Account-based marketing (ABM) isn’t a new concept. So for those B2B marketers in the know, the world of ABM is demanding more attention than ever before.
In the last two years, the number of companies with full ABM programs in place grew by 21 percent.
And, according to the Information Technology Services Marketing Association (ITSMA), 80 percent of marketers report that ABM initiatives outperform other marketing investments.
But wait! What is ABM, exactly? And how can you use it to improve your B2B marketing efforts? Not to worry, we have the answers below.
If you’re a B2B marketer, you want your campaign to attract as many companies as possible in your target market, right?
Now, think of “account-based marketing” as just that—literally, it allows you to concentrate your campaign resources on specifically targeted accounts.
In other words, ABM can center on specific aspects of an account you’re targeting.
Unlike broader marketing efforts, you can now reach those accounts with a highly personalized message providing an extra level of client attention.
Along with ABM comes account-based advertising (ABA) and account-based sales (ABS), which make up the full account-based experience (ABX).
ABM’s customer-centric strategy creates better engagement and results for marketers in a number of ways.
By shifting your focus from lots of leads to highly targeted accounts, marketers are able to connect with specific companies that ultimately are a perfect fit for their brand.
Marketers also save on wasted spend, because a more targeted effort produces more qualified leads than casting a wider net and having to let go of those leads that will never convert.
Marketers everywhere see tremendous value in being targeted and personalized in their efforts. B2B marketers are no exception.
“The convergence of ABM and programmatic technology has expanded the ways B2B marketers can leverage data and insights to deliver intelligent marketing,” said Niraj Deo, Senior Director, B2B Product Management, Oracle Data Cloud.
“It has also dramatically increased the scale and impact that these data-driven efforts can drive,” he explained.
For a real-world example, marketers can learn some valuable lessons from Vindicia, a leader in subscription billing.
Vindicia processes more than $24.8B globally and generates more than $90MM in annual incremental revenue for the clients they work with, including BBC, Lionsgate, Comic-Con International, TransUnion Interactive, Allrecipes, IAC, Vimeo, and Texture.
By developing an omni-channel approach to their campaigns, Vindicia found ABM success on a global level.
Here are seven key tips for when you activate your own ABM campaign.
Location, location, location. Plan ahead. Leave time to optimize your account selection by creating localized account lists to reflect priority audiences to help achieve your objective.
Whether it’s clicks, leads, or brand awareness, make sure you’re strategizing and setting campaign goals for each creative and channel to have optimization benchmarks.
Find a partner that completes your data picture. Vindicia teamed up with Oracle Data Cloud and Kwanzoo to reach their target audiences across the globe. Using both cookie and IP targeting resulted in global campaign success.
Personalized messaging and creative are key to optimizing across a multichannel campaign. Tailor content to the channel and that audience’s varying stages of the customer journey.
As you target accounts globally, strategically select your DSPs to hit all regional key buyers and influencers. Build in time and resources, making sure your data strategy aligns to the target location.
ABM ads and retargeting ads go hand in hand. To increase conversions, bring in visitors from ABM target accounts and retarget them with fresh messages.
Deliver account-level metrics to your team, including lists of top engaged accounts and individual account visitor journeys. Find what works, cut what doesn’t, and continue to iterate based on the results you see.
As B2B marketers align with an account-based approach, they become more closely aligned with sales and often become more involved in defining their organization’s overall data and go-to-market strategy.
This helps raise marketing’s profile within the organization and shifts marketing perceptions from a cost center to a true business driver.
I hope these tips help you activate your first ABM campaign, and remember our team is here to help you every step of the way.