As a business owner & entrepreneur. You may or may not have heard of account-based marketing (ABM). Which is often referred to customer-bases marketing. ABM isn’t new, it’s been around since the early 00’s. The issue was there technology didn’t exist to make it a viable option at the time. ABM is widely used in B2B marketing, primarily because it’s well suited for longer sales cycles, and helps build customer relationships with decision makers and stakeholders. It can also help accelerate the sales process.
At Marketli. We love ABM because it’s so precise. It’s targeted, personalized and most importantly, measurable. You’re able to see your marketing dollars and exactly where they’re going. ABM also has the highest ROI among B2B strategies. ABM can also be incredibly powerful outside of B2B
97% said ABM had a somewhat higher or much higher ROI than other marketing initiatives.
Source: Altera Group
It’s 2018, Q3 of 2018. Time is moving quickly, and technology is rapidly changing and evolving just as fast. We must educate and guide our clients to help them stay on the forefront of what’s going on, allowing them to stay ahead of the curve.
In this post we’re going to cover the 5 most important points in an ABM Strategy.
Customer Data is VITAL in ABM
A huge part of a successful ABM campaign is personalized content. The use of customer data is important in aligning that content with their interests and needs. With that being said, accurate customer data is absolutely vital. Take a look at the data you have currently and verify the existing information.
Now, you’re probably wondering, what kind of customer data do I need? We look at this from 2 angles. Your buyer persona/Ideal customer profile. As well as the following:
- Initial contract start date
- Renewal date
- Current value
- Renewal value
- Net Promoter Score
- Product usage/feature usage
Keep in mind, the second type of metrics can change depending on the type of service or product you provide for customers. Watching these indicators closely will help CSM’s (customer success managers) predict if a customer will renew their account when the time comes. The key is to create curated content to keep the customer engaged over the period of time between initial sign up and renewal.
Data Driven Approach.
Measuring the effectiveness of campaigns can be a little tricky in some cases. That’s why we have tons of awesome tools available at our disposal. Like google analytics and facebook analytics. It’s vital to measure the analytics and use the data to create future campaigns.
Above & beyond with Content
Content marketing isn’t a new thing and in ABM it’s one of its most vital components. The goal is to create high quality content that not only appeals to your primary target market and your specific account segments, but content that truly provides value by on information to them that is relevant, informative and/or educational. These topics would be a specific pain point in that segments industry or niche. Sharing quality content is key to catching your prospects in the early stage of their customer lifecycle.
Another very important part of the content you write, it has to communicate a brand personality that is relatable and not only invites engagement but builds trust over time.
A big thing as well is finding proper channels to reach and engage your audiences in. The main premise of ABM is the delivery of a highly personalized customer experience. All of the time and effort spent creating your buyer personas and ideal customer profiles, as well analyzing customer data and creating high quality content, would be wasted time if it’s deployed on the wrong channels and you miss your audience because you are posting where they aren’t. This problem Is usually solved in the stage where you’re creating your ICP’s part of that is identifying the proper channels your ICP Is usually on and what times they’re on there the most actively. Nonetheless, you need to format, distribute and position the information according to the needs of your buyer persona/ICP.
Using the Right Tools
It’s 2018, the number of tools to help with marketing and sales can get a little overwhelming. There’s usually also a decent amount of confusion between sales tools, like CRMs and marketing activities. While some CRM’s have tools to help with some marketing activities. There’s still a void, a middle ground if you will. While CRMs help you main customer relationships (hence the acronym). You still need a tool to help you nurture your leads and display curated content specific to their segment, these are account-based marketing tools. Which is primarily the premise behind why we created SPRKL. It’s to help with all of the automation between having a database of potential customers and nurturing that database with curated content to turn them from a prospect into an actual lead. Think of CRM’s as database management and SPRKL as the system to help nurture that database and turn them from prospects, into leads for the sales team.
Successful account-based marketing leverages customer data to provide targeted content and personalized offers that position your brand as the most trusted and relevant resource in providing the solution your customers need. As such the most effective ABM strategies are the ones that allow you deliver the best possible customer experience.