What is Account Based Marketing?
When it comes to your business-to-business (B2B) marketing strategy you might think that the more leads you attract, the more revenue you will see in the long run. The thought process is logical but bringing into more leads isn’t always beneficial to your business. Instead, you should focus on attracting the right leads. This is where account-based marketing comes in. This alternative B2B strategy focuses on delivering sales and marketing resources to specifically defined target accounts as opposed to casting a wide net with vague content.
By focusing on developing personalized campaigns, you will be able to deliver powerful messages to your audience that speaks directly to their pain points. You’ll be telling me exactly how you can help them. Cutting to the chase… account based marketing will change the way you interact with your prospects and they’ll thank you for it by becoming customers.
Why it Works
Being laser focused with your account based marketing strategy helps you to achieve success for a number of reasons. First, it’s more efficient which is more important than ever when all marketers are being asked to do more with less. In fact, 84% of marketers surveyed indicated that account based marketing had an increased return on investment compared to other strategies. If that’s not enough, account-based marketing is the perfect strategy for the digital marketing age. By carefully tailoring your messaging to the right people, you are giving your audience a sense that you understand their pain and actually want to help them solve it, not just sell them one more tool.
There is a reason more B2B organizations look to account-based marketing to increase their results without increasing costs. It’s effective and it works. So, if your competitors are already taking advantage of this strategy, what are you waiting for?
Perfecting Your Message: Customer Insights
At Power Digital, we have a proprietary customer insights process that is designed to help you better understand your target customer and the key pain points they experience. This process involves surveying your current customers in order to create data-driven personas that will shape all of your messaging and strategy moving forward. This is crucial to the success of your account based marketing strategy. Once we have developed these personas, we help you integrate them into every facet of your marketing campaigns so you can start seeing results.
A Funneled Approach to ABM
Our approach to account-based marketing is simple, we help you understand your customers so you can find more of them. By discovering similarities among your existing client base, we can refine the type of person you are looking for. Here is how we do it:
- Discovery Call Before we get started, we will set up a call with your team to further understand the current state of your marketing strategy and what your goals are for the future. The more detail you provide, the better. We want to become a part of your team and understand how we can help you moving forward.
- Customer Survey & Audit Once we have established our goals, we’ll begin to survey your customers and audit your existing processes. This will provide invaluable insights and data for us to use in developing a new strategy.
- Refine Messaging & Targeting Next, we’ll use all that data to refine the messaging you are using and the parameters that you will use to put that information in front of the right people.
- Develop Your Funnel Finally, we will put all of that data and messaging to use and build a streamlined marketing funnel that will help you take your audience from prospect to customer.
- Launch & Ongoing Optimization We’ll help you with the initial rollout of your new strategy and stick around to help you continuously optimize your process. We pride ourselves on constantly working to make adjustments, both large and small, that will make your marketing processes as profitable as possible while still being lean and efficient.
Aligning Our Efforts With Your Sales Team
However, we don’t just work with your marketing team because you’re not in this alone. We understand the importance of having a strong alignment with your sales team and will work directly with them to set up any relevant systems or processes. This could include helping them to set up a client relationship manager (CRM), implement lead scoring practices, or developing workflows and automation.
As we continue to work with your marketing team to refine and optimize your strategy, we will look for continual feedback from the sales team as well. They will be able to provide insight into the quality of leads we are generating and help us to optimize accordingly because ultimately we are all on the same team with the same goal: close more deals. That’s why we don’t measure the success of our campaigns based on the number of leads you get, but by how many of those leads convert into customers.
Perfecting Your Online Marketing Mix
What makes Power Digital different from your team is our ability to provide you with knowledge experts across all marketing channels. Instead of relying on a single person to try and understand the intricacies of each, you get a seasoned expert who utilizes each channel and its associated tools every day. This allows us to create a customized marketing plan that will drive the best possible results for your business. We can assist with everything from social media content to paid advertisements to email marketing campaigns. Plus, by having multiple people working on your account at all times, we are able to quickly deploy new campaigns and adjust the budget as needed based on the results we are seeing to optimize your return.
Our team will also build out an internal infrastructure for your team to utilize that is lean and seamlessly integrates with your sales process. This ensures that while we do most of the heavy lifting, your teams are still informed of everything that is going on.
If you don’t have an account based marketing strategy in place, you are wasting time and money. Most B2B marketers have already implemented an account based process which means your competitors are doing it, your indirect competitors are doing it, and competition you are not even aware of yet is doing it. Without an account based marketing strategy, you will get left behind and struggle to keep up with your industry. Instead, let Power Digital Marketing start helping you today! We will help you get up to speed quickly so you can see increased results as soon as possible. Our mission is to help your business thrive, so let us do what we do best.
It takes a lot to find the right customers, but you don’t have to do it alone. Power Digital can help!
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