Account Based Marketing is the latest hot topic. Check out this video to understand the steps you need to take to successfully use this strategy in your marketing efforts.
Transcript of the Video
Account-Based Marketing (ABM) is all the rage. But before you run out and buy technology, I’m going to let you in on a little secret. While there are some specialized tools that can help support your ABM efforts, the concept has been around for decades and you can be successful by simply adjusting your strategy.
Account-Based Marketing takes a very focused approach to who you target with your marketing campaigns. Instead of throwing your message out to the universe to see who responds, ABM defines a specific list of accounts.
There are are 3 steps to get started- Identify, Market and Measure.
First, determine your target accounts by identifying who can generate real revenue for your business. Make sure your product or service is a good fit and consider your ideal customer profile such as the industries, company size, and geographies you do well in.
You can take a look at your CRM database to identify patterns- both positive and negative by looking at accounts you’ve won and lost. And, be sure to speak with key stakeholders to get their take on where you typically do (or don’t) do well.
Once you know your target audience, it’s time to engage with them in a very direct, personalized way. Build behavior-based campaigns for each account to address their needs through a multi-touch approach that includes direct mail, targeted advertising, email, and social.
Just be sure you have a system in place to capture the engagement, prioritize account follow up, and track performance. You will want to regularly review results to understand how you can improve and if you should adjust your target accounts.
If you are like 90% of the marketers SiriusDecisions surveyed, you see the value in ABM. But, don’t wait to pick a shiny new tool before getting started. Simply identify your target accounts, market to them, and measure your results. It really can be that simple.
Malinda Wilkinson, CMO