Have you ever imagined a world where you can start the sales process by selling directly to your customer? No. We always imagine a world where we can sell directly to our best fits and verified customers instead of wasting time on unqualified leads which are not suitable for our business.
But what if we mention that it is possible. Instead of wasting time on unqualified leads, you could move straight into the phases and engage directly with the leading customer. Yes, it is possible with Account Based Marketing.
Account Based Marketing allows you to align your marketing and sales teams to focus more on customers and the long term growth of the business. We understand the concern. That is why you are looking for a detailed explanation of the term “Account Based Marketing”.
What is Account Based Marketing?
Let me explain in simple words. Account Based Marketing is a focused growth strategy. In this, marketing and sales teams collaborate to create a personalized buying experience to set up highly valued accounts. This process helps businesses wipe out less-valuable companies and ensures the complete alignment of the marketing and sales team to the valued companies.
In return, it helps in engaging the verified accounts faster than the usual process. ABM (Account Based Marketing) allows businesses to communicate much better with highly valued accounts as individuals in the current market.
By doing this, the company will see rapid growth in the ROI (Rate of Interest). It also boosts customer loyalty.
Let’s come to the benefits part.
Benefits of ABM:
There are multiple benefits of ABM. We have added some below.
- It does keep the marketing and sales aligned into positions.
- It helps maximize the business ROI (Rate of Interest) among highly valued accounts.
- It helps to deliver consistent customer experiences. It is possible because the sales and marketing team work together.
- It can help measure the return on investment.
- It can help streamline the sales cycle.
- It can help businesses to expand through customer account relationships.
It is not the end. There are more benefits of ABM. We have added only a few to the list above.
Common Problems ABM can solve
Some common problems may initially approach and make sense in the B2B (Business to Business) place. Sometimes, it can even reduce the ROI. But, a successful ABM initiative can effectively increase revenue and other things.
- Problem: “not able to show clear ROI” One of the primary goals of account-based marketing is to prioritize the “Return on Investment”. It does deliver a higher ROI than any other tactic.
- Problem: “Wasting a lot of time, staff, and budget resources” Account-Based Marketing always focuses on investing good time. It can help people focus more efficiently on resources.
- Problem: “not able to see engagement with my audience anymore” ABM is more personalized and it does focus more on the targeted customers and is more likely to engage in the content.
- Problem: “Not sure what goals and metrics I should be tracking” It is easier to track and work with analyzed content. So, it is evident we know what metrics we are tracking.
The bottom line
Account Based Marketing does not have to be overwhelming by following the proper marketing and sales tactics. Businesses can achieve much better goals using ABM.
In this article, we have added a quick explanation of ABM (Account Based Marketing). We even have counted the number of benefits and ABM’s problems. If there is any other question for us, the comments section is open.