According to ABM marketing experts, “The number of account-based programs is set to grow by at least 150% in 2019”. So it’s time to hone your ABM skills and get going!
ABM is much more than a trendy marketing strategy.
It’s a full-fledged methodology that revolves around quality rather than quantity. It’s not about counting leads but about concentrating your efforts on a small number of accounts that can increase your ROI.
A good ABM strategy is two-pronged. On the one hand, it has to develop and run campaigns that raise awareness of a product or service among the target accounts.
On the other, once the larger audience is captured, it has to target and focus on individuals in those accounts to convert them and begin an engaging relationship.
It’s a combined lead generation and account marketing process that, when done well, leads to optimum results.
Awareness is about making your target audience conscious that your company, solutions, and services exist. Here are some common ways of creating awareness among the larger target audience:
- Produce target-oriented content to educate your audience before they consolidate an opinion or go to Google for assistance
- Build your authority in your area by conducting and publishing research and expert pieces
- Invite influencers to distribute your content
- Tap on professional and social media to promote content – use videos, blog posts, articles and lots of imagery
- Increase native advertising
- Create targeted PPC campaigns in search channels
When you have educated and raised awareness among your target audience (or even while you’re still doing it), it’s time to start your account targeting efforts:
- Make sure that not only sales but also marketing and other key roles in your organization are the ones to decide on the target accounts.
- Personalize content to speak the language of each prospect account – do not recycle.
- Use physical as well as digital – digital targets the accounts and/or geography invites individuals to visit you at a conference or show. At the venue, establish a physical engagement and develop a personal relationship with individuals of the accounts you focused on.
- Make sure you have the technology stack you need for successful ABM. Ranging from CRM platforms to social media accounts, you need tools to help you distribute content, nurture leads, develop better focus, all in support of your business goals.
One of the most important ABM tools is the measurement.
It’s critical that you have clear and measurable KPIs to properly assess success.
In ABM you measure Marketing Qualified Accounts (MQAs), not leads, engagement level (how many people show intent), how many people in an account you build a relationship with, how much activity there is in the target account, and where your Return on Marketing Investment (ROMI) stands.
If it feels that you need a huge in-house team to do ABM, give us a call.