Who uses account-based marketing?
Companies looking to get accurate user intent data to simplify their customer analysis have found ABM strategy to be more effective rather than taking a broader approach to their sales and marketing initiatives. .
Account-based marketing is a strategy and not a technology. There are usually four purposes to adopting an account-based marketing approach:
Improving sales cooperation
- Cross / sell up existing buyer accounts
- Buy new logos
- To enter a new / vertical market
- The benefits of account-based marketing
- The importance of ABM attributes is realized when traders use it to their true potential. Here are some of the benefits of this strategy.
High return on investment - Effective ABM placement can achieve higher business NEW. The 2014 ITSMA Account Based Survey stated that "ABM provides the highest return on investment of any B2B marketing strategy or tactic"
Reduced resource waste - The focused nature of the ABM strategy allows traders to feed their resources efficiently and run only those marketing programs that are highly optimized for the target accounts.
CONNECT WITH A DEDICATED DECK7 ACCOUNT MANAGER - https://deck7.com/request-account-based-marketing-services?utm_source=Niranjan&utm_medium=Steemit
Personalized and optimized - This ABM tactic requires personalizing your communications and messages to specific accounts, so that your campaigns resonate with these target audiences. With an AI-infused ABM strategy, customers are more likely to engage with content that addresses them directly and is relevant to the business and their stage in the buyer journey.
Clear goal tracking and measurement - it's easier to draw a clearer conclusion based on the effectiveness of campaigns whether email, advertising, web or event, for a smaller group of target accounts instead of a large group of measurements.
Sales and marketing alignment - Account-based marketing is one of the most effective ways to approximate sales and marketing. This is mainly because a trader, when running an ABM program, operates with a mindset very close to sales - thinking about accounts and how to run them best.
Successful examples of account-based marketing
Here is an example of how Engagio ran its first ever ABM campaign and with excellent results through a unified multi-channel approach.
Complex Account Based Everything Bonaza - Engagio
Target accounts: 300
Purpose: 20% of those accounts turn into opportunities (65% of Qualified Marketing Accounts for engagement with a 30% meeting rate)
Marketing: owns the initial configuration and execution of the campaign, brings MQA to sale
Sales: owns the tracking of each response and MQA, turns engagement into opportunity
Channels used: human e-mail from / to multi-player + Live mail package + LinkedIn profile views + LinkedIn messages + Calls + Account-based advertising
Engagio found that engagement with the campaign did not cluster around a particular channel; was dispersed.
Key Acceptance: Multichannel access is essential for maximum engagement. It is important to hit all the different points of contact, so that we have the answer of all - and always give value, regardless of the channel.
LiveRamp
In order to engage potential customers, LiveRamp adopted a multi-channel approach that allowed teams to book several meetings with Fortune 500 companies.
LiveRamp credited their success to five key initiatives:
In order to engage prospective customers, LiveRamp adopted a multi-channel approach that allowed teams to book several meetings with Fortune 500 companies.
- Strong alignment between their marketing teams and SDR
- Their high value, regional thought leadership events that emphasize learning and development
- Cohesive engagement and messaging through personalized show ads, email marketing promotions, multi-touch SDR
strategies, and direct mail - Automation
The team used a hyper-focusing approach to creating target lists and took this strategy to come up with 15 high value clients. This resulted in a conversion rate of 33% from cold to appointments within a time frame of four weeks. LiveRamp also found that their ABM campaigns performed significantly better than their extensive campaigns and generated a 2x increase in previously dormant accounts as well as a 10x increase in revenue from year to year.
Key point: It is necessary to integrate multiple initiatives in order to create a successful ABM campaign. LiveRamp hyper-targeted approach coupled with strong coordination between their teams as well as their high value offerings that sought to educate and inform their seamlessly integrated prospects, resulting in success. This is one of the many examples of account-based marketing that has proven to be successful.