Account Based Marketing: 'zero waste' marketing
Posted: Sun Dec 22, 2024 6:54 am
Account Based Marketing (ABM) is a marketing methodology whose main objective is to win highly important accounts for your company. This means that instead of creating campaigns with the intention of reaching the largest number of people and thus “fishing” for potential customers, ABM starts from a pre-defined list of contacts to impact with the campaigns.
The objective is clear: to focus all energy on attracting customers who will be key to the company's growth. This is where the idea of 'Zero Waste Marketing' comes from.
Since ABM campaigns already have the contacts that will be impacted, the entire budget is channeled solely towards attracting those predefined ideal Customers. Not to mention that only with ABM is it possible to personalize campaigns to the millimeter, which makes the content highly relevant and, of course, effective.
But why are you talking to me about this?
Simple: because it works and your IT company can benefit from this marketing methodology. For example, since Genesys started using ABM, it has been the source of 60% of all its new leads. Let’s look at the 3 main reasons for this level of effectiveness:
Closer relationship between Sales and Marketing – with ABM, Sales and Marketing act as a single team and there is no longer any discussion about quantity of leads vs. quality of leads or qualified leads vs. unqualified leads.
Efficiency – it is worth repeating that this Marketing methodology is so focused on the companies with whom it wants to dialogue that there is no room for wasting resources.
Improved Customer Experience – In traditional marketing, the rule is to make relatively generic communications for a given market, but with account-based marketing, communications are necessarily personalized. This means that the entire customer experience will be highly relevant and motivating.
Who is Account Based Marketing for?
ABM is ideal for companies whose customers have long decision-making processes involving several people, i.e. for B2B markets. We will see why in more detail below. But the important thing to remember is that in companies with a significant structure, it is normal for the decision to go through several interlocutors, from directors to executives or analysts. The more effective your communication is, the more elements of this decision chain you can convince.
This interests me. How do I apply it to my IT company?
1. Identify accounts and individuals
Create an Ideal Customer Profile (ICP) and compile a list thailand telegram viral of leads that work for these companies. This database should be larger than 1,000 contacts if you intend to use Google Ads, Facebook Ads or LinkedIn to create targeted campaigns for these emails.
If you are starting from scratch, we suggest that you search for your ideal client by CAE and then analyze the reports to identify the companies that match your ideal client. Identifying the right individuals within companies is not always easy, but in large companies, this information is often public or on the website.
2. Define the ideal personas and channels
Create the personas that will allow you to communicate with these individuals and get that account. You need to correctly identify the best communication channels to communicate with them. Will it be LinkedIn? Twitter? Newspapers? Certain blogs? Google? What difficulty are they facing that your company can address? What solution can you provide to their frustrations? It is based on this information that you can start to design your targeted and focused campaigns.
3. Create the ABM campaign
Once you have chosen your companies and defined your personas, you need to develop targeted campaigns that will be highly relevant throughout the customer journey . Campaigns can include a variety of actions, such as email, events, direct marketing, pay per click (PPC), ads or content marketing. We believe that content will be a great ally in this journey, as it is an excellent way to demonstrate your unique value proposition (UVP) and position yourself as an authority or leader in your industry.
Spigit, a crowdsourcing idea generation software, realized it could use LinkedIn’s targeting capabilities to run a series of ABM campaigns. The focus and personalization of this targeting allowed it to target key job titles and companies. The results surpassed LinkedIn’s benchmarks , with a Click Through Rate (CTR) of 0.517% and an Engagement Rate of 0.567%, almost double the average values for campaigns on the platform.
Building and nurturing relationships is essential for your ABM to be successful. So think about how you can make every stage of the customer journey relevant.
4. Define field positions in ABM
All members of your team should know their roles and responsibilities. Create a map of the occasions and ways in which the Marketing and Sales teams will interact with the stakeholders. The goal is always to promote interest and motivate the Customer to make a decision. Our SLA template can be an asset in defining this alignment and streamlining internal processes.
5. Campaign execution
The Marketing and Sales team takes action and interacts with the Customer based on a focused strategy. This is because, through the Customer's journey, they will already know what they are looking for, whether they use any similar software or which features of our software interest them most (for example). This information allows the Sales team to build a truly personalized proposal dedicated to the Customer.
6. Measuring and optimizing is the soul of business
Among all the Key Performance Indicators (KPIs) that you may want to monitor to prove the success of your ABM strategy, we suggest the following:
Connect rate – the number of accounts with which your team has been able to build a meaningful relationship.
Pass rate – the number of qualified leads passed to Sales.
Close rate – percentage of closed and won deals.
Value of closed deals.
Funnel velocity – utilization rates of generated leads relative to other campaigns.
Number of companies impacted per total number of companies on the list.
Give your sales team time to generate results. Wait for the typical buying cycle and adjust your strategy as needed.
Conclusion
Account Based Marketing is potentially a game changer for IT companies operating in the most complex areas of the industry. If you feel that your company is having a hard time making itself heard, focus on the main accounts that can leverage your business and understand their main pain points. Then, all you have to do is personalize the contact and explain why they are your best pain reliever.
The objective is clear: to focus all energy on attracting customers who will be key to the company's growth. This is where the idea of 'Zero Waste Marketing' comes from.
Since ABM campaigns already have the contacts that will be impacted, the entire budget is channeled solely towards attracting those predefined ideal Customers. Not to mention that only with ABM is it possible to personalize campaigns to the millimeter, which makes the content highly relevant and, of course, effective.
But why are you talking to me about this?
Simple: because it works and your IT company can benefit from this marketing methodology. For example, since Genesys started using ABM, it has been the source of 60% of all its new leads. Let’s look at the 3 main reasons for this level of effectiveness:
Closer relationship between Sales and Marketing – with ABM, Sales and Marketing act as a single team and there is no longer any discussion about quantity of leads vs. quality of leads or qualified leads vs. unqualified leads.
Efficiency – it is worth repeating that this Marketing methodology is so focused on the companies with whom it wants to dialogue that there is no room for wasting resources.
Improved Customer Experience – In traditional marketing, the rule is to make relatively generic communications for a given market, but with account-based marketing, communications are necessarily personalized. This means that the entire customer experience will be highly relevant and motivating.
Who is Account Based Marketing for?
ABM is ideal for companies whose customers have long decision-making processes involving several people, i.e. for B2B markets. We will see why in more detail below. But the important thing to remember is that in companies with a significant structure, it is normal for the decision to go through several interlocutors, from directors to executives or analysts. The more effective your communication is, the more elements of this decision chain you can convince.
This interests me. How do I apply it to my IT company?
1. Identify accounts and individuals
Create an Ideal Customer Profile (ICP) and compile a list thailand telegram viral of leads that work for these companies. This database should be larger than 1,000 contacts if you intend to use Google Ads, Facebook Ads or LinkedIn to create targeted campaigns for these emails.
If you are starting from scratch, we suggest that you search for your ideal client by CAE and then analyze the reports to identify the companies that match your ideal client. Identifying the right individuals within companies is not always easy, but in large companies, this information is often public or on the website.
2. Define the ideal personas and channels
Create the personas that will allow you to communicate with these individuals and get that account. You need to correctly identify the best communication channels to communicate with them. Will it be LinkedIn? Twitter? Newspapers? Certain blogs? Google? What difficulty are they facing that your company can address? What solution can you provide to their frustrations? It is based on this information that you can start to design your targeted and focused campaigns.
3. Create the ABM campaign
Once you have chosen your companies and defined your personas, you need to develop targeted campaigns that will be highly relevant throughout the customer journey . Campaigns can include a variety of actions, such as email, events, direct marketing, pay per click (PPC), ads or content marketing. We believe that content will be a great ally in this journey, as it is an excellent way to demonstrate your unique value proposition (UVP) and position yourself as an authority or leader in your industry.
Spigit, a crowdsourcing idea generation software, realized it could use LinkedIn’s targeting capabilities to run a series of ABM campaigns. The focus and personalization of this targeting allowed it to target key job titles and companies. The results surpassed LinkedIn’s benchmarks , with a Click Through Rate (CTR) of 0.517% and an Engagement Rate of 0.567%, almost double the average values for campaigns on the platform.
Building and nurturing relationships is essential for your ABM to be successful. So think about how you can make every stage of the customer journey relevant.
4. Define field positions in ABM
All members of your team should know their roles and responsibilities. Create a map of the occasions and ways in which the Marketing and Sales teams will interact with the stakeholders. The goal is always to promote interest and motivate the Customer to make a decision. Our SLA template can be an asset in defining this alignment and streamlining internal processes.
5. Campaign execution
The Marketing and Sales team takes action and interacts with the Customer based on a focused strategy. This is because, through the Customer's journey, they will already know what they are looking for, whether they use any similar software or which features of our software interest them most (for example). This information allows the Sales team to build a truly personalized proposal dedicated to the Customer.
6. Measuring and optimizing is the soul of business
Among all the Key Performance Indicators (KPIs) that you may want to monitor to prove the success of your ABM strategy, we suggest the following:
Connect rate – the number of accounts with which your team has been able to build a meaningful relationship.
Pass rate – the number of qualified leads passed to Sales.
Close rate – percentage of closed and won deals.
Value of closed deals.
Funnel velocity – utilization rates of generated leads relative to other campaigns.
Number of companies impacted per total number of companies on the list.
Give your sales team time to generate results. Wait for the typical buying cycle and adjust your strategy as needed.
Conclusion
Account Based Marketing is potentially a game changer for IT companies operating in the most complex areas of the industry. If you feel that your company is having a hard time making itself heard, focus on the main accounts that can leverage your business and understand their main pain points. Then, all you have to do is personalize the contact and explain why they are your best pain reliever.