5 Benefits for b2b businesses using Account-Based Marketing
Digital Marketing Specialist at SalesboxAI
As Account-Based Marketing is proving to be an effective strategy to focus on high-value accounts, organizations of all sizes are increasingly adding ABM into their marketing process.
For years, Marketers were casting wide nets and using repetitive techniques pertaining to inbound marketing and heavy advertising. With competition getting higher these tactics are no longer effective especially when targeting businesses. ABM is a major cost saver for organizations with a set of sales accounts and higher targets to achieve.
Benefits of Account-Based Marketing
1. Expand your reach beyond one lead
Remember, when it comes to closing a deal, it’s rarely a single person making the decision. (With enterprise deals in particular, 17 people are typically involved in the decision-making process…17!). This is why it’s important to engage with the entire decision-making group instead of an individual lead or contact. Like traditional outreaches, marketing channels like email are limited to prospects who come to you and/or are in your database. This makes it challenging to reach more than one or two contacts in an account.
With Artificial Intelligence at the core, tools like SalesboxAI will help to drive awareness, credibility, and consensus in an organization by proactively getting your message in front of all of the decision-makers, even if they’re not in your CRM and haven’t come to your website.
ABM provides a great way to engage hard-to-reach stakeholders like C-level executives and other key influencers. Consider the influencers that Sales does not talk to but who should be aware of your company’s offering, such as Procurement and Finance. Many of these individuals won’t download content or visit your website the same way your key contact at the account will, but proactive Account-Based Marketing provides the ability to reach this audience directly on their terms.
2. Bring in cohesion between Email and Advertising unit
Email marketing and paid advertisements are the two main sources in the marketing mix that works independently. With the competition in the market and the number of emails flooding around emails are now getting lesser attention than earlier. Advertisements are working best in brand awareness and promotions but when it comes to conversion and ROI most brands are struggling with the results.
Imagine both working together as a single unit, Orchestrating account journey with tactical cohesion of customer-preferred channels create the best results. Account-Based Marketing approach allows the combination of these channel as a unit.
Here is an example with SalesboxAI: You can target Decision-makers of a particular account with email outreaches and engage them in channels like Linkedin and Facebook to get attention. Even if the prospect skips your email in the first attempt, on the following outreach he will find your product similar as he has already engaged with you in an advertisement. The chances to get response increases as the personalized message and topics selected will be of interest. This pattern can be used in a mix-match for influencers and see the campaign results based on each channel and in account level within the SalesboxAI ABM platform.
3. Filter Irrelevant leads from the campaigns
When it comes to traditional B2B marketing, sales teams work based on accounts and Marketers are in a numbers game, they focus on getting maximum leads to fill the funnel by blasting out the same generic ads, emails, and content to everyone. This involves a higher number of irrelevant leads which results in wastage of time and budget.
In Account-Based marketing, the process focuses on your target account and intent accounts which helps to stay relevant with your outreach. This approach gives the opportunity to nurture only important accounts you’ve chosen, further expediting the process of sales. The Result- “You don’t waste time on leads who’d never buy”.
4. Implement proactive Marketing for better results
CRM retargeting (reaching to contacts in your database), Google AdWords, retargeting (advertising to contacts who have visited your site) and most of the other traditional display advertisements are limited to only the people who visit your website or search for a keyword or who are already in your database. These types of outreaches are reactive. This approach of marketing is still valuable, but a huge segment of your target audience remains untouched. It also does not allow you to reach the entire buying committee, only those that first engage on your website.
Instead, account-based marketing empowers you to take a proactive approach to targeted and personalized marketing. An ABM strategy includes identifying a set of target accounts that your sales team would like to perceive and developing targeted messaging and creative ways to reach them. The ABM system expands by adding Active Demands(Intent leads) which are the ones that are in, active research mode.
Thus allows you to reach Accounts that are likely to buy your product/service, including the contacts that are not in your CRM, and have never been to your website.
5. Build a relationship with stakeholders based on trust
Companies are always looking for solutions to problems online. ABM, in this case, provides them the personalized solution through communication via blogs, videos, and social media. Naturally, they will get attracted to you if you offer to solve their problems, which further creates trust between the two. A relationship based on trust is a relationship that can lead to good sales and future referrals.
6. Earn maximum ROI on your marketing efforts
One of the biggest challenges in marketing has always been justifying the budget. With optimized and efficient efforts ABM provides the best in class ROI. Schedule A Demo with our ABM Experts to learn more about the budget benefits of Account-Based Marketing.