Accounts Based Marketing: Getting Started
Accounts based marketing (or ABM) is the art of creating long-term relationships that ensure buy-in throughout the sales pipeline. It works in tandem with traditional lead-focused marketing tactics that are less specific in their targeting and focus on the individual buyer rather than the account. Key features of ABM include building relationships, strengthening credibility and researching the key accounts that you are targeting.
So what does all of this mean for you? According to research, companies who invest in ABM experience an overall higher return on investment along with increased reputation, more relationships throughout teams along with increased revenue. Considering weather or not ABM makes sense for your team is a question of who your existing and desired clients are. If you are looking to acquire Fortune 500 accounts, then ABM is probably a great idea. If you are in an industry that sells directly to individuals, this approach may be less of a priority.
If you are indeed wanting to incorporate ABM into your sales and marketing efforts there are a few first steps your company can take right away:
- The first step is to take a look at your revenue generating efforts (ie. sales and marketing) and be sure that alignment is strong between these teams as this is an endeavour that requires meaningful content driven communication for both sales and marketing.
- The second step will be to figure out who your key accounts are. Begin by looking at existing clients to see who has already bought in. How can you expand and deepen those relationships throughout the company? The second part of this is to consider companies similar to them in terms of their need, size and industry.
- Once you know what accounts are most valuable, identifying 10- 20 key stakeholders within each company will be your priority and will help you create goals, plan out your messaging and create content. A good part of this step is purely research-based.
Once you’ve identified your contacts, you’ll create an outreach strategy and develop custom content that speaks directly to their needs – like slide decks, animations, white papers, and landing pages.
It is important to understand that ABM is a long-game; it requires preparation and leg work in order to succeed. Restructuring time frames may be a good idea since you’ll be spending more time discovering and researching.
Read Engagio’s article to learn more about how to plan and implement Accounts Based Marketing into your sales strategy:
Call us today to learn how we can help you generate the content needed to create an effective ABM campaign!