Account-Based Marketing (ABM) in 2023

Account-Based Marketing in 2023

Focusing on account-based marketing (ABM) in 2023 is ESSENTIAL to cut through the noise. Sending spray and pray campaigns are a thing of the past.?

Driving more personalised marketing in our communications strategy is expected by customers.

In simple terms, ABM is the use of a combination of expertise from the sales and marketing teams to target a specific group of contacts with the goal of creating a tailored experience and improving conversions.

In this article we'll discuss at what ABM is, why we consider it to be beneficial as well as how one can get started.

Account-Based Marketing, Hmmm What’s That????

It’s all about targeting the right people with the right message at the right time.

ABM is a more targeted approach to selling. It focuses on ‘best-fit’ contacts, those that have expressed interest in a specific product or service. Campaign messaging and content is highly personalised and relevant to the contact.

Okay Fine, But What Are The Benefits of ABM?

1. Improve return on Investment (ROI) ??

Implemented effectively, ABM has the power to drive precise results for any business. According to?Michael Rodriguez from Demand Gen Report , 76% of marketers saw a higher ROI with ABM in comparison to any other marketing strategy.?

But why? It’s about generating and nurturing qualified leads. The personalised messaging provides value, meaning people are more likely to engage and convert.

2. Easy tracking and measurement goals ??

Analytics around ABM is spot-on in terms of clarity and accuracy.?

Coming to a conclusion when analysing campaign performance is easier because you have the ability to look at a smaller set of targeted accounts rather than your whole database.?

3. Enhances engagement speeding up the sales cycle ?

The goal of ABM campaigns are to hit a nerve with the target audience (In a good way).

Targeted clients are more likely to engage with content that is tailored to their interests and the stage they’re at in the buyer journey. In the past (before AMB), sale cycles were delayed because clients would have to wait for the right communication to come through before completing their purchase.

There are many more benefits such as: building relationships, sales and marketing alignment and a better focus of resources, but we'll just focus on the main three in this article.

So Then Tell Me How to Get Started With ABM?

1. Identify your targets

To develop an ABM strategy, you first need to identify who you are targeting (let's not waste time shooting in the dark guys). You need to define buyer personas.

You also want to make smart choices... prioritise high-value clients based on deal value, market influence and purchase potential.?

You also need to understand the targets and what makes them tick... for example:

• Clients who are interested in 'product a' may want as little touch points as possible and have already done their research.
• Clients who are interested in 'product b' may be part of the anti-tech movement... they need all the help they can get.

Pro Tip: Discuss each buyer persona with your community managers and sales team... they know best.

2. Define and personalise your content

Think about how your messaging and content can help the targets with their challenges and personalise it accordingly. Ensure it's trustworthy, informational, and authoritative.

3. Choose relevant channels

To ensure your targets are genuinely engaging, making sure you're reaching out to your targets on the right platform is essential to the success of your ABM strategy.

4. Measure and optimise

Once your ABM strategy is in full swing, it's vital to measure your marketing activity relating to your target accounts.?

Take time to learn which channels and what content yields the best results and adapt your strategy accordingly to improve the efficiency.

5. Automate

Automation can make managing tasks much easier for your employees. Look at?automation tools (eg. Hootsuite , HubSpot etc.) that can help speed up and optimise processes.?

Wow, you made it to the end ??. Thanks. I guess I'll see you next time

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By: Jonty Stander ??