Account-based marketing isn't new, but its popularity has grown in the last few years. According to eMarketer, 92% of marketers working in the B2B market defined ABM as "extremely" or "very" important to their marketing activities.
So, which exactly are the benefits of an ABM strategy for your business? You'll find this information bellow.
1 - Marketing and sales teams alignment
Collaboration and good communication between departments is fundamental for the success of any strategy and to the success of companies as well. With ABM, this alignment between marketing and sales is highly reinforced, since the role of each part is very clear about achieving the common goal: closing high-value accounts.
The focus is no longer on a specific content or a particular channel, but on the target account, and how marketing and sales will work together to deliver the right messages in the right places at the right time.
This alignment can be facilitated with the automation tools, such as HubSpot, which makes this correlation between marketing and sales quite simple.
2 - Highly personalised communication and customer experience
ABM may require long target account "nurturing" processes, which must be consistently and maintain a logic of high personalization (of contents, campaigns, product/service information, etc.).
The personal and highly individual approach taken by ABM puts the potential customer at the centre of the communication and makes him understand that your company knows his pain points, his professional needs, and that you are in a position to provide him with a solution.
In depth, ABM maximises your company's authority. And its success comes precisely from this ability to develop relevant communication at the level of each industry, each organization, each influencer or decision-maker inside each company.
3 - Simple and shorter sales cycles
By focusing your marketing and sales efforts on specific high-value accounts, you are saving time and resources, which ultimately results in a simple sales cycle:
⇒ Identify target accounts ⇒ Nurture these accounts ⇒ Close/convert the accounts ⇒ Satisfy/involve the accounts.
So instead of experimenting different tactics to collect and qualify a high number of leads, with ABM the impacted accounts are already pre-identified as ideal for your business, which increases the chance of converting and building loyalty.
4 - Return on Investment (ROI)
ABM makes the process of measuring the return on the investment in each account much easier: it is possible to clearly identify what are the costs that were involved in the closing of a customer (resources and time invested) and their income.
Besides, several researches confirm that most companies that execute account-based marketing strategies see a higher return on investment than other strategies (Altera Group), which reinforces the effectiveness of this type of approach.
To sum up, there are clear benefits associated with developing an account-based marketing strategy. Do you think ABM could be a good fit to your organisation? Feel free to contact us and we can help you define an ABM strategy that is relevant to your business.
Content originally posted on june 2021.