If your company relies on B2B marketing, but the efforts you’ve put behind strategies like inbound and outbound marketing don’t seem to align with sales goals, maybe it’s time to try something new.
Account-Based Marketing hones in on the most profitable targets, drives clearer results, helps significantly with scale, and can save on time and resources.
According to statistics, 60% of B2B marketers have already implemented Account-Based Marketing. If you still need some convincing, here are 10 Account-Based Marketing benefits to help you take the next step.
Benefits of Account Based Marketing
1. Defines Your Target Audience
The first step of any marketing campaign is to define a target audience. However, with account-based marketing, this process is made simpler. Rather than marketing to a broad audience, ABM treats each account as its own market.
With inbound marketing, you often cast a net too large to increase ROI. For B2B marketers, this strategy can lead to inefficiency. When you implement ABM, you’re seeking the accounts that fit your desired target. This means you can guarantee a good match.
The good news is, it doesn’t have to be a long process to construct your target profile. Instead, utilize automation services for your target analysis.
2. Ensure Customer Retention
If you struggle to convert your prospecting efforts into customer retention, you’re not alone. With less personalized marketing strategies, you might succeed in getting the attention of a large audience. However, a small percentage of that audience will become lasting accounts.
That’s why marketers have started switching to ABM. The results speak for themselves.
Research shows that 84% of marketers using account-based marketing have seen improvement in customer retention.
3. Connect Marketing and Sales
When a company is more aligned internally, the customer is more satisfied. ABM focuses on individual accounts which means that sales and marketing are working toward the same thing, securing the account.
When these teams have a common goal, other things will fall into place such as budget and customer experience.
4. Streamline Prospecting
If you’ve ever felt like your prospecting efforts often result in wasted resources, ABM can streamline this process. When targeting is highly specific, you build a blueprint for your customer before you send them the pitch.
That means when it comes to constructing the message, the more personalized the better. In fact, sources report that 61% of consumers prefer personalized experiences.
5. Build Lasting Relationships
When you put long-term effort into personalizing your message to each account, the payoff will be apparent. At this point, you’ve taken time to acquire the account, which means your internal team will be more invested in maintaining that relationship.
As a result, the customer will feel valued. This builds trust and loyalty which will likely keep your accounts satisfied in the long-term.
6. Present Reliable Analytics
With more personalized targeting and fewer accounts to track, your efforts are easier to measure. Every step of the process can be directly attributed to the goal. Therefore, metrics become easier to analyze.
When you know each account in-depth, you know what metrics are most likely to indicate success. So instead of playing the guessing game, present your analytics firmly and attribute them directly to time and resources spent.
Unlike other marketing strategies, ABM allows you to measure every aspect of your marketing campaigns.
As a result, goal setting becomes something you can do with confidence. Reliable analytics leads to attainable goals.
7. Boost ROI
It makes sense that 97% of marketers are achieving higher ROI with ABM when you think about the process. With a precise target, more of the resources from sales and marketing are being funneled into the customer experience.
Additionally, ABM focuses on high-value accounts which means increased ROI will be stable and far-reaching.
8. Build Credibility
By knowing your accounts intimately, rather than lumping them together with the others, customers will be more inclined to trust your expertise. Implementing ABM will push you to identify individual pain points for each account.
When you do this, the solution is no longer one-size-fits-all. Customers will trust that their account is top of mind. This credibility will help you stand out in a sea of marketers.
9. Plan Long-Term Goals
With reliable analytics, strong credibility, and a team that’s aligned, it’s easier to set and reach goals. ABM helps you plan for future growth by identifying leads that are right for you.
Budgets can be reduced and scale can accurately be planned. With ABM, you can tell exactly how much it’s going to cost to acquire a client. Rather than spending through the budget on lead generation, with no guarantee it will result in a customer, spend your money efficiently, and plan scale with resources in mind.
10. Shorten Your Sales Cycle
With more guarantee that prospected accounts will become customers, you can ultimately shorten your sales cycle. Although building relationships with accounts will take more time with ABM, you are able to cut way back on initial prospecting efforts by weeding out all unqualified leads.
Don’t worry, once you start implementing ABM, the process will continue to get smoother. Follow best practices to ensure that you see initial success.
Start Seeing Account-Based Marketing Benefits Today!
We hope these account-based marketing benefits have got you interested in how ABM can grow your business.
Now that you know all the ways that ABM can benefit your marketing efforts, it’s time to get to work. We at, Zelite solutions can help to help you streamline the process, or contact us today to learn more.