Not all digital marketing techniques generate the same results in terms of lead qualification. To focus your efforts, why not select high-potential leads upstream? This is the core principle of Account-Based Marketing (ABM). In this article, we'll help you understand how ABM works and its benefitsfor your business.
What is Account Based Marketing?
Account-Based Marketing (ABM), or strategic account marketing , is a marketing strategy designed for B2B. It involves focusing efforts prospecting on a small list of companies that fit the profile of your ideal client. It's a highly targeted approach, and digital marketing campaigns are particularly personalized.
This technique is commonly used by commercial businesses to attract multiple potential buyers. Nearly 67% of B2B companies invest in ABM.
Context and operation of Account Based Marketing
Compared to traditional marketing , which aims to reach the maximum number of qualified leads by sending targeted messages, Account- Based Marketing (ABM) focuses on a limited number of target accounts. In fact, 57% of companies practicing ABM concentrate on 1,000 accounts, and 13% on just 100 target accounts. Success hinges on creating high-value content with a positive user experience. In practical terms, an ABM strategy involves creating personalized content for your target accounts. It's about doing business with partners by offering them solutions to their specific challenges.
Faced with the evolution of digital marketing and the web, the B2B world is adapting by emphasizing targeting techniques. One of the characteristics ofAccount-Based Marketing (ABM) is interacting with each stakeholder within an organization. In B2B, the decision-making process is complex. Generally, decision-making power is not attributed to a single individual. On average, there are seven stakeholders processB2B purchasing (here are a few examples: HR Director, CIO, CSR, etc.). Within each organization, the target audience must include at least four people to successfully generate sufficient visibility or brand awareness. Initially, ABM targets companies likely to be interested. Then, it involves identifying the decision-making contacts within those companies. By operating methodically, you will optimize your resources and time.
Account-based marketing isn't entirely new, as it's an evolution of the KAM ). However, it remains innovative in that it leverages content marketing, social selling, CRM, and marketing automation for its implementation.
What are the advantages of Account Based Marketing?
Account-Based Marketing (ABM) focuses on a limited number of targets, resulting in a return on investment . Tracking is indeed easier for marketers. Advanced lead qualification improves the approach, making it more personalized. Alignment between the marketing and sales departments optimizes workflow. 86% of companies that implement ABM see an improvement in their conversion rates.
How to implement Account Based Marketing?
The execution of ABM can be summarized in six key steps.
Target identification
This is the essential component of your marketing strategy. Defining your target audience is key to success. It's important to emphasize that this step is not the same as creating buyer personas in a B2B context. Identifying your target audience within Account-Based Marketing (ABM) is a collaborative effort between your marketing and sales teams. It requires the expertise and data of both departments. This data includes information related to your company profile: industry, size, geographic location, market influence, revenue, potential purchase frequency, and expected profit margin.
The study of customer accounts
The goal in this phase is to process the information gathered in order to find the best angle for presenting your products or services. Understanding the company's structure and key stakeholders will help you frame your approach. Research on social media or social selling platforms like LinkedIn will help you obtain further information.
Content creation
This step demonstrates the synergy between Account-Based Marketing and Inbound Marketing. The content must provide added value. It's not about showcasing your product, but about addressing the challenges faced by your target company. The content should offer solutions to the company's difficulties and target the transactions to be closed. Good content guarantees engagement from your strategic accounts.
The choice of communication channels
Good content isn't an end in itself. You also need to use the right promotional tools. Channels allow you to present your content. They are the foundation of your strategy. That's why it's important to choose them carefully, taking into account the context, the preferred channels of your target audience, and their behavior on your website.
The launch of the campaign
The consistency and coherence of your messages across different channels are paramount. In B2B, the number of target audiences is limited, which is why the message must be concise. This phase requires careful attention, as it summarizes the work done beforehand.
Evaluation of results
Evaluating a campaign is important and should be systematic. For an Account Based Marketing campaign, you need to know: the change in behavior of a strategic account with your brand and the revenue that the account generated.
Account-Based Marketing (ABM) is recognized as the current B2B trend. By following the steps listed above, you can get started with ABM, provided it's adapted to your specific situation. If it's best for your company to focus your efforts on companies with high purchasing potential, then ABM is the solution for you.
