Expert Account-Based Marketing

Account-based marketing is a commonly utilized technique by marketing teams to focus on top-quality prospects and convert them into valuable clients.

Instead of concentrating on attracting large volumes of leads, strategies in account-based marketing enhance visibility through personalized campaigns that aim at influential decision-makers of high-worth accounts.

If you encounter challenges in sourcing high-quality leads or determining the most efficient methods for acquiring and converting them, proceed to explore the advantages of account-based marketing and the recommended steps and strategies for executing it within your sales and marketing squads.

Defining Account-Based Marketing

Let’s initiate from the very beginning with a definition of account-based marketing.

Referred to as ABM, account-based marketing, unlike traditional marketing techniques, personalizes campaigns to target specific companies rather than broad audience groups.

It essentially flips the inbound marketing approach on its head.

Instead of aiming to draw in a large pool of prospects and then tailoring content to guide ideal prospects through a funnel, account-based marketing strategies commence from the end of the funnel, i.e., the bottom.

Essentially, this implies commencing with your target accounts and crafting content and campaigns that cater to specific individuals within those companies.

And it’s effective; as per account-based marketing statistics from Momentum ITSMA, 81% of participants noted a superior ROI from ABM campaigns compared to other marketing strategies.

While tactics may vary owing to company variables, ICP (Ideal Customer Profile), and target audience, ABM generally:

• Is most advantageous for enterprise-grade clients due to the substantial effort and time involved.

• Necessitates alignment between marketing teams (ABM team) and sales teams.

• Utilizes marketing automation and other ABM tools to streamline stages in the process, such as automating lead generation or email sequences.

• Establishes personal connections with decision-makers (crucial for B2B ABM).

Contrasting Account-Based Marketing with Lead Generation

Account-based marketing and lead generation represent contrasting approaches to populate your sales funnel; however, they can complement each other.

Imagine you manage an enterprise SaaS firm and target financial institutions. In conventional inbound marketing, you might produce content for the entire financial sector and wait for inquiries.

In the context of lead generation, you’d research financial institutions to identify a broad array of potential customers for your sales funnel.

In contrast, ABM strategies initiate from the funnel’s end, utilizing tailored campaigns to focus on specific individuals within companies that fit your ICP.

By integrating lead generation with account-based marketing, you can pinpoint prime leads for ABM and ensure you possess all the crucial data for successful campaigns.

How Does this Align with an Account-Based Marketing Approach?

Let’s persist with our illustration. Through ABM, rather than targeting individuals from financial institutions broadly, you start by zeroing in on your ideal customer companies.

For instance, you might monitor website visits or conduct prospect research and then curate content and marketing strategies precisely tailored to those entities.

This distinctiveness is what sets ABM apart from conventional marketing methods.

It might seem a bit unconventional. I understand. Let’s simplify with an example.

In regular marketing, you would publish a blog post on how your SaaS solution aids in averting accounts payable fraud.

You’d promote it by targeting financial institution employees on social media platforms.

That’s the traditional approach seen over the years.

Does it still yield results? Sometimes.

However, there’s a better path.

With ABM, you determine your targets first, then delve into their concerns.

If you unearth concerns about accounts payable fraud, you tailor content that addresses that challenge.

Imagine traditional inbound marketing as casting a wide fishing net; you catch whatever comes your way, right?

Whereas ABM is akin to using a precise bait that your ideal fish favors—and there are many advantages to targeting individual fish.

A Comprehensive Guide to Account-Based Marketing

Explore what ABM entails, how it amplifies lead generation, and how it propels pipeline growth.

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Advantages of Employing an Account-Based Marketing Framework

In Foundry’s 2023 survey, 93% of participants found their account-based marketing strategy to be either ‘very’ or ‘extremely’ effective.

Why are numerous B2B companies gravitating towards this approach?

Let’s delve into some of its benefits:

1. Account-based marketing yields superior ROI.

2. ABM operates more efficiently by pinpointing specific accounts instead of broad keywords.

3. Organizations leveraging ABM experience shorter sales cycles.

4. ABM fosters trust with clients by showcasing a deep understanding of their requirements.

5. ABM prioritizes lead quality over volume—resulting in higher average contract values and superior deal magnitudes for sales teams.

6. Investing in ABM fortifies brand trust, boosts customer retention, and bolsters the sales pipeline.

Is Account-Based Marketing Limited to Enterprises?

No, ABM isn’t exclusive to enterprises. In truth, the strategies can be tailored to target any B2B clientele with inventive ABM concepts.

Enterprise clients generally boast extended lifetimes, making them ideal ABM targets.

Yet, ABM techniques can be adapted for small businesses as well. For instance, if your offerings are highly personalized or necessitate repeated purchases, ABM can prove successful with smaller clients.

If you’re uncertain where to start or what ABM tools exist, keep exploring.

Diverse Account-Based Marketing Approaches and Effective Tactics

Account-based marketing focuses on obtainingachieving a superior ROI from your sales funnel. Similar to most business tactics, there is no universal method for ABM. You can utilize a basic structure and adapt it to suit your company.

An initial step is grasping the fundamental forms of account-based marketing.

Strategic ABM: one-to-one

Strategic ABM involves taking a personalized approach with highly valued accounts. Your marketing and sales teams will craft unique content to address the requirements of each account.

When applying this ABM tactic, narrow down your list to one to five prospects. This enables you to generate highly individualized content designed around each specific customer pain point and necessity.

For example, let’s consider a SaaS enterprise focusing on a health maintenance organization (HMO). The company produces customer-centric content showcasing white papers and case studies. The ABM content highlights the tangible advantages of their product for distinct HMO use scenarios.

An individualized strategy necessitates substantial attention and resources. Prior to commencing, assemble a team with diverse levels and roles, including a proficient ABM manager.

ABM lite: one-to-few

An approach involving a few accounts permits your teams to identify the ideal middle ground between inbound marketing and ABM. This methodology, also recognized as ABM lite, segments high-value prospects into clusters.

Each cluster shares common characteristics and adheres to defined criteria. Consistent marketing materials are employed for all B2B prospects within the same segment.

Implementing an ABM lite strategy enhances the effectiveness of custom content and campaigns. For instance, multiple companies of similar size and industry can engage in the same workshop or webinar.

Programmatic ABM: one-to-many

A programmatic ABM approach, also referred to as a one-to-many ABM tactic, necessitates a less detailed comprehension of high-value accounts.

All marketing and sales endeavors bring a degree of flexibility. The one-to-many methods empower you to adopt standardized marketing funnels for hundreds or even thousands of target accounts.

Your team should be proficient in tailoring experiences for each prospect, although they are not expected to handle everything independently.

Sales and marketing automation tools, like Facebook Ads, can aid in personalizing content, while business intelligence applications, such as your CRM, can merge data to offer enhanced capabilities.

For instance, a tailored Facebook ad campaign could be adjusted based on company data such as sector, niche, scale, requirements, or location.

What are the essential account-based marketing guidelines to adhere to?

Deploying account-based marketing entails a collaborative effort from multifaceted teams. If you execute your strategies correctly, you have the potential to gain new and substantial revenue streams.

Follow these ABM guidelines to maximize the effectiveness of your marketing approach.

Embark on your investigations; harness data insight

ABM commences with comprehensive research to pinpoint high-value prospects. Allocate as many resources as plausible to comprehend your market and companies aligning with your ideal customer profiles.

Conduct rigorous research. Ascertain the market stance, strengths, weaknesses, and aspirations of your target organizations. It is essential to identify the prime opportunities for your organization using resources like industry reports, news portals, social platforms, and other online outlets.

Pursuing weak leads is a direct path to disappointing outcomes in your ABM initiatives.

Harmonize your teams

Marketing and sales departments often operate in isolated silos with divergent objectives. It should be apparent that traditional methods are ineffective in account-based marketing. 

Both departments need to collaborate in segmenting prospects and developing detailed buyer personas. Utilize collaborative platforms to exchange account data and internal documentation at every touchpoint. Establish account-specific communication channels for team interaction to enhance teamwork.

Emphasize relationship cultivation

Fostering relationships is vital for the success of any account-based marketing strategy. How can you establish trust and rapport with potential clients? Deliver value at each stage of the journey.

Employ targeted communication to demonstrate your understanding of the account and its challenges. Customize campaigns with relevant industry guides and whitepapers tailored to the prospects’ needs.

Consistently engage with target accounts. Reach out and communicate your readiness to assist in problem-solving. Be transparent about the capabilities and limitations of your products for them.

Leverage appropriate resources

Implementing a novel ABM tactic demands numerous resources. Maximize the benefits of your new venture by utilizing the correct business tools to streamline ABM processes.

These are some of the tools your organization should leverage:

CRM: A customer relationship management system ensures continuous updates on account progress.

Marketing automation platforms: Simplify content creation and automate customization for content.

Account data enrichment applications: Merge target data with your existing tools and utilize AI for enhanced prospect understanding.

Web personalization solutions: Monitor website visitors and customize user experiences.

Analytics: Employ a variety of tools to collect and assess data from prospect interactions. Utilize tools that centralize and merge data for improved insights into accounts.

Monitor and refine your strategies

No account-based marketing framework is flawless right from the start. Regardless of how well things are progressing, there is always room for enhancement. 

How can you refine your ABM strategies? By monitoring the buyer’s journey at every phase. Basic tools like Google Analytics are beneficial for tracking website performance. Integrate these insights with other ABM tools to identify blind spots and hindrances in your marketing funnel. 

Commence your account-based marketing blueprint in six phases

Now that you comprehend what account-based marketing entails and its potential for boosting company growth, let’s delve into the practical steps to implement this process.

Phase 1: Collect data by identifying the companies you aim to target

Prior to developing a strategy, your initial step should involve identifying your target companies. 

Begin by utilizing a visitor identification tool to recognize the visitors on your website; this gives an indication

An interest level in your offering is crucial.

Consider examining the tools you currently utilize for marketing, like your email database and CRM system, to identify potential leads. You can also employ prospecting tools such as Dealfront to actively seek out companies within your target market.

Concentrate specifically on high-worth enterprises as they are optimal for the ABM strategy.

For instance, CloudTalk, a firm specializing in intelligent call center software for brands, recently initiated the practice of account-based marketing.

Through the utilization of Tenten, CloudTalk successfully pinpointed and approached 1,000 new prospects on a monthly basis who had visited their website but had not signed up for a trial.

CloudTalk tailored personalized ABM campaigns towards the top 20 most engaged users on their site. This approach enabled them to onboard an additional 20 companies for their free trial every month.

Keep in mind that these are corporate clients, not sporadic purchases from an online shopper. The sign-ups could potentially yield hundreds or even thousands of dollars monthly.

Step 2: Categorize the data  

Now that you have compiled a list of potential leads, it’s time to sort them into categories. Utilize LinkedIn and the company’s website to discover key contacts.

While LinkedIn’s Sales Navigator can be highly beneficial in this process, intensive tool usage may not always be necessary with a bit of manual effort.

The CEO might not be the most viable target, given their likely busy schedule; however, the marketing manager or executive assistant in the HR department could be a more suitable choice.

Collect the names, email addresses, and inquiries they have made in online forums or on LinkedIn and compile all this data into a spreadsheet.

Step 3: Evaluate your prospects for various account-based marketing campaigns

Once you have a roster of potential leads, it’s time to assess them.

Which prospects have revisited your website multiple times?

Who has posed queries in forums indicating an interest in a solution similar to what you provide?

Among each organization, who is the most reachable contact?

For example, has a Senior VP shared one of your blog posts on social media or asked a question to which you could respond in a LinkedIn Group?

These active leads should be the primary focus of your initial endeavors.

ICT company Triuvare, for instance, views customers downloading their ICT Tendering Guide as hot prospects—acknowledging that those obtaining this guide are very close to making a purchase, they strive to showcase Triuvare as the optimal choice.

Step 4: Develop content for prospects

Once you have identified your prospects, it’s time to allure them.

This is at the core of ABM—crafting personalized content. This content may range from blog articles, emails, adverts, white papers, and more.

The key objective is to address the challenges a specific company encounters or the barriers preventing them from conversion.

For example, ROI Amplified discovered that their in-depth content, which they believed would generate interest by showcasing their technical prowess, was drawing traffic from universities, potentially from students exploring marketing, who may not be interested in purchasing their product.

Step 5: Associate content and message with persona and account

Now that you have crafted outstanding content and an ABM content marketing strategy, it’s time to deliver it to the right audience.

Begin by formulating campaigns tailored to each tier and persona, then tailor your approach for every marketing channel and tier.

You developed this content for a distinct audience, correct? Hence, it’s sensible to personalize the outreach as well.

Personalization, at its core, epitomizes ABM.

The strategy employed to dispense content could involve LinkedIn advertising, email campaigns, direct mail, or precisely targeted PPC ads; the choice hinges on the platforms frequented by your audience.

For instance, LMCS employed account-based marketing and visitor data gathered from Tenten to compile relevant lead lists.

Subsequently, their sales personnel visited these leads’ websites to ascertain their potential as customers.

They collated contact details from promising leads and then disseminated content via targeted email campaigns.

The outcome?

They reached out to a total of 75 companies, secured 14 appointments, and dispatched 12 offers. A triumph in ABM.

Step 6: Observe the inflow of revenue

In all seriousness, ABM is a highly effective strategy for attracting and engaging leads.

According to a study, 87% of B2B marketers acknowledged that their account-based marketing approaches were more fruitful compared to other marketing tactics.

Seven metrics crucial for tracking in account-based marketing

There exists a plethora of data to evaluate during your ABM implementation. Which metrics aid in sieving through the noise and keeping a pulse on your account-based marketing?

1. Account engagement: Monitor the engagement of each firm with your marketing content. This metric reflects the relevance of your account-based marketing.

2. Account progression rate: Tracks the pace at which prospects advance through your sales pipeline. It sheds light on potential bottlenecks or ineffective strategies.

3. Sales cycle length: The average duration it takes for your team to finalize a sale. Similar to the progression rate metric, the cycle length gauges the efficiency of your existing pipeline and sets the groundwork for enhancements.

4. Account churn rate: The rate at which target accounts exit your ABM funnel. Compare this rate against industry benchmarks for quick performance evaluations. Monitoring this rate also aids in assessing strategy changes.

5. Customer lifetime value (CLV): The total expenditure of a customer throughout the relationship with your company. It offers a robust indication of whether your team is targeting the right accounts effectively.

6. Customer acquisition cost (CAC): Tracks the expenses incurred to acquire a target account. Compare this figure against the customer lifetime value to ascertain your ROI.

7. Conversion and win rates: Monitor the success of your marketing and sales endeavors. Analyze stages in the buyer’s journey with low conversion rates.

Illustrative account-based marketing instances to spark your campaigns

According to Gartner, ABM elevates overall account engagement by 28%. While this statistic sounds impressive, what does it translate to in practical scenarios?

Lets delve into a few account-based marketing illustrations.

SaaS

Intent data platform for B2B, Tenten, leveraged an ABM tactic to enhance its business. Identifying companies aligning with their Ideal Customer Profile (ICP) marked the initial step.

Subsequently, Tenten utilized its proprietary tool to track website visitors and pinpoint potential valuable accounts. Integrated filters ensured their focus on companies meeting specific criteria. Updates, alerts, and automation mechanisms kept the team abreast of account activities.

Employing ABM strategies, Tenten targeted companies displaying interest and relevance to their services. Thanks to this tailored strategy, the company now boasts over 60,000 client accounts.

B2B marketing

xGrowth, a firm aiding tech companies in crafting ABM strategies to reach high-value targets, uses Tenten to gather account-specific engagement insights for each opportunity. The collected data assists in measuring intent signals and overall campaign effectiveness.

As a B2B marketing agency, xGrowth aids tech companies in tailoring marketing campaigns specifically for their target accounts.

Execute account-based marketing utilizing Tenten provided by Dealfront

When it comes to strategies in account-based marketing, one aspect often gets disregarded in the discourse.

With the plethora of tools and access to extensive information, it can be simple to overlook the fact that human interaction still plays a pivotal role.

Irrespective of whether your target audience comprises of B2B professionals or retail shoppers, at the core, we are all people engaging with other individuals. 

Although account-based marketing might exhibit maximal effectiveness with enterprise clients, the primary goal remains establishing personalized relationships with primary stakeholders and the individuals involved in making decisions.

Data should provide you with profound insights into the persons you are engaged with; otherwise, it’s not fulfilling its intended purpose. Tenten facilitates identifying companies visiting your website and enriching their profiles through data sourced from our fully compliant databases situated on EU servers. Seamlessly connect the dots utilizing over 50 diverse filters, automated lead scoring, and a repository of more than 180 contacts for crucial decision-makers.

By building robust and genuine connections with prospects, you will lay a sturdy groundwork essential for nurturing long-term, loyal customers.