B2B Lead Generation: Leverage Account-Based Marketing

In the world of growing businesses and constantly emerging start-ups, it is easy to get lost in the sea of service providers. It becomes harder in case of B2B exchanges as they are less likely to be influenced by mass-broadcasted advertisements. What does a service provider looking for business do in this case? They turn to create leverage through a marketing strategy known as Account-Based Marketing, which is proven to yield better results than traditional marketing methods.

Account-Based Marketing is a rapidly spreading marketing strategy, promptly gaining popularity for its effectiveness in tackling the most common challenges a seller faces. ABM focuses on targeting high-value accounts for its pitches. With a narrower target audience, it becomes much simpler for the seller to accomplish their goal. The pitches become more specific, and sellers personalise their pitches based on the business they are approaching, helping them increase their overall chances of appealing to the said business. It is usually done in the form of widely available information-carrying content that can help with the discovery of your brand. It is vital that the information included in said content, which can be in the form of emails, blogs, websites, or social media, is valuable for the target customers. Once a potential client becomes acquainted with your brand out of their own interest, they are more likely to convert to customers, and there is a higher chance of them returning for future business.??

Benefits of ABM

Account-Based Marketing displays many pros in its implementation, such as the few we saw earlier. Personalization is essential to the entire process and determines the route that the development of a potential lead to a closed deal will take. The important part of any business deal is customer acquisition. Service providers will generally have detailed customer acquisition processes charted out, but account-based marketing removes the excessive steps and makes the entire process much smoother. Since the target audience is already decided and narrowed down only to the accounts that are most likely to convert to customers, the service provider can allocate more time to understanding the needs and preferences of their potential leads. This allows them to curate their communication and content to be more relevant to each separate lead.

Another advantage of utilizing Account-Based Marketing is that the seller needs only to nurture the primary decision-maker. This removes the time taken to go through and appeal to every stakeholder that might otherwise be involved in the decision-making process, and expedites the entire timeline. ABM also allows the selling company’s marketing and sales divisions to work together, thus reducing overall effort. The two divisions working alongside ensure a higher level of accountability and also improves the information network and communication within the company; this leads to long-term benefits in the working of the organisation. As previously discussed, the sales process receives a boost, and the entire sales cycle is shortened. It can also allow the company to undergo more sales cycles in the same duration as compared to earlier statistics.

An additional factor that ABM provides in ongoing business deals is brand-client trust. Clients become familiar with your brand over a period of time, and the trust in partnership grows; this further enables customers to remain loyal, improving the brand image and name. We have already established that personalization is a vital asset in ABM for multiple reasons, and all of those aside, it also allows your brand to create a unique persona, which can eventually grow into your USP.?

Having a narrow group to work with ensures that a brand can go into more detail and spend more time analyzing data from one customer, thus simplifying report results and setting goals. Perhaps, the most valuable advantage that ABM provides, however, is the greatly increased ROI. As per results from the Alterra group, 97% of companies faced greater returns on implementing ABM than any other marketing strategy. Further, as per the numbers in an ITSMA study, ABM has improved the reputation, relationships, and revenue of brands by 84%, 74% and 69% respectively.

Putting the entire picture together, it is evident that ABM is one of the smartest marketing strategies available and in use currently. It allows a business to reach more potential clients, saves time and resources, facilitates the brand-building process, and it improves relationships both within the company and between the company and the client. Most importantly, ABM gives the highest returns.

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