Account-Based Marketing Strategy [How-to Guide to ABM]
With an account-based marketing (ABM) strategy, you can target these high-value companies.
On this page, we’ll provide you with information like:
- What is an account-based marketing strategy?
- How do I create an ABM marketing strategy?
- What are the benefits of using account-based marketing tactics?
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What is an account-based marketing strategy?
An account-based marketing strategy markets your business to specific companies, rather than creating generalized marketing campaigns to attract new customers. With ABM marketing, you take a one-on-one approach with your clients and identify high-value accounts that you want to target.
An ABM marketing strategy is extreme personalization. You create campaigns for specific companies using their pain points and information about their key stakeholders to develop a campaign that’s unique to them.
How to create an effective account-based marketing strategy
Account-based marketing is an excellent way for you to target more high-value clients.
Here are four steps for creating an effective ABM marketing strategy:
1. Define the accounts you want to target
The first step you want to take with your ABM marketing strategy is to define the accounts you want to target. You must identify specific companies that you think will be most interested in your products or services.
Remember — you’re not targeting individual people, but an entire organization.
So, you and your team must sit down to identify these high-value targets. If you aren’t sure who to target, you can start by looking at your current client base.
Look at vital information like:
- Company size
- Profit margin
- And more
Identifying this information helps you set a basis for the types of companies you want to target. It can help you find accounts that share similar characteristics and create a list of potential clients for your account-based marketing strategy.
2. Learn about the decision-makers
Once you determine the accounts you want to target, you need to learn everything you can about the decision-makers. While you’re focused on specific accounts, you must remember that you’re targeting people who work for that company.
You’ll want to learn information like:
- Who the decision-makers are
- How they make decisions
- Their position in the company
- Their pain points
- And more
Establishing this information helps you understand these companies better.
If you know who the decision-makers are, and the process they use to make decisions, you can use account-based marketing strategies that provide them with valuable information and get them interested in your company.
3. Personalize the experience
A key component of your ABM marketing strategy is personalizing the experience. When you’re targeting specific accounts, you can create marketing campaigns that appeal to people from these companies.
That’s why you must understand the decision-makers and their pain points — you need to know what’s important to them and how you can appeal to them. When you know this information, you can market how your business solves those issues.
You can personalize the experience by sending content or creating ads that show why your product or services is the best solution.
Let’s say you’re an auto parts manufacturing company. You decide you want to target a business called Jake’s Auto World. Jake’s Auto World has four key decision-makers that will determine if your business is the best fit.
After analyzing the decision-makers, you’ve learned that:
- They’re concerned about keeping auto part prices low for consumers, so they want a supplier that has affordable prices
- They want to use an auto part manufacturing company that offers parts for domestic and foreign cars
- Their last supplier provided them with cheap products that broke quickly and left customers dissatisfied, so they focus heavily on product quality now
Equipped with this information, you create personalized advertising campaigns for Jake’s Auto World. You can use numerous account-based marketing strategies to target this account.
You may start by creating a targeted LinkedIn ad that highlights your affordable bulk options, as well as your domestic and foreign car parts. Additionally, you may create a video advertisement that highlights the quality of your products and shows them in use.
When you understand your prospects’ pain points and interests, you can create ads that better serve their needs and show them why you’re the best option for their needs.
4. Find the right channels
The last step to creating an account-based marketing strategy is choosing your tactics. You want to reach these prospects where they’re likely to engage and see your campaigns.
The account-based marketing tactics you use will depend upon the companies you target. Since you’re targeting the decision-makers from these companies, you want to figure out where they’re likely to spend their time and see your message.
So, what are some strategies for account-based marketing? You can use tactics like:
You can use any number of channels to help you reach the decision-makers with your valuable information.
For example, LinkedIn is a great platform to target decision-makers precisely.
You can define your target audience and choose settings that allow you to target companies and people in specific positions at a company. So, if you wanted to target the Parts Manager or Chief Financial Officer (CFO) at Jake’s Auto World, you could set up your ad to target that person.
If you want to reach people interested in your products or services, determine the channels that will help you reach them.
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Why you’ll want to create an account-based marketing strategy
An ABM marketing strategy can help your B2B business get more valuable leads.
Here are three reasons you’ll want to start creating your account-based marketing strategy now:
1. You’ll have a stronger alignment between sales and marketing
One of the most significant benefits of using account-based marketing strategies is that it creates a stronger alignment with your sales and marketing team.
When you have a regular B2B marketing strategy, it can be challenging to coordinate between your marketing and sales teams.
Your marketing team focuses on appealing to anyone who falls in your target market, whereas your sales team focuses on people that contact them and are likely to buy.
Since marketers have such broad parameters, it can be challenging for them to be on the same page as your sales team, who works with a more precise audience.
With an ABM marketing strategy, there are no questions about who you’re targeting. Both your marketing and sales team work to communicate the same message to the same company. It simplifies the process and makes a more cohesive campaign.
Having a cohesive campaign leads to more sales for your business. In fact, 97% of marketers say that an ABM strategy delivers a higher return on investment (ROI) than other marketing strategies.
2. You’ll have more focused campaigns
When you use strategies for account-based marketing, your campaigns become more focused. Since you’re targeting specific accounts, you don’t need to appeal to as many people and get them interested in your business.
So, let’s say that you own a company that supplies concessions for movie theaters. With a typical B2B campaign, you would try to market to any movie theater that fits your target audience and market all your products to them. These could be chain movie theaters or local movie theaters.
With an ABM marketing strategy, you would focus specifically on chain movie theaters. You would focus on creating a strategy that appeals to their needs. So, if, for example, they were mostly focused on bulk popcorn supplies, you would create campaigns appealing to that need.
As you can see, when you focus on more specific accounts, your campaigns get more focused and specific. Instead of creating a generalized campaign, you create campaigns that focus on your clients’ specific needs.
These campaigns enable you to appeal to these accounts more effectively and close them.
3. You’ll provide a better experience for your audience
Since your account-based marketing strategy is tailored to individual accounts, you provide a better experience for these leads. Your prospects get information tailored to them, making them more interested in what you offer.
Personalization plays a critical role in providing a better experience for your audience.
Here are just some stats that show the effectiveness of personalization:
- 78% of U.S. Internet users said personalized marketing content increases their purchase intent
- 40% of people are more willing to buy from suppliers that tailor content to their needs
- 26% is how much more likely emails are to be opened when the subject line is personalized
As you can see, personalization makes people more willing to engage with your company. It keeps their interest in your product or services and provides them with a better experience.
Develop your ABM marketing strategy today
Creating an account-based marketing strategy will help you appeal to specific accounts and get them to become clients for your business.
If you aren’t sure where to start with your ABM marketing strategy, WebFX is here to help. We’re a full-service digital marketing company that can help you select the right strategies for account-based marketing.
We have a team of over 450+ experts that will bring their knowledge and expertise to your campaign. With over a decade of experience, you can count on us to develop an effective account-based marketing strategy.
Our team knows how to create campaigns that drive results too. In the past five years, we’ve driven over $2.4 billion in revenue and over 6.3 million leads for our clients. We can help you drive results for your company, too.