Why ABM Made a Comeback in B2B and How It Can Maximize Profits for Your Company
In the B2B world, certain client accounts are worth a small fortune to businesses. Obviously, getting those important key clients can make or break their business. That’s why the B2B world is investing in account-based marketing or ABM. The idea is to communicate with prospects and customers as a market of one. So instead of using mass communication one-to-many strategies, the communication with each account is a personalized one-to-one interaction.
ABM Not New but Improved
ABM is not a new marketing strategy. Over the years, many B2B companies tried to target key clients but faltered due to the amount of time and resources it took to implement. The technology wasn’t there to support proper ABM. With the latest marketing tools offering personalization, behavioral segmentation, rationalization, and data, it is now possible for B2B companies to execute ABM without taxing their money, time and resources.
For example, automation can start out by nurturing key leads. The system will collect data based on the action taken. It then customizes the lead nurturing path, or buyer’s journey, based on this personalization data. Personalization is of utmost importance when it comes to dealing with important leads. Automation takes care of this by using the data to dynamically provide content relevant to the lead and optimizing the marketing message.
Timed Right with Automation
Automation also scores each lead along the way and finds the right time to push for the sale. Pushing for the sale too early can hurt the marketing campaign’s performance, but pushing too late leads to lost opportunities. Companies set up key performance indicators to score leads and then set up campaigns that automatically reach out to the accounts for a sales appointment, provide a free trial or ask the client for a financial commitment.
Personalization Now…Soon AI
To launch a proper ABM strategy, it needs to be backed up by the right marketing platforms and cloud-based intelligence services. These solutions use personalization functionalities to react to the actions of the leads in the marketing funnel. Some solutions even use a combination of AI, pre-programmed paths and data to deliver the right content and marketing messages.
When it comes to CRM type of solutions, most of them are based on sales and email data which is helpful but limiting. After all, how can you tell how engaged a lead is if all you have to go on is open rates, clickthroughs, and conversions? ABM goes beyond email and tracks multiple channels like the website, social media, mobile, and more. This means the data collected is based on multiple factors, leading to precise campaigns.
Account-based marketing is making a comeback for an important reason. It helps B2B companies increase their chances of acquiring important customers. To top it off, smaller companies now compete on the same level as their larger competitors which is why you should start looking for a platform that enables ABM services if you want to take your company to the next level.