In a marketing environment ruled by data acquisition and content engagement, generating ROI from targeted marketing campaigns may feel like an impossible task. How could you possibly compete with the thousands of competitive solutions and publications already vying for your buyer’s attention? Account-based marketing (ABM) was supposed to fix this problem, yet it remains a problematic solution for some. If your campaigns are missing the mark and aren’t generating enough revenue opportunities, there are four factors you should consider when fine-tuning your ABM strategy.
Success in ABM campaigns usually boils down to one simple phrase “knowing your buyer.” This may seem obvious, but it’s worth delving into just how much you actually have to know about your buyer in the current digital marketing environment. What used to feel like a simple task of gathering company information has now evolved into acquiring intimate knowledge of “likes” and “dislikes” for individuals.
In this podcast by Spotio, their CEO discusses just how important data accuracy is in sales and marketing, with a particular emphasis on the usability of the data. When building marketing campaigns, especially ABM campaigns, it’s crucial to have data relevant to the story you’re telling as a product or brand.
Does the fact that your target account raised $45M in Series C funding matter to the story you’re telling? Another question to consider is: can you even craft a narrative around the data you have?
Acquiring accurate data points and knowing how to leverage them is key to generating leads and eventual revenue.
A hot topic in the sales and martech space right now is personalization in outreach. Considering the overwhelming amount of content thrown at your buyers on a daily basis, it’s worth your time to personalize your marketing campaigns to their specific needs. But how?
One place to start is understanding who you’re addressing in your ABM campaigns. Is it one-to-one, one-to-few, or one-to-many? Uberflip does a great job of explaining how to approach this mindset, detailing the different levels of personalization applied to each approach. Identifying the end goal of your campaign helps you pinpoint the amount of personalization needed. If you want to generate leads from a targeted account list, one-to-many might be the right approach.
Regardless of how you approach personalization, you’ll want to be able to answer these three questions for every campaign:
- Why would my buyer make a purchase?
- What helps them make decisions?
- Where/how does my buyer gather their information?
If you can answer each of these, chances are you can build a solid story around your products and solutions to help guide your prospects towards a purchase.
The phrase “don’t put all your eggs in one basket” might be a cliché, but that doesn’t make it any less true. If you’re a digital marketer, you’re more than likely used to driving leads from multiple sources online. However, when it comes to ABM, we tend to stick to what we know, refusing to branch out, without even realizing it. Think about it this way: How many times have you created a campaign that involves more than 3-4 steps of engagement?
It’s common practice to build ABM campaigns that can scale and be easily implemented, but if your cross-functionality prevents you from meeting your buyers at different points in the decision-making process—is it really worth it?
Some great channels to consider for your programs are:
- Custom content marketing
- Video advertising
- Sponsored content
- Social media interactions
- Content Syndication
Sales and Marketing Alignment
The final piece to the ABM ROI puzzle, unsurprisingly, sits with aligning both the sales and marketing teams. As a marketer, you probably already know why you need the sales team to be bought into what you’re doing. Do the sales leaders and reps really know why your upcoming campaign is so important though?
In a recent benchmark study, DemandScience found that 58% of marketing leaders claim marketing provides higher-quality leads…but only 14% of sales leaders agree. This might be the biggest point of contention. Salespeople tend to be disconnected from your marketing efforts and successes, resulting in a lack of awareness of marketing contribution to revenue goals. As a demand generation marketer, it’s your job to get them on your side.
According to Vende Digital, here are some ways to approach this…
- Having sales share content
- Connecting with MQLs
- Answer questions
- Contribute to the identification of prospect needs
Without even realizing it, you may be limiting your reach with your ABM campaigns, which is why they aren’t hitting the mark. By adapting these strategies and taking an “expansion” mindset, you’ll be able to develop a scalable process to ensure you’re maximizing all interactions with targeted accounts.
Interested in expanding your ABM reach and generating high-quality leads? Take a look at our PureABM solution, an identity approach to Account-Based Marketing, designed to engage your priority accounts.
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