5 Must-ask Questions about ABM Strategy Implementation

Apurva Pathak | December 18, 2021 | 111 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.

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AdDaptive Intelligence Launches New Website and Logo

AdDaptive Intelligence | September 30, 2022

This week, AdDaptive Intelligence, the leading provider of account-based advertising and analytics, has released a new logo and website. "We started by exploring our business strategy, internal strengths, and market opportunities," explained Laura Goldstone, senior director of communications and branding strategy at AdDaptive. "Then we crafted messaging and designs that conveyed our differentiators most effectively. Strategic planning and cohesion throughout enabled a full brand refresh that spans all of our content, building on and elevating our voice and presence in the market." The new design's elements include: The gradient represents movement, adaptability, and depth as well as sleekness and tech-savviness. The logomark matches the A in AdDaptive. Its shape conveys AdDaptive's emphasis on analytics and success by representing a bar chart growing from left to right. When rotated, it can also resemble a marketing funnel, representing AdDaptive's ability to move key accounts toward clients' KPIs. The tagline informs audiences that they will achieve Smarter B2B Advertising by working with AdDaptive. "The ultimate goal of this project was to elevate our visual identity and tell an authentic story that embodies who AdDaptive is, what we do, and where we excel," said Alexandra Singer, senior graphic designer at AdDaptive. "Every decision in this process was intentional and strategic and done with our mission and vision in mind." While designing their new logo in-house, AdDaptive concurrently worked on a new website that would showcase this new design while also conveying their brand's narrative in a more compelling and data-driven manner. AdDaptive worked with web design agency Bop Design to produce a sleek, optimized, and organized website that conveys AdDaptive's value proposition clearly and thoroughly and provides intuitive navigation and flow. "We're excited that our new site leads with transparent, comprehensive account-based analytics, which is a main differentiator for AdDaptive," said co-founder Patrick Shea. "We're excited that our new site leads with transparent, comprehensive account-based analytics, which is a main differentiator for AdDaptive," said co-founder Patrick Shea. Co-founder Kevin O'Malley added, "Beyond the unique reporting we provide, our new site dives into how to use those insights strategically and how to ensure your campaigns are set up to yield successful results across marketing, sales, and overall business goals. We're excited for our website to walk through the customer journey step by step and hope this new layout provides a positive experience for all visitors." AdDaptive's customer journey as laid out on the new site is cyclical, starting with audience discovery either in the form of an ABM list or custom-built firmographic segments; leading into media activation and campaign deployment either through AdDaptive's curated deals offering or through AdDaptive's accounts management team; feeding into transparent insights in various analytics reports (namely Campaign Analytics and Site Analytics). But it doesn't stop there: AdDaptive's team then acts as strategic consultants, coaching agencies and brands on how to make analytics reports actionable. AdDaptive's team works with its customers to make effective advertising decisions by exploring the insights in previous campaigns' analytics reports and refining their target audience, KPIs, and budget in subsequent campaigns, thus feeding into the cycle for long-term success. "Storytelling is at the heart of how we connect with our customers on a human level," Goldstone went on to say. "While we lead with our insightful analytics and technological capabilities, the way we convey the power and value of those solutions is through stories - stories about the customer, internal teams, and the market. And when stories are supported by strong design, trust among customers increases exponentially and builds a virtuous cycle with tremendous upside." Readers can view the new website and logo at www.addaptive.com. About AdDaptive: AdDaptive Intelligence is the leading provider of Account-Based Advertising and Analytics. Deploying display, native, video, CTV, and audio campaigns for B2B audiences, AdDaptive's proprietary technology bridges offline and online data, optimizes ad campaigns, and provides transparent B2B analytics to help clients reach the accounts that matter most. The result is the industry's most accurate and strategic B2B ABM solution. For more information, visit https://www.addaptive.com/blog/ or follow AdDaptive on LinkedIn, Twitter, or Facebook.

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