Not all digital marketing techniques generate the same results in terms of lead qualification. To channel efforts, why not select leads with high potential upstream? This is the whole point of Account Based Marketing (ABM) . In this article, we invite you to understand how ABM works and the benefits for your business.
What is Account Based Marketing?
Account Based Marketing (ABM) , or strategic account marketing in French, is a marketing strategy designed for B2B . It consists of focusing prospecting efforts on a reduced list of companies that have the ideal customer profile for your business. It is an essentially 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 consists of reaching the maximum number of qualified prospects by sending messages designed according to the target. Account Based Marketing is channeled into a limited number of target accounts. In figures, 57% of companies practicing ABM focus on 1000 accounts and 13% only on 100 target accounts . Success relies on the implementation of high value-added content with a good user experience. Concretely, in an ABM strategy you create personalized content for your target accounts. It is therefore a question of trading with partners by offering them the solution to their problems .
Faced with the evolution of digital marketing and the web, the B2B world is adapting by emphasizing the targeting technique. One of the characteristics of Account Based Marketing is to interact with each of the actors who make up an organization . In B2B , the decision-making process is complex. Typically, decision-making authority is not assigned to a single person . There are on average seven stakeholders in a B2B purchasing (here are some examples: HR, IT, CSR, etc.). In each organization the targets are a minimum of four people to succeed in creating sufficient visibility or “Brand Awareness” . Initially, ABM targets the company likely to be interested. Then secondly, it is a question of identifying the decision-making contacts within the latter. By operating with methodology, you will optimize your resources and your time.
Account Based Marketing is not completely new since it is the evolution of KAM (Key Account Manager). However, it remains innovative in the sense that it uses content marketing, social selling, CRM, and automated marketing for its implementation.
What advantages does Account Based Marketing bring?
ABM focuses on a limited number of targets , which allows you to obtain a significant return on investment. Monitoring is indeed easier for the marketer. Advanced qualification improves the approach which becomes more personalized. The alignment of the marketing and sales department optimizes the organization of work. 86% of companies that apply Account Based Marketing see an improvement in their conversion rates .
How to set up Account Based Marketing?
Executing ABM can be summarized in six key steps.
Target identification
It is the essential component of your marketing strategy. Determining an audience is the key to success. It is important to emphasize that this step is not the same as the creation of buyer personas when it comes to the B2B system. Identifying the target within the framework of Account Based Marketing is a collaboration between your marketing and sales teams. It needs the expertise and data of these two services. This data is information related to the company profile: sector of activity, size, geographic location, market influence, turnover, potential purchase frequency, expected profit margin.
Study of customer accounts
The objective in this phase is to process the information collected, in order to find the angle of attack to present your products or services . Knowing the structure of the company as well as its key stakeholders allows you to frame your approach . Research on social networks or social selling sites like Linkedln will help provide you with more information.
Content creation
This step demonstrates the synergy between Account Based Marketing and Inboud Marketing . The content must provide added value. It is not a question of highlighting your product, but of responding to the problems of your target company . The content must offer solutions to the company's difficulties, and must target the transactions to be concluded. Good content ensures engagement from your strategic accounts.
The choice of communication channels
Good content is not an end in itself. You still need to use the right promotional tools. Channels allow you to present content . They are the supports of your strategy. This is why it is important to choose them carefully according to the context , according to the preferred lines of your targets and their behavior on your site.
The launch of the campaign
The consistency and consistency of your messages across different channels is essential. In B2B, the number of targets is limited, which is why the message must be concise. This phase must be treated with care, because it summarizes the work carried out upstream.
Evaluation of results
Evaluating a campaign is important and must 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 turnover that the account has generated.
Account Based Marketing is recognized as the current B2B trend . By following the steps listed above, you will be able to get started with Account Based Marketing provided that it is adapted to your context. If it is better for your business to focus efforts on companies with high purchasing potential, then ABM is your solution.
