26 Jun Account-based marketing belongs in your marketing plan: Here’s why
The savvy B2B marketer uses a diverse, multi-pronged approach to attract prospects and drive existing clients to purchase again. But one strategy – account-based marketing – outperforms the rest in today’s marketplace. In fact, SiriusDecisions reports that 93% of B2B marketing leaders consider account-based marketing extremely important for success. This method is especially profitable because it’s personalized, precise and measurable. With a focus of resources on a specific set of targeted accounts, your marketing and sales teams converge to present your brand and content with streamlined efficiency. Read more to learn why account-based marketing is essential to your overall strategy.
Customers crave personalization, and account-based marketing delivers.
Account-based marketing is tailored to each account. Instead of sending blanket messaging to a large audience, your team creates content specifically relevant to key accounts. This requires data-driven selection of your highest-potential customers and a deep understanding of their pain points. Though time intensive up front, this process offers your customers value with direct, highly personalized content. The extra time spent catering to your customers’ needs will set your business apart from the competition. As you create campaigns that truly resonate, you strengthen your relationship with the primary decision-makers of an organization. Not only will these efforts improve customer retention but they will also create opportunities to expand business with your target accounts.
When sales and marketing align, efficiency soars.
This marketing method forces sales and marketing teams to work together. And with only 22% of companies who consider their sales and marketing departments well aligned, this collaboration push is often much-needed. With a more targeted focus on individual accounts, your marketing team has access to specific information about the main stakeholders and their conversion behaviors. Your sales team, in turn, can spend less time grooming leads that don’t produce and direct their resources toward accounts that actually want to hear from them. Much of the customer guesswork is out of the equation, and the sales cycle is consequently shortened. Communication becomes key as both teams work together and use data to optimize their efforts.
Account-based marketing offers more bang for your buck.
Higher ROI is one of the biggest benefits of this type of marketing. ITSMA reports that nearly 85% of marketers measuring ROI say that account-based marketing outperforms other marketing investments. And that’s largely because, with this method, you narrow your target audience to accounts with proven interest in your brand. Your team can spend more time and resources on fruitful accounts, minimizing waste and risk. Of course, it’s even more economical if your business is already very knowledgeable of your most attractive accounts and their key decision-makers. Cost-efficiency can be further maximized with the use of technology tools that improve the account-targeting process.
Success is expected, and easy to measure.
When you market to established, high-value clients, it is easier to track your marketing dollars. Smaller data sets and fewer metrics make for simpler analysis than standard marketing methods. Sales and marketing coordination also simplifies goal setting and increases accountability. Once an account-based marketing campaign is well underway, Individual campaign results can be analyzed, along with account engagement, opportunities created and account-level trends. That data can then be leveraged to further optimize your strategy for that account and others.
Stop draining your resources on campaigns that don’t convert accounts. Nurture your key customers and close bigger deals by joining the 61% of companies with an established practice of account-based marketing. You can expect to put considerable time and energy into your most promising targets. But you can also expect to drive the most revenue as you build trust and meet the unique needs of each account. Your customers will appreciate it…and so will your budget.