Everything You Need to Know About Account-Based Marketing
Although account-based marketing (ABM) first began attracting attention in 2013, back then, very few companies had actually adopted this emerging approach. Very few CMOs – if any – had converted their company’s entire focus to ABM.
Fast forward to present day and ABM is constantly finding new devotees.
At Hushly, we’ve helped a number of clients use ABM to skyrocket their results like never before.
Still, if you’re unsure about this approach, we’ve put together a complete beginner’s guide you can download for absolutely free.
3 Reasons Account-Based Marketing Is Becoming the Standard for B2B Companies
Understandably, adopting account-based marketing is a big step for most B2B companies, even those that opt for a slower transition period.
Why, then, have so many of them done it?
While there could be any number of reasons, three keep coming up that explain ABM’s incredible increase in popularity over the past few years.
1. Account for the Growing Number of Decision-Makers
Assuming you’re not already taking an ABM approach at your B2B company, you may have noticed a drop in engagement and conversions over the years. One reason for that could be that your buyer’s journey is no longer accurate.
If that rings true, you’re not alone.
Many B2B companies have had to adjust to the fact that the number of decision-makers required to sign off on a purchase continues to grow. On average, 6.8 people must sign off on a purchasing decision before a company will move forward.
But, if your B2B company is like most, its buyer’s journey wasn’t designed with that number in mind.
With ABM, you can factor in everyone who will need to be sold on your company right from the beginning of your funnel.
2. Finetune Your Marketing Efforts with Ease
Speaking of your funnel, ABM is the best approach for constantly improving its effectiveness. With each acquisition, you’ll have a better understanding of what changes you can make to secure even more clients in the future.
Again, let’s look at the traditional lead generation funnel that most B2B companies use, whereby they try cramming the top of it with as many leads as possible.
It’s harder to finetune this kind of marketing mechanism for a couple of reasons.
The first is simply that when you’re playing the numbers game, it’s nearly impossible to ensure lead quality remains high. Not only is that bad for your overhead, but it also makes judging the effectiveness of your funnel a challenge because, by definition, most of those companies weren’t supposed to convert anyway.
Secondly, any companies a lackluster funnel does convert might turn out to be poor clients. Even if they turn out to be ideal, improving your funnel will remain difficult if you’re struggling to reconcile lead-quality and conversion rates.
ABM clears up all of this. As you’re targeting a specific company, there is no numbers game. So, no matter what the outcome, you should have no problem looking back and finding where improvements can be made.
3. Massively Increase ROI
While all the other benefits of ABM are fantastic, at the end of the day, if this strategy wasn’t increasing B2B companies’ ROIs dramatically, there wouldn’t be so many marketers swearing by it.
Better still, these increases aren’t isolated incidents.
When surveyed, 87% of ABM marketers reported that the approach outperformed other options they had tried in the past.
As we just talked about, these increased ROIs are also coming with increased clarity about how they occurred. Therefore, B2B companies using account-based marketing also benefit from greater alignment between their sales and marketing teams.
However, it’s important to point out that ABM often achieves greater ROI simply by cutting out so much overhead. Canceling the numbers game means using your budget better.
Power Your Account-Based Marketing Approach with a Powerful CRO Tool
Obviously, account-based marketing has plenty to offer your B2B company.
However, this post was just a small summary of all the benefits you’ll enjoy with an ABM approach.
We’ve actually put together an entire guide that covers how ABM can be used to not just convert new leads but also improve the lifetime value of preexisting clients.
The eBook delves into these important topics, too:
- Account Selection
- Goal Setting
- Lead Conversion
- Content Engagement
- Data Quality
- Measurements of Success
Best of all, the entire guide – everything you need to know about ABM – is free. Download your copy today and you’ll soon be an expert on all that account-based marketing has to offer.