In digital marketing, the one-to-one relationship is the most important. Through your interactions with potential and current clients, you establish trust, build brand loyalty, and open the door to increased leads and sales.
And yet, so many of our marketing efforts miss out on this one-to-one opportunity, focusing more on one-to-many. Paid advertising, inbound marketing, SEO, social media, are incredibly important in our digital marketing strategy, but they group together several companies into one market. With account-based marketing, you are essentially unraveling the spaghetti―removing all other complex factors and treating each account as a single market.
By looking at each account individually, you can pick up on signals such as opens, clicks, and responses to see how they are interacting with your brand. You can find out exactly what part of your strategy is or isn’t working and adjust accordingly. Using these signals will allow you to create personalized messages and tailor your campaigns to each account, like an unraveled, single piece of spaghetti.
Account-based marketing is a strong tactic to target high-value customers earlier on in the sales process. With the improvement in technology and automation we see today, creating personalized campaigns for account-based marketing is becoming easier and more affordable, driving higher value results for your company. While the strategy has historically been used by larger businesses, small and mid-size businesses are picking up on it as a more focused and productive marketing strategy that beats shooting arrows in the dark.
So what does account-based marketing achieve? Here are 5 key benefits:
- Increase customer engagement through personalized marketing. Account-based marketing is all about that one-to-one relationship that you build over time. By creating personalized content for targeted accounts, your potential customers are more likely to engage with and respond to your marketing. With content that is geared toward that business’s needs and their stage in the customer journey, your identified accounts will appreciate your individualized interest in establishing a relationship with them.
- Maximize ROI and get the best value out of your marketing campaigns. According to the Information Technology Services Marketing Association, 84% of businesses surveyed claimed that account-based marketing resulted in higher ROI than other types of B2B marketing. By prioritizing clear and concise ROI through one-to-one signals that you can track, account-based marketing allows you to maximize your ROI while identifying areas of improvement.
- Analyze the effectiveness of your campaigns through detailed and targeted metrics. Usually in digital marketing, it can be difficult to identify prospects in a myriad of communications that you send across. However, account-based marketing allows you to know for each account, how many opens, clicks, and responses you received. You can find out more specifically what aspects of your campaigns to tweak by trying out different strategies with different accounts and seeing what works best for them. Thus, the signals you can track will be more specialized and detailed.
- Focus your resources more efficiently. By focusing your energy on high value accounts earlier on, you can use your resources more effectively by building marketing campaigns specialized for your target accounts. Think of account-based marketing as an investment of time, staff, and budget optimized for your potential customers.
- Sync up your sales and marketing teams. In its nature, account-based marketing requires close alignment of your sales and marketing teams in order to choose target accounts, establish a marketing strategy, and track signals. You are bridging together the goals of both teams in terms of how to target accounts, bring them to your brand, and close the deal.
Account-based marketing is an effective and efficient way to build personalized digital marketing campaigns with a high ROI. While they shouldn’t replace your mass marketing efforts, they can complement and align with your other campaigns to increase your measurable results and success. Let’s continue to unravel the spaghetti and focus on one pasta strand at a time―account-based marketing.
Stay tuned for our next blog on the top tools you should use while setting up account-based marketing for your business.
