ACCOUNT BASED MARKETING – WHY SHOULD BUSINESSES CONSIDER IT?
Account-based marketing, or ABM, has been around for a very long time, but only now are people really starting to pay attention to it and implement it more frequently and consciously in their marketing campaigns. This involves taking your resources and putting them into target marketable accounts. The business strategy uses customized campaigns to engage each account individually. These campaigns are developed with account specific needs and wants in mind.
Account-based marketing is considered revolutionary and cutting-edge by many in the industry. This is because the strategy looks at marketing holistically, while older techniques focus too much on lead generation. A key attribute of account-based marketing is staking and using larger accounts. This means that your goal is to try to upsell and cross-sell your larger accounts to get more out of them, rather than spending time on a seemingly endless and tiresome lead generation cycle.
Account-based marketing benefits both the business and the customers.
This is also one of the reasons why people are drawn to it. A personalized and personalized marketing experience.
A better understanding of your customers gives you an edge over your competitors and allows you to strengthen your business relationship with that customer. A personalized marketing campaign can lead to better and more sales. A big part of account-based marketing is adapting marketing techniques to larger accounts. By finding out the customer’s expectations, wants and needs, you can tailor the marketing campaign just for him and for him.
More realistic ROI expectations
Account based marketing is known for producing higher returns than any other marketing strategy. It offers the highest return on investment (ROI) of any other B2B marketing strategy. The new strategy provides more accurate ROI than the website promotion company can expect. This, in turn, allows companies to better understand how their customers respond to certain advertising techniques. This means they have more control over which tactics work and which don’t.
Strategic use of existing, scarce or limited resources
An account-based marketing approach focuses on a smaller number of accounts at a given time. Because they work with fewer accounts, they are more likely to move those accounts into the final sales process. In fact, you can do more with fewer resources. It also frees up resources that were previously spent targeting many businesses. So businesses using account-based marketing tactics can now use these free resources to perform and focus on other tasks.
Significantly reduce sales time
When your sales and marketing teams work together to align and move accounts through the sales pipeline, you’ll notice a significantly shorter sales cycle. Your teams don’t have to juggle multiple moving parts separately. Rather, you’re streamlining the process and making it easier for everyone to retain your company’s current leads and customers. It also makes it easier to serve these specific customers, ensuring that their concerns are addressed appropriately and in a timely manner. They don’t get lost in the noise.
Better, more efficient and effective marketing and sales alignment
Marketing teams and sales teams should be more likely to work together to achieve goals and sales together. By combining these units, they can perform important tasks as a team rather than alone.
Specialization: Thought Management
Neil Patel is the co-founder of KISS metrics, Crazy Egg, and Hello Bar, three tools that almost every Salas marketer knows, and the founder of Quick Sprout, which helps businesses increase traffic and make more sales online. Neil also actively consults, invests, blogs and speaks all over the world; in short, he knows what it takes to be a successful entrepreneur.