5 Reasons Your Company Needs Account-Based Marketing
Every company can benefit from account-based marketing, no matter your size or target market. These are our top 5 reasons why your company would benefit from incorporating ABM tactics into your marketing strategy.
1. ABM helps to align marketing and sales
If you go to any marketing conference or presentation, chances are you’ll hear about the struggles that organizations are having with aligning their marketing and sales teams. For many years, the situation looked like this: marketing reeled in leads and passed them to the sales team. The sales team established one-on-one relationships with the leads, hoping to eventually turn them into paying clients.
These days, it’s not quite so simple. Marketing is working with leads for longer than ever, through lead generation and nurture tactics. Long gone are the days where the marketing team could simply hand off leads to sales and call it a day. Marketing now must continue to make it simpler and more convenient for sales teams to connect with their leads, and that’s where ABM can be an invaluable strategy.
By bringing the focus to specific, targeted accounts, ABM helps to align the sales and marketing teams and encourages them to work together and represent the brand in a collaborative way. But it takes effort – and communication – from both sides. A successful ABM program requires input and effort from more than just the marketing team. Without the crucial information that gets passed back from sales, account-based marketing programs can’t reach their highest potential.
2. The ROI is clear
According to the TOPO 2019 Account Based Benchmark Report, 80 percent of respondents said that ABM improves the lifetime value of their customers. ABM can achieve these lofty heights because it is precise, targeted marketing that is designed to win over the client on a more personal level than ever.
These focused marketing strategies also make it easier to attribute revenue to your marketing efforts. With ABM, you can see the progress of a client through the entire sales funnel, from prospect to advocate – and you can see exactly what content, outreach or event led an account to these developments. Marketing teams can automatically share personalized, targeted content for each stage in the funnel, accelerating the buyer’s journey and enabling your sales team to convert their best accounts faster thanks to the power of account-based marketing.
3. Customers prefer personalized experiences
In the past, your marketing team would create content and target it at a wide swath of potential audiences. With the advent of high-quality data and the development of innovative marketing technology, it’s easier than ever to create, target, and distribute personalized content to your customers. The buyers speak for themselves – Aberdeen conducted research that showed 75% of customers say they prefer personalized offers.
By incorporating intent data with information gathered during the buyer’s journey, ABM allows marketers to design content strategies that will cause an emotional response in their audience. This leads to far greater ROI and makes the customer’s happy at the same time – a win/win for both marketers and consumers. This doesn’t just benefit the marketing teams; it helps the sales teams to achieve their goals more efficiently as well.
4. It’s easier than ever to set goals and analyze results
The old way of tracking success for marketing was the MQL, or marketing qualified lead. That was all well and good, but it didn’t mean much if the leads didn’t turn into increased sales and revenue. Account-based marketing allows your marketing and sales teams to track their contributions in a far more specific manner, keeping track of touchpoints throughout the buyer journey.
This brings us back to sales and marketing alignment. When sales and marketing are aligned, the goals and revenue are aligned. When marketing is in step with sales goals, sales is more likely to work closely with marketing to achieve those goals.
5. It makes your marketing efforts more efficient
There’s no doubt that marketing teams struggled to reach their full potential in the past. It used to be impossible to keep track of the metrics that drive our success today. All this data may take time to analyze, but in the end the efficiency makes it all worth it.
ABM allows you to not only target accounts in a one-to-one basis, it allows you to automatically customize and share that content as they proceed through your sales pipeline. According to SiriusDecisions State of the Account Based Revenue Engine 2019, “A library of relevant, audience-centric, easily customizable content is the lifeblood of any ABM program.”
As your buyer reaches each level of interest in your product, you can gather insight and information to set up reactive campaigns to reach the right person with the right content at the right time. That’s where Madison Logic comes in – our ABM solutions integrate with your most important technologies so you can execute your ABM strategy in real-time with the best available data.
Interested in learning more about how Madison Logic can help you accelerate your pipeline and convert your best accounts faster? Get in touch and our team will reach out to discuss how we can help you engage with the most influential individuals throughout the buyer journey.