Get the Most from Account Based Marketing with Automation
For many businesses, one or two main clients can represent a significant portion of their revenue. That’s why it doesn’t make sense to use a one-to-many marketing strategy for these businesses. Account based marketing (ABM) is the better method to harness the value in each potential client. ABM is a strategy focusing on targeted accounts. It approaches leads and engages clients in a one-to-one manner.
3 Key Things that Make ABM Work
Automation is a big part of executing a real ABM campaign. Without automation, larger scale ABM campaigns become hard to manage. Automated drip campaigns based on behavioral segmentation data turn leads into iron-clad clients, and use personalization data to continue to nurture relationships for the entire lifecycle. To make automation work in ABM, various marketing funnels are set up to address the actions of each lead. Intricate workflow planning for a long campaign anticipates the variations of the customer path.
2. Advanced Tracking
Advanced tracking measures deliver customized drip campaigns and touch points. It is vital tracking goes beyond email and must utilize all channels including social media, websites, display ads, phone calls, etc. The more data companies collect, the more personalization is possible, and the more precise their message, targeting, and marketing will be. Additionally, customers must be tracked after sales closed. Smart companies use this data to maximize customer lifetime value with targeted follow up offers and personalized service to retain their clients.
3. Data-Driven Campaigns
Making the right decisions is dependant on proper data analysis. Companies using ABM must dig into their data to understand their leads and clients and customize marketing for each individual lead. The data facilitates behavioral segmentation and ABM campaign optimization to create personalized ongoing campaigns for the entire customer lifecycle. ABM is not a set-it-and-forget-it strategy. It is reiterative and requires ongoing work. While many aspects of ABM is automated, leads and customers evolve in real time.
Start Using Account Based Marketing
Executing a winning ABM campaign is challenging. Companies using ABM must know how to use and integrate their CRM platform in their marketing campaigns effectively. Proper tracking and reporting are necessary to drive the direction of the campaigns. A big part of making ABM work is alignment between the marketing division and sales team. The marketing division informs the sales team the actions to take based on activity tracking, lead scoring, data analysis, and other indicators.
This empowers the sales team to push for the sale or appointment at the right time. Additionally, the sales team creates a sales pitch based on individual data and not on a generalized sales presentation. While this is a complex marketing strategy, it results in a higher lead to customer conversion rates and profit margins compared to a traditional strategy for campaigns.