ABM or Account Based Marketing is gaining huge popularity in b2b and for all the right reasons! It’s a great and focused way of nurturing and getting those leads converted. However, if your ABM campaigns lack strategy and analysis at various stages, then you could face a few challenges. Certain factors may not match up to your expectations when it comes to the results.
Things such as use of irrelevant content, too many expectations in less time, flaws in defining the target audience etc. can contribute to the failure in ABM. Marketers can take this opportunity to monitor, supervise and analyze their entire ABM campaign and make necessary changes to avoid future mistakes.
Here are some factors that could hamper your ABM efforts and how you can fix them:
Incorrect profiling of target:
ABM begins by choosing wisely. It is about making no mistakes when it comes to profiling the target audience, it is about Ask the right questions to get the right answers. The biggest mistake markets can make is in creating wrong or incorrect profiles of their target audience and a lot of loose ends when it comes to getting to know the target well. Make sure you know how your ideal customer looks like.
If you are not clear of the criteria you will not be able to focus on the right prospect or organization at the right time. Make sure you invest your energy in knowing the right answers to some of the questions such as the industry they belong to, the number of employees, the key decision makers in the company, the services that you want to propose to them, are they aligned with their business goals. If your answers to all these questions are appropriate then you can be sure that you are in the right direction.
Too many expectations:
Though ABM is a great way to get those leads rolling and conversions too, it is not an overnight success formula. It takes considerable time, efforts, consistency and perseverance along with the right techniques to make ABM is a huge success. So much has been written and being talked about the miracles of ABM that marketers are bound to feel that this is a sure shot way to success. It can be only if done strategically, but at the same time, having too many expectations and in less time would be a mistake.
Irrelevant content assets:
Content is at the foundation of long lasting relationships in b2b. Content assets are instrumental in ABM success. If you think just having any content asset can influence your audience, then you are mistaken. Content assets make sense only when they are relevant to your target audience. Sending irrelevant content assets to your prospect can make your efforts in ABM campaigns go waste. Many times marketers wonder where things are going wrong, when they have not paid attention to content.
Make sure you choose the right content for the right audience or organization that is your target audience and you will reap huge benefits in ABM.
Conclusion:
Account based Marketing is a much focused activity in b2b. Any focused activity is bound to produce great results. But this in no way means that marketers can be complacent and put all faith in ABM without a proper strategy and understanding of the target audience.