Promising Benefits of Account-based Marketing to Implement in 2023

 Account-based Marketing (ABM) is not a new tactic in the marketing world. But it has evolved like never before. It mainly focuses on creating personalized communications using data and automation to ensure that communication is highly relevant to targeted high-value accounts.

With its personalized approach and attention to detail, account-based marketing allows you to tailor your customer’s needs effectively.

According to a survey by SiriusDecision, 70% of a B2B marketer’s budget was used only for ABM in 2016; this might grow in the near future. And according to Forrester, a lot of new start-ups are comfortable investing in ABM.

IN THIS ARTICLE

What is Account-based Marketing?

ABM is a well-known B2B marketing strategy that enables your sales and marketing team to address the pain points directly and offer unique solutions to high-value accounts.

ABM strategies acknowledge such B2B purchase decisions that are majorly made by any set of individuals in a company. So, rather than promoting your product or service to the general audience, you can target the stakeholders or an actual business with ABM.

Rapid technological growth, data accessibility, and sophistication gave rise to ABM, which now interests many companies. Tools such as Customer Data Platform (CDP) and Customer Relationship Management (CRM) gather customer data to help compile the best companies to work with.

Promising Benefits of B2B Account-based Marketing

Account-based marketing comes with many direct and indirect benefits. You may use your ABM strategy with website personalization, digital advertising, or email marketing. With proper implementation, you are surely going to get the below incredible benefits:

  1. Market and sales alignment becomes exceptionally easy
  2. Improves consistency and engagement
  3. The prime benefit is an increase in ROI
  4. Shifting the focus to retention
  5. Maximize capabilities and potential of Marketing Automation tools to save time
  6. ABM Strategy -> Right Target -> right leads -> More Revenue
  7. Greater opportunity to be expert
  8. Primary trust building is done by ABM
  9. A way to stand out from the crowd
  10. Better Reporting
  11. ABM helps to listen to your customer
  12. ABM builds content that interests customers
  13. Well-optimized and effective funnel
  14. Speed up the sales cycle
  15. ABM helps in expanding your budget
  16. Team development

1) Effective collaboration between the marketing and sales team

There should be good cross-team collaboration and effective communication to focus on the same goal. In the context of ABM, alignment of the marketing and sales team promises more transparency and efforts toward the same purpose.

Also Read: Boost Your ABM Strategy with Intent Data

This alignment assures consistency concerning all the interactions, communications, and content for the accounts you are working with. There is no space for confusion for team members or customers. Irrespective of how long an account works with the company, a continuous and seamless user experience is guaranteed.

 2) Improves engagement and relevance

ABM ensures consistency in experiences among all accounts for each individual at every possible step. The benefits of using the ABM strategy are the unification of everyone’s goals and unity in moving forward.

For B2B, continuous customer interaction is essential for your business to expand. So, different communication channels create inconsistency as companies plan different ways of interacting for platforms such as Facebook, Instagram, LinkedIn, and other social media.

ABM unifies these accounts and makes everything aligned and up to date. So, there is no inconsistency in messaging and overall content.

3) Increases ROI

Measuring Return On Investment (ROI) is easy with account-based marketing of the accounts where you invest your resources, time, and talent.

Doing this you have two benefits:

  •  You can confirm whether a certain account you are investing in is ideal for your business or not. If it is a perfect account, you can continue nurturing and delighting those accounts.
  • If it is not a definitive account, you can shift your focus onto other ideal accounts and propel your strategies further. It is like a low-investment and high-value opportunity.

4) Shifts the focus to retention

Founder of Ubbersuggest, Neil Patel, says, “It costs seven times more to attract a new customer than it does to retain an existing one.” Customer retention is a significant step to drive your success in B2B marketing.

An ABM strategy helps retain current customers and expand their connections with the company. To maintain a steady revenue stream, keeping more focus on existing customers is essential. Because acquiring new potential customers can be expensive.

5) Maximize capabilities and potential of marketing automation tools

Combining marketing efforts with technology helps you systematically proceed with your campaign. Marketing automation with an account-based strategy provides the following benefits:

  • Effectively targeting all C-suite executives within an account helps unify experiences among organizations.
  • Automation in account scoring, activating campaigns and workflows inside and outside of the inbox.
  • Constructive linking of buyer behaviors and data among contacts for a unified account view.
  • It can enable maximum personalization with minimum effort.
  • It boosts relevant messaging.
.
.
.
.
.
Read this entire article here : B2B ABM benefits

Comments

Post a Comment

Popular posts from this blog

MQLs vs. HQLs: Which One to Choose?

  B2B enterprises work with regulatory marketing budgets. This makes it crucial for them to prefer the leads that can fetch their business a decent return on investment (ROI). Marketing Qualified Leads (MQLs) have shown mere interest in your products and services, whereas Highly Qualified Leads (HQLs) are at the edge of making a purchase. These leads have greater potential value and are more likely to buy. Generally, marketers put in enormous efforts to rope in all the available leads without striving for proper classification. As a result, they spend more time and money with very little or negligible potential leads in their hand. Here arises the need to evaluate all leads and their buying intentions. After evaluating leads, only the best ones can be pursued. Such assessment helps to make wise decisions about pricing. Let’s glance at the major differences between MQLs and HQLs, their respective benefits and detriments, and the deciding factors for pursuing the leads. What is an MQL? G
Read more

Ultimate Guide to B2B Data

  One of the best strategies to promote your product or service is to come close to you’re your audience want. Imagine you are running a pizza restaurant. You can’t be serving your audience burgers because they are there to have pizza! Now, you see our point! When it comes to B2B marketing, it is all about knowing your audience well and personalizing your marketing efforts based on that. Here, data is one of the most significant contributors and forms the backbone of decision-making as it helps build a targeted list of pre-qualified leads. But not all information is beneficial for businesses.  B2B data  is a prerequisite to sales and marketing activities – it does not matter which industry one is catering to. This blog will discuss everything you need to know about B2B data, types of data, uses of B2B data, and the best ways to source B2B data What is B2B data? Put simply, B2B data refers to that information that can be used by an organization to power its marketing campaigns. This ric
Read more