Account Based Marketing
What exactly is account based marketing?
Are you thinking, “Don’t I already market to my customers, especially to my best customers?” If you’re already doing B2B marketing, you’re probably doing some version of account based marketing.
To get a better idea of what account based marketing looks like, consider one marketer’s analogy. Traditional marketing is like casting a wide net to catch fish (your customers), while account based marketing is “like fishing with a spear”. Another description is personalized attention to an account to nurture the relationship with that organization.
Account based marketing synchronizes your marketing and sales forces and coordinates their work with an account with the ultimate goal of filling your pipeline and increasing revenues.
What are the benefits of using an account based marketing strategy?
In account based marketing, a customer account, that is, the company, is treated as its own market. This is particularly useful when there are multiple stakeholders weighing in on buying decisions. This strategy allows you to customize your approach and your sales and marketing solutions for an individual customer. Doing so typically leads to shorter sales cycles and higher ROI.
Account based marketing focuses your team’s efforts on a targeted and personalized strategy for your customer. Side benefits include increased customer engagement and loyalty.
How do I implement an account based marketing strategy?
1) Identify your target accounts, the ones you consider your most valuable.
2) Identify the key players in this account, the decision makers and staff members who will have an impact on those decisions.
3) Research your company’s business goals and strategies so that you can design a personalized solution.
4) Determine which channels you will use to connect with your target accounts, including the incorporation of digital tools. Coordinate channels, keeping in mind that different combinations work (or don’t work) for different industries.
5) Design your campaign and execute.
6) And, as with any strategy you implement, measure, study, make improvements, implement the new and improved strategy, and repeat.
Account based marketing results in a more personalized customer experience, a tighter relationship between you and your customer, and ultimately, increased revenue for your business.
Technigrafic Solutions, Inc.
Internet Marketing and Advertising Solutions