Account-Based Marketing Definition: A highly focused approach to B2B marketing, in which marketing and sales teams work together to target best-fit accounts and turn them into customers.
There has long been a disconnect between sales and marketing. Marketers produce marketing-qualified leads, and salespeople cannot close them as they aren't sales-qualified leads. If a lead can't be closed in a reasonable time frame, it is not a lead! According to Forrester Research, 99% of leads never become customers.
Too many businesses have their marketing teams producing poor leads through inbound marketing and salespeople hitting LinkedIn to open conversations.
There is a better way.
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.
- 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 multichannel. 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 £15K a month and typically run for six months.
Doogheno was engaged by SCC’s London new business sales team to create a marketing campaign for HPE Greenlake.
Doogheno created and actioned highly target Account Based Marketing to ensure the campaign was fully aligned with SCC’s sales objectives.
£53,000 MRR pipeline
7 x ROI on closed business
Speak to our team today about Account Based Marketing
What We Did
Defined a list of target customers based on industry, location and turnover.
Identified the key decision makers within those organisations.
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 (semi automated)
Defined interaction scores