Building relationships is at the heart of a successful sales strategy. Whether you are looking to target a specific individual or team, or move from a transactional procurement relationship to a trusted partnership with senior leaders, you want to catch their eye and ignite the conversations that matter. Account Based Marketing (ABM) can achieve this cut through, increase mindshare, strengthen relationships, and drive growth in your specific target accounts.
So where do you start?
Account-based intelligence is essential. Simply stated, it’s the insight, data and context that gives you the crucial information you need to avoid launching an ABM strategy based on guesswork! Campaigns thrive or fail because of good or bad intelligence. Your value proposition, messaging, the campaign itself are all informed by the intelligence. So, it’s our role as marketers to validate and to get the most value out of this data.
In this blog, we will delve into how accurate intelligence is the foundation of any winning ABM initiative.
Account selection: know your ideal customers
How does your company determine what constitutes a high-value account? Or which accounts will yield the results you need when you need them? Remember, just because a sector like Financial Services has the potential for high returns, it doesn’t mean their procurement timeline helps your sales team hit their annual sales targets.
Creating an ideal customer profile is key to answering these questions and developing a strong ABM framework. This usually begins with a period of research to identify which accounts to pursue. Data showing the account’s activity in the market, propensity to buy, and engagement with your brand in real-time, surfaces better opportunities to build relationships – and ultimately drive revenue. Though there are countless ways to identify key accounts, what’s most important is that marketing and sales agree on which to target.
Account research & insights: personalisation is paramount
In a recent conversation with a CMO, she told us her inbox currently had seven thousand unread emails. If you’re hitting her inbox, generic messaging won’t cut it. In-depth account research is the key to unlocking personalised campaigns.
Gather data from reliable sources, including social media, news articles, analyst reports and company websites, to gain valuable insights into your target accounts. If available, Account Development Plans (ADPs) are often a very useful input at this stage. Try to establish a detailed understanding of the people you want to connect with. By understanding their business challenges and aspirations, you can create highly personalised content that speaks directly to their needs.
Account mapping: know your buyers inside out
There’s a reason why 89% of marketers see a positive ROI when they use personalisation in their campaigns (source: Adobe). That’s why it’s so important to really get to know the individuals within your target accounts.
Identifying the key decision-makers and influencers, and understanding their roles, pain points, and motivations, will help you create tailored messages and curate high-value content that resonate with each individual. Researching which “watering holes” they frequent will let you reach out to these decision makers through the channels they prefer. This approach enhances your likelihood of building meaningful connections and driving conversions.
The takeaway? Accurate information is the bedrock of any successful ABM programme. From carefully selecting the right accounts to conducting thorough research and crafting personalised account plans, each step plays a vital role in driving meaningful engagement and conversions. By investing time and effort in these foundational elements, you can pave the way for ABM success.
Stay tuned for our next blog, where we’ll explore how to shape the engagement blueprint for target accounts and create a compelling relationship brand for your ABM programme. Can’t wait? Get in touch to see how we can support you before launching your next ABM programme.