What is Account Based Marketing?
Account Based Marketing (ABM) is a strategic approach to marketing and sales in which individual accounts are focused on. It's about understanding your target customers' needs, wants, and motivations in order to customize content and optimize conversions. It’s about providing a tailored experience for each account with personalized campaigns that align with their needs—all in order to boost sales and increase brand awareness.
Account Based Marketing turns the B2B sales and marketing funnel on its head.
Instead of starting with marketing channels to generate leads, an Account Based Marketing (ABM) strategy begins with identifying and targeting the best-fit accounts with the most significant revenue potential for your business. Only then will marketing work with sales to create highly relevant personalised content and communication to engage with the prospect.
Traditional marketing produces a single point of contact lead. Account Based Marketing produces multiple points of contact in the best-fit companies most likely to benefit from your services.
You may be familiar with the Miller Heinemann strategic selling, the Blue Sheet and the four different buyers. The economic buyer, the user buyer, the technical buyer and the coach. But KnowledgeTree reported that the average B2B buying committee comprises seven to 20 individuals. Each buyer and influencer is involved in the decision-making process, and each has to have their needs satisfied. So they need messages crafted for them, the correct collateral, and all need to be contacted. ABM is a multi-channel approach, including targeted ads, bespoke content, LinkedIn activities, personalised one-to-one emails, events etc., but each time, it's based on what's the best route to engage with the target prospect.
Sales cycles are growing longer, and more decision-makers become involved. Therefore, traditional single-lead marketing results in lost sales, and ABM enables a higher close rate in shorter times.
It's not a new approach, but so few organisations use it. The ones that do are the ones that you lose business to.
Our Account Based Marketing FAQs should answer any questions you may have and please speak to our team who will be happy to answer your queries.
Benefits of Account Based Marketing
- Aligning the sales and marketing activities - marketing tied to tangible results and more significant ROI
- More Efficient Use of Marketing Budget
- Shorter Sales Cycle
- Removes the customer's internal blocks when selling, helping speed up the sales cycle.
- Salespeople spend time selling, not prospecting - who cares if you've made 100 cold calls today if you haven't sold anything?
- More intelligent use of PPC with targeted ads
- Better Customer Experience
Account Based Marketing is about the customer. They are not waiting for your sales call. They want to read meaningful and relevant information and have valuable conversations on their terms.
Account Based Marketing is omnichannel. Which channels you choose depends on the target customer and the target individual. Think of it as running a marketing campaign just to get to speak to one person, what would you do? We then use process and tools to enable this highly personalised approach to scale.
So you may support direct outreach, such as email, with awareness ad campaigns on social media targeting that individual. Or tailor content for that persona. Or even identify which events the target customer attends and exhibit, or simply arrange a meet up there over a coffee.
There are lots of moving parts, and we can do all the heavy lifting.
Account Based Marketing isn’t the right solution for every product or service. We tend to recommend it when the mrr on a deal is above £4k.
An Account Based Marketing campaign ranges from £3k to £25K a month and typically run for six months.
Example of Account Based Marketing
Doogheno was engaged by a cloud provider's new business sales team to create a marketing campaign for virtual cloud data centre stack.
Doogheno created and actioned highly targeted Account Based Marketing to ensure the campaign was fully aligned with the cloud provider’s sales objectives.
£53,000 MRR pipeline
7 x ROI on closed business
Speak to our team today about Account Based Marketing or read more case studies here.
What We Did
Define Ideal Customer Profile (ICP)
Defined a list of target customers based on ICP.
2,000 word piece of hero content, supported by four LinkedIn articles.
Personalised messaging for email sequence and LinkedIn outreach based on detailed personas
Email sequences from HubSpot
LinkedIn posting and articles
LinkedIn connections (manual)
Defined interaction scores