Wanting to maximize their results, companies are often tempted to create generic messages for a large number of prospects. However, paradoxically, more than 80% of B2B experts agree that this is not the best strategy for acquiring customers . Indeed, opting for Account Based Marketing (ABM) allows you to make your overall marketing efforts more profitable.
ABM (Account Based Marketing): what exactly is it?
Strategic account marketing is a business marketing strategy that involves focusing resources on a set of target accounts within a market. Concretely, this involves running personalized campaigns whose aim is to engage each account.
Messages that match the prospect and their needs
These personalized, highly targeted marketing programs and initiatives aim to business growth and impact Thus, marketing messages must consider the specific attributes and needs of the account.
These messages must be tailored directly to the target account, with content that matches it and provides value . The goal is to inspire customers to engage and progress in the buyer's journey toward a defined goal.
Hit your core target every time
In ABM, marketers identify target accounts and personalize the marketing and experience. In this process, they sometimes need to take help from the sales team. Approaching prospects with high conversion potential then allows the seller to reach their core target every time.
In this sense, strategic account marketing expands marketing's involvement in the sales funnel while shortening the sales process. The process can be long and complex, but it has many advantages , which we will list below.
What are the advantages of Account Based Marketing (ABM)?
We can essentially identify 6 main advantages of opting for an Account Based Marketing strategy.
1. A personalized marketing approach
ABM makes it possible to approach key contacts of target accounts through a personalized approach. Your prospect will feel valued . You can use empathy marketing to show them that you understand their problems and can provide a solution. With this in mind, you need to create relevant content from the information available to you. This content must be delivered to the customer at the right time and in the right place. Keep in mind that the goal is to build the foundation of a strong relationship between you and your target account.
According to McKinsey & Company, personalization reduces acquisition costs by 50% and can increase revenue by up to 15% .
2. Build and maintain relationships
Strategic account marketing allows you to establish a relationship of trust with your future client . As this trust is built and the relationship is nurtured, you will learn about your prospects' behaviors . You will then be able to respond quickly to their signals. They will likely look to you for expert advice on the issues they are experiencing.
3. Fast decision making and shorter sales cycles
Traditionally, the decision-making process can take a long time to complete. This is particularly the case for major purchasing decisions that involve multiple stakeholders. This slowness has the disadvantage of slowing down the sales process, as it begins at a lower level of the organization and slowly progresses to the main decision maker. With ABM, however, the cycle time is shortened because all prospects are nurtured simultaneously .
ABM has the advantage of accelerating this process . Indeed, thanks to the relationship and trust you have been able to establish, you can take your prospect through the buyer's journey faster than usual. The point is that you have a more direct line into the decision-making process.
4. Better return on investment
ABM involves direct marketing the most engaged target accounts This helps eliminate unqualified leads quickly. This minimizes wasted time, saves costs and reduces risks. According to Altera Group, 97% of companies using an ABM approach have experienced higher returns on investment than any other marketing strategy.
5- Fewer wasted resources
This approach also allows for better optimization of resources . Indeed, these are concentrated on a small number of accounts which are the most likely to close sales.
6- Better monitoring of results
Account-based marketing is specific and measurable . Additionally, there are far fewer metrics to track in your ABM efforts compared to other B2B tactics. As you set specific goals for specific accounts, you can almost instantly recognize whether your efforts have paid off. By measuring your results , you will be able to easily identify your successes and failures . You can then continue your campaign while refining your strategy.
Using dynamic ABM with Magileads
Note that Magileads' SaaS solution allows you to use dynamic ABM during your marketing campaign. For this purpose, you have dedicated functionalities for:
Identify
Identify the companies and know who you want to target (specific accounts).
Engage
Create personalized content and campaigns by function in the company.
Message testing
Test several different sentences about a function in the company
Prospect engagement
Once you find a gateway to communicate with a contact from these accounts, you can maintain the relationship with the contact in order to gain their trust.
