Today’s blog is about Account Based Marketing, briefly called ABM. For us marketing people there is one primary task and that is: generating leads.
So we do as we are being told: we focus on implementing a sophisticated marketing strategy to generate leads for our “lead funnel” through our website, social media, blog, and so on.
Only few leads make it through the narrow end of the funnel. According to „Marketing Sherpa“ only 21% of marketing generated leads convert to actual sales.
That’s a small number, which comes as no surprise, right?
Therefore, one should consider the possibility of enhancing the classic marketing strategy with an additional technique.
I’m talking about Account Based Marketing. In more specific terms, this means that marketing put their focus on a certain predefined number of accounts and provide them with personalized content in real-time. Accounts in this context could be prospects and existing clients.
Account Based Marketing: target those unique leads
The trick behind this: you have the unique opportunity to identify and get to know your leads already at a very early stage. From their very first website visit they lose anonymity and can be personally greeted at their next visit – thanks to Marketing Automation.
It is no different in our everyday lives. I’m sure you agree with me that a phone conversation with a close friend is far less complicated than one with a complete stranger.
At least you know a friend’s interests and concerns, as well as the discussion topics that better not be addressed. The situation with a stranger is quite different: you work your way through the conversation by trial and error, and you must strongly rely on your good feeling.
Obviously you can’t address all of your accounts and prospects with this approach, as the principle of personalization would easily be lost and you would be kept busy for more than 24 hours each day.
It is best to create a wish list with accounts that you have always been keen on winning. Then you agree on the content that you would like to provide your accounts with. Be smart and chose a variety of different content, depending on the account and decision-making phase. The account should get the impression that the content was selected specifically for him.
With this approach you will not necessarily increase your website traffic, but the traffic becomes more valuable and the number of revisiting leads will rise.
Shorten your sales cycles
In the digital age, where anything calls out for individualization and relevance, I think, ABM offers one of the best answers. You get to know your prospects and customers at a very early stage, and you can build a close relationship with them. Due to the intensified engagement the sales cycles will become significantly shorter, as the leads receive only content that they actually require. The ongoing feedback will also have a positive impact on your Buyer Persona definition and Buying Centers, as even supposedly “anonymous” leads will eventually benefit from your knowledge.
So what about your customer? Well, he will be spared from irrelevant content, won’t lose precious time, and will be happy about a direct contact that knows him well and caters to his exact needs.
Our team at ec4u uses this fantastic technique to provide some of our accounts with exclusive content, which we make available in real-time on landing pages particularly created for them. Find out what we can do for you and your customers.