Account based marketing (ABM) offers an extremely strong pool of potential lead generation opportunities to capitalize upon. The strength that ABM strategy provides lies in its precision, indicated by the name: account. The “account” pertains to a focus on the specific account being contained within a specific marketing campaign. Market statistics collected by HubSpot in 2020 showed that brands leverage account-based marketing widely enough on average to constitute 67% percent of the grand total overall. In further research, a survey conducted by TOPO revealed that over half of all surveyed professionals (57%) reported having their companies use account based marketing to target 1000 accounts or less. If you’d like to learn strong ways to use ABM for best potential benefits to your own business and its lead generation prospects, the following are wise things to keep in mind.
Collaborative Framework Focus
In marketing campaigns with logistics that seem to mandate an acceptance of uncertain flexibility when it comes to important sales and marketing collaboration triggers, account-based marketing can be a life-saving bridge across this information gap into well-refined moves. An ABM plan characteristically necessitates making a point to develop critical sales/marketing interaction key points between teams.
The alignment between sales and marketing in ABM is a well-documented attribute of increased organizational revenue, with Forrester Research reporting a 32 percent annual boost on average for aligned sales/marketing teams compared to otherwise.
Feedback Testing for Predictive Power
Through effective ABM implementation, teams can effectively compensate for the time in which they lack a perfectly pinpointed timing plan for the intersections between phases. Every campaign development process will naturally have a period of relative ambiguity and estimation before whittling down to the exact figures, but in some cases, there is only so much we can hope for in terms of absolute specifics.
In addition to its team interaction emphasis, the AMB campaign developed process is one that takes great advantage of frequent testing to counterbalance the initially unclear aspects of the bigger picture. By taking the feedback of small trial runs with a fast turnaround time into account, the AMB model can produce sharper predictions to be scaled up for even higher ROI and engagement on all levels.
This increasing accuracy aspect on a gradual basis is the one that allows not only the individual campaign to succeed, but also the overall proficiency of the model throughout separate campaigns through the carryover of this trained predictive power.
Key Client Profile Optimization
As can be correctly inferred from the name, account-based marketing is one that makes more of a push to well-defined targets than shotgun blast tactics. Naturally, as the definition increases in the client becomes more immediately distinguishable, the overall turnaround time to expect from each successful closing ABM will increase to scale accordingly; however, it is not only a matter of accuracy in which the specialized target aspect of ABM come comes to play.
Though these highly well-defined target account metrics might take longer to convert, the overall earnings from this hyper-targeted approach are also notably higher on average as well. ABM will serve you best. If it is made in tandem with a plan to enact the highest ticket offers and services that you can provide after a successful conversion.
Even after already seeing annual based marketing budgets increase by 41% on average in one year, we can still observe its growth today. This methodology will be extremely powerful in an increasingly contextual way as wider swathes of businesses adopt advanced niche market-targeting strategies. When it comes to competing in a market landscape that offers more through rewards through precision than “wide net casting” in the current era, ABM is the key. To learn about more ways that you can put account-based marketing to use for great lead generation benefits, contact us here or learn more about Lead to Account Matching Software and we will be happy to be of assistance.