The Benefits of Account-based Marketing
Let’s say you want to host an event with business CEOs to establish strong B2B relationships. Rather than simply sending out an email blast to your company’s entire contact list, you can target select individuals that match your ideal criteria. This is an example of an account-based marketing technique.
Account-based marketing is a business strategy that targets individuals through dedicated campaigns based on their account activity and preferences.
According to FlipMyFunne’s research, 82% of marketing professionals used account-based marketing programs for the sake of acquiring new business in 2019. At 60% is pipeline acceleration, while 54% pertains to lead generation. When it comes to upselling and cross-selling to customers, it was ranked at 38%.
A 2019 survey conducted by the ABM Leadership Alliance and ITSMA found that 37% of marketers worldwide saw a somewhat higher return on investment (ROI) using account-based marketing compared to traditional marketing. Meanwhile, 34% of those surveyed noted that account-based marketing ROI was significantly higher than traditional initiatives.
Marketing professionals in the technology and software industry are taking the lead when it comes to adopting account-based marketing programs. FlipMyFunnel noted that technology and software amounted to 72% in terms of adoption. In October 2019, marketers in the business services and consulting industry accounted for 13%, while financial services reached 4%.
Given this information, businesses should consider the implementation of account-based marketing strategies in order to boost business relations, generate leads, and receive a significant increase in ROI. There are several ways to get started on this.
Use account-based marketing in emails
Targeting potential and new leads through emails is one of the most effective account-based marketing techniques, according to a survey by the ABM Leadership Alliance and ITSMA. In fact, 88% of worldwide markets used emails for account-based marketing in October 2019. To get started, your marketing team can create specific email lists through the segregation of contacts. These individuals can be segregated into several groups and be part of more than one category based on business size, department, and even generational cohort. Catering emails specific to them would not only help get the right message across, but increase the likelihood that your target audience will respond to the emails.
Use account-based marketing on social media
Account-based marketing techniques can also be used on social media platforms. Get started on this by identifying key stakeholders. These may be public figures, influencers, or even avid supporters of your brand, products, and services. There are several factors to take into account during the identification process. For instance, it is essential to know what kind of content these stakeholders push out. This is in addition to their reputation, the topics they find interesting, as well as whether or not they have a preference for videos, text, or images. An experienced team of professionals would be able to identify these and create effective account-based marketing strategies.
Use account-based marketing for advertisements
Account-based marketing techniques can also be used for your business advertisements. For instance, when you create an advertisement on Linkedin and Facebook, you can leverage the provided targeting tools. While Facebook can help you target specific demographics, location, and interest, LinkedIn can provide insights for retargeting purposes. The platform also has options for marketers to upload contacts and manage campaigns through its account and contact targeting services.
These are only some of the many account-based marketing techniques that businesses can use to improve their ROI and increase the effectiveness of lead generation. Much like the foundation of account-based marketing itself, every business is unique and requires strategies catered to them. A team with the expertise required to figure out these strategies via thorough market research and industry experience is a step in the right direction.
The Find Your Audience team is ready to take your business to the next level though account-based marketing. To work with our team of experts, call 647-479-0688. We may also be reached at email@example.com.