This is part two of a three part blog post. Here are the links to the other entries:
Account Based Marketing Series
Part I: The Best B2B Marketing Approach in the World
Part III: How To Get Started & Scale
Simple ABM Definition
Account-based marketing focuses marketing and sales resources on a defined set of targeted accounts, where personalized campaigns are tailored to each account.
ABM Best Practices
- Suggesting Offerings with Greater Business Impact
- Sales and Marketing Alignment
- Insight Tools with Complementary Marketing Tactics
- Multichannel: Integrated Online And Offline Messaging
- Blended Strategy: One-to-one, One-to-few And One-to-many
The Benefits of an ABM Strategy
- Eliminate unqualified prospects early; eliminate poor leads that go nowhere and frustrate sales
- Improvements In Engagement With Target Accounts
- New Account Relationships
- Pipeline Growth
- Improved Customer Acquisition Process
- Spotlight on the process of customer acquisition
- Faster Sales Process; Shorter Sales Cycles
- Efficient Use Of Marketing Resources
- Narrow focus on key accounts to drive the most revenue and most likely to close
- Sales-Marketing Effort Synchronization, both keep the other accountable identifying purpose-driven activities that directly address the unique needs of each account
- Trust-Based Relationships. Clients look online for answers to solve a problem or reach a goal. They seek help and hope to get quality information online via blogs, whitepapers, videos and social media. Clients are drawn to answers, learn to trust, relationships formed, all of this leads to sales.
Key Metrics
- 80% higher returns
- The investment you make in ABM delivers either the same ROI, somewhat higher or significantly higher returns compared to other marketing initiatives. In one study 87% of marketers say ABM programs outperform every other marketing investment. In another 64% experienced higher results compared to other marketing activities
- Improve marketing ROI 97%
- Number of qualified accounts increase, top tier accounts
- Improved target accountengagement 83%
- Drive attributed & increased revenue; 60% of companies have revenue increase of at least 10% within 12 months; 1 in 5 companies experienced a revenue increase of 30% or more
- 91% of companies increase average deal size, 25% of respondents stating the increase being over 50% or larger!
- Generate more conversions and qualified leads within strategic accounts 55%;
- More qualified prospects 67%
- Drive business momentum
- Align sales and marketing 70% & companies that optimize the marketing/sales relationship grow revenue 32% faster year-over-year, compared to those without such a relationship
- Clients like it because it’s personal (75% of customers prefer personalized offers (Aberdeen))
- Goal-setting and analytics are easier; Greater understanding of performance 59%
In a study by SiriusDecisions
You’re Invited!
Join me at our upcoming workshop…
“The Best B2B Marketing Approach in the World.”
Date And Time
Tue, March 24, 2020
6:00 PM – 8:00 PM CDT
Location
2112
4245 North Knox Avenue
Chicago, IL 60641
Eventbrite: https://www.eventbrite.com/e/the-best-b2b-marketing-approach-in-the-world-tickets-94848633817
Sales & Marketing Leader
Ron Shulkin has a storied history leading the successful marketing and sales efforts of emerging digital marketing technologies. Ron architected the roll out of DoubleClick’s CRM platform to multiple vertical markets. He partnered with IBM & Cisco to introduce the first enterprise, self-service on-line video system (MediaPlatform). Ron quarterbacked the global launch of CogniStreamer’s Innovation Portal (for new product development), EngageSciences’ Content Management System, Spredfasts’ Social Media Marketing platform and 3radical’s interactive, real-time Gamification system.
Today Ron collaborates with companies to identify their ideal markets and translate product features into solutions to business problem. Ron provides sales pipeline coaching, designs Go-To-Market Strategies, and architects major tactical content pillar assets. He takes great pride delivering actionable guidance with clear returns on investment while helping companies bring their offerings to market.