Many enterprise level sale businesses have turned to account based marketing because they prefer its strategy based approach to marketing that’s designed to allow the company to connect with prospective individual customers and customer accounts. It’s a system that’s proven itself as a highly effective form of promotion. Ideally, the account-based marketing program (ABM) not only provides the business with a way to effectively communicate with and engage with customers but to also direct them to make a specific purchase.
Fundamental Factors of Account Based Marketing
- Places attention on all the decision makers within the company, creating a more diversified marketing program;
- Customize value and marketing propositions from each account and creates a program that effectively meets the company’s needs;
- Creates and utilizes messaging programs and custom content creation to address specific promotional opportunities;
- Strives to create a lifetime relationship with each customer rather than on attracting new customers;
- Places a premium on establishing valuable leads.
Three Common Account Based Marketing Tactics
ABM appeals to many businesses and organizations because it’s relatively simple to create a program that’s fully customized for the businesses needs, allowing them to connect and establish long-term relationships with their target market.
Useful tactics for this type of marketing include:
- Outbound and Inbound marketing including direct mail, email newsletter, top-of-funnel content, social media engagement, webinars;
- Digital marketing tactics which include social media promotion, personalized websites, and IP-based advertisements;
- Attending events such as job fairs and trade shows which allow the business to connect face-to-face with their customers.
According to marketing experts, understanding digital behavior and creating a system for sending personalized messages is one of the most important aspects of ABM. Getting a personalized message from a business might not inspire the customer to make an immediate purchase, but it does create brand loyalty.
Measuring the Results
Unlike other types of promotional campaigns, ABM focus on smaller groups, making it easier to measure the results, and then determine if a larger version of the marketing program is justifiable.
Signs that the ABM program is working include:
- Noticeable increase in sales;
- The sales cycle is reduced;
- Improved customer loyalty and feedback.
The long-term effects of a successful ABM program will be that each lead the program generates will cost less, particularly when they become a lifelong client.
A business that has created an effective account-based marketing program report that they appreciating the ability to quantify the program’s marketing contribution, targets both large and small accounts and creates a noticeable increase in revenue.