The world of ABM is always changing, and it can be hard to keep up with the latest trends.
As technology continues to evolve, there are new opportunities for B2B companies to leverage ABM strategies. For example, data management platforms (DMPs) can be used to collect and segment customer data, making it easier to identify and target key accounts.
Additionally, you can pursue an ABM strategy through PPC Google Ads. By targeting specific keywords associated with your high-value accounts, you can reach individuals who are actively researching your products or services.
You can also use PPC Google Ads to target key decision-makers within your target accounts with audience targeting. By tailoring your ad copy and landing pages to the needs of your target customer, you can increase the likelihood of generating leads and sales from your PPC campaigns. You can even set up different campaigns for different stages of the buyer's journey, so you're always making the most of your PPC marketing budget.
The basic premise of ABM is to tailor your marketing efforts to specific accounts rather than pursuing a more generalised approach. This can be accomplished by customising your messages and content to fit the needs of each account, and by using data to identify and target key decision-makers within each organisation.
By taking an account-based approach, you can more effectively engage your target customers and prospects, and ultimately increase conversions and ROI.
When it comes to tracking progress and success, there are a few key metrics that you should keep in mind. First, track the number of new contacts added to your database each month. This will give you an indication of your reach. Second, track the number of interactions (opens, clicks, etc.) with your account-based marketing content. This will give you an idea of engagement levels. Finally, track conversions (leads, opportunities, customers) to see how effective your ABM efforts are in terms of generating results.
By tracking these key metrics, you can fine-tune your account-based marketing strategy and ensure that you are making the most of your marketing budget.
However, in order to understand the metrics, it is prudent to adopt these ABM stages: Identify, attract and engage. Following these stages, we can then use ABM metrics to review and improve each step in the next ABM cycle.
It is essential to create an account-based marketing campaign that is personalised for the personas of target businesses, industries and demographics. The selection is based on the common attributes of customers that best match the company’s revenue and business objectives. This means that any past successes with specific targeted accounts with respect to attracting, engaging, closing and retaining business invariably become a model for further adjusting the attributes that shape the account identification process.
There are three target audiences that are necessary to focus on in your ABM strategy:
We can identify the right buyers using buyer intent platforms like terminus and Leadfeeder or marketing automation platforms and CRMs like salesforce. The natural next step, then, is to attract the identified targets.
Once you have identified prospects and customer accounts for your ABM campaign, you can start attracting them with relevant content that will interest them. You can attract them through, for example, relevant ads, direct personalised emails or PR (which can take ABM assets beyond the realm of owned content and add critical third-party validation).
If they are not interested in what you have to offer, there is no point in trying to engage them further. Engagement is the third and arguably most important step.
The main goal of ABM is to develop a long-term, trusted and mutually beneficial relationship with accounts, companies and decision-makers in order to increase brand awareness, penetrate deeper into market spaces, build brand loyalty and grow market share. After attracting buyers, it is even more crucial to engage them in order to establish a long-term relationship with them.
To be successful, you need to know how the customer wants to engage with your company. They might want a phone call, a visit from an account executive or a face-to-face meeting. You have to find out what kind of engagement they need and then provide it in a timely manner.
Pro Tip: Sending interested prospects and customers directly to your videos on YouTube may not be a good idea for a number of reasons. YouTube’s focus is keeping visitors on the platform, not necessarily to engage with your content alone but with all other videos. This means your customers get recommendations even from competitors after watching your video (or some ‘crazy sports highlights’ because the viewer likes sports).
So, to avoid disruptions, it is best to avoid sending ABM prospects to YouTube where they are made to engage with YouTube ads and other people's content. A more beneficial tactic is to send the prospects you attract to your own ecosystem or controlled platform where they can focus on solving the problem they seek answers for.
After engagement, additional techniques to sustain interest for repeated revenue gains include:
To maximise ROI for your ABM, you need to use ABM metrics. But which metrics do SaaS B2B companies need to measure at every layer of the funnel for optimal returns?
The main metric for success in ABM is conversion rate, which measures how many leads turn into customers. Other metrics worth tracking include:
These metrics allow you to troubleshoot your ABM strategy based on actual data. ABM metrics allow you to hold yourself to a higher standard of customer maintenance and relationship management.
The 2020 State of ABM report shows a huge influx of “early” adopters of ABM programs at 43%.
The success of ABM has led many B2B organisations to invest more as they realise that the traditional "spray and pray" marketing approach is clearly no longer an effective way to reach potential customers.
Now, marketing automation enables marketers to partner more effectively with sales teams to generate greater demand among the broader set of target accounts while alerting sales to new engaged accounts that require follow-ups.
This synergy will continue into the future and we are bound to see even better coordination of marketing and sales throughout the customer lifecycle.
With artificial intelligence (AI), marketers are now able to identify and engage with prospects on a personal level. Marketers can also identify the most important touchpoints for each customer/prospect and then prioritise them accordingly.
By understanding the customer journey at this level, marketers can design personalised experiences for different customers based on their buying cycle stage.
Pro Tip: Going forward, it's going to be crucial for brands to build trust - where prospects are willing to accept that companies track their location or leave cookies in their browser, etc. Companies like YouTube and Spotify have largely succeeded in this because of their customers’ perceived value.
Customer expectations going forward are going to include value in the form of Spotify-like personalisation.
Marketers will have to live up to this challenge to sustain the relationships they have with those they engage with.
SaaS B2B marketing is the marketing of software to large organisations who are increasingly looking to outsource their B2B software to cut costs. ABM is an important part of SaaS B2B marketing because it helps SaaS B2B companies reach the decision makers in these large organisations.
ABM is based on the idea that the best way to sell to large organisations is by targeting specific accounts that are in your target market, rather than making blanket offers
ABM platforms are technologies that support digital marketers in practising ABM. B2B marketers utilise these platforms to target and manage suitable accounts for high-quality lead generation based on buyer persona. Popular ABM platforms include 6sense, Demandbase one, Terminus and RollWorks.
Now that you've done your research review your ABM campaigns based on your metrics and implement learnings into your next ABM cycle.
It is in this area that you can rely on SnellMedia's experience with account-based PPC marketing campaigns.
Schedule a 30 minute consultation and we can help you with both the implementation and troubleshooting of your ABM strategy based on the resulting metrics.