4 Mega Benefits of Account-Based Marketing (and How to Do It)

In this video, Nicole from the WebFX Strategy team dives into the basics and benefits of account-based marketing.

Transcript: 

Personalized digital marketing has become even more personal. Account-based marketing (ABM) gives you the opportunity to reach your ideal customers with marketing content tailored to their needs.

4 benefits of account-based marketing

1. ABM provides better audience experiences

The extra-specific personalization that comes with ABM marketing helps streamline the buying process and move consumers to action.

People actually want their buying experiences to be personal. In fact, 80% of people said personalization makes them more likely to partner with a business.

Nearly 70% of those surveyed by Salesforce have even gone so far to share that they expect businesses to know what they need.

When you target someone using ABM, you give them the personalized experience they’re expecting from you, making it more likely they’ll engage with and purchase from your business.

2. ABM increases your ROI

A study of 50 businesses showed that after implementing account-based marketing, they saw an over 170% average yearly increase in contract values.

The sample size of that study may be small, but it’s not the only research that shows the impact ABM has on businesses.

Salesforce reports that over 75% of businesses that use ABM marketing see an ROI of 10% or more. That same Salesforce case study concludes that ABM provides at least double the ROI of other marketing channels for 45% of users.  Double!

If you’re looking to drive more revenue for your business, ABM is a great way to go.

3. ABM aligns your marketing efforts with your sales goals

Data from LinkedIn shows that more than 80% of B2B businesses using ABM saw better alignment between marketing and sales. This alignment has a major benefit: it improves customer retention and sales wins.

According to MarketingProfs, businesses that closely link their sales and marketing efforts see customer retention rates that are over 35% higher and sales win rates that are nearly 40% higher.

Again, a big part of account-based marketing is reaching specific accounts that fit your ideal customer profile. Your sales team should know who fits that profile based on their experiences and any information they’ve collected through their customer interactions.

ABM requires sales insights to figure out who would be a good candidate for this form of marketing and what the typical candidate would like to see from a business, thus informing your marketing content. This connection makes it imperative that marketing and sales work together to figure out the right messaging.

4. ABM maximizes your budget

Because you engage the most qualified leads through an ABM strategy, you cut down on wasted spend.

Instead of paying to reach people who maybe someday might consider possibly converting, you’re paying to reach people who you’ve deemed very likely to become a high-value customer.

High-value customers typically spend more than the average person and continue investing in your products or services over time. If everything goes according to plan, you’ll spend a little to earn a lot.

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We hope your journey to account-based marketing is a success!