benefits of account-based marketing

9 Benefits Of Account-Based Marketing

Account-based marketing (ABM) is a highly effective strategy in the B2B world. That said, it’s typically a departure from how most B2B companies approach their business. With that in mind, today we dive into the most important benefits of account-based marketing.

If you are considering AMB, it can be difficult to understand what you have to gain from this marketing style. Check out the list below for some reasons why you should at least consider it.

9 Benefits Of Account-Based Marketing

1) More Efficient Use of Resources

Every organization has limitations. This can mean limited team members, limited skills, or simply limited time. Running a successful B2B company is less about gathering new resources, and more about optimizing the ones that you have. That’s why account-based marketing is so powerful. By narrowing your focus, you dedicate most of your time and attention to accounts that show the most potential. Consider this the “80/20 rule” in action. By focusing on these prime targets, everything you do is more successful as a result.

2) Higher ROI And Conversion Rates

When you tailor your marketing efforts to more specific prospects, you get better results. This is true regardless of the channel. From more personalized emails to ads that speak directly to your audience, specificity is what gets people to buy. This is one of the key benefits of account-based marketing. By focusing on a few accounts, you are able to craft a message that resonates with your audience. The result? A higher ROI on your marketing budget and better conversion rates across the board.

3) Stronger Alignment Between Sales And Marketing

We’ve all heard it before: sales and marketing teams have a tendency to “work in silos.” Unfortunately, for many organizations, it’s completely true. This can (and often does) result in miscommunication and missed opportunities. With account-based marketing, though, this misalignment becomes less of a problem. Because ABM requires close and consistent collaboration between marketers and salespeople, those two teams work in closer alignment. This avoids many of the problems you see with the more “siloed” way of working.

4) Personalization At Scale 

The B2B world has plenty of competition. If you want to break through the noise and stand out, personalization is key. While this is possible at a very small scale (think merge tags in your marketing emails), ABM takes it several steps further. Pursue just a few types of accounts, and you are able to customize your messaging based on a  number of highly specific data points: an account’s specific goals, their unique challenges, and the account’s overall organizational structure. This is personalization that makes a sale the natural end result.

5) Shorter Sales Cycles 

Generally speaking, B2B sales cycles are long and complex. That’s because they typically involve multiple stakeholders from different departments and surround expensive products or services. Done right, ABM can shorten this cycle. By focusing on key decision-makers and delivering valuable content to them, you are able to expedite the process. ABM lets you work in a more targeted way, and you are able to close sales quicker than you otherwise would. 

6) Enhanced Customer Experience

Following our last point, another key benefit of account-based marketing is the quality of the customer experience. We’ve all been treated like a number. While this isn’t exactly unexpected (sometimes a customer just doesn’t care), B2B is different. With the number of options out there, B2B buyers have come to expect a certain level of personalization and understanding. ABM makes this possible. By providing information and offers that are highly relevant to an account’s needs, you are able to deliver a better customer experience. This naturally results in more consistent sales. 

7) Clearer Measurement Of Success 

If you don’t track it, you can’t improve it. This is true in just about every area of life, and business is no different. Unfortunately, traditional tracking often lacks the depth required to deliver real results. For example, the number of website visits and email open rates are indeed important (and most companies track them) – but they’re not necessarily a good indication of overall success. ABM changes this. Because this type of marketing zeroes in on metrics tied to specific accounts, you have a more nuanced view of actual results. This naturally leads to a clearer understanding of your overall success.

8) Better Insight Into Account Needs

ABM requires detailed account research. Typically, a B2B company implementing it will focus on just a few types of accounts. In doing this, they will go deep into that account’s business model, pain points, and wider long term goals. This gives them a better understanding of what that account needs. This is one of the biggest benefits of account-based marketing. By narrowing your focus, you understand an account with much more depth – and the quality of your offer improves as a result.

9) Stronger Focus On Long-Term Value

Every company wants a high average customer value. Indeed, this is one of the most essential indications of a thriving business. However, for an account to prove truly valuable, it’s usually important for the partnership to be a bit longer. With ABM, it usually is. By focusing on specific accounts, a B2B company is able to think about the entire account lifecycle, from the initial sale to various upsells that can be offered. This not only increases the value given to the client, but increases the amount of money that can be made.

Are you an enterprise, nonprofit or small business looking for help on your website? Give us a shout! We provide a free consultation. Email us at info@lughstudio.com or call us at (718) 855-1919!

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