In order to achieve B2B marketing objectives, marketers need to be more focused and be able to narrow down the high-potential target audience and prospects that are most likely to convert. Account-based marketing or ABM should therefore be one of the mainstream marketing activities that can generate high revenue and create a more sustainable marketing business model with the best returns.
Let us see how one can optimize ABM initiatives for discovering high potential accounts, relationship building and higher conversions.
Discover potential customers
One of the critical things b2b marketers need to do for successful lead conversion is to identify their target accounts and know where the prospective clients spend their time online. Unless you know where to look, you cannot decide your future strategies like how to approach the prospect, which channels to use etc.
A healthy collaboration between sales and marketing functions will accelerate your efforts in targeting the potential clients. With both teams on the same page, you can collate to find important data through firmographics, demographics, geographical location for creating appropriate buyer persons. Apart from this, you also need to invest in research that will allow you to find out more about the latest trends, the buying preferences, competitor analysis and more.
Focus on key accounts
ABM is all about establishing key accounts so that you can dedicate resources, time and efforts to convert these high potential prospects into customers. The sales and marketing teams need to collaborate at every step for best results. The sales teams need to know the efforts taken by the marketing team and the details of various strategies being deployed by the marketing team On the other hand, the marketing teams need to know the information and details of the prospects that the sales team have with them.
This kind of exchange of information between the teams will allow both the teams to implement focused ABM initiatives for highly potential accounts that are most likely to convert. Also, focus on timing and relevance when it comes to these high value accounts. Things such as when to approach them, what channels you must use to communicate with them and the type of messaging to be used etc. will help you to achieve your objectives.
Adopt personalization
When high target accounts are in focus, generic messages do not work. You need to adopt and implement high level personalization in all your messaging and communication. This will not only help you develop strong rapport and build some solid relationships with the clients, but it will also increase your chances of conversion. Customized email messages and offers always work way better than robotic or generic messages.
Account based marketing will work only if you treat every single account on your list with high importance, focus and exclusivity.
Exclusivity through personalization could be the secret sauce of your ABM success.
Conclusion
ABM can bring great ROI if you focus on identifying the right target accounts, nurture the leads, adopt personalization, and when sales and marketing teams collaborate.
To fully understand ABM for your business, work with experts and save your time, money and efforts for more sales and better ROI. Get in touch with us for more insights and guidance on how to go about planning and implementing ABM.