Account Based Marketing is more than just a recent buzz word in digital marketing. It’s a true and proven strategy to help drive better customer engagement. It’s strategic approach to business marketing based on specific customers or customer accounts. Account Based Marketing (ABM) is very powerful for Business-to-Business and Business-to-Consumer marketing method. In 2014, ITSMA’s Account-Based Marketing Survey found that “ABM delivers the highest return on investment of any B2B marketing strategy or tactic.” Account-based marketing is very powerful and we believe that for businesses of all sizes. Which is what actually led us to the development of SPRKL.
Account: The account in account based marketing represents your ICP, or Ideal Customer Profile. Which is a fictitious outline of the perfect customer or organization for your product or service.
Discover & Define Valuable Accounts
First things first. You need to prioritize your high-value accounts. This is done using historical data you probably have already. If you do not, now’s a good time to start collecting. Think about the last 5 or 6 individuals or companies that have bought your products or used your services. Than, think about things like revenue potential as well as other strategic factors like influence in the market, likelihood to purchase repeatedly from you, or potential for higher than average profit margins over the course of time.
Map your account segments & Identity Key Internal Players
Account segment: Different ideal customer profiles. Firmographics, technographics, products or features of interest.
Who are you selling to in each organization? Who are the key decision makers? These are some of the questions to ask yourself when your mapping accounts. Mapping accounts simply means you’re identifying the key internal players when it comes to making a decision about purchasing your product or service. Key internal players aren’t just decision makers. They’re also people that have influence on the decision. For example, an assistant or the person at the business that will be using your product or service each day.
Define Content & Personalized Messaging
One of the distinguishing factors of Account-based marketing is using specific, valuable content that addresses a clear and significant business challenge that targets the account. One of the powerful features of SPRKL is the ability to create dynamic content for each account segment, ensuring each message is personalized to create higher engagement.
Determine & Leverage Optimal Channels
Communicate with your audience on the channels they leverage. From web and mobile to social and email. Consider which channels will be more effective or specific for roles or industries you might be targeting and consider things like opt-in or other restrictions (a.k.a GDPR) in your specific region. If you’re putting content into the specific channels your account uses the most, and the content that’s being put out is tailored to that specific account, your engagement statistics will reflect how effective this can be.
Create & Execute Targeted, Specific campaigns.
A beautiful thing about account-based marketing is creating campaigns for specific segments and accounts. about account-based marketing isn’t a new concept, but in the last couple of years, it’s become more popular because of software getting developed to help automate the process. Technology tools like SPRKL will allow us to create & coordinate campaigns and automate specifics tasks to help create maximum impact at a much greater scale than ever before.
Measure, Learn & Optimize
Measuring performance is key to creating the most effective about account-based marketing campaigns. This is a marathon, not a sprint. Depending on what parts you already have, it may be very easy to jump into account based marketing. The slight learning curve is definitely worth the long term value it will bring for your companies product or service.