Highly personalised marketing communications
Account Based Marketing (ABM) is a powerful technique to deliver targeted and personalised marketing communications to customers in key accounts, but effective ABM strategies rely on sales and marketing teams having in depth understanding their customers throughout the lifecycle, and engaging with them on a regular basis.
In the past, ABM campaigns were only feasible for targeting a few key accounts. They were successful because the customer experience was personalised, but they were not scalable because of the time and resources needed to research and engage customers.
Many marketers have adapted by building a content function within the team, but all too often the collateral they produce is generic. They still have to ‘guess’ where customers are in the buying cycle, and an email click is often the only trigger they have to move them onto the next stage – not ideal!
Digital technology has removed much of the labour intensiveness involved in ABM.
Instead of delivering a one size fits all content marketing campaign to every user on the mailing list, marketers can now use ABM to send personalised marketing communications to the 20% of customers who create 80% of revenue.
Targeted, measurable and impactful ABM campaigns have become the latest B2B marketing craze.
Why is account based marketing at scale still a scary prospect?
ABM is a much more sustainable approach to nurturing customers than content marketing. It increases customer satisfaction, and provides marketers with a comprehensive understanding of what is important to the customer in real-time.
There are lots of benefits to marketing 1:1 at scale whether you are just starting out, or simply looking for ways to improve on what you’re already doing.
But as with any shift in behaviour there will be detractors, those concerned that the barriers to entry are too great, or that the ROI will not match up to expectations. When it comes to ABM, typical concerns include:
- That it will take a lot more time than typical, ‘tried and tested’ generic content marketing campaigns
- That you will need more resources in your marketing team
- That more marketing assets will need to be created, impacting on budget
But there’s no need to worry if you have the right technology.
Marketers using ABM tactics have a wide range of tools at their disposal – everything from IP identification to predictive analytics – to drive campaigns targeting hundreds and thousands of accounts, without the need to increase the size of the marketing team or create large quantities of marketing collateral.
The highly personalised marketing communications they produce stand out from the crowd at a time when more and more businesses are questioning the ROI they get from marketing.
What steps do you need to take to execute ABM strategies at scale?
For ABM campaigns to reach their full potential at scale, you have to have a solid strategy behind them. Peter Isaacson’s blog “How to execute account-based marketing at scale” explores the key steps in scaling up the process.
Here are four steps you can take to increase the effectiveness of your ABM strategies:
1. Get your Sales and Marketing Teams (and others) on the same page
It’s impossible to scale up ABM without getting your Sales and Marketing teams to work together. They must compare goals, share account information, and commit to regular catch-ups to ensure they collectively act on new business opportunities as they occur.
2. Make sure you establish your business priorities
What will drive business growth in the coming year? Keep focused on your priorities. In the banking world, the sales and marketing strategy is all about customer retention, even for newly acquired customers. Outside of the financial services sector, sales and marketing efforts are focused on finding new customers rather than keeping existing ones. This can be an expensive strategy as it is much harder to get a deal with a new customer than it is to upsell or cross-sell to existing customers who are already familiar with the company, the people and the brand they are buying from.
3. Prepare your marketing assets for growth
Creating personalised marketing communications doesn’t mean that you have to create unique assets for each customer. It’s perfectly fine to think creatively and build reusable templates based on your existing marketing materials that have optional customisations for implementation across different sectors or customers.
4. Increase your marketing performance by scaling your ABM strategies
The full potential of ABM can only realised when it is implemented at scale. Find out what works well by running small test campaigns. Hone your marketing assets, and then use what you’ve learned to scale out to hundreds or even thousands of target accounts at a time.
How Artesian aids ABM success
Marketers like Sales, need to understand their target market better – the ABM craze is all about relevancy and timing.
Artesian helps marketers understand their target market, but unlike social media listening tools, it cuts through the white noise and reduces research time by filtering and consolidating important news.
The ecosystem of customers, prospects, partners and competitors are brought together into a single news feed that can be accessed on the go, triggering ideas for innovative new pieces of content and communications.
Marketing can partner with sales and business development, furnishing them with rich company data and highly personalised, relevant, contextual and timely account based marketing programs.
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