What are the key steps and best practices for building an ABM strategy?

1. Know Your VIPs: Understand your target accounts inside out – their needs, challenges, and dreams. 2. Team Up (Sales + Marketing):Unite your sales and marketing teams; they're a dynamic duo. 3. Cherry-Pick Targets:Select high-value accounts strategically – quality over quantity. 4. Craft Personalized Content:Speak directly to each account's pain points and goals. 5. Multi-Channel Blitz:Engage on various platforms – email, social, ads -with a consistent message. 6. Tech Tools:Embrace marketing automation and CRM for efficiency. 7. Metric Check:Monitor clicks, opens, conversions focus on what matters. 8. Feedback Loop:Stay agile; adjust based on sales team insights. ABM success is in the details nail them, and you've got a winning strategy!

Key things to consider as you map out strategy to id your target accounts. "Data is the new oil" What are your most recent 'wins' vs. what are your closed lost reasons telling you. Time to move past status quo bias and really dive into the data. The most recent data, not overall historic, but rather to get a pulse on things. What has happened the past 6 months, past year. Leverage these data points for a strong foundation when building out an ABM ICP.

Focus on deep personalization at scale for an effective Account Based Marketing (ABM) strategy. ??? Use data and insights???? to create highly relevant and engaging interactions that resonate with key decision-makers, enhancing the likelihood of conversion and fostering stronger relationships.??????

When researching and mapping each account from the target list, I first want to understand the organizational structure and how decisions are typically made within the accounts. This way I can identify the entire buyer committee such as decision-maker, road blockers, influencers, champions, procurement, and users to align the contact data and insights to the right content strategy to pursue, connect and engage with relevancy.

Prioritize relevance and value over mere download numbers, MQLs, or engagement rates. A tracked touchpoint doesn't guarantee effective progress in the buyer's journey. In B2B, tracking a touchpoint is overemphasized while its actual impact is often overlooked. For instance, counting e-book downloads holds less value if actual engagement isn't measured. What truly matters is the touch's IMPACT <3 B2B Marketers mistakenly assume nurturing trackable low intent leads yields high intent ones. The process isn't as linear as early 2010s models suggested. True conversions stem from high intent contacts with no prior trackable touches. Dark social plays a pivotal role here.

Building relationships with top decision makers at the account is a critical goal of an ABM plan. To do so, it is key to go beyond the traditional digital and event marketing tactics. For example if you do some research and find that the account is vested in environmental causes; if your company shares the same goals, you could do some joint volunteer work ( e.g. plant trees together). Sharing experiences and having a common goal beyond business, builds long lasting relationships.

I would say that aligning sales and marketing is the first step. This partnership is the foundation for a successful ABM strategy. Together, based on research and results, they will set the goals and define the strategic plan for each account.

The top metrics ABM programs should focus are the three Rs: 1) Reputation (perception, awareness, knowledge) 2) Relationships (Account engagement, Relationship strength, etc.) and Revenue (pipeline and revenue per account, growth, deal size, etc.).

When defining and ABM strategy, it is also key to consider what type of ABM best aligns to your business goals / situation. One-to-One, One-to-Few, One-to-Many. This will have implications in resources and budget required; and the strategy is defined and executed differently.