ABM is popular among B2B marketers as an increasingly important part of a company’s integrated marketing mix. The abovementioned approach complements conventional strategies of lead generation, targeting short-term results while the pursuit of sustainable business revenues is the ultimate goal. ABM targets certain important accounts within an organization where the marketing and sales departments work hand in hand to target the account with relevant and appropriate content. This alignment is important since it will enable a firm to engage intended target accounts and achieve great business outcomes.

ABM is a strategy that uses the resources to target pre-defined set of target accounts. It requires that marketing and sales teams to be in synergy hence calling for account level personalization. This is done through the coordination between departments; marketing and sales, to sale to certain accounts using programmes and messages that are best suited for them. This a form of ‘strategic targeting’ not only makes efforts more efficient but also results in better returns in a shorter span of time.

At Lean IT, we know the value of ABM and what it can bring to your business as a new leading method. We offer account marketing solutions to ensure organisations are helped to achieve their objectives via marketing strategies. Through the identification of thebest customers, that is, high value accounts, and integration of marketing with sales, Lean IT guarantees thatyour organization will be able to garner the most out of your marketing hence getting the most out of your sales.

What Is Account-Based Marketing?

ABM is a tactical marketing methodology that aims at targeting particular desirable profiles or potential accounts. While most marketing efforts find ways and means within an organization to pull in as many leads as possible, ABM focuses on a specific set of accounts and deploys distinctive marketing processes to them. This type of targeting process needs synergy between marketing and sales to discover major opportunity areas and develop market-specific marketing interventions.

Key Components of ABM

1. Targeted Account Selection: Targeting a group of prospects containing the best potential customers who would prefer to do business with you.
2. Personalized Marketing Campaigns: Creating targeted marketing messages that will effectively address the particular needs and wants of all targeted accounts.
3. Collaboration Between Marketing and Sales: To make sure that the marketing aspect of that particular business or the company is in harmony with the sales aspect with regards to targeting the accounts that are potential and making those accounts customers.

Why Use Account-Based Marketing?

The ABM is especially effective for B2B businesses that utilize the ‘sales and marketing efforts on a limited quantity of key customer accounts.’ This approach enables businesses to:

• The dissemination of these resources should also be geared towards high value clients who are likely to contribute more revenues to the business’s revenue.
• Segment marketing messages and approaches in order to best fit the situation and objectives of each target account.
• Enhance customer awareness so that the marketing campaigns embarked by the firm get closer to the overbearing sales departments.
• Thus, achieve greater marketing efficiency and procure higher ROI through identifying the accounts that are most likely to convert.

Who Benefits from ABM?

ABM benefits a wide range of stakeholders within an organization:

• Sales Teams: Receive more efficient instruments and assistance from marketing Contact to interact and sell on value accounts.
• Marketing Teams: Increase target account awareness and have improved target account marketing strategies.
• Customers: Get relevant interactions and content that will help them to address their needs and issues.
• Organizations: Get better returns on the investment spent on marketing and produce large increases in revenue.

How Lean IT Can Help with ABM

At Lean IT, we offer unique account-based marketing services which are useful in helping organizations execute and enhance their ABM efforts. This way of working guarantees that your marketing as well as sales departments are synchronized and that your marketing initiatives are specific and proper.

Steps to Implement ABM with Lean IT

Step 1: The first step involves for the recognition of High Value Accounts.

The first thing about ABM is to define target or strategic accounts, which are those likely to gain from your products or services. This requires you to assess your existing clientele and then select the accounts that are fitting of your notion of the perfect client. These include the kind of industry, its expected revenue and compatibility with your business entity.

Step 2: Map Individuals to Accounts

After that, there will be the process of mapping out of the specific accounts and decision makers & influencers belonging to these accounts. It involves making a distinction between ‘users’, that is, people who have a need satisfied by a product and a ‘buyer’, that is, decision-maker who is directly involved or influences the process of purchasing. It is very important to engage these key stakeholders when deploying your ABM strategy.

Step 3: Define and Create Targeted Campaigns

Once you have your target accounts and key stakeholders, the process that continues next is one of the successful account-based marketing campaigns which appeals to each account. This involves developing messages that are likely to meet all the needs and tackle all the issues of each account. The purpose is to target the decision makers in the study and be productive in the long run with the aim of setting up long term rapport.

Step 4: Identify the right channels

But it is also necessary to know the most effective channels to get to your target accounts to optimize the results of your ABM campaigns. This could therefore involve usage of emails, social media platforms, direct mails, events and others. The important thing to consider is what kind of channels would have the highest chances to reach the target audience and present the personalized content.

Step 5: Develop a Strategic Playbook

A strategic playbook defines marketing & sales teams’ specific tasks into implementing the ABM strategy shaping your strategy. Here it becomes the scope of the present work to define the tactic and strategy to be used targeting accounts and general communication and outreach timetable. It is important that there is a synchronization of the efforts being made by both teams which is only possible when the playbook is well-defined.

Step 6: Execute Your Campaigns

Now that you have your playbook in hand it’s time to run your ABM campaigns. This refers to contacting target accounts through a number of approaches that include sending e-mails, sending letters and other related materials, conducting of events among others. The target is to connect with the prospective buyer to turn them into a customer at the buying process.

Step 7: Measure and Optimize

The last stage in the application of ABM is critically evaluating your efforts and determining the convenience of making changes. This includes the monitoring of activity rates such as conversations, conversion rates as well as revenues derived from the target accounts. With reference to these metrics, you are able to appreciate areas of strength and weakness hence improving your campaign.

Benefits of Account-Based Marketing

Improved Customer Engagement

The implementation of ABM enhances the delivery of fresh content that is relevant to the target account hence improving on the customer satisfaction. To which concerned by the particularity of the characteristics of each account, the organisations can take a better stand with the customers and get more customer engagement.

Increased Sales Efficiency

ABM especially focuses the marketing and sales activities, hence, it makes the sales efficient and effective. Marketing can make its contributions serving as enablers for the sales force call planning and execution process by making sure that high-value accounts can be engaged efficiently through provider.

Higher ROI

It is worthy to note that, ABM strategy results in higher returns on marketing investment since marketers are able to focus on the best account. That is why the attention is paid to the definition of high potential accounts and it is possible to receive an increased outcome and the boosted revenue.

Enhanced Customer Experience

ABM makes customers in an organization feel special and serves them according, to their needs hence increasing satisfaction and loyalty levels. This way, organizations can precisely target and present content and messages, which answer the receivers’ requirements and concerns, thus strengthening the account’s engagements and future performances.

Better Alignment Between Marketing and Sales

ABM leads to better sales and marketing coordination since both the approaches are aligned and in harmony with one another. This results to enhanced marketing communication and enhanced marketing results and communications activities.

Conclusion

Account based marketing enables B2B organisations to target high value accounts and create highly customised campaigns that can lead to immense revenue increases. Marketing and sales must work hand in hand to be able to increase customer interactions, and thus enhancing the sales processes to score higher returns on marketing investment.

Contact Lean IT today to learn how our account-based marketing services can help you achieve your business goals. Our experts are ready to guide you through the process and ensure that your ABM strategy is effective and impactful. Start your ABM journey with Lean IT and unlock the full potential of your marketing efforts.