a list of some of the top accounts to target in their niche. The ABM platform was successful in finding the key market segments and running various digital ad campaigns. All these campaigns were personalized based on personas and company stage. So, it turned out to be an effective solution for increasing brand awareness and engagement.
Personify witnessed a 39x increase in their engaged site visitors, and their ROI on marketing-sourced revenue was increased by 8.5x.
ABM has organized the sales process that typically looked like this:
Prospect → Engage → Research → Present → Close → Delight
Identify Target Accounts → Present to Target Accounts → Close Target Accounts → Delight Accounts
Benefits of ABM
ABM follows a quality over quantity strategy. This process focuses on investing considerable time and resources in catering to specific groups. More engagement is made possible through a personalized and consistent customer experience. You are able to build loyalty with high-valued accounts that will help your business expand over time.
With ABM tools, you can measure your ROI easily for each account. You can estimate how much time and resources you have invested in each account and whether they have been correct for your business or not. This will help in better decision-making. Therefore, you can then focus on and delight only those accounts that are giving you high ROI.
Aligned Sales and Marketing
ABM is an efficient way to align the sales and marketing departments. Clear communication and better cross-team alliance are highly beneficial for your business growth. Each team focuses on the same objectives and sticks to the budget. This helps inadequate time, money, and staff management. Moreover, it will create a smooth customer experience.
Now, let us look through some of the best ABM tools that will help you get more business conversions.
Demandbase is named an ABM leader by Gartner in 2022. This ABM platform provides an analysis of the ABM market and evaluates the objective of ABM dealers. They have a deeper understanding of the growing importance of ABM solutions as companies look to benefit from the improved alliance of marketing and sales.
Therefore, you can run your campaigns and balance impressions across accounts and individuals. Evaluate how clicks contribute to deals, pipeline, and revenue at the individual or account level. With complete control over ad destinations, you don’t have to worry about where your ads are tonight. Therefore, Demandbase will help you to protect your brand reputation.
Terminus powers multichannel ABM for over 1,000 customers globally, such as Autodesk, Dow Jones, Gainsight, etc. It engages your target accounts and allows marketers to create a pipeline. They deliver better performance with connected account experiences. You can execute personalized campaigns with more relevant content and messaging and also get accurate insights with Terminus.
Moreover, it has a data studio that keeps all of the account data you need to create segments and run campaigns. Engagement channels will provide chat, advertising, email, sales, website experiences, MAP, and other necessary services. The platform also has a Terminus Measurement studio that measures your entire marketing program.
6sense is an Account Engagement Platform where you can grow pipeline and revenue with an end-to-end account-based platform designed for your entire go-to-market team. It brings marketing, sales, and operations teams together. They identify high-value accounts and contacts to work with and the areas they care most about.
In addition to that, the 6sense’s insights, intent, and AI-driven capabilities power your target market. Therefore, you can create consistent, relevant, and personalized experiences for the customer journey, i.e., from the first touch to renewal and cross-selling. Moreover, strengthen sales with account insightsand measure results with detailed reports and analytics.
RollWorks is an account-based platform for B2B marketing & sales. Are you starting or scaling up? Whether your goal is to set up a new business or expand the existing one, you can turn your target accounts into opportunities faster than ever.
Account-based programs help deliver the right message at the right time to the right audience. RollWorks helps you generate revenue by focusing on the correct accounts at the right time. You can find the target accounts that are the best fit for your business using data and machine learning. RollWorks are trusted by the best in B2B, for example, Aircall, Dialpad, Personify, etc.
Marketo Engage is a marketing automation software. However, it was acquired by Adobe in 2018. Marketo provides sales intelligence.Sellers can quickly identify their high-value leads, gain better insight into buyer behavior, as well as drive engagements that close deals. Their easy-to-use campaign tools allow you to send personalized emails and add prospects to marketing campaigns.
You can monitor buying interest behaviors, such as email opens or website visits, directly on a mobile device. Engage the right customers through behavior tracking and quickly build and scale automated marketing campaigns. The software will also help you determine how marketing and channels impact revenue.
Folloze is trusted by the top B2B brands, for example, Autodesk, Qlik, Aruba, Boomi, etc. They have 3,00,000 campaigns executed, 1.5 million active accounts, and millions of engaged buyers. You can build no code experiences in minutes. It is easy to build any marketing campaign at any buyer journey stage.
Notably, by using it, you can take advantage of your existing data, content, and messaging to personalize and guide buyers through their unique journeys at an enterprise scale. It can also help you analyze your target accounts and understand buyers, their needs and challenges, and where they are in their journey.
The use of the ABM platform can increase business revenue, generate qualified leads, align sales with marketing, as well as scale business. This B2B strategy initiates sales directly to the high-valued and best-fit accounts. It helps to utilize your time and resources better.
ABM helps to track which account is performing well so that you can engage and delight them more. The common problem businesses face today is terrible leads that do not generate high ROI. With the help of inbound marketing and ABM platforms, you can enhance growth and wipe out low-value accounts.
Dhruv is a senior content writer at Geekflare with proficiency in every niche. He mainly focuses on technology, product reviews, crypto, blockchain, and how-to articles. Other than these niches, he also likes to write about freelancing,… read more