If you're a B2B brand looking to make a splash in your industry, account-based marketing (ABM) is an approach that you can't afford to overlook. Unlike traditional B2B marketing, which casts a wide net in the hopes of attracting as many leads as possible, ABM takes a targeted, personalised approach to reaching the right decision-makers at the right companies.
The result is a more efficient, effective marketing strategy that can help you grow your business faster and smarter. However, getting started with ABM can be a bit intimidating, especially if you're not familiar with the ins and outs of the approach. That's why we've put together this step-by-step guide to help you get up to speed.
Step 1: Define Your Target Accounts
Before you can start any ABM campaign, you need to know who you're trying to reach. This means taking a close look at your ideal customer profile and identifying the companies that fit that profile. Consider factors like company size, location, industry, and decision-maker job titles as you build your list of target accounts.
For example: As an alternate provider for bank guarantees in Australia, you might want to consider the following types of accounts:
- Small and medium-sized businesses - many small and medium-sized businesses may not have access to traditional bank guarantees, making them ideal candidates for your alternative solutions.
- Construction companies - construction companies are often required to provide bank guarantees for projects, and your services could offer a more flexible, cost-effective alternative.
- Real estate developers - real estate developers may also be in need of bank guarantees and could benefit from your alternative solutions.
- Import/Export businesses - businesses involved in import/export may be required to provide bank guarantees, and your services could help them obtain the necessary guarantees more easily and cost-effectively.
- Service-based businesses - service-based businesses that require bank guarantees for contracts or other obligations could benefit from your alternative solutions.
- Government agencies - government agencies may also be in need of bank guarantees for various projects, and your services could offer a more accessible alternative.
- Suppliers and subcontractors - suppliers and subcontractors involved in large-scale projects may be required to provide bank guarantees, and your services could help them obtain the guarantees they need more easily.
Step 2: Create a Customised Outreach Plan
Once you know who you're targeting, it's time to start thinking about how you're going to reach them. This is where ABM really shines, as it allows you to get creative and personalise your outreach efforts for each target account. Some common ABM tactics include direct mail, email campaigns, webinars, and face-to-face events.
F`or example: a customised outreach plan targetting banks and financial institutions:
- Research: Start by researching the specific banks and financial institutions you want to target. Look at their products, services, and customers to get a better understanding of their needs and pain points.
- List building: Build a list of key decision-makers and influencers within each target bank or financial institution. This can include C-level executives, heads of departments, and other relevant stakeholders.
- Personalization: Customise your outreach approach for each target bank or financial institution. Identify their specific needs and pain points, and tailor your messaging to address these.
- Outreach channels: Choose the most effective outreach channels for your target audience. This could include email, LinkedIn, direct mail, or even face-to-face meetings.
- Email outreach: Use email to reach out to your target banks and financial institutions. Your email should be personalised, engaging, and offer value by highlighting how your solution can solve their specific pain points.
- Follow-up: Follow-up with each target bank or financial institution after your initial outreach. Schedule a call or meeting to discuss their needs in more detail and build a relationship with them.
- Case studies and testimonials: Use case studies and testimonials to demonstrate the success of your solution and its impact on similar banks and financial institutions.
- Event attendance: Attend relevant industry events and conferences to meet with your target banks and financial institutions in person. Network and build relationships with attendees and present your solution as a solution to their specific needs.
Step 3: Leverage Marketing Automation
Marketing automation can be a game-changer when it comes to ABM, as it allows you to scale your efforts and reach more accounts in less time. With the right marketing automation tool, you can automate many of the tasks involved in ABM, freeing up more time to focus on strategy and execution. Hubspot is one popular option that can help you streamline your ABM efforts and get better results.
Marketing automation can be leveraged in the specific example of targeting banks and financial institutions by using the following techniques:
- Lead Scoring: Use lead scoring to prioritise your target banks and financial institutions based on their engagement levels and interest in your solution. Lead scoring will help you focus your efforts on the most promising prospects.
- Personalised Email Campaigns: Set up personalised email campaigns that are triggered based on the engagement levels of your target banks and financial institutions. For example, you could send a follow-up email to a bank that has shown interest in your solution or a targeted email campaign to a financial institution that has attended a relevant industry event.
- Landing Pages and Forms: Use landing pages and forms to capture the information of your target banks and financial institutions. You can then use this information to segment your target audience and personalise your outreach efforts.
- CRM Integration: Integrate your marketing automation platform with your CRM to ensure that all relevant information about your target banks and financial institutions is stored in one place. This will make it easier to track your interactions with each target and personalise your outreach efforts.
- Analytics and Reporting: Use analytics and reporting to track the success of your marketing automation efforts. This will help you identify which strategies are working and which ones need to be refined.
Step 4: Measure Your Results
One of the biggest advantages of ABM is that it allows you to track your results and measure your ROI. Use a marketing automation tool to keep track of key metrics like open rates, click-through rates, and conversion rates, and adjust your strategy as needed based on what you learn.
Step 5: Rinse and Repeat
Finally, once you've successfully executed your ABM campaign, it's time to rinse and repeat. Keep refining your strategy, experimenting with new tactics, and measuring your results so you can keep growing your business and reaching new heights.
By following these steps, you can set yourself up for fast and ongoing success with ABM. Whether you're a small business looking to make a big impact, or a larger enterprise looking to expand your reach, ABM can help you get the results you need.
ABM is an ongoing process, so it's important to continuously refine your strategy and tactics. Keep measuring your results so you can adjust your approach as needed. By following these steps, you can ensure that your ABM campaigns are always successful.
Learn more about digital projects and how we could help.
If you want to learn more about ABM, Hamma can help. We offer a variety of services that can help you get the most out of your ABM campaigns. Contact us today to learn more.