Best Account Based Marketing Strategy With Tools (2022)
According to TOPO’s Account Based Benchmark Report, 86% of marketers claim that their account-based strategies generate more business than conventional approaches, while 80% claim that ABM increases customer lifetime value and 76% claim superior ROIs.
It should come as no surprise that interest in this B2B strategy has grown over the past five years given the statistics surrounding account-based marketing.
ABM was at risk of becoming a buzzword for a while and becoming meaningless beyond its own hype, but interest has stayed strong and the technique is still effective.
What is Account Based Marketing?
Account-based marketing (ABM) is a company marketing technique that focuses resources on a specific group of target accounts within a market.
In order to engage each account, it uses customized campaigns that base their marketing message on the particular characteristics and requirements of each account.
ABM also looks at marketing more broadly than just lead creation. One of the keys to generating the maximum value from your largest accounts is marketing to current client accounts to drive upselling and cross-selling.
How does Account Based Marketing Work?
Account-based marketing is a strategy that can be divided into three main stages: identification, marketing, and measurement.
The first step is to determine which accounts (i.e. companies) you want to sell to or gain as clients. This procedure is similar to creating a buyer persona, except that instead of identifying people based on general characteristics (e.g., age, position, business needs, etc.), you create a list of companies to target.
This list can be created in a variety of ways, but it typically contains the items listed below:
- Both former and current clients (ones that generate a decent amount of profit for your company)
- Competitors of your clientele (and former clients)
- Organizations that frequently visit your website
Furthermore, in today’s business world, when it comes to selecting new products or services (particularly new technologies or software), more than one person is frequently involved in the decision-making process.
As a result, it’s critical to identify and include the key decision makers at these companies on your list.
The next stage is to market to the accounts (and important individuals) you have chosen as your target market.
This entails developing marketing initiatives and content that is directed at the accounts you want to reach and progress down the sales funnel. Personalizing your website, landing pages, email campaigns, and ebooks or whitepapers is one way to do this.
Real-time personalization is another critical aspect of ABM. Personalizing the content and user experience at each touchpoint not only increases engagement, but also allows you to better guide your prospects through the decision-making process and buyer’s journey.
It’s also worth noting that account-based marketing isn’t just for marketing; it also includes account-based advertising and account-based retargeting, which involve creating display-advertising campaigns with personalized messages targeted at key decision makers at your ideal accounts.
Analyzing different indicators than you would for conventional advertising and marketing activities is necessary to determine the effectiveness of your account-based marketing efforts.
The ultimate success (or failure) of your ABM initiatives cannot be determined by metrics like clicks, impressions, and page views. Instead, you should focus on the kinds of businesses engaging with your brand on your website, on your social media accounts, and even with your sales team.
Bring clarity and transparency to your ABM efforts with laser-focused ad targeting on just the right audience with Infotanks Media.
Build and deliver highly targeted and relevant ad campaigns that reach just the right individuals at your target accounts across all major ad networks.
Best Account Based Marketing Tools
All of these tools are quality software solutions in their own right and it all comes down to what you need from an ABM tool and how much you’re willing to pay.
In 2022, Gartner identified Demandbase as a leader in ABM. This ABM platform offers a market study of the ABM industry and assesses the goals of ABM dealers. They are more aware of the growing significance of ABM solutions as businesses seek to gain from a stronger partnership between marketing and sales.
As a result, you can manage your campaigns and distribute impressions among accounts and users. Analyze the impact of clicks on deals, pipeline, and income on a per-person or per-account basis. You don’t need to worry about where your advertising will appear tonight because you have total control over ad destinations. Demandbase will therefore assist you in safeguarding the reputation of your company.
- 6 sense
With an end-to-end account-based platform created for your whole go-to-market team, 6sense is an Account Engagement Platform where you can increase pipeline and revenue. Teams from marketing, sales, and operations are brought together by it. They decide the high-value clients and relationships to deal with, as well as the topics that are most important to them.
Additionally, your target market is powered by the insights, intent, and AI-driven capabilities of the 6sense. As a result, you can design individualized, consistent, and relevant experiences for every step of the customer journey, including cross-selling and renewal. Additionally, improve sales with account insights and track outcomes with in-depth reporting and analytics.
RollWorks is a cost-effective Account Based Marketing tool prospecting and targeting your ABM advertising campaigns.
RollWorks is an account-based marketing platform designed specifically for managing paid advertising campaigns.
The platform assists you in identifying high-value prospects, engaging them with targeted ad campaigns, and measuring results with built-in analytics and reporting.
Audience matching on RollWorks is also impressively accurate, thanks in part to the extensive targeting options available, but the data quality must be high to begin with.
Plans start at $975 per month and go up depending on how much data you need and how many users you have. One thing to bear in mind with the enterprise plans is that the dedicated account managers you receive with the more expensive plans change too frequently to warrant the increased expense.
Top B2B companies like Autodesk, Qlik, Aruba, Boomi, etc. rely on Folloze. They have 1.5 million active accounts, 3,000,000 campaigns that have been run, and millions of interested customers. No-code experiences can be created in a few minutes. At any stage of the buyer journey, any marketing campaign can be created quickly.
Notably, by utilizing it, you may tailor and lead customers through their distinctive experiences at an enterprise size by utilizing your existing data, content, and message. You can use it to study your target accounts and comprehend your customers’ demands, difficulties, and stages of the buying process.
The account-based marketing software from HubSpot isn’t an independent ABM product. The company’s Marketing Hub Professional and Sales Hub Professional solutions are packed with it.
Therefore, this choice enables you to handle everything from a single system if you like the way HubSpot’s software looks and want a fully integrated ABM tool that blends in with your sales and marketing platform.
Additionally, you receive strong automation capabilities, a number of tools to assist you in managing inbound marketing campaigns in conjunction with your ABM approach, and some outstanding personalization options to make your communications more enticing for recognised accounts.
The starting price for HubSpot’s Marketing Hub Professional is $9,600 per year, which includes 1,000 connections. By the time you have 10,000 contacts, your annual fees will be $15,000, plus an additional $3,000 for onboarding.
Account Based Marketing Strategy Benefits
For B2B organizations that target bigger accounts, account-based marketing is becoming more and more common. Account-based marketing has significant advantages over other marketing strategies for businesses looking to sell to large accounts with lengthy sales cycles and sizable deal sizes.
- Personalized marketing approach
Instead of using a generic strategy, marketers develop personalized messaging for target accounts by using the information they already have about their target audience to customize the campaign’s creative materials to suit their unique wants and characteristics.
- Aligning marketing and sales
In order to align and move individual accounts through the pipeline, both before and after lead conversion, marketing teams and sales organizations must collaborate.
This involves identifying target accounts, creating campaigns that are specifically tailored for them, and collaborating to identify target accounts.
- Reduced sales cycle length
Numerous parties are involved in significant buying decisions. Because it begins at a lower level in the business and proceeds slowly toward the key decision maker, this usually slows down the sales process. The cycle is reduced with account-based marketing since all prospects are cultivated at once.
- Better ROI
Of all B2B marketing strategies, account-based marketing offers the highest ROI since it is precise and measurable. Account-based marketing outperforms all other marketing strategies, according to 85% of marketers who track ROI.
- Fewer wasted resources
The accounts that are most likely to close sales receive a restricted focus of time and resources. Resources that would have been thrown away are now freed up.
On your landing page, 98% of your prospect audience will never convert. In most circumstances, only 1 out of every 4 interested prospects completes a lead form.
With Infotanks Media you’ll obtain actionable insights on which prospects visited your website and captured intent data, giving your sales and marketing team the data they need to go after the most engaged ABM prospects, even if they never fill out a form.
View your overall ABM campaign analytics in a simple dashboard and keep track of all engagements across important accounts, buying groups, and decision-makers. View your total impressions, clicks, and reach broken down by campaign target.
Infotanks Media readily interfaces with your favorite CRM, MAP, and Sales Engagement tools to enhance and expand your ABM strategy.
What are the Important Steps in Creating an ABM Strategy?
5 Core Components of a Successful ABM Strategy
-Build the Sales Bridge. A key part of implementing ABM is to establish alignment between sales and marketing leadership
-Define Your Segments
-Align Your Plays
-Empower Sales and Marketing
-Host Consistent Planning Sessions with Territory-level Managers
What are some common mistakes in account-based marketing?
Here is a list of common account-based marketing mistakes you need to avoid to give your business a fighting chance:
- Not knowing your customer.
- No clearly defined strategy.
- Communication breakdown between teams.
- Making too many assumptions.
- Using a one-size-fits-all approach.
- Ignoring the importance of data technology.
Their exclusive technology users list is an outlet of data that embeds contact details of users of various technologies including hardware, software, and IT to help channel marketing messages to decision-makers of tech companies across the globe.
What is Account-based marketing vs Lead generation?
Account-based marketing (ABM) is a systematic method to lead creation in which you focus your time and resources on a specific group of accounts. Lead generation generates leads, while ABM qualifies and targets those leads before marketing to them.