ABM: Nurturing Strategic Accounts

Account Based Marketing is no longer the new kid on the block. You can't say you've never heard of it. Although it may be fair to say you're not quite sure how to implement it. Fair enough. We can help there. But the worst thing you can do is ignore it because it is the surest way to long-term profits and customer loyalty. There's real meat on the bone when you communicate directly with customers who are ripe for purchasing your products.


According to Gartner, "Account-based marketing (ABM) has arrived", and businesses of all sizes must start planning and executing ABM strategies or risk losing clients to savvier competitors.


Survey data confirms that strong account-based marketing strategies live up to the hype. Respondents to the 2020 Gartner Technology Marketing Benchmarks Survey observed increases in key marketing and sales areas after implementing ABM. Marketing saw improved conversion rates throughout the funnel, increased web traffic, and improved advertising and email performance. Sales saw higher win rates, faster sales cycles, and increased deal sizes."

Source: Asend2 The state of lead nurturing 2021


Take care of those who will be taking care of you

Nurturing and taking care of those customers with the most potential will pay the most dividends over the life of the relationship. And the beauty of account based marketing is that you will be engaging with both purchasers and influencers in the customer business, so there are many entry points to win sales.


Despite the favourable outlook of ABM, there are still marketers who haven't yet created any winning strategies. There are several elements that work toward ABM success, but the most important is nurturing strategic accounts.


Craft messaging based on customer position in the sales funnel

During their relationships with you, your customers will fall in one of three stages of the sales cycle:

  • Top of the funnel (Awareness)

  • Middle of the funnel (Consideration)

  • Bottom of the funnel (Decision)

You'll know how nuanced or direct you need to be with your sales messaging based on what the customer is prepared to hear at each stage.


Attribute and segment properly.

An immense help in winning with ABM is being able to learn what content of yours your customers have engaged with so you have a better idea of what else would be important for them to learn about you and your products. This is also an excellent opportunity to break down enterprise customers into smaller groups for even more specialised campaigns.


Create compelling content

We know that it's important to communicate appropriately during the funnel stages, but it's even more critical to develop informative and engaging content. Make sure you provide product information as well as personalised content in story form that is always appealing and will keep prospects and customers interested for the length of the relationship. When the content is personalised, customers know that you understand their needs and can provide appropriate products and solutions.


Integrate sales and marketing

When sales and marketing operate separate initiatives to generate leads, efforts are diluted and not always appropriately targeted. But when both groups work together to focus on specific accounts, there is a strong momentum toward securing sales quicker. Customers also appreciate the dedicated attention from both groups when they are in alignment and working in unison to meet their business objectives.


Some days may seem challenging, but a carefully thought out account based marketing program with nurtured leads can make a huge difference in sales and revenue.


 

How to drive profit from Account-Based Marketing

How to drive profit from Account-Based Marketing

There’s a time for spray and pray marketing: For casting your net wide when sharing news in the expectation that a small percentage of recipients will have that ‘aha’ moment. But let’s face it, when the emphasis is on delivering immediate results (and timely opportunities), then the more targeted your activities the better.


Which is, of course, the central promise behind Account-Based Marketing (ABM). With it comes the ability to deliver more meaningful and relevant messages that are tailored to a precise audience. But then you already knew that. What you possibly don’t know so well are the key factors behind a successful ABM programme or the main pitfalls to avoid.


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