Account Based Marketing is the latest and greatest! Okay, that’s not entirely true. ABM has been around for a while, and is a tactic that a lot of companies use. But, it is pretty great, despite the fact that it seems many people still haven’t heard of it (you’re missing out, let me tell ya).
What is account based #marketing anyways? Here’s how to find out:Tweet
Just for reference:
- 85% of marketers who measured ROI said their ABM initiatives outperformed other marketing investments
- Some companies saw an increase of over 200% in revenue
- 83% of companies found increasing engagement with their target accounts.
Sounds pretty awesome right? Well, wait until we get into the details. You’re going to want to hear more! Within this article, I’ll break it down by explaining what ABM is and how you can implement this strategy within your own company.
What Is Account Based Marketing?
Let’s start with the basics. Account Based Marketing (or, ABM as all the cool kids say) focuses on viewing customers and your audience in a new way. Your strategies need to do a complete 180. This isn’t about appealing to individuals or creating personas (we’ve all created a “Karen” before). Now, you’re seeing people as actual companies and treating them as an organization. How you market to them needs to not focus on the qualities of each person, but rather, how that business performs. What are their needs? Company information? Interests?
This is especially crucial if you are in B2B as these companies have a multi-layered audience. Sam Balter from HubSpot put it perfectly:
…address the needs of an organization by connecting with all of the stakeholders within it. That’s one reason why it works so well in B2B — oftentimes you have to work with five or more stakeholders in a given sale.
Tactics You Need
Now, let’s get into the stuff that really matters – what you can do to make this work for you. First, it’s important to realize that the fundaments of this type of marketing are just like any other. You need to research, find your audiences, create killer content, and choose your outlets. Seems pretty simple right?
However, the difference is in how you perform these tasks. Remember, you aren’t treating these audiences like you normally work – you are treating them like the whole market or a large company prospect. This means the target, funnel, and nurturing process all have to be slightly different. Here’s a quick run-down.
Working together with sales (this is important!), learn about key aspects like business size, market behaviors, and profit or budget. Then, cater the content. Again, you’re casting a wide net here while also taking into account the specifics of all the different targets you have discovered. This means tailoring everything to that specific “organization”. Think of it as trying to make the deal or get buy in.
Next, how do you plan on getting these companies to see your content? If you’ve targeted individuals before, your first answer might be Facebook or even Twitter. But with ABM, that isn’t always the case. This really all depends on what is best for the specific organization or even “role” (HR, for example) you are trying to attract. Look at the different types of audiences on each of the different platforms. What do they look like? Are they business focused? Are they mostly professionals? Find out what you can and make the decision based on which outlets features more of your target.
If you’re in B2B, account based marketing is something you need to be discussing and implementing within your company – simple as that. Not only because it makes sense (I mean, that is what business to business is), but the benefits are numerous. One major word of advice – involve your sales team. Believe it or not, they may know more about your current audience than you realize, and the information they share could be critical to the success of your campaigns. In fact, if your marketing and sales teams aren’t talking to each other, you might have some bigger problems on your hand. But, that’s for another article.
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