Are Account-Based Marketing Tactics Right for Your B2B Company?

The B2B sales process is a complex one. There’s lead generation, qualification, prospecting, pitching, demos, and more. Often, it involves several key decision makers from different areas, and closing a deal can take weeks or months to complete. It’s a lot, and even the most seasoned salesperson can find themselves frustrated during the process—and understandably so.

As a B2B company selling to a narrow market, it’s important to focus your marketing efforts on the companies that are most likely to be interested in your products and services. Today, wasting your resources, time, and budget to market to broad, unqualified leads isn’t always the best approach. Just think, if there was a strategy you could use to target the high-value companies that would be the best fit for your products and services, how would that change your sales game? The trajectory of your company?

Enter: account-based marketing (ABM) tactics.

In this blog, we’ll review what account-based marketing is and investigate how to determine if an ABM strategy is the right approach for your company.

What Does Account-Based Marketing Involve?

Account-based marketing involves identifying and obtaining targeted, high-value accounts. To achieve this, marketing and sales collaborate to create personalized campaigns tailored to every account.

Business that use account-based marketing strategies typically use them for reasons like:

• Having a narrow market their products or services appeal to
• The majority of their revenue (at least eighty percent) comes from the top twenty percent of their client or customer base

Is ABM Right for Your Company?

While ABM can definitely pay off if it’s right for you, it’s not an ideal strategy for all companies. To determine if this is the right approach for your company, ask the following questions:

1. Does the Majority of Our Revenue Come From the Top Twenty Percent of Our Customer Base?

If the answer here is an easy yes, then the return on investment (ROI) you could achieve by utilizing ABM is going to be more in your favor. If, on the other hand, most of your customers only contribute a small percentage of revenue to your business on average, consider trying other marketing tactics first.

2. Do We Have a Clear Picture of the Companies That Would Be Interested in Our Offerings?

If you have a list of ideal companies you’d like to do business with, ABM is a great strategy to put into play. When you know exactly what companies you want to go after, targeting them (and developing a personalized and successful campaign) is going to be that much easier.

3. Are We Confident We Can Reach Key Decision Makers within Our Target Companies?

Knowing who you want to target is one thing. Being able to actually reach key decision makers to market to them on an individual level is another. If you’re not 100 percent confident you can pull this off, you’ll be better off investing your marketing budget elsewhere. Remember: ABM doesn’t come cheap. It involves targeting, outreach, content creation, and more, so if you can’t confidently say you’ll be investing money and resources to target the right person, keep it moving.

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