15 Important Advantages of Account-Based Marketing for B2B Businesses

To give you some context, account-based marketing is a type of marketing that focuses on developing customized messages for high-value clients. For instance, let's say that you are a B2B cloud service provider looking to offer your services to a reputable company that isn't yet using the cloud. You should approach them using an ABM method. Your initial step should be to choose a small group of the firm's top decision-makers. The following step would be to start a personal dialogue with them.

Although account-based marketing is nothing new, it has just returned to the spotlight. One of the main causes of this is the demand for a personalized experience among modern clients. The plan makes use of technology and data to ensure that the communication is highly relevant to the target audience.

Account-based marketing offers many advantages, particularly for B2B businesses, from improving marketing and sales to improving the effectiveness of the marketing funnel. We'll go over the top 15 advantages of account-based marketing for B2B businesses in this article.

1. Team Alignment

The Marketing and Sales teams must get together and cooperate to choose the appropriate group of target accounts when using account-based marketing. The cooperation between the teams heavily influences the competitive advantage that the company obtains from ABM. With this approach, the teams serve as the central hub for determining which accounts are the most crucial and who is responsible for taking care of them. The marketing team, on the other hand, tries to interact with them in pertinent, timely ways. Teams improve their effectiveness and productivity in this way.

2. Cost-Effective

With traditional marketing tactics, you have to put more effort into creating content for many sources and channels. It's a pricey affair. ABM, on the other hand, entails focusing your marketing initiatives on specific accounts. As a result, you don't need to invest in other accounts, which greatly reduces the costs. Additionally, you can save spending even more by utilizing more recently social networking solutions.

3. Decreased Wastage

Another benefit is that you save time and money by not having to produce new content. You are aware that you have a list of high-value accounts to target in ABM and their pertinent data. With this, you can stop spending money on developing a straightforward sales message. Instead, you may build precise campaigns without wasting any time or deviating from the original plan.

4. Data-Driven

ABM is a strategy that heavily relies on data. This characteristic by itself has a number of advantages. The communication becomes more trustworthy and pertinent as a result of the data insights. The data also allows for the personalization of the communication. Making better decisions about the client you are targeting is another advantage of being data-driven.

5. Better Customer Acquisition

One of the most effective methods for nurturing important company leads and prospects is through personalized content. What ABM does is this. It also gets rid of bad leads that don't turn into sales. Therefore, you place a greater emphasis on the prospects and elevate them. Consequently, it facilitates consumer acquisition.

6. Maximum Use of Marketing Automation Tools

ABM dispenses marketing content to the intended audience using data and marketing automation tools. Modern marketing automation programs like HubSpot and Marketo are incredibly efficient. They make it easy to customize to the fullest extent. They can incorporate more effective CTAs, dynamic functionality, and better images into the material. As a result, marketing automation solutions are used to their full potential and relevant message results.

7. Faster Way To Close Deals

The closing rounds in conventional sales processes typically involve a number of participants. This frequently causes the procedure to lag. But with ABM, you already have some sway on the people who make the ultimate decisions. This is a result of the lead nurturing and targeted content initiatives. As a result, it quickens the sales process.

8. Higher ROI

ABM prioritizes focused marketing efforts, which reduces the use of a shotgun strategy. Furthermore, there is minimal resource waste because the emphasis is on particular accounts. ABM produces opportunities with great value, little investment, and higher returns. At the same time, tracking ROI becomes simpler as a result of the increased communication between the marketing and sales teams.

9. Better Reporting

Setting goals is a narrow process due to the ABM's laser-focused methodology, which also makes measuring KPIs a limited endeavor. It is simpler to set goals, assess what is working and what is not, and record the outcomes.

10. Helps Get Closer to Customers

For all of its aims, traditional marketing methods typically involve mass communications. This type of message is no longer acceptable. ABM concentrates on interacting with the target audience through customized communications. As a result, marketers are better able to comprehend and interact with the target accounts. They are able to interact with the clients more personally as a result. This strengthens your relationship with them and creates the way for their loyalty.

11. Better Customer Engagement and Retention

If you have any marketing experience, you are probably aware of the proverb "Acquiring new clients costs more than retaining existing ones." This has also been stated in our earlier articles. ABM emphasizes that creating tailored content is one strategy to engage and keep customers. You may gain the trust of your clients and create enduring relationships with them by providing customized content.

12. Boosts Conversion Rates

Reaching out to high-value accounts (decision-makers) and making a sales proposal to them are both parts of account-based marketing. For this, the marketing and sales teams collaborate to conduct research about the client, their preferences and needs, and the most effective times to contact them. Additionally, the research includes information on the platforms that are suitable for them and the recommended frequency of communication. Using such a well-thought-out strategy when contacting prospects increases the likelihood that they will convert.

13. Increases Contract Value

By placing more emphasis on customers who are most likely to succeed with your product or service, ABM marketing techniques boost transaction sizes. All of your efforts are focused on attracting clients who are more likely to stick around. In light of this, the contract value for ABM-targeted accounts for mid-market clients increases by 40%. The contract value increases for business clients by 35%. Those numbers can potentially result in significant expansion for your business without the need for further acquisition funding.

14. Improves Consistency

Businesses must interact with their customers in order to succeed, especially B2B companies. The majority of businesses often prepare various types of communication for various platforms. For instance, the message on LinkedIn differs from the communication that was written for Instagram. The messaging becomes inconsistent as a result.

ABM provides each person in a targeted account with a consistent experience across all interaction channels. Account-based marketing benefits you since it keeps everyone's objectives in line and moving forward.

15. Opportunity To Become a Marketing Expert

ABM demands that you get to know each of your target accounts better on a personal level as opposed to acquiring a general understanding of the market. This entails extra study, but it also results in expertise in a field in which the majority of individuals have only a passing familiarity. When you approach each account as a thorough research project for a marketing plan, you automatically stand out.

?

A Conclusion

Account-based marketing (ABM) is simply effective marketing, in our opinion. Here, the target is a particular group, the messaging is focused, and the objective is obvious. So, unless you lack motivation, there is no reason for it to fail. We have compiled the top 15 advantages of account-based marketing as a result. Given these advantages, we advise you to implement them right now so you can benefit.