B2B marketing is becoming complex with each passing day. Customers’ expectations are rising. Competitors are increasing. Profit margins are shrinking. Newer challenges are coming. Moreover, the global economy is plummeting. In such challenging times, enterprises need something effective that can assist them to grow upright without any hassle.
Account-Based Marketing (ABM) is the ultimate saviour. This proven and cost-effective marketing approach enables you to invest your resources focusing high-value accounts. As a result, you get more customers in less time. Account-Based marketing funnel is entirely different from traditional marketing. Here, enterprises first identify target accounts, engage them with personalized communication, and then nurture leads to build long-lasting relationships.
It helps enterprises to meet their business goals faster while saving time, money, and efforts. Whether you want to execute account-based marketing for small businesses or for large enterprises, it proves beneficial for all. This marketing approach is now faster gaining prominence and wider acceptance due its valuable business benefits.
Benefits of Account-Based Marketing
1. Generates Higher ROI
Account-based marketing tactics assist in boosting lead generation outcomes. This targeted B2B marketing technique enables marketers to qualify more leads in lesser time. It thus helps in boosting sales throughput significantly. Many prominent research reports establish this fact.
- 97% of marketers believe that account-based marketing programs drive higher ROI than any other marketing initiative.
- 84% of marketers say that B2B account-based marketing is more effective than other marketing tactics.
- Account-based marketing generates 208% more revenue. Especially at places where sales and marketing teams work together while keeping one unified marketing goal in mind.
2. Aligns Sales & Marketing Teams
Many teams are involved in any B2B lead gen program. Out of all teams, sales and marketing teams play the most decisive role in boosting sales output. It is often seen that these two teams work in silos and often final revenue targets gets impacted due to this. On the other hand, when a company plans to use account-based marketing, both these teams need to work together and more closely.
Each team works with few key targeted accounts in mind. They share lead data, discuss progress based on analytical data, decide content strategy, draw lead scoring models, and much more. These things help enterprises to make better and more informed business decisions. Also, such things assist marketers to nurture their leads well. One study reveals that tightly aligned sales and marketing teams help achieve B2B enterprise to grow their revenue 19% faster.
3. Better Use of Marketing Budget
Any marketing initiative requires money. B2B marketing is no such exception. Enterprises often face financial challenges to provide necessary funds as desired by the marketing team. Moreover, economic turmoil due to COVID-19 has further put a strain on marketing budgets. In all such scenarios, is it possible for an enterprise to further ignore budget leakages? Definitely not. Every dollar should be efficiently used and every penny should be efficiently saved.
B2B organizations often end up nurturing many wrong leads. Further, sending emails to wrong IDs, following not-so-interested customers, unanswered calls, etc., all consume valuable time and money with almost zero effective sales output. Account-based marketing tactics help you save your precious money by investing every penny on those qualified accounts that are more likely to buy your services. It filters out weak accounts and helps B2B marketers to invest their money efficiently on high-value accounts.
4. Shorter Sales Cycles
An effective b2b account-based marketing program enables marketers to close their sales faster. Various factors contribute in meeting this desired business objective.
- It allows executives to invest their time and energy on a few selected targeted accounts rather than distributing their efforts in chasing unqualified leads.
- Account-based marketing allows customized messaging. It helps attract prospects better towards a brand. Right messaging that suits a particular decision-maker helps win their trust faster.
- Effective lead scoring assists marketers to take follow-up with prospects based on their score, past interest, and valuable analytical research data. You can chase your prospects with better insights. Also, make more informed decisions to pull them towards your services.
5. Personalization Attracts Customers
In the business world, not always one size fits all. And if you are into B2B, then definitely not. Each enterprise has different needs, business challenges, revenue size, geographical competition, etc. All such factors push companies to search for a unique solution that fits their specific needs.
B2B account-based marketing solutions help you tackle these challenges very smoothly. First, it empowers you with great knowledge about your prospects. It helps you to gain meaningful insights and assists you to understand your prospects in great detail. By utilizing such information, you can curate an effective personalized marketing plan to suit your prospects’ needs.
You can make customized ebooks, brochures, tailored user experiences, and PowerPoint Presentations. Going one step further, by using a powerful B2B account-based marketing technique, you can also customize your chats and build microsites to engage your prospects better.
Studies show that personalization helps in
- Gaining easy attention
- Building better relationships
- Customer retention
- More conversion
- Boosting customer experience
According to Harvard Business Review, personalization helps you make 40% more customers than generic marketing plans.
6. Improves Win Rate
Laser focussed marketing approach, customized messaging, better precision, and accurate targeting helps enterprises to close more deals easily. One prominent study reveals that 80% of marketers believe that B2B account-based marketing helps improve customer lifetime value. Also, 86% of marketers say that it improves win rates.
7. Measurable Outcomes
An account-based marketing approach enables marketers to clearly analyze the performance of their marketing efforts. It presents a 360* view of their entire marketing efforts. That too very precisely while evaluating each stage of the buyer’s journey. It checks account-based data, off-site behavior, on-site behavior, web analytics (page session, bounce rate, SEO, SEM, etc.), CRM, and much more to prepare a final report. It helps you know
- Which accounts are doing well and which are not
- Whether your ads are hitting the right chords amongst the targeted audience
- The interest level of the targeted account
- How accounts are interacting with your brand
- Their past browsing history and the stage of buyer journey reached
- What actions do you need to take to win low lead score accounts and much more..
Such critical and vital insights help marketers to plan their strategies better and assist in optimizing marketing performance without any worry.
8. Boosts Employee Productivity
Every unanswered call, bounced email, etc., put an economic strain on the business. But more than that, it is the loss of precious human work hours that hurts the most.
How often does it happen that employees invest their significant amount of time chasing unqualified leads and end up getting nothing? Oftenly. Right?
Doing research on bad leads, sending emails, running ads, taking follow-ups chasing up uninterested prospects do not help the company in any way. Instead, it results in a significant loss of human capital. Using an account-based marketing approach, you can tackle this challenge easily. As it enables your skilled manpower to focus their energy on high-value and qualified prospects. It thus not just saves their precious time but also boosts productivity and sales throughput.
Popular Account-Based Marketing Software
Which is the best account-based marketing software? This question pop-ups in the minds of every B2B marketer. But to answer this vital question is not that easy. There are numerous ABM software available and each one is known for carrying out some specific set of operations more efficiently than others.
Some of those which are highly recommended by eminent account-based marketing companies are listed here.
Best Account-Based Analytics Software
- HubSpot Marketing Hub
- Marketo Engage
- Terminus ABM Platform
- Demandbase ABM Platform
Best Account-Based Marketing B2B Data Software
- InsideView Insights
Best Account-Based Execution Software
Best Account-Based Orchestration Platform Software
- Terminus ABM Platform
- Demandbase ABM Platform
A focused marketing approach, great efficiency, and result-driven aspects make these ABM tools hugely popular. These are the reasons why best account-based marketing agencies from all around the world prefer these platforms to run their ABM program.
Given the limited resources most of the companies have, it is not a wise idea to distribute energy on focussing unqualified leads. It anyway turns futile with no effective sales output.
Rather if you focus your efforts on chasing well-researched, highly-qualified leads using an account-based marketing approach then chances of boosting conversion and revenue become very high. As you focus your efforts on good leads, your business also shines brighter than peers. Therefore, embracing ABM is a good idea for any business.
Today, ABM has become a need rather than a choice.
If you want to increase your sales output using ABM approach then we help. VSynergize is a trusted name in the field of lead generation with extensive expertise in ABM as well. Our adept manpower can help you meet your desired business goals in a cost-effective manner. Contact us now at firstname.lastname@example.org to know more about our services.