It’s 2020, and you need to delineate your ABM strategy and optimize it.
66% marketers are using Account-Based Marketing i.e. ABM strategy in 2020, 68% are using video marketing and 60% are using an on-demand content strategy – at least according to the 2019 State of IT Marketing report by Spiceworks.
This doesn’t come as a surprise as ABM is the future of B2B.
ABM strategy in 2020 is all about aligning organizational groups together to build customer relationships and growth while maximizing customer lifetime value (CLV).
In a comment made by Audit Vikram, SVP of Audience Solutions for Dun & Bradstreet, he said that as more B2B organizations start turning to ABM, they will be able to better address the complex customer journeys and processes.
Ways to Optimize ABM Strategy
ABM has become a necessity in the B2B marketing space and an increasing number of organizations are embracing an all-encompassing ABM strategy in 2020.
With the ABM strategy constantly evolving, it becomes mission-critical to understand the importance of ABM – to optimize it and win over more high-value accounts in 2020.
Thefollowing are some ways to optimize your ABM strategy in 2020:
1. Personalizing your communications
When implementing an ABM strategy, you must create personalized marketing experiences by developing finely-tuned content that entices, informs, and inspires the key decision-makers to move swiftly through the sales cycles and expedites the conversions.
2. Efficiently using marketing resources
ABM helps you in structuring and targeting your marketing efforts and resources to the key accounts that drive the maximum revenue. ABM also optimizes your most valuable resources; staff, time, and money.
3. Defining ROI
As per a survey conducted by the Information Technology Services Marketing Association, 84% of businesses claim that ABM delivers higher ROI than other types of marketing.
Through ABM, both ROI and the areas that need improvement can be reviewed based on how the contacts respond to your content.
4. Enhancing tracking capabilities
ROI is critical when reviewing your bottom line; however, equally critical is to report the strategies that contribute or fail to contribute to that ROI.
Once the effectiveness of each individual component of your ABM strategy is known, much more effective campaigns can be built in the future by learning from it.
5. Closer sales and marketing alignment
In order to implement a true ABM plan, it is vital that sales and marketing teams should not function in individual silos.
They need to work closely so as to identify target accounts, develop an effective communication strategy with great outreach tactics, and even to monitor the continuous progress of the campaign. ABM unites the two teams and keeps them working together.
If you are considering ABM, then you must have accumulated a lot of internal data about your customer base and leverage it for better targeting of the high-value accounts.
The next step is to find the best business intelligence partner for the 1st-party customer data you have. Using this third-party data, you can build a fuller pipeline and have deeper account relationships that result in a greater ROI.
20% of your total marketing budget should be allocated to sophisticated data and business intelligence tools. In the absence of third-party data, you will end up losing advantage point and all your sales efforts just turn into gambling.
With the help of Valasys’ ABM services, you can rest assured that you will end up with lesser waste and lesser risk. We specialize in lead generation, inbound marketing, and ABM and build programs that attract, acquire, qualify, and nurture leads to high converting opportunities.
Partnering with us will give you the advantage of third-party data and business intelligence tools to develop better quality leads that optimize your bottom line conversions with greater precision. You will also be able to capture a greater market share as you gain a competitive edge.