Only a small percentage of the population is in a position to invest in a business. Do you know how to get the attention of the investors you need?
Finding the investors and clients that will keep your business thriving often feels like taking a shot in the dark. The ABM strategy can help. With account-based marketing, you can boost your growth by accessing the funds you need and the clients you want.
What is ABM, and how can you put it to work? In this guide, we'll answer those questions and more. Keep reading to learn how to get those high-value clients and investors!
What Is Account Based Marketing?
With account-based marketing, you use strategic marketing to directly connect with important business accounts. You'll market to them directly as individuals, instead of sending out mass marketing materials. This customized approach can quickly get the attention your business needs.
ABM marketing can involve many different marketing channels to get the right approach. The key difference from traditional marketing is in identifying key investors or clients, then speaking to them directly in your marketing.
Of course, you wouldn't want to send this kind of personalized marketing as a default. But by only focusing on specific, important accounts, you can maximize the value of your time spent on ABM.
Benefits of the ABM Strategy
You can probably already see how the ABM strategy can help your company grow. Let's take a closer look at the benefits of account-based marketing.
1. Cost-Effective Results
It might seem like ABM is a high-cost strategy. However, it's actually much more cost-effective that you might realize.
When you send custom marketing materials directly, you can save money using efficient platforms that allow you to make those connections precisely and quickly. You're also using your time and efforts wisely, so you're not spending extra money on marketing approaches that don't get results.
2. Reap the Benefits of Personalization
No one likes a generic approach. Just think about the last time you got a mass marketing email or mailer. You probably sent it straight to the trash without even reading it, because it didn't really speak to you.
However, with ABM, you're speaking straight to investors or clients, and they'll love the personal approach. You can mention the pain points you know they experience and other relevant specifics. It's an opportunity to show these valuable accounts how much you really understand them.
3. Put Your Metrics To Work
Metrics is always one of the most challenging parts of marketing. How can you know which numbers to rely on, and put them to work in the most effective ways?
Account-based marketing helps streamline your approach to metrics. You'll have fewer metrics to work with, which means you can simplify the ways you apply them. It's far easier to analyze and set goals when you don't have so many different numbers floating around.
4. Seamlessly Sync Marketing and Sales
When you use the ABM strategy, you have the perfect opportunity to get the marketing and sales departments working in sync.
You'll need both teams working together to find and target key accounts, and figure out exactly how to sell to them.
Marketing and sales are notorious for accidentally undermining each other. But when you have both teams working together with the same goals in mind, the results can grow far beyond what each team can accomplish individually.
5. Grow Your ROI
With this kind of specific, targeted marketing, you're getting a much greater return on investment than you would otherwise. You're not wasting your efforts on accounts that might not be interested. Instead, you're targeting the exact right accounts with the exact right approach.
By eliminating waste, you're making your investment go farther. And since the metrics are so easy to use, measuring ROI also becomes much easier.
How to Implement Account-Based Marketing in Your Business
Ready to give the ABM strategy a try? Here's how you can get started.
1. Set Goals
Before you get started, it's a good idea to get your goals in place. Keep in mind that you can change or refine those goals later on.
Make sure those goals are specific and measurable. What does success look like? Is it a response to a marketing message, a new website visitor, or a new investor or client? Where will you keep track of those metrics, and how often will you review them?
2. Target the Right Accounts
Next, you need to identify the accounts that are right for your ABM strategy. You don't want to waste time marketing to accounts that aren't worthwhile. Don't rush this step.
The right accounts to target also depend on your goals. If you're looking for investors, you'll target differently than if you were looking for clients. The best accounts are big enough to be worthwhile, but also likely to give you the conversion you want.
3. Specify Your Approach
Now that you have the list of accounts to target, you can break down the best specific approach for each one.
This might involve a wide variety of channels and messages to get the results you want. Remember that each account gets treated as an individual. The same approach might work well for more than one account, but make sure you customize your approach as needed.
Don't forget to make a calendar to keep all your efforts organized. When it comes to ABM, timing is everything.
4. Develop the Content
Now, your creative team gets to develop the content that you'll send to each account through each channel. Once this step is complete, you're ready to put your content calendar into motion and see the results!
Is Account-Based Marketing Right for Your Business?
No matter how large or small your company is, an ABM strategy can help you get results. Don't sleep on this valuable marketing approach!
Once you've seen the results of ABM, you'll want to find new ways to help your business thrive. Check out our guide to project planning for more!