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Account Based Marketing
Account Based Marketing Strategies are Absolutely Changing the B2B Marketing Game
Which would you choose: a conversion rate of 1 per cent or 50 per cent?
What if I told you that you are getting the same conversion rate, either way?
1% of 100 is equivalent to 50% of 2.
This is where Account Based Marketing (ABM ) enters the picture. Eliminating the clutter. Focusing and fostering what matters most to your business – the relevant audience.
Account-Based Marketing, or ABM, is a cutting-edge customer acquisition model in which a business conducts marketing activities to identify the right customer segments to target
99% of the approached leads can be converted using the B2B ABM strategy due to the extensive sorting and targeting of the approached leads.
Account Based Marketing Strategies are Absolutely Changing the B2B Marketing Game
Funnel Marketing is a form of marketing that focuses on giving the customer a set of actionable steps to do. It involves promoting a specific set of products or services after which each customer is shown another step in the buying process as they finish their transaction.
To Win in the B2B domain space, you should flip the conventional funnel marketing!
Accurate Problem Statement Analysis
Problem statement analysis is a technique that can be used to identify the root causes of business problems. It is a way to think about the problem and find out what must be done to solve it.
While you are aware of your prospect’s precise pain point, it is simpler for you to sell your prospect the customised solution.
Personalised Outbound Marketing Strategies
Personalised outbound marketing involves targeting a specific demographic with the correct message at the right time. This is done by compiling data on a customer’s preferences and using that knowledge to develop targeted campaigns.
A personalised outbound pitch is never just a cold pitch.
Customised Solutions – Giving Businesses What Exactly They Are Looking For
Customised solutions are the need of the hour. Customers need to be pleased and served in a way that works best for them.
We are living in a period where every business aims to provide their customers with customised solutions. It is not enough to simply satisfy their needs but also to understand what they want from you and provide it.
This can be done through the numerous avenues for feedback, surveys and even the use of programmed chatbots for customer care.
A Strong Lead Magnet
A lead magnet is a free give-away or offers that you use to attract people to your website, social media account, and other places. They can range from something as wonderful as a free ebook to a coupon that saves you a certain percentage on your subsequent purchase.
You need to make a good first impression on your customer with a strong lead magnet. . If you don’t, you risk losing them before you have an opportunity to convert them.
It should be more than just a piece of advertising, something valuable to them.
We’ve been in your shoes!
And here are 5 Mistakes that Business Owners make with B2B ABM that ruin everything. If you want to increase the effectiveness of your B2B marketing, stop for a moment and make sure you are headed in the right direction.
#1: Not understanding your target audience enough
To better understand your target audience, communicate with them on a personal level. Sending an automated email that does not compel your audience to respond is the first step to losing business.
One of the most critical aspects of marketing is understanding your target audience. A company can have the best product in the world, but if they are presenting it to an uninterested audience they will not succeed.
Cold Pitching to hundreds and thousands of strangers who have no interest in the solution you are providing will not advance your business past the awareness stage.
#2: Not having a clear strategy for generating leads
The traditional way of generating leads starts with attracting leads. However, when your target audience is another business, you need to understand that “attracting” them is not the simple or even proper course of action.
To lure another business, you must initially begin with account identification. When it comes to business-to-business services and products, the lead generation process with the precise understanding of which accounts to target. Here’s is where you must effectively use:-
- LinkedIn social selling: sell your products/services through companies’ online networks.
- LinkedIn sales navigator: a sales tool that helps companies find their perfect match and close the deal.
- LinkedIn social selling index: a tool that leverages your company’s brand and profiles to help potential clients find you.
#3: Not having a clear sales process in place
While approaching another business, the sales process of b2b marketing agency must be in accordance with the business you are approaching. There is no standard sales strategy when it comes to business-to-business selling.
You need to be focused on developing relationships with the business even before you approach them for a lead magnet. Account based selling approach involves having a conversation with business executives who understand their business very well, and their business problem statements.
This is how B2B IT marketing works. You must first comprehend the problem statement and then provide a customised solution – which could serve as your lead magnet.
#4: Focusing on quantity rather than quality leads
Any B2B marketing agency, while generating B2B leads, only need to collect high-quality leads. Certainly, warm leads.
In B2B marketing, there isn’t much room for cold leads. You either sell your potential customer the solution they need or you are out of the running. Even if you are making them aware of your service or product, you still need to understand their business and build a relationship with them.
#5: Not making sure that you are tracking your marketing efforts
Using tools like the social selling index to measure your marketing efforts will give you a comprehensive understanding of your marketing efforts.
You can also use these insights to re-target your audience and improve your strategy moving forward.
Tracking your marketing efforts will lead to leveraged conversions when you re-target and target your next prospective business.
Account Based Marketing Strategies are Absolutely Changing the B2B Marketing Game
ABM is the Next Evolution of Outbound Marketing
As we now know, Account-based marketing is a marketing strategy that focuses on the specific needs of a target audience or account. It is an extension of account-based marketing that combines traditional ABM with social media and digital marketing channels.
This type of marketing allows marketers to create personalized messages for specific accounts, which can lead to better engagement and sales. Finding the relevant accounts that suit your business could be done using the Linkedin sales navigator.
A successful account-based marketing campaign will typically consist of four key elements:
1) Targeting the right audience with the right message
2) Engaging with prospects in meaningful ways
3) Creating personal connections within accounts
4) Building relationships to drive business growth.
Measurable Impact is a b2b agency that helps businesses measure their impact. With our account based marketing strategies and deep expertise in marketing attribution models, Measurable Impact helps you measure your return on investment and optimize your marketing spend.
Account Based Marketing generates warm leads
Account-Based Marketing is a strategy focusing on targeting potential customers based on their organizational needs. The purpose is to give the customer a unique and personalized experience.
Account-based marketing has the following advantages:
– It generates warm leads, which are more likely than cold leads to convert into customers.
– It lessens the chance of failing to meet the customer’s needs and becoming irrelevant to them.
– It provides an opportunity to develop lasting relationships with the customer, rather than relying solely on one transaction.
Account Based Marketing builds customer relationships which results in a higher retention rate
The main goal of this strategy is to build long-term relationships with customers. The account-based marketing approach is a means to increase customer retention and profitability.
The idea behind ABM is to create a deep relationship with customers by providing them with customised content and services. So they can be convinced to buy from you rather than one of your rivals.
Account Based Marketing helps with 10x more efficiency in customer acquisition
Account-based marketing (ABM) is a customer acquisition strategy that focuses on specific accounts to increase revenue. With the help of ABM, the company can get 10x more customers with a fraction of the effort.
LinkedIn social selling and LinkedIn social selling index features help you to find and connect with the right customers. With such information, outbound marketing is all about a customised approach with a customised solution.
Account Based Marketing helps in managing reputation and raising brand awareness.
The term “account-based marketing” is a customer-centric approach that focuses on building relationships with accounts or companies, rather than on individual customers.
ABM rightly focuses on the individual customer. ABM is used by a B2B agency executing IT Marketing to generate leads, reduce churn rates, boost conversion rates, and increase revenue by achieving a greater lifetime value per customer.
Account-based marketing helps with drastic revenue hike
Using account-based marketing, a company can focus on its top customers and learn what they want. This will help them to grow their business and increase revenue.
The success of account-based marketing is not just limited to revenue increases. It also helps companies to expand their customer base, increase their ROI, and improve their overall business strategy.
With Measurable Impact’s Account based marketing, you can increase your B2B sales by 50% with 50% less effort.
Our extensive knowledge of marketing attribution models helps you identify new opportunities for growth.
Reaching the right audience is easier with the right marketing partner.
Here’s our lead magnet – Your Lead Magnet Strategy is on us!
Fair?
Let’s connect and discuss more business opportunities for you.
