Account Based Marketing, also referred to as ABM, is a business to business marketing strategy that focuses its resources on a set of key accounts within an industry. This strategy makes use of highly personalised campaigns that are intricately designed to engage with each account, basing the marketing message on the specific needs of the account. We believe that in 2021, any effective B2B marketing and sales strategy will need to include account based marketing for maximum effectiveness. Here's why.
Account Based Marketing takes your sales and marketing team and connects them like never before, helping align everything from initial lead contact to conversion. ABM goes beyond traditional lead generation and markets to existing customer accounts as well, to encourage upselling and cross-selling, which ensures your sales team gets the most value from large accounts.
This kind of marketing and sales alignment is the future of sales strategy for B2B companies and we are here to tell you why.
The Benefits of Account Based Marketing for B2B Marketing and Sales in 2021
- Personalisation and Customisation: We live in the digital age and personalisation is key. With ABM, marketers are able to develop and create completely personalised messaging for specific accounts, taking what they have learned about a potential client and tailoring that information into eye-catching creatives designed to suit the potential customers individual needs. B2B Marketing & Sales in 2021 will rely on personalised communication more than ever. Customers today are more digitally savvy than ever before. You therefore need greater personalisation to separate yourself from the clutter.
- Sales and Marketing Alignment: Let's be clear, you can't have clear and effective B2B Marketing & Sales in 2021 without full sales and marketing alignment. Marketing and sales should always go hand in hand and work off one another, and ABM encourages this kind of thinking. Through ABM your marketing and sales team will work together in identifying key accounts, creating customised campaigns for accounts, and directing individual accounts through the sales pipeline.
- Shorter and Quicker Pipeline: With an ABM marketing and sales approach, you are targeting key decision makers within a company and this speeds up the sales pipeline. That's one key reason why companies need to consider implementing ABM as a part of their B2B Marketing & Sales strategies in 2021.
- Measurable Return on Investment: ABM is measurable and precise, and it offers the highest return on investment, in fact, 85% of marketers who measure ROI state that ABM delivers greater returns.
How does it Work?
ABM begins by creating meaningful segments and identifying marketing tactics that can be personalised for those segments, through channels that are most impactful for the accounts (emails, social media, paid media, landing pages, lead magnets etc).
Like traditional lead generation, ABM needs to be implemented with strategy and every part of the campaign needs to be unpacked, begin the process by:
- Identifying Key Accounts: Target business decision marketers within your industry and those who have an important role in the business you are trying to reach.
- Creating a Strong Content Strategy: You need to know what kind of content will draw the attention of your accounts. You need to be smart with your content creation, and make sure that it does not come off as a blatant sales pitch. Make sure to provide content that your key accounts will want to see and engage with - this is why it is important to know who your accounts are, what they value they can get from your business, and how you can help them.
- Distribution of Content: Once you have identified the individuals you would like to reach, you need to figure out how you can reach them. When researching your accounts, LinkedIn is a great place to begin. You will also need to set up measuring and tracking tools to help you gain insight into how these key accounts engage with your content and targeted communications. This is why Customer Relationship Management software has become sought after in the ABM world. Learn more about CRMs and how they can help your business grow, here.
If you put time and effort into your B2B sales strategy by understanding your audience, creating relevant content, promoting that content on powerful platforms, and continuing the conversation, you will make more sales in 2021.
Does your business want to put together a powerful B2B sales strategy?
If so, we can help. Nexa has been generating highly qualified sales leads for businesses of all types for almost a decade. We have both the experience and track record to help businesses in all industries generate highly qualified sales leads.