It’s that most wonderful time of year again -- with the holiday spirit in the air for businesses and consumers alike.
As the founder of Due, a payments startup business, my team and I are pretty excited to celebrate our successes in 2016 and start focusing on the upcoming year. We look forward to the challenge and the rush of planning how we will enact an expanded account based marketing (ABM) strategy.
Engrossed in holiday planning and decorating both at the company and at home, it dawned on me just how much the holidays and account based marketing have in common. Here’s what crossed my mind:
In the last few years, ABM has been growing in popularity with more companies anticipating good things from this marketing approach. Excitement from research that shows positive signs of a significant return on investment has many marketers jumping up and down like kids on Christmas morning. I have to admit that my own company results from ABM has me feeling the same way. When everyone is talking about these activities, it gets us pumped up and inspired to get involved.
The holidays and ABM both involve lists that provide a framework for what to focus on now, in a very targeted way. Without cutting down lists, ABM and the holidays tend to be unsuccessful in terms of the results.
ABM is not intended to touch the most people possible, just as your efforts at making your holiday gift list often has to be cut down. Instead, there are just a select few that make the list because you have developed an affinity for this elite group that you know will provide the most mutual benefit.
The holidays are about coming together as family, friends, neighbors and communities, helping each other out to create a magical experience. The same goes with ABM: the more the team can collaborate from various departments and focus on the bigger picture and meaning behind what they are doing, the better the overall results for everyone involved.
Sure, you can make all of the arrangements, plans, and decisions on your own, but it is so much better (and merrier) when you work on these activities together. The plethora of work will get done faster, more accurately, and with less effort for all involved if there is collaboration.
Before making these lists, research is necessary on the accounts of both the holiday to-dos, and marketing accounts in order to truly understand the audience that shapes all activities and provides that personalized experience (product, service, or gift) for them.
Likes and dislikes need to be tabulated along with the overall trending environment to determine if there are currently available items that would be appealing to the target audience.
Comparing items (research) for the list along with determining the real value and location of these items is also an important action for both the holidays and ABM.
The clearer, deeper and more accurate the information you are able to gather for those lists, the more likely you will end up with happy recipients and customers -- with what they receive.
If done correctly, ABM and the holidays provide lasting memories and rewards that create positive experiences. With ABM, the entire strategy is about the unique needs of those targeted audience members that, when satisfied, will deliver a beneficial return for your company. It’s very similar to that emotional reaction you see when you have hit your target with the gifts you are giving out during the holidays.
The best part of the holidays and ABM is the ability to achieve the mutual benefits in the act of giving and receiving that results from all activities associated with both. Everyone ends up feeling good about the role they played, and they can look forward to another year together.
Regardless of your company’s size or budget, ABM is meant to work for all types of businesses in a way that everyone is still able to make the holidays their own. You don’t have to be rich to enjoy either; in fact, you may actually appreciate both when you take a practical and lean approach to enacting your holiday plans and your ABM strategies.
After all, it’s not about how much you spend, but it’s more about what you do with what you have and the meaning you subscribe to the situation. A similar feeling is obtained by your efforts during the holidays and the efforts you expend in your actions in your ABM planning and execution.
As a B2B Marketer, you spend a lot of your time coming up with new ways to reach the right prospect, at the right time, with the right message. Account-Based Marketing (ABM) is a tried-and-true strategy to help you do all three.
Download the Account-Based Marketing Guide For Modern Marketers to learn how to reach prospects with the right message at the right time.