Being Selective with Account-Based Marketing
We all struggle with trying to get a lead to close on a purchase. How should you address this? Account-based marketing is a strategic solution for getting those high value accounts to close.
Account-based marketing, which is also referred to as key account managing, is a marketing strategy that prioritizes and targets higher value accounts. The intent of account based marketing is to increase revenue and lower the number of resources used.
What is it?
Account-based marketing is a strategy that fuses the marketing team and sales team together. The two teams should be working closely to effectively and efficiently target high value accounts.
Account-based marketing, or ABM, is marketing focused at the account level as opposed to lead generation marketing focused on the creation of leads or even traditional marketing that prioritizes quantity over quality.
How do you use account-based marketing?
In order to make ABM successful, you should first identify which accounts are high value. These accounts should be the ones that are most likely to demonstrate a return. After you have defined who your ideal customer is, you should focus on identifying the key influences in the company as well as what their purchasing motives might be.
Once you have determined the key influencers in a company you can start the communication process. You should be communicating with them and not at them. This is the point in your ABM timeline where you should begin crafting and sending custom content to your leads.
This can be done by organizing and planning custom touchpoints that address specific questions and concerns your potential customer may have. If you’re speaking with a lead and they begin asking you about a function your product has you should answer their questions but also send them an eBook or blog post about the topic. By doing this you are demonstrating the knowledge your company has as well as starting a touchpoint model.
Multi-touch attribution marketing is an important component in ABM because it allows you to help control and influence their purchasing journey.
Account-based marketing is a strategy but it is also a way of thinking.
Stay tuned for What You Need to Know and The History of Account-Based Marketing, the next post in our ABM series!