Critical Components of an Effective Account-Based Marketing...
Critical Components of an Effective Account-Based Marketing (ABM) Strategy
As relationships strengthen, top customers become more engaged with your brand. The benefit of that engagement is far greater than simply higher sales volumes. When using an effective account-based marketing (ABM) strategy, top customers will introduce you to new consumer growth through word of mouth of their excellent customer journey.
When marketing is directed to top customers, then 100% of the investment in your strategy is targeted. You know your message is essential to targeted consumers. Take a new look into marketing strategies and develop more personalized advertising directly for those already using your products or services.
Business owners can get a better understanding of account-based marketing strategies.
Learning the key components will develop effective ABM plans.
Decision-makers can learn to create a unified marketing approach by combining sales and marketing strategies.
CEOs, CTOs, and top management can learn more about including an ABM platform, bringing technology and marketing strategies together.
WHAT IS ACCOUNT-BASED MARKETING?
Marketing departments have for many years worked based on the primary goal of reaching as many individuals or companies as possible. The logic behind this was that the more people called, the larger your sales. Then came a rise in social media marketing, which works on the same principle – to reach as many consumers as possible.
However, ABM is an entirely different strategy concept.
The idea of ABM is not to reach the masses through a generalized marketing campaign but to work on a specific marketing plan that targets the company’s top clients or consumers.
This concept means no wasted marketing efforts. All money invested in the ABM strategy targets your customers with ongoing purchasing history. As technology advances, much of the work formerly assigned to marketers becomes automated. Return sales rise rapidly with this new automated efficiency and selective targeting of those who value your brand.
WHAT ARE THE KEY COMPONENTS OF ABM?
When beginning to build your ABM strategy, know what elements to include in your plan to succeed. Instead of reaching as many people as possible, reach out directly to consumers who know your brand, regularly engage with your company, and make regular purchases.
There are six key components or steps to a successful ABM strategy.
Identify top consumer relationship accounts and develop personas for the decision-makers.
Discover methods and tactics to reach appropriate buyer channels.
Include customer journey experience in your planning and continue developing personalized content for targeted consumers.
Build brand advocacy with targeted, personalized content.
Use available tools to measure the success of your marketing strategy. Doing so will help you tweak your sales pitches.
CREATE A UNIFIED BUSINESS MOTION INTEGRATING MARKETING AND SALES
When you create a unified business motion, marketing and sales become a single force. These are the individuals who develop the entire lifecycle of your consumer relationship.
As a result, the two teams work seamlessly to outline a plan that identifies and targets top consumers and builds impactful advocacy for your business.
Remember, these are consumers with whom you have already built a solid sales relationship. Therefore, when your integrated teams develop a sales approach, they must tailor it to the individual decision-makers that purchase your products or services.
In addition, there are supporting benefits to the unique targeting of your new marketing strategy.
Repeat Business Opportunities
Greater Audience Engagement
Developing Greater Brand Loyalty
Delivering Consistency in Customer Experiences
Streamlined Sales Cycles
FIVE STEPS TO AN EFFECTIVE ABM STRATEGY
The returns of an ABM strategy can be an extremely valuable growth plan for your business. Gartner believes these strategies enhance a business’s current relationships. An effective ABM strategy drives sales growth by leveraging existing relationships. Gartner notes that all businesses need to develop and initiate ABM strategies or risk losing their existing customer base to the competition.
The marketing research organization recommends several steps to building a successful ABM strategy.
More Than Just Conversions: If you use ABM strategies to develop small increases in consumer retention, you will find that for B2B companies, that slight increase leads to significant gains.
Take an Integrated and Cooperative Approach: Bombarding clients with calls from separate departments (sales and marketing) could quickly lose the client to the competition. However, when these departments integrate, they are complementary, not adversarial.
Create a Foundation Built on Customer Connections: Develop a holistic view of your customer base across your organization to gain more insights into their behavior.
Locate Top Brand Influencers: Use the data uncovered on your consumer database to locate your business’s key influencers. Target these accounts to develop new opportunities within related industries.
Personalized Content Drives Conversions: When you personalize content, you create more contextualized experiences. The customer journey raises the comfort and trust level of critical decision-makers with buying power.
Content is Key: Just as content brings in new customers and develops overall reach when marketing to the masses, realize that personalized content enhances ABM. In fact, Gartner suggests that “content is the oil that keeps the ABM machine running smoothly.”
ABM PLATFORMS – STREAMLINING THE ABM STRATEGY
Use every available resource to achieve optimal results from your ABM strategy. Integrate your marketing process with new technology and enhance human engagement. Your client partnerships will strengthen.
Streamline your ABM strategy by including best-of-breed technology platforms that specifically enhance your strategy.
GETTING ANSWERS FROM LEADERS IN ABM STRATEGIES
Televerde is a leader in initiating and developing ABM platforms, bringing together marketing and technology, delivering flexibility and helping build your marketing plan from audience development to advocacy.
When you over deliver to these customers, you have started an ongoing relationship which may lead to brand loyalty in your new customer. Televerde’s ABM platform allows for complete immersion into your users’ experience across all channels and creates real-time consumer feedback by
Getting real-time performance insight – know what strategies are working and which ones are not.
Gaining data on current conversion rates to tweak marketing plans accordingly.
Understanding the lead to a cash journey and comparing your pace against benchmarks.
Include the most significant differentiator, helping you develop solutions to drive desired outcomes.
Developing the right message, contact, and time to engage customers to drive sales.
When creating more outstanding communication, collaboration, and revenue generation, your company needs to focus on solutions. With the power that Televerde brings to your marketing plan, you have control in your hands – just decide how to execute your strategy. This will allow your business to develop insightful, sustainable, and repeatable business outcomes. For accurate results, Televerde can help you access the data you need.
Are you looking for a leader in audience engagement, opportunities, technology, and marketing strategies to help your business grow? Look no further than Televerde. Contact us today!All News & Blog