Thursday, 28 January 2021

5 tips for an effective account-based-marketing plan

 According to recent surveys , companies that have an account-based-marketing plan generate 208% more revenue from their marketing efforts.

 Numbers like this, in addition to all the buzz related to the concept that can be observed in the market, make every company - whatever its field of activity, want to start putting ABM strategies into practice now.

 Therefore, we prepared this post with these basics and implementation strategies of ABM.

 Why is having an account-based-marketing plan important?

 Having an ABM project is most effective in situations that normally align with the business models of many industries:

  •  Sales are highly regarded;
  • There is a small set of large leads;
  • Cross-selling to the current customer base generates high profitability;
  • High customer lifetime value (CLV);
  • Strong emphasis on faster achievement of sales targets.

 How to develop the “right” account-based-marketing plan?

 Once goals are set, building a campaign around them usually consists of one of two approaches:

 Search for contacts in different divisions of companies with which your organization has already established relationships and promote the effectiveness of the work using tools such as personalized landing pages;

Identifying companies that have similar and desirable business attributes, as well as sending important contacts to direct them along the consumer's journey.

 To maximize the tactical effectiveness of the account-based-marketing plan within a marketing mix, it is necessary to choose the approach that best aligns with:

  •  The number of targeted accounts;
  • The internal structure of targeted accounts;
  • The projected monetary value of the target accounts;
  • The marketing and CRM automation systems your company has.

 5 essential tips for a more effective account-based-marketing plan

 Before launching a campaign, special attention needs to be paid to the following five issues:

 1) Enjoy your content library

 Since target accounts may lack prior knowledge or organic online interaction with your company, it is necessary to share relevant content to provide context behind their disclosure.

 Therefore, it is necessary to evaluate the content offers to see which pieces can be adapted to the needs and  pains  of the buyer personas.

 If the allocated budget allows, creating new content to fill in the gaps is a good strategy. It will also be necessary to develop a strategic cadence for delivering content that follows this general format:

 Run a targeted LinkedIn ad or other paid online channel to highlight your company among key contacts - this also gives them a chance to convert organically;

Track strategic emails, sales disclosures, LinkedIn messages, invitations to events, etc. Reminder: each offer must be unique and reflect your understanding of the recipient and your specific business needs;

Make sure that the sales and customer service teams know the steps to be followed after a contact expresses interest or converts one of your messages, so that they can approach a closed / won deal.

 2) Keep your marketing and sales teams aligned

 An account-based-marketing plan will not achieve significant results if there are no commonly understood protocols for tracking leads and what to do with those who express interest. If your company is running an effective inbound marketing program, this process will be resolved.

 3) Set goals clearly

 It is necessary to detail how the ABM plan will be implemented. Set specific, measurable, attainable, relevant and time-bound goals.

 Arbitrarily directing and contacting contacts without the right KPIs to assess success is wasting your company's money.

 A 90-day budget and deadline is recommended to determine whether your ABM campaign will achieve results according to the content of your strategy and how long to wait before obtaining final analyzes on the overall effectiveness of the campaign.

 4) Identify potential leads

 Have your sales and marketing teams define your ideal customer profile based on characteristics such as sector, size, location, past purchases, growth opportunities in different departments / divisions and annual revenue.

 Also, identify potential buyers' jobs. Use the criteria to obtain lists of companies and contacts from your marketing automation platform, CRM, social networks, among others.

 5) Define campaign technology and configuration requirements

 Choose a platform that can provide company score reports, workflows, custom, contact properties, social media ads and tracking URLs. Having the support of a digital marketing agency can be very strategic at this stage.

 Once these key pieces are in place, it's time to launch your account-based-marketing plan! Make sure:

  •  Monitor results over the duration of the campaign;
  • Schedule a periodic evaluation of the campaign to assess the achievement of goals and alignment with the budget;
  • Identify ongoing accounts that would benefit from additional care.

 ABM is a popular and effective B2B strategy for industries, especially if created to complement an existing inbound strategy. But, for your company to benefit from everything it has to offer, count on the support of specialists. 

 Click and check out our Digital Marketing Guide for Industries - totally free - to understand how a personalized digital strategy Abdul Rimaaz can add more value to your business!

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