What are the Benefits of Account Based Marketing ?

by David Jones Digital Marketor

Benefits of account-based marketing

The importance of ABM attributions is realized when marketers use it to their true potential. Here are some of the benefits of this strategy.

High return on investment - Effective ABM implementation can achieve higher return on investment. The 2014 ITSMA Account Based Marketing Survey stated that "ABM delivers the highest return on investment of any B2B marketing strategy or tactic."

Reduced resource waste - The focused nature of the ABM strategy allows marketers to nurture their resources efficiently and run only those marketing programs that are highly optimized for the target accounts.

Personalized and optimized - This ABM tactic requires personalization of your communications and messaging to specific accounts, so that your campaigns resonate with these audiences. With an AI-infused ABM strategy, customers are very likely to engage with content that is addressed directly to them and is relevant to their business and phase of the buyer's journey.

Clear Objective Tracking and Measurement - It's easier to draw a clearer conclusion based on the effectiveness of campaigns, whether email, ads, web or events for a smaller set of target accounts instead of a large set of metrics.

Sales and Marketing Adjustment - Account-based marketing is one of the most effective ways to customize sales and marketing. This is mainly because a marketer, when running an ABM program, works with a mindset very close to sales - thinking in terms of accounts and how to best target them.

Successful account-based marketing examples

Here's an example of how Engagio ran its first ABM campaign ever and saw great results through an overall multi-channel approach.

Complex account-based all Bonaza - Engagio

Target accounts: 300

Goal: Get 20% of these accounts for opportunities (65% Marketing Qualified Accounts per Commitment at a 30% meeting rate)

Marketing: owns initial setup and execution of the campaign, delivers MQAs for sale

Sales: owns follow-up on any responses and MQAs, transforms engagement into opportunities

Channels used: human emails from / to multiple players + Direct mail package + LinkedIn profile views + LinkedIn messages + Phone calls + Account-based ads

Engagio discovered that engagement in the campaign did not cluster around a particular channel; it was scattered.

Key takeaway: Multi-channel approach is the key to maximum engagement. It is important to hit all the different touch points so that we can get everyone's answers - and always deliver value regardless of channel.

LiveRamp

To engage potential customers, LiveRamp adopted a multi-channel approach that allowed teams to book multiple meetings with Fortune 500 companies.

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LiveRamp credited their success to five main initiatives:

To engage potential customers, LiveRamp adopted a multi-channel approach that allowed teams to book multiple meetings with Fortune 500 companies.

Strong alignment between their marketing and SDR teams

Their high value, regional thought management events that emphasize learning and development

Coherent engagement and messaging through personalized display advertising, marketing of email promotions, multi-touch SDR strategies and direct mail

Automation

The team used a hyper-focused approach to goal creation of the list and took this strategy to come up with 15 senior customers. This resulted in a conversion rate of 33% from cold leads to meetings within a four week time frame. LiveRamp also found that their ABM campaigns performed significantly better than their broad campaigns, generating a 2x increase in previous sleeping accounts as well as a 10x increase in revenue from year to year.

Key takeaway: It requires the integration of several initiatives to create a successful ABM campaign. LiveRamp's hyper-targeted approach combined with strong coordination between their teams as well as their high value offerings that sought to educate and inform their prospects integrated seamlessly, resulting in success. This is one of the many account-based marketing examples that have proven to be successful.