In a marketing and digital B2B strategy that is pushed to a high level, account-based marketing tends to become more and more prevalent among companies in any sector.
- What is account-based marketing?
- What are the benefits for your business?
- How can it be implemented within your organization?
WHAT IS ACCOUNT-BASED MARKETING?
The famous publicist and creator of the eponymous agency Ogilvy define perfectly what is the account-based marketing through the formula “do not count the people that you reach, reach the people who count”: “do not count the People you reach, reach the people who matter “.
The ABM is thus a strategic direction that is to drive a series of marketing actions ultra-targeted towards the most profitable, the most profitable, the most promising accounts receivable.
Companies that practice ABM pool and focus their efforts on key accounts previously targeted upstream by both the sales and marketing departments. These high-value-added accounts with high potential for added value will thus be the subject of actions specially designed to further develop their commercial potential.
The ABM is also accompanied by a personalized approach to each of its accounts so that the messages and offers addressed to them are as efficient as possible.
HOW TO SET UP AN ACCOUNT-BASED MARKETING STRATEGY?
Initiating an ABM strategy, therefore, presupposes, in the first place, to identify these key accounts, customers but also leads.
And for this, work must be conducted jointly by the sales and marketing teams.
Each department knows its main customers and contacts from a precise angle: sales figures and profitability for sales representatives, the market impact for marketers.
A cross-breeding of the data coming from the two key departments of the company will make it possible to bring out some key client accounts: profitable, promising and with high potential for development.
Therefore, the exploitation of the data compiled within the CRM is essential. An in-depth analysis will reveal the strong figures to connect with a particular customer and will pinpoint the leads that are most likely to pass on to the customers.
As a result of this segmentation of the database, internal meetings and brainstorming provide insights into what types of actions will have to be carried out towards this type of client and what offer should be made to such a lead.
THE BENEFITS OF ACCOUNT-BASED MARKETING
Opting for an ABM strategy is synonymous with positive results for companies and brands:
- An important ROI: by concentrating on higher-potential accounts, the ROI of operations is high as identified clients are profitable and leads inclined to take action.
- A high retention rate: once the actions are successful, customer satisfaction and thus loyalty are significantly increased.
- Internal resources are pooled: the ABM assumes that sales people and marketers collaborate intensively.
- A competitive advantage: it will be very difficult for the competitor to go and uncover the key accounts targeted by the ABM because if the actions are correctly carried out and perfectly personalized, the satisfied customer will remain in the environment of the brand.
Account-based marketing is thus a methodical, strategic and attractive approach, provided that upstream work is carried out between the sales and marketing department.
It’s up to you to tell us now if you have already initiated an account-based marketing strategy in your company. And if so, what results have you achieved.