How to Get Account-Based Marketing Right

In the competitive world of B2B marketing, businesses need more than just broad campaigns to reach their ideal customers. That’s where account-based marketing (ABM) steps in. It’s a highly targeted marketing strategy that allows you to focus on specific, high-value accounts.

By creating personalized content and experiences tailored to the needs of each account, ABM helps marketers build stronger relationships and increase their chances of boosting conversion rates.

In this post, we’ll explore what account-based marketing is, how it differs from traditional marketing, and how to execute it effectively. We’ll also discuss the benefits, challenges, and best practices for getting ABM right.

What is Account-Based Marketing?

Account-based marketing is a targeted B2B strategy where you focus on specific high-value accounts instead of trying to attract a large number of leads. ABM treats individual accounts as markets, meaning that instead of promoting a product or service to a general audience, the marketing efforts are tailored to the unique needs, challenges, and goals of each targeted account.

This level of personalization goes beyond basic targeting and involves creating customized content, offers, and digital experiences for specific decision-makers within an organization. ABM aims to drive more significant engagement and improve the chances of converting high-value prospects into long-term customers.

ABM vs. Traditional Marketing

The primary difference between traditional marketing and account-based marketing is the scope and focus of the campaigns. Here’s a breakdown of how they differ:

• Traditional Marketing: This approach casts a wide net to generate leads through inbound strategies like content marketing, SEO, and social media. The focus is on attracting as many leads as possible, which are then nurtured through a funnel until they convert. Traditional marketing relies on reaching a broad audience and is therefore less personalized.
• Account-Based Marketing (ABM): In contrast, ABM is laser-focused on a select number of high-value accounts. Instead of reaching a large audience, ABM strategies are designed to engage specific companies or individuals. Every piece of content, every offer, and every interaction is highly personalized to address the needs of that account.

While traditional marketing is great for brand awareness and lead generation, ABM excels in driving deeper relationships with a select group of accounts that are likely to bring higher returns.

Is Account-Based Marketing Dead?

No, account-based marketing is far from dead. In fact, the global ABM market is expected to surpass $1.6 billion by 2027. With advancements in technology and data analytics, ABM has only grown in importance for B2B marketers. Tools like AI and machine learning have made it easier to gather insights about target accounts and create more personalized experiences at scale.

What has changed, however, is the way ABM is implemented. The old, manual processes have given way to automated solutions that enable marketers to personalize content and interactions across various channels. ABM has also become more integrated with inbound marketing, as companies look to combine outbound ABM efforts with inbound strategies like content marketing and social media.

Why is Account-Based Marketing Better?

Account-based marketing is often considered a more effective strategy for B2B companies for several reasons. Here are just a few you’ll want to consider:

• Higher ROI: Since ABM targets high-value accounts, companies often see a higher return on investment. Marketers are investing their resources in accounts that have a greater potential for revenue.
• Personalization: ABM allows for hyper-personalization, which means your messaging and content are more relevant and engaging to the specific needs of the account. Personalized content helps foster stronger connections and build trust.
• Integrated Sales and Marketing:Sales and marketing teams need to collaborate since they’re focused on the same accounts, ABM creates greater alignment and coordination, improving the chances of success.
• Efficient Use of Resources: Instead of wasting resources on low-quality leads, ABM allows marketers to focus on accounts that are more likely to convert. This is especially valuable for companies with longer sales cycles and higher average deal sizes.
• Better Customer Retention:Because ABM is focused on delivering value to high-priority accounts, it helps build lasting relationships. Satisfied customers are more likely to renew contracts and invest in additional services or products.

What Are the Disadvantages of Account-Based Marketing?

While ABM offers many benefits, it’s not without its challenges. Here are some potential drawbacks:

• Resource Intensive: ABM requires significant time and resources to execute properly. From researching target accounts to creating personalized content, the process can be labor-intensive. Companies need to invest in the right tools, data, and personnel to manage these campaigns effectively. 37% of marketers said it was challenging to find adequate resources for ABM efforts.
• Narrow Audience: ABM focuses on a limited number of high-value accounts, which means you’re putting all your eggs in a few baskets. If an account doesn’t convert, the effort invested may feel like a loss. For this reason, it’s essential to choose target accounts carefully and ensure they align with your business’s objectives.
• Longer Sales Cycle: Since ABM targets large accounts, the sales cycle can be longer compared to traditional marketing. Engaging multiple stakeholders and decision-makers in each account means building relationships over time, which can delay conversions.
• Requires Sales and Marketing Alignment: ABM demands tight collaboration between sales and marketing teams. If there’s misalignment, the entire strategy could fail. Companies must ensure that both teams are on the same page and work together seamlessly to see results.
• High Expectations:ABM typically targets enterprise-level clients with high expectations for personalized service and solutions. Marketers must deliver high-quality, relevant content and experiences that meet the unique needs of each account. Falling short of these expectations could damage relationships and hinder conversion efforts.

How to Get Account-Based Marketing Right: Best Practices

To execute ABM effectively, it’s essential to follow best practices that align with your target audience and business goals. Here are some steps to get started:

1. Define Your Target Accounts

The first step in any ABM strategy is identifying the high-value accounts you want to target. Work closely with your sales team to select accounts that align with your company’s goals and have the potential to bring in significant revenue. Use criteria like industry, company size, and decision-maker roles to narrow down your list.

2. Create Personalized Content

Once you’ve identified your target accounts, create content that addresses their specific needs and challenges. This could include blogs, eBooks, newsletters, and more. The key is to deliver content that feels relevant and valuable to the account.

3. Use Account-Specific Campaigns

Tailor your marketing campaigns to each account. This might involve creating targeted social media ads, developing account-specific offers, or delivering personalized webinars. The more customized your campaigns, the more likely you are to engage decision-makers within the account.

4. Align Sales and Marketing

Sales and marketing teams should share data, insights, and feedback to ensure that campaigns are aligned and progressing toward common goals. Regular meetings and shared KPIs can help keep everyone on track.

5. Measure Success

To track the success of your ABM strategy, monitor metrics like engagement rates and account-level revenue. Use these insights to optimize your campaigns and improve your ABM efforts over time.

Source: HubSpot

The most common metric for measuring ABM success is revenue won with 53% of marketers citing it as their top goal. The number of accounts won and revenue per account followed closely behind.

Take Your ABM Strategy to the Next Level with Hushly

Are you ready to create personalized, high-impact campaigns that will engage key accounts and drive revenue for your business? Hushly’s platform empowers you to execute account-based marketing with precision and scale.

Schedule a demo today and see how our tools can help you target the right accounts and boost ROI.