Account Based Marketing – A Trend to Follow in 2021
YRSK | Published: 17-02-21
Companies that offer personalized experiences are more preferred today by customers than earlier when marketing was to create content to appeal to a large demography. Generating leads and materializing them depended on marketing and sales teams, where most leads did not convert showing that they do not buy; instead accounts do. Hence, account based marketing (ABM) is a solution for B2B companies, which have to think and act quickly to be at the creative best.
Know What is Account Based Marketing (ABM)
A marketing strategy, an account based marketing is all about identifying high-value accounts that create personalized buying experiences by associating the marketing and sales teams. In the process, you comb the less-valuable companies out and target high-value accounts customizing campaigns, content and communications and personalize the buyer experiences to attain higher return on investment (ROI).
Why Should You Follow Account Based Marketing in 2021?
Marketing, in 2021, has to be tailored to be specific and concentrate on the leads that convert. With ABM, you can launch personalized, as well as result-oriented campaigns. Here are some important reasons why you should follow ABM in 2021.
- Aligns Marketing and Sales
Improved communication, as well as cross-team collaboration, is essential for growth. The account-based marketing helps achieve this, bringing together sales and marketing teams with a focus on the same goal and an understanding of internal stakeholders’ particular roles at a commonly-agreed budget. The collaboration also ensures the consistency on communications, content and interactions with the accounts both the teams are working with to enable any members pick up from where the other members left off. With this, you create a pleasant, enjoyable and seamless customer experience.
- Sales Cycle is Shortened
The sales process in the B2B business is typically slow for there are several stakeholders involved in making purchase decisions and therefore, not all B2B leads generated result in sales. With ABM, it does not happen much for you target only those businesses who are interested in your brand, product or service.
- No Time or Resources Wasted
Your time and resources are spent on those accounts that are most likely to materialize and as a result, you save on those you have wasted earlier. Your sales team need not spend time focusing on low-value prospects.
- Generates Higher ROI
Among several marketing strategies, the account-based marketing strategy has shown delivering higher returns according to 85 percent marketers. Other than this, it is easy to find from where the sales come from as you are concentrating on customers with whom you already are dealing with.
- Deliver Consistent Experiences
With ABM being a lengthy process, it offers consistent experiences for high-value customers. Your sales team needs to put good efforts to have a long-term satisfaction and delight among your accounts. This helps each account think they are a part of your business’ market and not to stop doing business with you for the delightsome experience they receive.