Out of all marketing channels, demand for account-based marketing (ABM) has increased significantly in recent years. Referring to the statistics, 66% of marketers have implemented Account-Based marketing i.e. ABM strategy in the year 2021 as per a report published by Spiceworks.
Marketers are using account-based marketing to align organizational groups together and build customer relationships. Further, the strategy also contributed to maximizing customer lifetime value (CLV).
In a comment made by Audit Vikram, SVP of Audience Solutions for Dun & Bradstreet, he said that as more B2B organizations start turning to ABM, they will be able to better address the complex customer journeys and processes.
Considering its overall importance, an account-based marketing plan requires a lot of attention. Before starting with the account-based marketing plan, we need to understand that account-based marketing is a strategy and not a formula. The strategy will only provide a result if it is optimized in compliance with the requirement of the company and client simultaneously.
Here are some of the Ways to Optimize Account-Based Marketing Plan-
ABM has become a necessity in the B2B marketing space and an increasing number of organizations are anticipated to embrace an all-encompassing ABM strategy in 2021.
With the ABM strategy constantly evolving, it becomes mission-critical to understand the importance of ABM – to optimize it and win over more high-value accounts in 2021.
The following are some ways to optimize your ABM strategy in 2021:
1. Personalizing your communications
When implementing an ABM strategy, you must create personalized marketing experiences by developing finely-tuned content that entices, informs and convinces the key decision-makers to take steps towards the sales cycles. This, in turn, will fuel the conversion rate.
2. Efficiently using marketing resources
ABM helps you in structuring and targeting your marketing efforts and resources to the key accounts that drive the maximum revenue. Besides, ABM also enables marketers to use valuable resources- time, staff, and money efficiently.
3. Defining ROI
As per a survey conducted by the Information Technology Services Marketing Association, 84% of businesses claim that ABM delivers higher ROI when compared to other types of marketing channels.
While drafting an Account-based marketing plan, you can focus on the areas that are of utmost importance. Further, it can be reviewed and improved based on the response of the clients.
4. Enhancing tracking capabilities
ROI is critical when reviewing your bottom line; however, equally critical is to report the strategies that contribute or fail to contribute to that ROI.
Once the effectiveness of each component of your ABM strategy is analyzed, much more effective campaigns can be built in the future by learning from it.
5. Closer sales and marketing alignment
To implement a true account-based marketing plan, sales and marketing teams mustn’t function in individual silos.
They need to work closely to identify target accounts, develop an effective communication strategy with great outreach tactics, and even to monitor the progress of the campaigns consistently. In short, to optimize the account-based marketing strategy, the sales and marketing team should be aligned.
If you are considering ABM, then you should begin with the accumulation of a lot of internal data about your customer base. Once you have all the data, you can capitalize it for clear targeting the high-value accounts.
The next step is to find the best business intelligence partner for the 1st-party customer data you have. Using this third-party data, you can build a fuller pipeline and have deeper account relationships that result in a greater ROI.
20% of your total marketing budget should be allocated to sophisticated data and business intelligence tools. In the absence of third-party data, you might end up losing advantage points and all your sales efforts just turn into gambling.
With the help of Valasys’ ABM services, you can rest assured that you will end up with lesser waste and lesser risk. We specialize in lead generation, inbound marketing, and ABM and build programs that help in nurturing leads. This, further, aids in boosting the conversion rate.
Partnering with us will give you the advantage of third-party data and business intelligence tools to develop better quality leads that optimize your bottom line conversions with higher precisions. You would also be able to capture a greater market share as you gain a competitive edge.