Account-based marketing (ABM) is simple. The sales and marketing teams work together and develop strategy to reach a specific account.
Account Selection Starts with Goals and Ends with Data Driven DecisionsThe sales and marketing teams should agree over firmographic benchmarks. These benchmarks constitute entry into the account universe, which is something that depends on your overall goals.
Common objectives include the following:
- Product fit
- How you enter a vertical
- Increasing your market share
Companies Buy, But People DecideWith the evolution of B2B cycles, there are more resources being committed to help vet out investments by organizations. Even though account selection is important for your ABM strategy, companies should also be able to identify and connect with all the employed buyer personas within the program’s universe, which is getting difficult due to the increase in difficulty when it comes to reaching potential customers. You need to leverage market intelligence and increase the segment targeted companies and common buyer personas within the organization. Market intelligence provides information on an individual basis as well. This includes all professional certifications, as well as academic and employment history, news mentions and more.
Technology Recommendations: Look Inward, Not OutwardThere are a lot of ways to develop and execute an ABM strategy. There are a lot of ways to spend all sales and marketing budgets. To make things easier, solution providers listen to the marketplace and add features that are ABM-centric features.
Less is moreIt is best to start slow with your strategy. The sales and marketing technology needs to include CRM, marketing automation software along with sales automation tools so that companies can drive personalized engagement and outreach. Besides this, companies should also be able to use the previously used market intelligence solution to identify and connect with various buyer personas and target accounts.
- The sales and marketing teams need to agree over firmographic benchmarks
- There is an increase in resources committed to help vet out investments by organizations
- With ABM, the sales and marketing technology should include CRM, marketing automation software and sales automation tools