Okay — you’ve started considering account-based marketing for your business. You’ve read the benchmark research, and you’ve scanned article after article about how ABM is the hottest thing since.. well, you know. You’ve been on LinkedIn, Twitter, and Facebook. You’ve got the idea.
Now you’re wondering, ‘What’s next? Isn’t targeting specific accounts really, really expensive compared to traditional demand generation tactics? Can I even afford to make the move to account-based?’
In response to that, we’re here to tell you that it’s all about perspective and strategy. Changing your focus so that you see the bigger picture — and the end result — can offer you and your team the peace of mind you all need to start making moves to open the door to more marketing (and business) possibilities. And developing a solid plan behind that new perspective will get you started on the right foot. Here are four big reasons for you to get over your ABM fears and start targeting those top-tier accounts.
1. You’ll see more wins.
BrightFunnel’s research shows that for those who segmented prospects into target and non-target accounts, the target accounts saw 15% higher win rates. (BrightFunnel, 2016). If you’re more focused on who and where your targets are, what they want, and how they want it, you’ll be better equipped to succeed. Sure, it takes more resources to gain that focus — but the odds are in your favor in the long run.
2. Knowing where to start has never been easier.
By measuring the performance of past campaigns, you can see where you’ve made the most impact — across titles, regions, product lines, channels, and beyond. You can build out your target account profile based on what has worked well for your business in the past, effectively setting yourself up to see more immediate success with ABM. Once you’ve decided who to target, look at your historical data to identify the marketing tactics that have resonated the most. Start here and you’ll already be on the right track.
3. You’ll give Marketing and Sales the chance to work more closely together.
The practice of targeting accounts requires a unified effort between Sales and Marketing. Each team depends on the other for assistance and backup — Marketing has to pique interest, educate, and deliver targeted messaging, while Sales has to pick up and continue the conversation wherever things are left off. In order for this to happen, there needs to be more communication and alignment. And while it may be notoriously difficult for the two teams to find these things, it’s not anywhere near impossible! By relying on hard data and measuring the impact of each team’s efforts across accounts, Marketing and Sales can locate common ground, work better together as they tag-team targets, and close more deals in the end.
4. Modern ABM solutions help you target smarter.
Drill down into accounts to see which tactics are working and which titles are engaged. Get a holistic view of all the contacts and leads at a target account who have interacted with any of your campaigns. Take what you learn from that data and easily alter your strategy and tactics as needed in order to see more success. Monitor campaign effectiveness at the account level, and make more intelligent decisions about where to invest in the future.
If you’re at least thinking about how to go account-based, you’re already off to a great start. Actually taking the leap to get started with targeting can be daunting, but there are plenty of reasons to do it, and plenty of ways to go about it intelligently. If you’ve done your homework and have the means to measure everything, then you have nothing to worry about when it comes to kicking off with an ABM game plan.
To read more about the status of ABM, be sure to check out the full Benchmark Insights report.