How to Use Account Based Marketing to Drive Sales & Revenue

Corey Singleton, VP of Enterprise Sales.

#b2bmarketing #strategy #sales #team #growth #leadership #teambuilding #venturecapital

The goal of ABM is to connect with customers through contact, interaction and advocacy by providing value that meets their needs

 Account Based Marketing (ABM) is one of the most effective ways to reach and engage customers. ABM puts focus on individual accounts, rather than mass markets or general audiences. The goal of ABM is to connect with customers through contact, interaction and advocacy by providing value that meets their needs. With ABM you can deepen relationships with your current and new customers while driving incremental revenue growth.

When it comes to marketing, most companies opt for a mass approach. They target a general audience with their message hoping that some percentage of people who see their ad, email, LI connection, etc will convert and buy what they’re selling. However, this isn’t always the best route to take. In fact, many times it can be counterproductive because it can alienate potential customers who might not feel like you really understand them or care about them as individuals . Instead of trying to appeal to everyone at once , account-based marketing focuses on individual customers .

What are some of the benefits to account-based marketing?

One big benefit to account-based marketing is that it allows businesses to connect with customers through contact, interaction and engagement. By providing value that meets their needs, ABM can help build lasting relationships with customers and bring in more business.

Account Based Marketing (ABM) has long been considered a key component of business growth strategies, as the approach involves deepening relationships with current and new customers in order to drive incremental revenue growth. While this traditional marketing, and sales methods is still an important part of most organizations’ arsenals, there are other ways in which ABM can benefit businesses—and these benefits often outweigh those that come from more traditional marketing channels.

Here are 7 Advantages why taking the opportunity of ABM could be your best bet for future success:

1st advantage: Internal Alignment

By increasing communication between departments and by concentrating on shared objectives and measurements. The sales and marketing departments gain most from account-based marketing because: ABM significantly enhances the alignment between marketing and sales at their organization, according to 79 percent of B2B marketers. Marketing is given credit for its contribution to the sales pipeline while sales benefits from receiving higher-quality leads so they can spend more time selling and less time pursuing prospects. 

2nd advantage: Better optimisation

With all that information, you can also improve campaign optimization based on the performance of particular accounts and the leads included within those accounts. Learn the platforms and messages your customers prefer, and continually improve your approach. This kind of real-time optimization is used by 46% of marketers to increase pipeline income.

3rd advantage: Better reporting

Another key advantage of account-based marketing is the amount of data you can gather. You'll keep your C-suite happy and look good when you can clearly connect your campaigns to pipeline income.

4th advantage: Increased Interest and Retention

Investing in the kind of personalized content that ABM excels at can help build relationships with customers that not only lead to sales but also to long-term success for both you and the client. Personalized content developed for ABM campaigns, according to 82 percent of marketers, increases customer retention. Personalization, according to 95 percent of marketers and sales teams, results in more engagement and stronger relationships. This is one of the clear advantages of account-based marketing.

5th advantage: Shorter sales cycle

You can drive those targets through the sales funnel and close deals more quickly if you can filter out low-value prospects and target particular decision makers. A shorter sales cycle conserves resources and enables the team to concentrate entirely on the accounts that will yield the highest returns. That translates into more time to find new leads, pursue sales opportunities, and improve the bottom line. This account-based marketing benefit is ultimately a key competitive advantage.

 6th advantage: Increasing Average Contract Value

Therefore, to fully benefit from account-based marketing, you must completely alter the way you see sales. It's not anymore just about bringing clients in the door and sealing any old deal. It emphasizes lead quality over number of leads and ultimately translates to larger deal sizes: Deals resulting from target accounts are 2.8X larger than others.

 7th advantage: Greater ROI

These account-based marketing advantages all lead to the two things that matter most for any business: revenue and return on investment. As a result of ABM, ROI is higher than shotgun marketing. When using ABM data, calculating ROI and linking it to sales is easier than when using other types of marketing. Obviously, this pleases the CEO. CEOs who are happy benefit everyone.