It’s 2020. 66% marketers are now using the Account-Based Marketing (ABM) strategy, 68% are using video marketing and 60% are using an on-demand content strategy – at least according to the 2019 State of IT Marketing report by Spiceworks.
This doesn’t come as a surprise as ABM is the future of B2B. ABM is all about aligning organizational groups together to build customer relationships and growth while maximizing customer lifetime value (clv). In a comment made by Anudit Vikram, SVP of Audience Solutions for Dun & Bradstreet, he said that as more B2B organizations start turning to ABM they will be better able to address the complex customer journey and processes.
As an increasing number of organizations hop onto the ABM bandwagon, ABM has become a necessity in the B2B marketing space. With the space in constant evolutions, it becomes mission-critical to understand the importance of ABM.
1. Personalizing your communications
When implementing an ABM strategy, you will be able to experience a new level of personalized marketing which helps you develop finely-tuned content that is not only wanted but also needed by key decision makers in order to move them through the buyer’s journey.
2. Efficiently using marketing resources
ABM helps you in structuring and targeting your marketing efforts and resources on key accounts that drive the maximum revenue. ABM also optimizes your most valuable resources; staff time and money.
3. Defining ROI
As per a survey conducted by the Information Technology Services Marketing Association, 84% of businesses claim that ABM delivers higher ROI than other types of marketing. Through ABM, both ROI and the areas that need improvement can be reviewed based on how the contacts respond to your content.
4. Enhancing tracking capabilities
ROI is critical when reviewing your bottom line but it is also critical to report the strategies that contribute or fail to contribute to that ROI. Once the effectiveness of each individual component of your ABM strategy is known, much more effective campaigns can be built in future learning from it.
5. Closer sales and marketing alignment
In order to implement a true ABM strategy, it is vital that sales and marketing teams should not function in individual silos. They need to work closely so as to identify target accounts, develop an effective communication strategy with great outreach tactics and even to monitor the continuous progress of the campaign. ABM unites the two teams and keeps them working together.
If you are considering ABM, then you must have accumulated a lot of internal data about your customer base. 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 will end up losing a vantage point 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 attract, acquire, qualify and nurture leads into high converting opportunities.
Partnering with us for your third-party data and business intelligence tools will result in developing greater quality leads that have greater precision. This will also help you in capturing a larger market share from your competitors.