Have you noticed that your current marketing strategies seem to be losing steam?
Are you looking for more ways to learn how to cross-sell and upsell to your current clients?
Concerned that you’re not making as personal of a connection as you could be with your target audience?
If so, then account-based marketing will likely be able to help you do all that and more.
In this post, we’ll fill you in on why account-based marketing tactics should be used as a part of any strong marketing strategy.
We’ll help you to define account marketing, understand the benefits that it offers, and connect you with the professionals who can help you to take advantage of it.
What Is Account Based Marketing?
Before we begin to talk about the advantages of using account-based marketing tactics, let’s come to a clear understanding of what it is.
In a nutshell, it’s the idea of advertising to your current customers by showing them products and services that relate to their specific needs. ABM is influenced by things like their past orders, their overall buying intent, and how they most like to be engaged.
Think of it almost as a kind of personalized marketing strategy for each individual account.
It’s somewhat similar to the idea of market segmentation, as well. That is the process of breaking down and classifying your customers into smaller subgroups based on their needs and demographics.
It also works to directly target the decision-makers and buyers behind each account.
Essentially, the goal of account-based marketing isn’t just to collect as many random leads as you can.
Instead, it’s to show the right kinds of content to the most specific audience possible — that you already know has a need for what you’re showing them.
Often, you’ll need to create customer avatars and personas to help you to connect the right buyer profiles with the best products for them. So, you can expect to do a lot of research, as well as to do with some serious trial and error at the start.
However, the payoff is huge and well worth the effort.
In fact, nearly 85% of marketing professionals state that ABM is more effective than their other marketing tactics.
Why Account-Based Marketing Works
Now that you have a better understanding of what account marketing is, let’s talk more about why using these tactics is such an important part of your overall marketing strategy.
Read on to learn why there’s no time like the present to start using account-based marketing tactics.
Leverage the Power of Personalization
Did you know that personalizing an email can increase your open rates by up to 20%?
After all, how likely are you to take the time to open, let alone read through fully, a generic message that you know was sent to hundreds of other people?
When you take the time to get personal, as well as to address in the body of an ad’s text the specific needs and concerns of a client? You greatly increase your chances of doing business with them.
Your customers will feel much more like a priority, and you can prove to them that you’ve taken the time to get to know their pain points — and the possible solutions you can offer.
Shorten Your Overall Sales Cycle
You’re already well aware that the overall length of your sales cycle has a huge impact on not only your sales and revenue but also on your marketing strategy as a whole.
Account-based marketing tactics help to shorten the sales cycle.
First and foremost, they work because you’re talking to the primary decision maker of a lead or current client. This means your message isn’t just less likely to get lost in translation. It also means that the “yes or no” can happen much more quickly.
You’ll also be able to reach those primary decision makers on the channels that, based on past research, you know they prefer to use.
In addition to helping you to keep your sales cycle as short as possible?
The chances are good that the impact of account-based marketing can help you to increase your overall order size, as well.
Your Strategies Are Informed by Hard Data
Yes, it’s certainly important to get to know your individual clients on a personal, more abstract level.
After all, this kind of knowledge is what often helps you to develop and deliver effective and creative and brand-focused ad campaigns and content for your blog.
But if you really want to increase your sales revenue and outpace your competitors?
You also need tactics that are driven by data and analytics.
With account-based marketing, that’s exactly what you’ll get.
Plus, not only will your numbers improve.
This will also help to strengthen the relationship between your sales team and your marketing professionals. This means you’ll be more likely to upsell, and that each team will help to hold the other accountable.
Start Using Account Based Marketing Tactics Today
In addition to helping you to answer the question, “What is account based marketing?”
We also hope that this post has helped you to see why taking advantage of the many account-based marketing tactics is the right idea for businesses of any size and within multiple industries.
When you’re ready to start putting these ideas into practice, we invite you to reach out to us to get started.
We can’t wait to help you leverage your current clients, connect with higher quality leads, and grow your revenue in the process.