Getting Started with Account Based Marketing - A Beginner's Guide

Hello

In my previous article, I talked about why gated content hinders the ABM performance . If you're planning to implement ABM, it is a must read article.

I am back again with an article on how to get started with ABM. In this article you'll understand step by step basics of getting started with Account Based Marketing.

ABM is a marketing approach where businesses focus on a select group of target accounts in a market. It involves crafting tailored campaigns to connect with each account, using marketing messages that resonate with the account's unique characteristics and requirements.

It is a strategy that is becoming more and more common for B2B companies that target large accounts, such as governments, or enterprises. ABM has numerous advantages over other marketing strategies for businesses looking to sell into large accounts with lengthy sales cycles and substantial deal sizes.

Get Started with ABM

1. Pinpoint your top-tier target accounts
2. Dig into research on those accounts
3. Categorise and rank your list of target accounts
4. Craft personalised marketing campaigns
5. Track the performance of your personalised marketing efforts

Let's talk about these steps in detail.

Pinpoint your top-tier target accounts

High-value target accounts are the crème de la crème, the accounts that can bring in the most revenue for your company.

These accounts align with your ideal customer profile(ICP), meaning they're the ones who will benefit the most from your products and services while also providing business value to your company.

Dig into research on those accounts

Capture a clear picture of your customers' needs and challenges, along with their stage in the buying process. While the firmographic info in your ICP and target account list identifies who your customers are, it doesn't guide your marketing approach. Your research should uncover:

• Their specific challenges
• Their existing solutions
• The shortcomings of those solutions

With this insight, combined with your data-driven tactics, you'll be able to craft the precise messaging and campaigns that are vital for nailing ABM.

Categorise and prioritise list of target accounts

Even though ABM is super personalised, reaching out is usually not a one-on-one thing, except in rare cases. By breaking down your target account list and creating templates for your content and outreach, you'll make life easier for your sales team and get a better handle on your data. Here's how you can slice up your list:

• By company size, like how much money they make or how many people work there
• By the industry they're in
• By their location
• By big changes happening, like if they're growing, shutting down, going public, or shaking up their leadership

Remember, segmenting isn’t just about sorting customers into tidy categories. It's about lining up with your overall market and sales plan, helping your sales folks connect with those who are most ready to say 'yes,' and doing it at just the right moment.

Craft personalised marketing campaigns

Once you've gathered all the juicy details during your research, it's time to craft some killer assets that will really speak to your target account.

The secret sauce of these campaigns is personalised content. And by "personalised," I mean more than just slapping their name on it or mentioning shared connections or past interactions. You're taking their data, understanding their challenges, and how they've tackled them in the past, and blending it all with your segmentation. It's like a perfect recipe for success!

Track the performance of your personalised marketing efforts

Tracking how well your ABM campaigns are doing is a whole different ballgame compared to regular demand gen campaigns. You still keep an eye on the usual suspects like how many people saw it, who's opening your emails, and who's actually taking the bait. But the cool part? You can connect the dots between marketing numbers and sales figures to get a real-deal snapshot of your campaign's impact.

According to an article from Gartner here are few ABM metrics you can look for:

• How fast you're closing deals (sales velocity)
• How well you're hitting your key accounts (target account coverage)
• The amount of business your campaign is influencing (influenced pipeline)
• Growth within existing accounts (account expansion)
• The bucks you're spending to snag a new customer (customer acquisition cost)
• How much dough a customer brings in over time (customer lifetime value)

Summing Up

In conclusion, embracing Account Based Marketing (ABM) offers B2B companies a strategic approach to targeting high-value accounts and nurturing meaningful relationships with key decision-makers.

By pinpointing top-tier target accounts, conducting in-depth research, and crafting personalised campaigns, businesses can effectively engage with their ideal customers and drive success. The emphasis on tracking campaign performance through relevant metrics allows for continuous improvement and optimisation, ensuring that ABM efforts yield tangible results.

As ABM continues to gain traction among B2B marketers, its ability to deliver tailored, impactful experiences to target accounts positions it as a valuable strategy for driving growth and maximising ROI in today's competitive landscape.

If you found this article helpful or have suggestions, feel free to leave a comment!

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