ABM is B2B
ABM, or account-based marketing, has the power to transform your business.
It will increase revenue and help your business become more focused and effective. It will revolutionise the way you approach accounts and close deals.
But first, a definition:
“Account-based marketing is a combined marketing, sales and operations strategy that does away with the ‘spray and pray’ approach of traditional marketing. Instead, it focuses on decision-makers and closes opportunities in named accounts quicker.”
5 ways ABM can transform your business
Accelerate win rates in known opportunities
Drive customer loyalty and advocacy
Have more strategic and consultative conversations
Unlock new opportunities and upsell/cross-sell potential
For the few, not the many
Traditional marketing campaigns want to tell every Tom, Dick and Harry about their products and services regardless of who they are or what they want. The goal? Precious MQLs.
It casts a wide net, hoping to catch something juicy. But ABM lasers-in on the handful of people and teams that will make the key decisions.
Instead of throwing a net, you’re spear-fishing. Traditional marketing scratches the surface of understanding your customers. ABM wants to drill down to the core.
Source: TOPO Account Based Benchmark report 2019
In B2B, no one
Few, if any, B2B buying decisions are taken by a single person. He or she is almost always part of a buying team. The bigger the deal, the more people are involved.
Insights make the
To sell into large accounts you need to understand how each individual decision-maker fits into the account. You need a strong sense of the relationships, influences and connections that bind them.
Each of these customer stakeholders have different motivations and pain points. Each has a different perspective.
“ A typical buying group for a complex B2B solution involves six to 10 decision-makers”*
Cats and dogs. Chalk and cheese. Marketing and sales.
They say opposites attract, but in the business world, things don’t always work out like they do in the movies. It’s no secret that many sales and marketing departments simply don’t get on. But what could they achieve if they worked together?
By bridging the gap between marketing, sales and operations, ABM programmes help your business close more deals and boost revenue.
The marketing department seeks out leads (MQLs). But it doesn’t matter who’s downloaded a whitepaper – someone somewhere has, so it becomes an MQL and is passed to sales. Sales then discover most of the MQLs are useless.
ABM is the antidote to the MQL madness.