5 Must-ask Questions about ABM Strategy Implementation

Apurva Pathak | December 18, 2021 | 350 views

ABM

ABM in Marketing

Account-based marketing (ABM) is diametrically opposite of traditional marketing. Instead of targeting all kinds of customers with generic content, it targets only the most lucrative accounts using personalized content. This concentrated targeting results in more conversions, longer business associations, expansion, and account retention.

In an interview with Media 7, Clive Armitage, CEO of Agent3, said,

“If you are not utilizing the power of data, technology and content then you are failing to be a modern marketer.”


ABM leverages firmographic data (basic info), technographic data (data about the kind of technology the lead uses), intent data (lead behavior), and engagement data (data gained through form filling, and event attendance) to target accounts and segment them based on priority. 

A 2020 benchmark study by the Information Technology Services Marketing Association (ITSMA) found that 76% of companies reported a higher ROI with ABM than other marketing types.

How Does ABM Contribute to Revenue Growth?

ABM drives higher ROI and measurable sales using marketing campaigns created by both sales and marketing teams.

A successful ABM strategy has components like these:
  1. Targeting the right accounts and managing them
  2. Cross-channel engagement
  3. Measuring and dynamically optimizing the ABM programs using specialized dashboards to map targets, programs, and revenue metrics created by an account-based marketing software

ABM helps scale business revenue in the following ways:

Shows a Clear ROI

Businesses prefer precise results from their marketing strategies. ABM prioritizes ROI. It gives the highest ROI compared to any other B2B marketing strategy because it targets the highest-value accounts that meet defined criteria through custom campaigns addressing their needs and pain points.

Helps with Resource Allocation

ABM focuses only on high-value accounts. Consequently, companies can allocate their resources better and save time and money.

Engages the Audience

Personalized content means targeted accounts see only the content they can relate to so there is increased engagement and interaction.

Can Be Tracked Every Step of the Way

ABM metrics can be tracked every step of the way, so there is a clear idea of what is working and what isn’t. Important metrics include ROI, engagement, awareness, target account reach, and influence.

Aligns Sales and Marketing Teams

ABM aligns sales and marketing teams by helping them find common ground for their goals and objectives.

5 Must-ask Questions about ABM Strategy Implementation

Account-based marketing questions about ABM technology and strategy arise when businesses transition from traditional lead generation techniques to ABM. The following five must-ask questions about account-based marketing can be the keys to transitioning to ABM:

How to Create an ABM Strategy That Works?

To create an ABM strategy that works, follow these steps:
  • Define your target accounts.
  • Identify the key decision-makers of your target accounts.
  • Personalize your content to cater to your target accounts.
  • Choose appropriate channels to approach your target accounts.
  • Formulate campaigns to engage the target accounts.
  • Measure the success of your campaign using correct metrics.


What Things Should You Consider Before Allocating a Budget for ABM?

It is pretty challenging to find the correct answer to this question. The cost of tools, channels, and individual items keeps varying. Money spent on-field events, content creation to cater to target accounts, ads, trade shows, research, and intent data collection factors into budgeting.

To make budgeting easier, consider bifurcating the expenses into categories like technology (CRM, marketing automation systems, and data management platforms), human resources (data analysts, social media associates, and content strategists), events (one-on-one meets, trade shows, and webinars), media campaigns and direct mail. 

How to Decide on the Size of the Target Accounts?

The size of your target accounts depends on your business goals (acquisition, retention, expansion), team size, and initiatives on an organizational level. Tiering accounts into three categories using data, technology, and thorough research has worked out for several businesses.
  1. Tier 1: These are the accounts that fit your ideal customer profile (ICP) bill perfectly and have high strategic value.
  2. Tier 2: These accounts have an excellent ICP but lower lifetime value.
  3. Tier 3: These accounts meet only some criteria of ICP. Pursue these accounts but don’t go overboard to get their business.


What Metrics Should Be Used to Map ABM Success?

The biggest advantage of an ABM strategy is that its success can be measured. To measure this success, you need to focus on important KPIs like:
  • Engagement: This includes email metrics, social metrics, consumption rates, and offline activity metrics.
  • Awareness: This KPI measures how aware your target accounts are of your brand, how credible they think it is and how they respond to it.
  • Influence: Measure how your ABM campaign contributes to the lead conversion rate, and increase the frequency and volume of your lead interactions.
  • Target Account Reach: With the help of ABM tools, this KPI measures the percentage of the target account’s engaged decision-makers.
  • ROI: Mapping ROI is essential for assessing the success of an ABM strategy. ABM gives better ROI as compared to other marketing strategies.

Other metrics to consider are value, customer retention, and sales metrics.

Who Should Be on the ABM Team?

To begin with, your ABM team should have leadership that knows ABM and its implementation. Key decision-makers from the marketing, sales, and operations departments should be on this leadership team. It should work on setting goals, overseeing the implementation of the ABM strategy, and mapping its success.

How DocuSign Used ABM to Increase Their Customer Engagement and Sales Pipeline by 22%

“We have more awareness and educational content that’s reaching our non-engaged accounts. And we will dedicate a lower level of spend to that program so that we are prioritizing our spend on our more engaged accounts.”

- Perri Gardner, Director of ABM, DocuSign.

By using ABM to target high-value accounts and categorizing their spending based on the value of those accounts, DocuSign increased their customer engagement and sales pipeline by 22%.

Conclusion

Transitioning from a traditional marketing strategy to account-based marketing is vital to drive ROI, engagement, brand awareness, and influence. Correctly implementing an ABM strategy contributes to revenue growth through quicker lead conversions, proper allocation of resources, and a targeted approach.

FAQ


What is the first step in implementing an ABM strategy?

The first step of implementing the ABM strategy is to define the accounts you want to target.

Is ABM better than a traditional lead-based marketing strategy?

Yes. As of 2021, 70% of marketers are using ABM and are seeing a remarkable increase in their ROI.


What does an ABM strategy depend on?

An ABM strategy depends on high-quality intent data. Content personalization, account segmentation, and lead nurturing cannot be achieved without it.

Spotlight

Sparxoo

Sparxoo is a full-service integrated digital agency in Tampa and Miami. We accelerate client growth to make the impossible, possible. We were built for those who seek trendsetting results. Our team of creative branding and digital leaders, passionately re-envision the future by integrating creative, technical, and analytic expertise. At Sparxoo, our smart, competitive and fearless culture drives strategic impact…

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By using firmographic and account data to pivot their ad campaigns, B2B marketers can optimize their results and achieve greater success. StackAdapt’s in-platform offering uniquely operates within a closed-loop identity ecosystem to improve match rates. The goal is to target and engage specific high-value individuals, which requires a deep understanding of the audience. With full control over B2B data, StackAdapt ABM Targeting and Measurement attributes ad engagement back to the exact same authenticated audiences, ensuring that measurement is deterministic and highly accurate. This level of personalization and targeting is critical for creating meaningful engagement and driving desired outcomes such as highly qualified leads, revenue, and brand recognition. “StackAdapt ABM Targeting and Measurement has empowered Centerline Digital to better grow upper and mid-funnel campaign adoption and investment by clients,” said Joey Vara, Associate Paid Media Director at Centerline Digital. “In addition to targeting with confidence, StackAdapt provides an excellent diversity of inventory and tactics to execute throughout the buyer journey. With a renewed capability to effectively target and reach prospects at scale, programmatic has become the top driver of reach, traffic, and engagement for our client base.” StackAdapt’s ABM Targeting and Measurement is built off proprietary, in-house B2B ID graph technology that targets and measures the same authenticated audience, enabling users in a multitude of ways: Frictionless campaign creation and reporting: StackAdapt B2B customers will now be able to use this self-serve solution directly in the platform, allowing for frictionless campaign creation and reporting. Authenticated audiences are also ready for activation quicker than ever before. Audience intelligence: Understand how business professionals and decision-makers are engaging with campaigns and creatives to better iterate on campaign performance. Segment the audiences into more applicable groups that can be targeted using increasingly focused and effective means. Track progress across the buyer's journey: Learn what actions users are taking at which stage of the programmatic funnel to gain intelligence into your unique sales cycle, and prioritize what to do next. Impact on accounts and engagement: Discern interested and engaged accounts for prioritization within the sales team. Quantify your marketing dollars: Be empowered to show stakeholders how programmatic can help nurture and drive the ideal audience through a long and complex sales funnel and provide a return on ad spend. Diverse, multi-channel inventory: Users can reach their ideal audiences no matter where they spend their time through native, display, video, CTV, audio, and in-game, influencing their customer journey and decision-making process down the funnel. Low-risk activation: While other companies may require a long-term contract without providing a testing opportunity, StackAdapt allows companies to launch campaigns quickly and without contractual minimums, giving teams the confidence to test and learn. “We are thrilled to provide StackAdapt users this latest offering because they can now launch a highly scalable and measurable ABM strategy through programmatic technology,” explains Michael Shang, Vice President of Partnerships and Business Solutions at StackAdapt. “B2B marketers can create highly targeted, personalized campaigns to win over best-fit accounts and nurture audiences through the B2B buying journey across all devices and different programmatic channels.” For six consecutive years, StackAdapt has been recognized as a high performer and the highest-ranked DSP in customer satisfaction on G2. For more information, visit www.stackadapt.com. 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PR Newswire | May 26, 2023

NextRoll, the San Francisco-based marketing technology company delivering products for ambitious marketers to grow their businesses, today announced it has secured $50M in committed financing from Capital IP. The investment will be used to strategically support the next wave of innovation on NextRoll's marketing software for both its business units: AdRoll, its marketing and advertising platform for eCommerce brands, and RollWorks, its account-based marketing platform to help B2B companies grow revenue. This news follows a notable market response to the company's software offerings over the last few years. "We are thrilled by this financing from Capital IP, which will enable us to execute strategic growth initiatives and accelerate our software transformation," says Roli Saxena, Chief Executive Officer of NextRoll. "The momentum we've seen in software adoption demonstrates our market potential and the value we deliver to our customers during a time when they need it most." Today's complex marketing landscape and challenging economy requires brands and businesses to leverage new tools and strategies to grow revenue more efficiently. With deep data and machine learning foundations and new innovative offerings across its software platforms, NextRoll is uniquely positioned to streamline how teams identify, engage, and retain customers to achieve efficient growth at a time when every team needs to do more with less. "NextRoll has a strong market position in not one, but two categories," said Capital IP's Managing Partner Riyad Shahjahan. "The impressive growth of their subscription software business, strong demonstrated retention and the strong foundations of their advertising heritage underscore their mission-critical product suite and the value they deliver for customers. We're excited to partner with NextRoll as they deliver on an exciting roadmap ahead and continue to drive towards being a Rule of 40 company." About NextRoll NextRoll is a marketing technology company delivering products ambitious marketers use and rely on to grow their businesses. Powered by machine learning and integrated data platforms, NextRoll's technology serves tens of thousands of businesses globally through its two business units: RollWorks, an account-based platform for business-to-business marketing and sales teams, and AdRoll, a marketing and advertising platform for direct-to-consumer brands. NextRoll is a privately-held, remote-friendly company headquartered in San Francisco with additional offices in New York City, Dublin, and Sydney. To learn more, visit www.nextroll.com. About Capital IP Capital IP Investment Partners ("Capital IP" or "CapIP") is a minority co-founded specialty credit firm focused exclusively on investments in technology and technology-enabled businesses. Our collaborative approach to investing, combined with our technology-industry expertise, allows Capital IP to assess the intrinsic value of growing technology businesses and to offer a range of novel, creative financing solutions. The Capital IP team has a long, proven history of providing flexible structured credit to companies in the technology sector, and continues to lead the industry in financial innovation. The principals of CapIP have historically invested over $1.3 billion in innovative, emerging companies. For more information on Capital IP Investment Partners, please visit: www.capitalip.com.

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