Account-based marketing, or ABM, allows you to identify and prioritize high-value companies.
With ABM you can engage with businesses individually. This allows you to target specialized segments and craft individual content, communication, and campaigns for your accounts. You can interact with them on a more personal level. Speaking to their specific needs, pain points, and growth goals. This makes your customers feel heard and happy, which brings confidence and loyalty. It shows you’re listening, and it works.
Here are just a few examples of why you need to master ABM:
If ABM increases revenue, what drives ABM?
Data and data-driven insights!
For ten years we have been analyzing data and delivering insights from it. We’ve learned some of the secrets to creating successful ABM campaigns, and we want to share them with you.
Secret #1: ABM isn’t for everyone
Many businesses feel the need to implement an ABM program because of its well-documented success. It’s become an industry buzzword that crops up in books, ads, and countless website impressions each day. But to get this much-sought-after ROI increase, you need to take the time to decide if ABM is truly the best fit for your organization.
How do you know?
There are different approaches to ABM, but, on a general level, it is an individual campaign for each of your target accounts. As such, ABM is an ideal fit for enterprise accounts with complex, longer sales cycles due to the expenses, time, and resources that go into executing these campaigns. For example, high-value accounts may need a lot of 1:1 conversations and require input from multiple decision-makers along the way—an average of seven decision-makers—especially on larger deals.
The amount of time, effort, and resources simply makes some types of ABM unfeasible for smaller firms.
Secret #2: ABM can be used with standard targeting techniques
Firmographic data helps you prioritize accounts to target for your ABM, but technology intelligence is what takes your program to the next level.
Tech intelligence zeros in on your Ideal Customer Profile—using TAM SAM SOM—by revealing a company’s existing tech stack and how much it is spending in different IT categories. Insights into their technological footprint helps you execute better ABM campaigns because you can tailor your messaging to address a company’s pain points directly instead of trying to engage them with a generic message.
David Crossman, Global Director of Customer Solutions at HG Insights, shares,
Secret #3: ABM is both a marketing and sales initiative
For all intents and purposes, think of ABM as ABSM, account-based sales and marketing, because the best results come from a synergy between sales and marketing teams.
From targeting through execution, both teams need to collaborate to succeed. This can look like conferring on priority accounts, identifying and sharing metrics, and establishing what a successful campaign yields. If marketing makes content that’s relevant to a very targeted audience, it’s important that sales teams follow up and base conversations around that specified content. This is why sales and marketing alignment is so necessary.
Many organizations struggle with aligning sales and marketing teams to collaborate on joint initiatives. We’ve seen how hard it can be to implement. Though developing this relationship with employees is an opportunity for growth, it leads to both future success and immediate gains! ABM gives your sales team more valuable inbound leads and increases the chance of a demo or 1:1 conversation with the target audience. All of which leads to an increased ROI.
Secret #4: ABM never sleeps
To keep your communications, content, and campaigns highly personal and relevant, ABM requires consistent refining. This means you have to methodically reach out to your target accounts on a regular basis with desirable, personal messaging. ABM only increases conversion rates if you’re able to grab your accounts’ attention and keep it.
Crossman continues: “ABM accounts invariably are the largest and most complex. Based on HG’s tech intelligence, we can unpack those complex organizations to understand the truly global nature of the account, and its subsidiaries, to fuel effectiveness. ABM can provide your prospect with highly relevant thought leadership content, and show, for example: ‘How does their technology investment differ from their nearest competitors?’ This allows them to benchmark their performance vs. an industry average and see where they fit into the overall landscape. Our insights ensure your ABM program is fuelled with the right message, at the right time, to the right target.
This is another advantage of HG’s tech intelligence. By reviewing billions of documents each month and constantly updating information on IT stack, spend, and contracts, you’re always one step ahead of your customer’s needs.
And the competition.
ABM With Technology Intelligence
Tech intel enables us to take certain aspects of ABM (or ABSM!) and create highly personalized sales and marketing strategies for each of your accounts. The key is to pick the right strategic fit for your organization, sales cycle, and situation.
Through each of these stages, the data you use will impact your decision-making. You need quality data with extreme precision to maximize your ROI.
You need the “holy grail” of data.
Just like a successful ABM campaign, HG Insights offers personalized demos to show you why your sales and marketing teams need technology intelligence.