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What is Account-Based Marketing?

Account-Based Marketing is an approach where your marketing activities are focused on converting specific companies. You identify a small group of organizations you want to sell to and execute campaigns to target those particular accounts. In some cases, you might even create customized marketing campaigns focused entirely on just a single company.

Account-Based Marketing is essentially marketing that is personalized. It attracts people’s attention by addressing specific challenges their companies are facing.

According to SiriusDecisions’ 2016 State of Account-Based Marketing (ABM) Study, 87% of companies said that ABM is “extremely” or “very important” to overall marketing efforts. 71% of companies announced that they have stuff wholly or partially dedicated to ABM.

How is Account-Based Marketing Different from ‘Traditional’ Marketing?

Marketing has always been about generating as many leads as possible. But what if you want to close high-ticket enterprise deals?

Then, you need a different strategy that’s a lot more personalized – Account-Based Marketing.

Benefits of Account-Based Marketing

  1. Shorter Sales Cycle: Account-Based Marketing is effective at getting the attention of prospects and convincing them that you are worth their time.
  2. Everyone is Qualified: You know you are not wasting your time by talking to people who will never buy!
  3. ROI is clearer: Account-Based Marketing provides clearer ROI tracking.
  4. Better Sales and Marketing Alignment: It requires both teams to work together closely, ensuring messages remain consistent throughout the buyer’s journey.

7 Steps of Account-Based Marketing

  1. Define your Accounts and Identify Targets

    Determine what types of companies you want to target.

    • Firmographics: Industry, company size, location, etc.
    • Technographics: Technology your target companies are using.
    • Cultural Parameters: Qualitative factors to include in your Ideal Customer Profile.

  2. Research Each Company

    Understand their decision-making landscape and build buyer ethnography.

  3. Create Content

    Your content must highlight your prospects’ pain points. Create personalized content for both your Ideal Customer Profile and specific companies.

  4. Choose the Right Content Channels
    Identify how and where to reach your audience.

    • Social Media and Blogs: Targeted ads on platforms like LinkedIn.
    • Landing Pages: Host content assets without opt-ins.
    • Email: Cold outreach with valuable content.

  5. Execute Your Campaigns
    Coordination is key for a successful campaign.

  6. Evaluate Your Results
    Analyze campaign performance metrics, including revenue generated and conversion rates.

  7. Adapt and Relaunch
    Revise campaigns based on evaluations, optimizing for what works and dropping ineffective initiatives.

Conclusion

Account-Based Marketing requires a revised approach to marketing funnels but can lead to significant revenue growth and improved ROI.