B2B marketing leaders need to drive demand in creative new ways.
The problem? It can be tough to get creative in a climate of high pressure and low resources. Successful marketers know that tough economic conditions are a cue to double down on proven tactics—like ABM—while also taking smart risks. Read on for the 5 key reasons top performing companies are prioritizing ABM right now, and get a sneak peek of Inverta’s new ABM Starter Pack, which makes it easier than ever to build, launch, optimize, and scale a pilot ABM pilot program.
- ABM provides focus to your sales and marketing teams, so they stop spinning their wheels and start collaborating more effectively to drive demand. By aligning your efforts around a set of target accounts, you can ensure that your teams are working together towards a common goal. This laser focus helps to eliminate the inefficiencies that often arise when sales and marketing are working in silos. What’s more, this collaboration leads to better alignment on messaging and more targeted outreach, which in turn delivers a more cohesive buyer experience. By providing focus and alignment, ABM can help your teams work smarter, not harder, to achieve your revenue goals.
- ABM is an efficient use of budget because you’re only spending money to engage accounts that are your ideal fit. Unlike traditional marketing approaches that cast a wide net and hope to catch some leads, ABM is highly targeted—akin to spear fishing. In fact, in a study by ITSMA, 87% of marketers who measured ROI said that ABM outperformed other marketing investments. By identifying and prioritizing these accounts, you can be sure that you are spending your marketing budget in the most effective way possible. Rather than wasting resources on leads that may never convert, you can concentrate your efforts on engaging the accounts that are most likely to become customers. This targeted approach not only saves money, but it also generates higher quality leads and ultimately, higher returns on your investment.
- ABM increases the value of pipeline opportunities. By focusing on high-potential accounts and delivering personalized content and outreach, ABM can build stronger relationships with prospects which not only increases the likelihood of conversion, but can also boost contract values. According to a study by Alterra Group, companies that implemented ABM saw a 171% increase in their average annual contract value. How? ABM allows marketers (and Sales, too!) to tailor their messaging and approach to the specific needs and pain points of each account, which can lead to a more engaged and receptive audience. In addition, ABM enables companies to target decision-makers directly, expanding the scope of the buying conversation to address organization-wide needs.
- When implemented correctly, ABM is low risk and high impact. One of the most appealing aspects is its low risk, high reward nature. Inverta has helped hundreds of companies, both enterprise and high growth, implement and scale ABM successfully. And with our new ABM Starter Pack, we not only help clients identify high-potential accounts and personalize outreach, but we also set you up with proven ABM platforms to ensure your team is equipped with the necessary tools for success. With the ABM Starter Pack, you can achieve more predictable and consistent revenue growth within six months, without the risk and uncertainty of other traditional marketing tactics.
- It’s easy to prove the ROI of ABM by identifying your key metrics at every account stage. Unlike some other tactics, ABM provides a clear and measurable impact at every step of the sales and marketing process, across three types of KPIs: revenue, relationships, and reputation. This level of visibility allows you to optimize your program and adjust your approach to best serve your target accounts. It also equips you to socialize early engagement metrics with your executives and stakeholders, to demonstrate marketing’s impact long before a new pipeline opportunity is created.
To put it simply, marketers are doubling down on ABM because it works.
How it works is an entirely separate conversation—but we’d be remiss not to mention one critical, but often overlooked aspect of running a successful ABM program. And that’s the marketing technology that makes it all happen behind the scenes, such as:
- identifying priority accounts based on intent signals
- personalizing content and creating custom content experiences
- delivering real-time intelligence to optimize your program design
- coordinating messages and content across channels and stages of the buyer’s journey
Whether you purchase new ABM technology to achieve your goals or work to integrate your existing tools to support your program design will depend on what you currently own and what you’re trying to achieve.. Remember, the end goal is to work smarter, not harder, to drive pipeline., So think through your marketing technology needs and strategy before you launch your program.
If you need support in your account-based marketing strategy, technology, or execution, the ABM Starter Pack can get you up and running quickly, while equipping you with a scalable foundation for growth. If you start now, you can launch an ABM pilot with early results in Q4. Learn more about the ABM Starter Pack today!