Are you ready to reap the benefits of account-based marketing? You’re not by yourself. In the B2B arena, ABM is on the rise, with 80 % of respondents in one poll wanting to raise their ABM investment in the next 12 months. In addition, in 2021, 55 % of marketers assessed their ABM program as “established,” up from 43 % in 2020.
ABM is a marketing technique that employs data and automation to target targeted, high-value clients with tailored messages, as opposed to casting a wide net as is done in traditional marketing. It is popular in B2B marketing because it works effectively for firms who offer a specific product to a specified target.
There are several ABM benefits, ranging from pushing decision-makers through the funnel faster to harmonizing your own internal procedures, all of which lead to the ultimate goal: more revenue.
ABM Advantage #1 : Internal Alignment
ABM is a group sport. Every participant – your coach, referee, players, and spectators – must agree on the game’s regulations and how you will determine whether you are winning. he executive team, marketing, sales, and IT are the four stakeholders in the ABM universe. Before the game can begin, everyone must agree on goals, KPIs, and targeting.
You may increase communication between departments by concentrating on shared goals and KPIs. Account-based marketing has the greatest impact on sales and marketing. ABM enhances the alignment of marketing and sales at 82% of B2B marketers’ companies. Sales obtain higher-quality leads, allowing them to spend more time selling and less time prospecting; marketing earns acknowledgment for their contribution to the sales funnel. Everyone is content.
ABM Advantage #2: Improved Optimization
Many of the advantages of account-based marketing may be attributed to the fact that it is a highly data-driven marketing strategy. This enables you to develop customized content depending on the industry, job, buyer journey stage, and other factors.
61% of leaders say they are focusing on developing highly targeted, customized, and content-driven lead management and nurturing programs. All of that data also enables you to better optimize your efforts depending on the performance of certain accounts and leads inside those accounts.
Learn which channels and message your prospects respond to, and then constantly fine-tune your approach. 46% of marketers are using real-time optimization – and it is speeding up their pipeline income.
ABM Advantage #3: Improved Reporting
Because ABM is a concentrated approach, you will have fewer measurements and KPIs to track. When you target a smaller number of accounts, both goal-setting and reviewing whether you reached those goals become easier. Furthermore, the precise plans you created at the start of your campaigns make it simple to track your success.
The amount of data you can collect is another significant advantage of account-based marketing. When you can link your efforts to pipeline income, you’ll keep your C-suite satisfied – which makes you seem good.
ABM Advantage #4: Increased Productivity
Without the correct ABM technology, implementing this sort of marketing plan is practically impossible. ABM automation enables you to create a process once and then scale it over several campaigns, allowing your marketers to accomplish more with less and manage many more accounts per person.
Automation makes media purchasing, ad targeting, modeling, upselling, and other tasks considerably more efficient. ABM also improves efficiency by narrowly concentrating on important clients that generate the greatest revenue and the highest ROI. If an account reaches a certain point where it is no longer worth your time to promote it, you simply cease marketing to it.
Account-based marketing improves both of your most precious resources, time and money.
ABM Advantage #5: Increased Engagement and Retention
It’s a classic marketing cliché that getting a new client costs five times as much as keeping an existing one. To decrease churn, you must ensure that you are not only attracting high-value customers who are a good fit for your business but that you are also doing all possible to retain those clients.
Investing in the sort of tailored content that ABM specializes in may help boost brand trust and establish connections that lead not only to sales but also to long-term success for both you and the customer. Personalization results in increased engagement and stronger connections, according to 95% of marketers, and tailored content developed for ABM campaigns enhances customer retention, according to 82%.
This is an evident advantage of account-based marketing.
ABM Advantage #6: Shorter Sales Cycle
Every marketer has met the “too many cooks in the kitchen” problem. In reality, the average purchasing group size is 5.4 – and most marketers won’t be shocked to find that as the number of decision-makers grows, so does the possibility of a purchase. You can advance targets through the sales funnel and close transactions quicker if you can exclude low-value prospects and target particular decision-makers.
A shorter sales cycle saves resources and allows the team to devote their entire attention to the clients that provide the highest return. That means having more time to develop new leads, pursue sales opportunities, and contribute to the bottom line.
Finally, this account-based marketing benefit provides a significant competitive edge.
ABM Advantage #7: Increased Average Contract Value
You could believe that a shorter sales cycle equals less focus on the consumer and, as a result, lesser returns. But, owing to the power of ABM, that is no longer the case. When you zero down on the greatest accounts, you don’t simply get any clients; you get consumers who are eager to sign away more money on the dotted line.
To reap the benefits of account-based marketing, you must completely change your perspective on sales. It’s no longer about getting clients in the door and closing any purchase that comes along. It’s about lead quality over the number, which eventually leads to larger transaction sizes:
Target account offers are 2.3X larger than other channels’ agreements.
ABM Advantage #8: Increased ROI
All of these account-based marketing advantages add up to what counts most for any business: ROI and revenue. According to 87% of marketers, ABM outperforms other methods of marketing in terms of ROI.
Because of all of the data we’ve been discussing, it’s also easier to analyze ROI and tie it back to income than it is with other sorts of marketing. That makes a CEO pleased.
And when the CEO is pleased, everyone is pleased.
When you use Vertedge’s ABM solution, it’s much easier to track the performance of your ABM campaign. You can increase the level of interaction with your target accounts by using powerful analytics and dashboards that provide you with complete insight into your Omni channel ABM strategy.
