We recently sat down for a Zoom video call with a client who’s a successful business coach. His business is doing well—he’s just signed up five executives for a virtual group coaching program and another client for a year-long engagement—but he knows there’s room for improvement when it comes to his process. He’s currently working 80 hours a week, his nurturing process is extremely high-touch, and he’s found himself wasting precious time chasing down leads that don’t go anywhere. His current modus operandi is a recipe for burn out. What he’d really like to do is gain back his time, automate his sales process, focus on quality leads, and go from a one-to-one approach to one-to-many. Our recommendation to him is to try out a marketing-first approach to sales.
Sales-Led Networking or Account-Based Marketing?
Traditionally, a B2B company’s sales force is the leading edge of new business—whether that be through cold calling prospects, reaching into their network for referrals, or meeting people through networking events. Yes, this strategy can produce results in the long run, but this one-to-one approach is both time consuming and expensive. It also limits strategy to the knowledge of the sales team, when in fact, there are much better results to be had through collaboration. What if, instead of placing cold call after cold call—and sending generic email after email into the abyss—you could collaborate with your marketing team to create a robust campaign? What if, instead of wasting time chasing down a lead that goes nowhere, you could target your ideal clients? What if, instead of spending your time focusing on just one client, you could craft a personalized campaign that reaches many of your key accounts? These are just some of the benefits of account-based marketing.
What Is Account-Based Marketing?
Account-based marketing (ABM) is a B2B marketing approach in which the marketing team and sales team work together to create campaigns that target key business accounts and turn them into clients. With ABM, you’re able to choose your best-fit accounts, engage them across multiple channels, and measure and optimize campaigns to improve results. This targeted approach is especially beneficial in today’s ever-increasing digital world where people are inundated with information and overwhelmed by choice.
The Benefits Of Account-Based Marketing
While account-based marketing is not a new concept, it’s grown increasingly popular for B2B companies who want to get in front of key accounts. And in a post-pandemic world, this approach takes advantage of new technologies and a remote-working world. If you’re considering making the switch to account-based marketing, here are five benefits you’ll experience from this targeted approach:1. Sales and Marketing are AlignedWhile the sales team has the knowledge of which companies to target, the marketing team is equipped with the skills to craft campaigns that engage them. By working together, an organization can move more accounts through the sales pipeline.2. PersonalizationRather than using generic messaging to cast a broad net, AMB uses personalized messaging and specific channels to target key accounts, leveraging their needs and attributes to stand out.3. EfficiencyThrough this approach, marketers are able to focus their time on narrower high-value targets that are more likely to close, as well as monitor and optimize campaigns in real time.4. High-Value TargetsInstead of wasting precious time and resources on low quality prospects, ABM allows you to use technology to target and manage the accounts that will produce the most ROI.5. Measurable ROIABM strategies are clear and precise, and therefore more measurable—whether it’s a specially tailored webinar or a LinkedIn paid advertising campaign. 85% of marketers who measure ROI describe account-based marketing as delivering higher returns than any other marketing approach.
If you’re seeking a marketing partner to help you explore your ABM strategy for your business, we should talk. At Paige Black, we leverage marketing to help leaders reach their business goals and make a difference in their lives.