What is Account Based Marketing ?
Account Based Marketing is a strategy for implementing B2B marketing, mainly dedicated to strategic accounts and adapted to the needs and operating methods of each company.
This strategy has proven to be effective and efficient in several areas such as :
– Rapid income generation, thanks to an analysis of your target market to identify customers and prospects.
– Identifying key contacts within target accounts
– Creating a long-term relationship of trust with your key accounts through highly personalised marketing campaigns with regular communication.
– Good communication between the marketing and sales departments to enables consistent communication to the customer
Before you start, what do you need to do ?
First of all, you have to talk to your sales team as well as your marketing team. Explain the benefits of the change, for example, the higher closing rate or even the larger contracts. And above all, make sure that there is a good entente between these two teams so that their collaboration works.
Ask yourself the right questions :
– Does the marketing team have the right Marketing Relationship Plan to run campaigns and increase the number of potential leads ?
– Does your sales team have enough accounts to meet their targets and increase the number of deals they sign ?
– Does your sales force feel that they have good visibility into the marketing activities that have been completed for the prospects they are about to contact ?
Why is this strategy important to your business ?
This strategy is different from traditional marketing. Rather than spending money on media to try to reach as many people as possible with no guarantee of return on investment, this strategy allows you to just contact the accounts that are valuable to your business and potentially already interested in your product or service. This saves money and generates more revenue.
This strategy also makes for a more practical and enjoyable plan of action for your marketing team. Indeed, your business stays focused on the high-potential accounts that are already interested in you. As a result, the work of your marketing team is easier because the target is smaller and the communication plan will be more personalised and therefore more effective.
This strategy is effective for both your marketing team and your sales team.
Your sales team, which is responsible for dealing with the most enthusiastic leads, is left with less work. Indeed, the people who need to be contacted already have an interest in the brand, contact is easier because you have better arguments and there is a better reactivity because there are fewer people to follow up.
Finally, it optimises the costs incurred by the company because there is regular monitoring and analysis and the sales team can provide feedback based on customer feedback.
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