Account-based marketing, or ABM, is a strategy more and more marketing teams have been employing to drive high-quality leads for strategic accounts. ABM is not a new concept, but there are many things that can be done to ensure success. Below, I’ve outline a few tips to help you get started.
1. Get Aligned
All marketing channels have to be on the same page when it comes to the ABM strategies. It’s important to remind the user of your product on all levels: SEM, Display, Direct Mail, Email, Social, Native. Be sure to have assets ready and aligned and have a planned approach to your ABM strategy.
2. Get Personal
Targeting accounts at the interest level is important. It makes it clear that the product is relevant, which is necessary for success. Here are some key metrics to target:
- Intent: You need to consider your audience and what their motivations are. The accountant doesn’t care if your product can develop a form on your website in three easy steps. They do care, however, if your product will offer a one-click billing solution. Be sure to put the right message in front of the right person by targeting job title and search results that can help you understand intent.
- Engagement: If a person clicks on your ad and later goes back to your website to sign up for a demo, you have some real insight to share with the sales team. This person wants to learn more and should be considered a hot lead.
3. Get Connected
Technology can help find prospects, evaluate intent, and keep this data organized to get the opportunity closed and won.
- Understand your customer – not just what you know about your existing customers, also what you need to know about your future customers.
- Create lists that can help you target your highest-valued customers and users who look like your existing customers.
- Connect your CRM data into a platform that will reach the prospects in your list. Make sure to test your match rate to ensure the setup is worthwhile.
- Gather and organize data to help your sales team do what they do best – SELL. The sales team should have a steady list of qualified leads with data to prepare them to make the sale. It is the responsibility of the marketing team to provide that steady stream of qualified leads and info.
4. Get Organized
The user data is there; the tough part is how to build out the segments. There is no magic number of accounts to target at any one time. You want to make sure that the targeted accounts get the royal treatment so make sure you have the resources to reach out to each of those accounts to keep your product top of mind.
Once you figure out how many accounts you can handle at a time, you will want to split out your lists and tier accounts based on value. Here are some ideas to get you started:
- Recent Interaction/Volume of Account Visitors
- Funnel Stages
5. Get Creative
Copy should always be as focused as possible in all stages of the funnel; this is even more important when you are targeting high-stakes accounts.
Here are some questions you can ask yourself to build out your creative or structure your dynamic content.
- Contact: Are you talking to the decision maker or an influencer?
- Stage: Did they get a demo or a free trial or did they just visit the homepage?
- Location: Is your product available in all locations or exclusive to certain regions?
6. Get Results
Make sure there is a plan in place to measure the results of your strategy. Find KPIs for each segment and have the ability to match them up in order to measure success. Create a holdout group in order to assure clean test results. Keep a close watch on progression down the funnel as well as engagement volume and frequency from each of your targeted accounts.
There is a reason people are buzzing about ABM: it works. If you’d like to connect with the 3Q team to get started, contact us here.