Why Account-Based Marketing Is the Right Choice for B2B Businesses?

The world of B2B business has two types of clients. The first set has low risk and rewards clients that contribute less to your revenue. Meanwhile, the second one has high risk and rewards clients that significantly contribute to your business.

The second set will be willing to put more money on the table for your services. Working with them will ensure that your business is profitable and is not in survival mode. But getting them on board will be challenging until you opt for account-based marketing.

This article shows you how account-based marketing is suitable to scale your business to new heights.

What is account-based marketing? 

Account-based marketing strategy involves targeting a specific set of prospects within a market segment. Marketers then use personalized messaging that closely targets each prospective account. The messaging has targeted attributes and solutions tailored to the problems faced by prospects.

It goes much beyond a lead generation mechanism and encompasses varied aspects of marketing. Upselling and cross-selling are vital aspects of account-based marketing. When you already have a successful association with a client, it is best to offer them other services that cater to their needs.

What are the elements of account-based marketing that B2B businesses need to consider? 

There are three main elements of account-based marketing. Let us take a look at each of them in detail.

  • Targeting and managing the best accounts

ABM allows you to leverage technology to target accounts with the best chances of conversions and bring the best ROI. You can have a centralized approach to account targeting and management. You can target prospects based on several parameters that are of importance to your business. Some of them include quick wins, high returns, competitors, strategic importance, etc.

  • Offering multi-platform engagement

ABM gives you a platform from where you can run personalized campaigns across channels. There is no need to spend time managing them individually. A cross-channel campaign helps target your prospects better without losing precious time.

  • Optimizing outreach efforts

Like any other strategy, ABM needs to be measurable so that you can evaluate it and make adjustments for betterment. When you look at the account-specific outreach measures, calculate how effective they were. What worked for other accounts may not necessarily work for others. So, customization can help in this aspect.

What challenges does account-based marketing solve for B2B businesses? 

Here is a list of challenges that account-based marketing helps solve for B2B businesses.

  • Gives a clear view of ROI

ABM prioritizes ROI and gives a comprehensive picture to measure marketing effectiveness. According to research, 87% of marketers agreed that ABM provides higher ROI than any other marketing means. You can see in action the numbers you have projected for revenues.

  • Optimizes budget spending

ABM takes a highly targeted approach where companies know how much they are spending behind each account. It is much better than traditional marketing, where a business can often go overboard with spending without getting tangible results. ABM tools also make it possible to understand which target accounts visited your website.

  • Makes outreach analysis easier

It is easier to gauge the effectiveness of your outreach measures as you have fewer accounts to manage. The data will offer insights that make it much better to understand your prospects and refine the approach.

  • Improves engagement with prospects

Personalized messaging in ABM makes it irresistible for your prospects to not interact with you. When you offer tailored solutions that solve your prospects’ problems, they will trust you more.

  • Brings together sales and marketing teams

Most often, sales and marketing teams do not sync with each other. ABM brings them on the same page. It gives sales and marketing teams the common mindset they need to target and close accounts better. ABM tools also help both teams track and manage leads already in the pipeline.

Bottom line

ABM is a definitive strategy for B2B businesses looking to increase their revenue. It allows for laser-targeted prospecting and access to information that makes it easier to win accounts that improve your bottom line. ABM also shows that you are genuinely trying to solve the problems faced by your prospects, leading to better credibility.

Looking for an account-based marketing agency? An account-based marketing consulting agency like Sonder Digital can help. Contact us today to know more details about our ABM services.