70% of a business-to-business marketer’s budget went to account-based marketing (ABM) in 2016.
ABM is a marketing strategy that uses digital ads to target high-value accounts that show the most promise when it comes to revenue.
Unlike demand generating strategies, ABM tailors your efforts to a customer’s tastes and preferences.
As a result, you can better forecast and set goals. While ABM can be fruitful, some firms fear the risk involved in implementing it.
Here are some benefits of account-based marketing to help you gauge the risk-reward element for your business.
1. It Allows You to Reach Key Decision Makers
Sometimes a sales cycle can involve several people before a decision is made. Using account-based marketing in such scenarios will help you engage those hard-to-reach decision makers.
You’ll be able to reach them on their terms and possibly close the sale.
2. Cost Efficient
Account based marketing gives you the ability to precisely target promising customers in a budget-friendly manner.
For example, if you know who your target accounts are, you can use the tools social platforms give you to better reach without breaking the bank.
3. Trust Building
Many people tend to turn to the internet for solutions to their problems. Using ABM, you can provide valuable information via blogs, ebooks, social media, and whitepapers.
Potential clients will look you up for solutions, and when you help solve their issues, they will begin to trust you.
4. Aligns Your Sales and Marketing
One of the advantages of account-based marketing is that it helps connect your sales strategy with marketing.
As a result, the two efforts sync and deliver a coordinated message. In the end, this will cultivate high-quality relationships with customers that turn into sales.
5. Build Domain Expertise
One aspect of ABM is that it forces you to think on a more personal level as you try to understand your customers.
The more you familiarize yourself with your accounts’ needs, behavior patterns, and intent, the more you sharpen your expertise.
6. Better Understanding of Your ROI
Account marketing is by nature personalized, targeted, and incredibly precise. You can’t compare it to other general inbound and outbound marketing strategies.
Consequently, you are able to better measure your return on investment (ROI) and tweak it as you see fit.
7. Supplement Your Email Marketing
Your customers’ inboxes are likely already full from the many marketing newsletters that come their way. When you use AMB, it will help you reach your prospect where they are.
They can then open your newsletter since they do not attach the same stigma to you as you first interacted elsewhere.
Tap into the Benefits of Account-Based Marketing
Account-based marketing is a precise and personalized form of marketing that lets you reach high-value clients. Although it carries a degree of risk, the benefits of account-based marketing make it a compelling tool for many companies.
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