In many B2B organisations, Account-based marketing has become a big deal as it seems to be brought up at many conferences and in all strategic marketing discussions. We think ABM is a fantastic strategy for growth but there is an excessive amount of information floating about. Act-On states that only “43% of people have a clear definition of what ABM is.
90% of marketers believe that ABM is crucial to marketing (Digital marketing institute) so we have put together a list of five important facts to know about ABM.
Improving consistency
Like any marketing strategy, ABM needs to be executed properly and consistently where possible. A B2B customer will use a number of interaction channels such as email, phone, ads and ABM can help by providing a consistent experience across these channels to each person in a targeted account.
Strengthening retention
Customer retention is such an important metric and research shows that ABM provides benefits for retaining and expanding current client relationships. Investing in keeping your clients will deliver a stream of reliable revenue. ABM is a long-term investment and according to RollWorks, companies have experienced a 36% higher retention rate and 38% higher sales win rates.
Personalised communications
Account-based marketing takes personalized marketing to a different level by evolving content that decision makers want and need to move them the buyer’s journey. Personalization in an ABM strategy will allow you to speak to your prospects with a unique message to increase the chances of positive responses.
Marketing Automation is a key tool for ABM
Marketing automation lets you create processes and set it to repeat without additional activity. The benefits marketers see with combining automation and ABM strategy are:
- Triggering campaigns and workflows
- Linking buyer behaviours and data across contacts
With marketing automation, you must review the effectiveness of each marketing activity. Knowing the effectiveness of components of your ABM strategy, you can build more campaigns moving forward.
ROI
84% of businesses have said that ABM delivers higher ROI than other marketing strategies (Forbes). Measuring ROI on any marketing activity is important and is possible with marketing automation and tools available. ABM allows marketers to see both return on investment and immediate areas for improvement depending how contacts are answering to your content.
Read our other ABM blogs here.