More and more B2B marketers are turning to account-based marketing to generate leads fast while fostering a long-term growth in revenue.
More B2B marketers are turning to account-based marketing to generate leads fast while fostering long-term growth in revenue.
What is account based marketing?
Account-based marketing is a strategy in marketing that allows an organization to engage a specific target market. It puts into consideration the personalization of customers. It is not only about creating a balance between sales and the marketing team; it makes sure they are in sync with account specific form of messaging. The biggest advantage of account-based marketing is the ability to generate higher revenues in such a short period.
Here is a brief look into account based marketing and how to implement it.
When Should You Take Advantage Of Account-Based Marketing For Your Organization?
The most profitable time to use account-based marketing is when your organization has a smaller total addressable market (TAM). This often happens in a market with less net new customers but larger contract ones.
With this type of market, you can get to channel yourself to a high-value market. With a smaller TAM, it is very unlikely to make loses in terms of time and resources. Aligning your sales with the right market means you get a chance to optimize your resources.
account based marketing is very engaging in terms of conversational marketing techniques. It creates an effective platform for you to have intimate and responsive conversations with your target market. Drift is one tool that can help with conversational marketing.
Before you use that strategy, however, make sure that your organization
- Has established inbound marketing best practices
- Has a sales-ready website in place
- Has a platform that focuses on the configured marketing automation platform
- Has been successful in lifecycle marketing campaigns
- Has helpful sales enablement tools
Implementation of An Account Based Marketing Strategy
- Identify a target audience that will create a high-fit environment (high-value accounts) for your company
- Come up with a strategy that will enable you to target these accounts
- Come up with a strategy that will allow you to measure the success of your initial strategy (target campaigns)
- Make sure to pinpoint optimal channels. These are those used by your targeted accounts to reach their customers
- Clarify roles and responsibility through a strategic playbook. Make sure you define who does what and when. Come up with strategic sales and marketing methods that are engaging and drive interest.
- Execute your campaigns. Personalize each campaign as a way of receiving the most out of it. In this period, make sure to be relationships based on customer loyalty.
- Measure the impacts of your chosen tactics. This includes measuring and optimizing engagement and tally opportunities.
Organizations tend to use account-based marketing to work with the sales team. It allows them to identify key prospects. These key prospects allow them to customize programs and messages for targeted accounts. Account-based marketing can be a useful tool if well implemented.
Check out our website to learn more about how you can make more money by personalizing your target accounts.