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Various marketing techniques come to the fore here, the aim of which can be both to attract new customers and to take care of those you already have. They can be differentiated into many categories, such as the target group, for example. One of the marketing methods that is based on different target groups is Account Based Marketing. Read this article and find out what makes it stand out, how to run it and what benefits it can bring for your business!
What is Account Based Marketing?
In some cases, profiling is more effective than spray and pray marketing ("send and pray", a tactic based on sending marketing content to more people and counting that a small number of them will be tempted by our product). This is due to the simple fact that by adjusting the message to the needs and perceptual abilities of a known and defined recipient, we have the opportunity to create a better impression and use more effective persuasion. But how do you find out about your customers? If you already have them, it shouldn't be a big problem - your company probably has a department that works and collects customer data, so this should be the first place you go after reading this article. If you have CRM, you can get really important information about your customers from it. Thanks to it, you will be able to organize customer data, make certain forecasts and - most importantly in the context of ABM - select appropriate subgroups of contractors.
How to run Account Based Marketing?
In order to effectively conduct Account Based Marketing, it is not enough just to write dozens of versions of the same message. It would be too good to be true. Nowadays, when the market is regularly flooded with novelties, in order to convince customers, one should in any way offer them something that they do not have so far, and that will satisfy their needs. And when you already have these customers, you should take care of them so that they do not leave the competition. Below are some tips that will help your company implement effective Account Based Marketing. Pay attention to them in order to fully use the potential of this method:
- Customer segmentation
- use message profiling
- differentiate communication channels
- highlight your target groups
A topic related to message profiling is the differentiation of communication channels. Depending on the target group, these can be completely different media, from a simple e-mail to social media or even text messages. Everything is aimed at adjusting to the recipient's expectations to increase the chances that they will take a moment to read your message. And the more personalized it is, the greater the chance that it will be effective.
The final tip for using Account Based Marketing efficiently is to differentiate your target audience. You can already guess why this is so important - you need to realize that not all people in the world will be interested in your product or service. For this reason, it is worth taking the time to select the groups (accounts) that you find most promising. No wonder it's easy to use this strategy to care for your existing customers. A wide database of information about them will allow you to easily adapt your message to their expectations.
What are the benefits of Account Based Marketing?
Another advantage of effective ABM is the saving of resources - time and energy. Adjusting the message to a narrow group of recipients does not require a lot of work, and high conversion contributes to achieving good results by ABM.
Thanks to ABM, you do not have to invest in the services of intermediaries who will take the sale of your product or service on their shoulders. Reaching a customer who already knows your company and trusts it helps you save money and - more importantly - the time needed to complete the purchase.
ABM is not all roses either.
Like any solution, ABM also has its drawbacks. Focusing on the expectations of narrow groups of contractors may not bring the expected effect (customers not interested in placing another order at a given moment, market saturation or a decrease in customer confidence), which will result in wasting the company's resources. Another risk that the relationship with existing clients may be in the foreground may be the neglect of soliciting new ones. Another risk of ABM is its inappropriate execution (lack of precise knowledge about the accounts, incorrect division, too high expectations). In a word, ABM is not a tool that will 100% guarantee your company the multiplication of profits - it requires reflection, careful preparation and effective implementation. Only in this way will it bring the desired effect.
Summary
Account Based Marketing is a commercial strategy based on reaching narrow groups of customers, the so-called cont. In order to gain their attention, a profiled message is used, tailored to the expectations of a given recipient. Its main goal is to take care of contractors who have already trusted your company, but this tactic can also be used to acquire new customers. The measurable benefits of ABM are the reduction of resources needed to conduct marketing, higher conversion, increased customer loyalty and shortening the duration of the sales process.There are many tools you can use to successfully conduct Account Based Marketing. However, only some of them allow you to organize everything in one place. HubSpot is a software that combines the features of a traditional CRM system, but has additional modules, such as a social media monitoring module or e-mail marketing. Perfect for both corporations and smaller companies.