Account-based marketing (ABM) is not only a buzzword, but a very profitable marketing strategy for businesses of all sizes. A common misconception is construed that only larger, enterprise level businesses can implement effective ABM strategies at scale, which is partially true due to larger resources (people and money). But it’s not completely true. Although smaller to medium sized businesses don’t have the resources of the larger companies, it’s still possible for small-medium sized businesses to make huge strides with ABM. Especially with the measurable results with ABM you can see exactly where each aspect of the marketing dollars that are going out and how many dollars they’re bringing back in.
Some of the main reasons account-based marketing can be a powerful for small-medium size businesses.
Higher ROI from Marketing Spend
Smaller companies have limited resources, (people and money) and making best use of those resources is key. Account-based marketing will allow these smaller companies to use their resources more strategically. The strategic part comes in because the marketing dollars that are going out is being spent on accounts that matter the most and are of highest value for the organization. This super targeted approach allows for greater tracking of marketing/ad spend and measurable ROI.
Track Revenue Sources
A properly executed account-based marketing campaign is incredibly strategic. This allows you to focus on delivering a specific set of coordinated activities across targeted accounts. With such focus on these specific activities, it’ll be much easier to track and measure the impact of each one. This will allow you to focus on the activities that are creating the most engagement among your accounts and focus on only those activities. This tactical approach will drive more marketing-generated sales.
More Conversions & More Qualified Leads:
Traditional marketing is like casting a fishing net, you pull in a large amount of leads, not all qualified and you’re using the valuable resources your organization has to go through and qualify the leads. It can get time consuming and expensive. Luckily with ABM, when you select your target accounts, they’ll have a business profile. These profiles will help you identify companies/accounts that are more likely to not only to buy your product or service, but really thrive using it. When you factor in these aspects, your sales qualified leads (SQLs) will improve.
In conclusion. Account-based marketing will help you drive more business momentum. As a small-medium sized business, you need to get the most value out of every dollar you spend on marketing. Account-based marketing will help you achieve that as well as give you better insights into the type of business that really strives from using your service or product. This will also allow you to collect valuable customer data that can be used in future campaigns.