Account-based marketing, also known as “ABM”, is a powerful up and coming strategy in the B2B marketing world.
Rather than your typical inbound marketing tactic, ABM is more of a personalized approach.
It is designed so that you can specifically reach those big decision-makers in your specific industry.
By adopting the ways of ABM, you’re able to customize your messaging and content deliverables. This is effective in communicating with a smaller yet more impactful group of potential customers.
While it shouldn’t necessarily dethrone your current inbound marketing practices, we do recommend using ABM to leverage your overall digital marketing strategy. By utilizing the benefits of everyday lead generation then compounding it with marketing to your existing customer accounts, you’re able to encourage cross-selling. This is key to getting the most value from your largest accounts increasing the chances that those loyal customers will renew their contract with your Oil & Gas company, year after year.
In today’s RIG94 lab, you’re going to learn how to create a successful ABM strategy. We will also teach you how to unify your account-based marketing efforts altogether as one revenue booming business in the Oil & Gas industry.
What is ABM?
Account-based marketing is a powerful yet little-known marketing strategy that focuses its sales and marketing resources on targeted accounts versus individuals, within a specific market or industry through tailored campaigns.
Who uses ABM?
Most commonly, you’ll see more B2B marketers utilizing account-based marketing. These marketers find themselves targeting higher-value accounts or enterprises. These accounts and enterprises are often looking for longer-term sales cycles and renewable contracts.
However, it’s becoming increasingly popular to see operations of any size tapping into the benefits of ABM. That’s because, no matter how big or small your company is, when you personalize your marketing efforts, you’re able to better connect with your potential sales leads.
4 Reasons why ABM works:
1. With ABM, both sales and marketing are aligned.
This is often a huge divide. Your marketing team knows exactly who they’re marketing to. The sales team lands the leads they’re hoping for. All hands on deck are working towards the same goal, targeting specific accounts and generating revenue.
2. ABM generates quality leads
This is because that potential customer is more likely to have coworkers and peers within their company who want to hear from you. This allows your sales guys to cut back on the time they spend hunting down leads. No more time wasted on leads won’t become customers. ABM allows you to spend more time preparing for the ones that will.
3. ABM is the king of simplifying ROI results.
Through account-based marketing, you’re able to see exactly where your marketing dollars are going. You can also easily visualize the amount of money you’re looking to gain at the end of the campaign. This promotes clear and specific ROI results. When you’re breaking down the results of your marketing campaigns, it’s easier to see what worked and what didn’t. This is because you’re looking at a smaller target audience.
4. Focusing On Specific Goals
Your ABM content plan focuses on the specific goals you’re looking to reach with each targeted organization. You’re able to create personalized messaging towards these accounts with tailored creative assets. The goal is to meet the customer’s specific interests and needs. In turn, this creates a higher chance of engagement and better results.
These days, customers see right through “salesy” tactics. It’s crucial that your marketing content provides value. Simply pushing products every time they see or hear about your business is less effective. Customize and tailor your content through account-based marketing to show how valuable your company can be when it comes to solving your customer’s biggest needs.
Through ABM, you’re able to maximize your efforts to convert more sales leads. Take the time to get to know the wants and needs of each account so that you can better demonstrate how your company can help.
Interested in learning how to get started with account-based marketing for your business? Let’s chat!