Account based marketing (ABM) can be a very powerful strategy for B2B marketers targeting enterprise clients, but most companies don’t practice it well. Most rely on traditional B2B marketing tactics, in which prospects pass through numerous levels of qualification or nurturing prior to conversion. If the B2B marketer is successful in getting a marketing qualified lead (MQL), the sales team likely must parse through numerous opportunities to determine if each is a sales qualified lead (SQL). This traditional process can be costly to fill the top of the funnel and then nurture the opportunities though the middle of the funnel. A lot of time, effort, and money spent can lead to low conversion rates and low return on marketing investment.
Sales and marketing effectiveness and efficiency can be improved through strategic, well executed account based marketing. An account based marketing agency experienced in B2B strategy can help.
Account based marketing (ABM) is a business-to-business strategy that a marketer customizes to each key prospect in its target market. ABM is based on the premise that every enterprise account is unique: Different use cases, procurement practices, and buying criteria.
Rather than solely trying to cast a wide net for inbound leads, account based marketing focuses outbound efforts toward targeted, high-value ideal accounts, which should maximize conversions and ROI. ABM is most useful when the product, service, or solution being sold has a higher price and a longer, more complex buying cycle.
Because of the complexity, it is common for the potential client to have a buying committee of multiple influencers (personas) involved in the decision making process (e.g., members of procurement, operations, finance departments). With such a complex buying and selling process, it is logically beneficial for the seller’s marketing process to be personalized to each target account.
If the seller’s marketing team is under-resourced or inexperienced in customizing unique one-off campaigns, it may be beneficial to hire an account based marketing agency to facilitate the strategy and execution. An external ABM agency can help the sales and marketing better align their goals and collaborate more strategically. For each targeted account, the ABM agency may help in identifying, researching, and understanding the target account’s various buyer personas. The agency can help repurpose generic marketing assets and messaging into customized communication workflows. The agency can help leverage and customize existing case studies, white papers, videos, presentations, articles, and proposals for each persona in each account for each stage of the buyer’s journey.
A strong ABM strategy begins with defining the attributes that make the targeted account an ideal fit. Focusing on the traits and needs of these organizations will help the marketing team develop campaigns that leverage intentional person-to-person relationships and deploy effective messaging and placement. Because account based marketing is designed with each targeted client in mind, it can create a better customer experience, shorten the sales cycle, and increase the closing rate. An account based marketing agency can help prepare the targeted personas with thought leadership content and positioning tactics before the buyer is approached by the salesperson. As the selling cycle progresses, content can be modified and quickly delivered to each buyer persona based on the behavioral triggers in the ongoing engagement.
An experienced, knowledgeable, strategic account based marketing agency can execute the heavy lifting of content creation, customization, and delivery. Such an agency partner can research target markets and industries, ideal customer profiles and can deliver custom campaigns to drive sales. The best ABM agencies can research and expand one targeted campaign to reach another similar one, opening the opportunity for even greater increased revenue with little extra effort on the selling company’s part.
The success of ABM relies heavily on tracking buyer journey stages, optimizing conversion rates, and calculating customer acquisition costs (CAC). Skilled account based marketing companies like Nvent Marketing can provide reach, engagement, and conversion analytics so that future campaigns can be improved.
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Should I Hire an Account Based Marketing Agency?
If you’re still contemplating whether to hire an account based marketing agency, it may be worth the effort to get a complimentary consultation to learn more and consider the costs and benefits. Contact Nvent Marketing to get started.