Account-Based Marketing to Target Schools: Why it Works

Account-based marketing (ABM) is the coordination of personalized marketing, sales development and customer concentration to drive engagement and conversions among pre-qualified customers or accounts. This concept is perfectly suited to B2B education businesses. Here's why ABM is the approach you need to target schools.

Targeting schools with ABM

The education sector is a big industry and one which is changing rapidly. It is being redefined with new technology, tools and social norms. For B2B businesses, when it comes to marketing to educational businesses, there are many stakeholders to consider, depending on what you are offering. Therefore audience consideration is crucial. This is what makes Account Based Marketing (ABM) the optimal marketing concept when targeting schools since you can hone in on your audience and cater to them.

It allows marketers to present solutions to each of the individuals involved. For instance, if you are selling an intranet software system to a school, you can deliver custom presentations to each stakeholder so that it makes sense to their needs. The board of directors will be looking for a system that meets specific requirements, while the teachers will be basing their decision on other conditions. With ABM, you are engaging with people on their level to meet their needs, and in doing that, understanding that people have different needs.

Understanding ABM for the Education Sector

Many companies are basing their marketing on lead generation strategies. However, this method does not always lead to conversion rates and can be unfocused. ABM tries to counter that, by skipping the elongated lead generation aspects and offering a more direct approach by communicating with 'leads' who are already qualified. It skips the step of sourcing leads by going in for those who have already indicated their interest.

The three cornerstones of ABM are management of your account lists, engaging with these accounts on their terms using filters and triggers (via personalized campaigns) and measurements, where the accounts are then scored, and insights are extracted. To achieve this, the following is needed:

• Automation
• Segmentation
• Cross channel support
• A collaboration between sales and marketing
• Predictive technology
• Data and analytics

Based on the above, it is clear to see that ABM is a marketing concept that relies on technology. It is a strategic focus on potential revenue, whereby the process of interacting with people who are serious potential buyers are engaged with. In other words, all interactions are qualified. The technological aspect includes the use of predictions. This is based on historical data, CRM data, selected target audiences, and information from salespeople.

For ABM to be successful, you need your ideal customer persona (ICP) to be clearly defined. Once you do, you will develop a carefully orchestrated plan. You will present these people with high-value offers using multiple channels and guide them through the process of a sale. It is a strategy that needs to be supported with the following elements:

• Marketing engagement: Whether it's direct messaging, hosting events, distributing content, ending direct mail or digital advertising. All of these aspects can be conducted by educational B2Bs, with direct and specialized communication and demo's being key.
• Sales engagement: Engaging with people via the likes of email and social media channels to facilitate sales and maintaining these interactions in a timely fashion will help when working with schools, which often operate according to seasonal time frames.
• Content: Sharing content on your website that is customized to suit your ICPs. Schools will have different needs and preferences, so catering your offering to meet that will help move them forward.
• Measurement: ABM requires robust reporting, with the most important insight being the measurement of engagement with your brand. This requires more intensive analytics and insights to be drawn, so each interaction you have with a school needs to be recorded and evaluated.
• Data: Data is essential for ABM as it helps with predictive content, account details, and contact information. Storing and managing data is paramount, and having predictive technology makes for improved productivity and marketing on your side.
• Infrastructure: For ABM, you will need to use various tools that assist in automation and CRM software to support and carry out the strategy. This will help you in centralizing the interactions you have with each school.

How this approach impacts the Sales Funnel

Let's talk about sales models or funnels. Traditionally, there are the awareness, interest, consideration, and loyalty stages, starting out wide and narrowing down as you go along. That is generally the model which focuses on leads. With ABM, that is flipped on its head. The process begins with acute identification which then moves on to expansion, engagement, and finally the advocate stage.

So with ABM, the focus is on individual accounts instead of leads. In order to utilize this marketing concept, it requires the buy-in of everyone at the business, including management. It is not something to add or try; it is an approach that requires a full commitment. Data is used in order to determine fit, intent, and engagement, using a variety of tools.

The reason that engagement is the primary measure with ABM is that time is valuable, and any time spent with your brand or business is validation. When analyzing the data, marketers will need to segment these interactions into tiers, as this helps them deal with each account in accordance with their place along the buyer's journey. The tiers are there because not all interactions with customers are equal. These marketers will need to employ use of specific tactics to engage with these potential customers. The laser focus is all about concentrating on what matters and what will have an effect.

ABM in the educational B2B sector

With ABM, marketers identify and manage account lists. There are various sectors that use this approach, with targets falling into categories. Once these accounts have been identified, they are then prioritized. Each target will have their own journey or experience with your brand, and that is catered to. When content, such as websites and emails are personalized to this degree, there are higher conversion rates. This is, in part, thanks to the context that aids these sales conversions. Successful sales can subsequently also increase cross-sales and customer retention rates.

Since ABM marketers know the target is interested in buying, they interact with them in a personalized manner that helps them move forward with the purchase. This means dealing with a smaller group of people, rather than marketing to the masses. It brings together marketing and salespeople in a collaborative effort, which is why analytics is an integral part of the process. It is also important to know precisely where each potential customer is at, whether their interest is active or passive.

This makes sense in the educational B2B sector. Even though the number of schooling options is increasing, there is a selection of schools that your business will be targeting. Once you have identified the schools to target, you can develop plans that are specific to them, which will result in more effective marketing. By taking on a school as an 'account,' they are not just another number. You are giving them your attention and thus developing a long-lasting relationship with them.

To wrap things up

ABM is a marketing concept that is proven to work. With personalized marketing campaigns that align with sales, you are geared to generate increased success rates. This approach is beneficial for B2Bs. With the education sector being in a phase of reformation, targeting a school using precise methodology is highly recommended.

Work with an agency that understands ABM

Book a meeting with us at Nexa to discuss how ABM can work for your business. We have all of the tools and specialists necessary to manage the process for you. For CRM that facilitates this marketing concept, talk to us to find out more about our partnership with HubSpot.