Account Based Marketing requires:
- Deep analysis of accounts to identify targets with a high propensity to purchase.
- Multi-person nurture strategies. Account Based Marketing does not ignore individuals, but rather it engages with specific contacts in the context of the organization they serve. Programs should include targeted offers intended for individuals, with consideration to the role they play within the account’s buying committee.
- Further, the content used in an ABM program must be relevant to the organizations you are targeting. Effective ABM programs don’t take a one-message-fits-all approach, sending the same message to all target accounts. They use the information you’ve collected about your account list to segment offers and content appropriately.
- Focus on the long game. ABM is ideal for complex, long-term deals that require multiple stakeholders. For that reason, it takes time before you will see results. ABM, isn’t about acquiring or engaging with a single “lead” but rather about overall account penetration.
If ABM sounds like a lot of work, it is. You might want to check out Is Account Based Marketing right for your organization? before making too much of an investment. In the video I walk you through the four questions you need to answer to determine if Account Based Marketing is right for your organization.
Once you’ve decided ABM is right for your business it’s often best to start your journey with a pilot program. A well structured pilot should:
- Measure the impact account based marketing has on opportunities to validate if a full program roll out is justified
- Identify the triggers that most impact opportunity progression
- Document system & skill gaps that will limit scaling the program beyond pilot accounts
To be most effective you will want to run your pilot program through at least 2 full sales cycles – preferably 3. This means if your average sales process is 90 days, run your program for 3 quarters. This allows you to fully test the impact of programs.
How you structure your pilot program is critical to it’s success. But don’t worry, you don’t have to go it alone! I’ve put together some great resources to help you cover all the essential program elements.
- Download the ABM Pilot Program Checklist here.
- MarketingProfs PRO Seminar (registration required). In this PRO seminar, you’ll learn everything you need to ignite your account-based marketing program. You’ll leave knowing how to identify whether ABM is right for you, who you should be targeting, and what tactics you should be using.
- You might also want to check out Unleash Possible: A Marketing Playbook that Drives Sales. It has an entire chapter dedicated to Account Based Marketing and is available for purchase on Amazon.
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