9 Account-based Marketing Benefits Explained

Apurva Pathak | January 20, 2022 | 137 views

Account-based Marketing Benefits
Account-based marketing has been around since the early 2000s, but only recently have businesses started to implement it widely in their marketing strategies. By focusing on ideal customer profiles (ICP), businesses shortlist key accounts and target them with customized content campaigns to convert them from marketing-qualified leads to buyers. An account-based marketing strategy uses sales and marketing orchestration to transform the way key accounts are approached.

ABM marketing contributed to a 70 percent increase in the number of opportunities created. (Source: Gartner)

Nash Haywood, Global Director-Digital Conversion & Paid Media, Genesys, talked about ABM’s impact on how sales and marketing teams function.

“We wanted to have more control of the entire (marketing and sales) process, and an ABM approach allowed us to do that.”

B2B account-based marketing drives valuable engagement and leads to higher ROI as compared to other marketing strategies.

Benefits of Account-based Marketing

Account-based marketing benefits range from increased marketing efficiency and higher ROI to higher engagement and retention. Let us take a look at them in detail:

ABM Enhances Your Marketing Efforts

ABM marketing is data-driven. Account-based management becomes easy with crucial data like role, industry, and buyer journey stage. Based on this data, appealing personalized content campaigns are created to target key accounts. These campaigns optimize your marketing efforts. They also give insights on which channels and messages appeal to your targeted key accounts so that you can refine your account-based marketing strategy. According to Emarketer, 46 percent of marketers are benefitting from real-time optimization to accelerate their pipeline revenue.

Sales and Marketing Teams Synchronize

An account-based marketing campaign aligns the goals of the sales and marketing teams. It also brings other important stakeholders, like the IT team and the executive team, together to create an effective strategy for achieving goals.

Sales and marketing orchestration can lead to a massive increase in marketing revenue (up to 208 percent as stated by MarketingProfs).

ABM Improves Marketing Efficiency

Account-based marketing automation technology helps streamline marketing processes and scale ABM implementation across different marketing campaigns. Activities like ad targeting, modelling, upselling media buying, and executing lead nurturing campaigns can be done efficiently using account-based marketing software. You can cease marketing to accounts that do not respond to your campaigns and focus on the ones that do. This can help you save your money and allocate your time and resources better.

You Retain Customers Better

ABM uses hyper-personalized content to pursue higher customer engagement and retention. By showing key accounts the content they want to see, brand awareness and trust are increased. An account-based marketing campaign, especially one created to engage target accounts, contributes to an enhanced customer experience that makes B2B marketing significantly impactful. It translates to long-term associations and bigger deal sizes.

You Close Deals Faster

You can move key accounts through the sales funnel swiftly and close deals faster by identifying decision-makers of your key accounts. B2B account-based marketing saves time and resources, which can be used to generate new leads. That is why this is one of the most important account-based marketing benefits.

ABM Improves Deal Sizes

Account-based B2B marketing targets only key accounts with buyer intent. It is about quality more than quantity, and this makes a whole lot of difference in how you approach accounts and strike deals. A shorter sales cycle through account-based marketing means landing a big account that signs away more money than many small accounts would.

You Get a Higher ROI

According to a report by ITSMA, 87 percent of marketers stated that ABM delivered a higher ROI as compared to other marketing strategies. Since account-based marketing is a data-driven strategy that uses personalized content to target accounts, this approach is easier and more cost-effective as it saves time and resources because of its precision.

ABM Performance Is Measurable

Account-based reporting is a key account-based marketing benefit. Using metrics like engagement, brand awareness, target account reach, retention, ROI, and influence helps you understand how well your ABM strategy is working. You can optimize your strategy to make it perform better.

ABM Makes You the Expert

While implementing account-based B2B marketing, you gain deep insights into the conversion behaviours, preferences, challenges, and needs of your target accounts. This knowledge makes you an expert in offering solutions that your target accounts crave. It also helps with new service or product design ideas that can cater to customers in a more personal way.

Creating an ABM Strategy That Works

To create an account-based marketing program that works, follow these steps:
1. Define the key accounts you want to target.
2. Identify the decision-makers for these accounts.
3. Create hyper-personalized content for them.
4. Zero in on appropriate channels to get maximum impact.
5. Create impressive content campaigns to increase engagement.
6. Measure the success of your campaigns using the correct metrics.

Account-based Marketing Services to Scale Your ABM Strategy

To adopt ABM at scale for exponential business growth, you need to evaluate your target accounts and then expand your ABM strategy from a small scale to a full-blown ABM. Your expansion can also be across new segments or businesses based on industry or company size. Artificial intelligence and marketing automation make it easier to implement ABM at scale.

Account-based marketing services offered by companies that specialize in ABM and marketing like Marketo, Terminus, Demandbase, Optimizely, and Oracle make it easier to implement an ABM strategy at scale. These companies offer services to attract and convert prospects, scale up your marketing, and grow customer relationships through up-selling and cross-selling.

Account-based marketing automation, email marketing, lead management, account-based management, social marketing, digital advertising, mobile marketing, multi-channel marketing, account-based reporting using ABM metrics and optimization along with account-based marketing software can help you scale your ABM strategy without breaking a sweat.

How SAP Created New Pipeline Opportunities Using ABM

SAP launched an account-based marketing program to target the company's top 10% of key accounts. These accounts were responsible for a third of their revenue in America. Through their ABM program, they offered specialized marketing plans for these accounts. SAP gained new pipeline opportunities and moved $57 million down the pipeline because of the benefits of account-based marketing.

Summing It Up

The time to implement ABM in your marketing strategy is now. Adopting it into your marketing strategy can help scale your business and achieve your business goals.

FAQ

What are the benefits of account-based marketing?

Some noteworthy account-based marketing benefits are: higher ROI, sales and marketing alignment, customer retention, and a shorter sales cycle.

Which metrics measure ABM performance?

Metrics like engagement, ROI, customer churn rate, content engagement, conversion rate, and average deal size are used to measure the performance of an ABM program.

Why is ABM more efficient compared to other marketing strategies?

ABM targets accounts with buyer intent, helps with better resource allocation and is cost effective. These factors contribute to a higher ROI and bring great results.

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Demand Marketing Solutions

Demand Marketing Solutions helps companies grow business through increased sales. We create demand by quickly increasing sales and marketing activity. We connect our clients directly with their target contacts; all with the goal of driving additional revenue.

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Sisense Inc. Recognized as One to Watch in Snowflake’s Modern Marketing Data Stack Report

Sisense | September 29, 2022

Sisense Inc. today announced that it has been recognized as a One to Watch in the inaugural Modern Marketing Data Stack Report: Your Technology Guide to Unifying, Analyzing, and Activating the Data that Powers Amazing Customer Experiences executed and launched by Snowflake, the Data Cloud company. Snowflake’s agnostic, data-backed report identifies the best of breed solutions used by Snowflake customers to show how marketers can leverage the Snowflake Data Cloud with accompanying partner solutions to best identify, serve, and convert valuable prospects into loyal customers. By analyzing usage patterns from a pool of nearly 6,000 customers, Snowflake identified six technology categories that organizations consider when building their marketing data stacks. These categories include: Analytics Integration & Modeling Identity & Enrichment Activation & Measurement Business Intelligence Data Science & Machine Learning The report explores each of these categories that comprise the Modern Marketing Data Stack, highlighting technology partners and their solutions as “leaders” or “ones to watch” within each category. The report also details how current Snowflake customers leverage a number of these partner technologies to enable data-driven marketing strategies and informed business decisions. Snowflake’s report provides a concrete overview of the partner solution providers and data providers marketers choose to create their data stacks. “Marketing professionals continue to expand their investment in analytics to improve their organization’s digital marketing activities. Snowflake’s goal is to empower them in their journey to data-driven marketing,” said Denise Persson, Chief Marketing Officer at Snowflake. “Marketing professionals continue to expand their investment in analytics to improve their organization’s digital marketing activities. Snowflake’s goal is to empower them in their journey to data-driven marketing,” said Denise Persson, Chief Marketing Officer at Snowflake. “Sisense’s strong performance and innovative approach within Snowflake qualified them as one to watch in the BI and Analytics categories due to their demonstrated customer success. We look forward to observing their continued momentum in empowering our joint customers.” Sisense Inc. was identified in Snowflake’s report as a ‘one to watch’ in Analytics and Business Intelligence “Being recognized as a company to watch in Snowflake’s inaugural Modern Marketing Data Stack report is a testament to the dedication Sisense demonstrates for our joint customers,” Scott Castle, Sisense Chief Strategy Officer said. “We look forward to continuing to partner with Snowflake to create innovative approaches that empower our customers to adopt a best-of-breed marketing data stack to advance their business and serve their customers.” The smallest insights can drive large-scale business decisions. Sisense’s goal is to empower business leaders with a simple, streamlined process of getting the answers they need to get business done. Sisense believes that in order to make better-informed business decisions, we need to remove the barriers between questions and answers where end users work. Because once there is a clear path to clear answers, business leaders can better understand their world and gain the necessary knowledge to take action in it. Through the deep integration of Sisense’s analytical engine and live data models with the elasticity and power of Snowflake, Sisense Fusion delivers insights embedded into products, business workflows and productivity tools knowledge workers use every day. We are not delivering solutions for BI, we are helping people find answers. By streamlining the process of accessing insights, business leaders can gain the necessary knowledge to take critical action in a matter of minutes. This is how business decisions get made–confidently. Click here to read The Modern Marketing Data Stack: Your Technology Guide to Unifying, Analyzing, and Activating the Data that Powers Amazing Customer Experiences. About Sisense Sisense goes beyond traditional business intelligence by providing organizations with the ability to infuse analytics everywhere, embedded in both customer and employee applications and workflows. Sisense customers are breaking through the barriers of analytics adoption by going beyond the dashboard with Sisense Fusion – the highly customizable, AI-driven analytics cloud platform, that infuses intelligence at the right place and the right time, every time. More than 2,000 global companies rely on Sisense to innovate, disrupt markets and drive meaningful change in the world. Ranked as the No. 1 Business Intelligence company in terms of customer success, Sisense has also been named one of the Forbes’ Cloud 100, The World’s Best Cloud Companies, six years in a row. Visit us at www.sisense.com and connect with us on LinkedIn, Twitter, and Facebook.

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Emplifi Summit Brings CX Leaders from the NFL, Virgin Media, and TikTok to the Virtual Stage

Emplifi | September 29, 2022

Emplifi, the leading customer experience platform, today announced the speaker lineup for this year’s Emplifi Summit virtual event, which is taking place on October 5, 2022, with online sessions starting at 9:00 a.m. EST. Speakers include a wide array of marketing experts and CX thought leaders from the world’s most recognizable brands, including the NFL, Virgin Media, and TikTok. Emplifi CEO Mark Zablan will kick off the event with an opening keynote on how the customer journey of the future is taking shape now – and what brands can do to prepare. "Today’s consumers are begging for more authentic relationships with brands. They want personal and effortless customer experiences." said Zarnaz Arlia, Emplifi CMO. "Today’s consumers are begging for more authentic relationships with brands. They want personal and effortless customer experiences. The good news for marketers is that we have the technology and resources to deliver remarkable experiences. The challenge is using the technology to our advantage without allowing it to hamper the customer-brand relationship," said Zarnaz Arlia, Emplifi CMO. "We’ve designed this year’s summit to address this very challenge and have recruited some of the best minds in the business to share how they are building unforgettable customer experiences across their marketing channels." Emplifi Summit 2022 speakers include: Timothy Armoo, Founder of the marketing agency Fanbytes: Timothy’s session will cover the new world of social media, looking at all the ways GenZ interacts online and offering insights on how to build successful marketing strategies for emerging channels. Rachael Courtney, Senior Social Marketing Lead for Virgin Media: Rachael will join Emplifi CXO Shellie Vornhagen in a conversation covering Virgin Media’s CX efforts and how the brand is maximizing the value of its customer interactions. Britt Deise, Manager of Club Social Marketing for the NFL: Britt will share how the NFL drives social growth and engagement across all 32 clubs Jyri Kidwell, Head of Creative and Creator Partnerships at TikTok: Will discuss how to get started on TikTok, outlining best practices and tips for content creators who are looking to unleash the power of video. Katy Leeson, CEO of Relentless Media: Katy will join Emplifi CMO Zarnaz Arlia for a heartfelt conversation on the realities of burnout, imposter syndrome, and how company actions and culture inform the brand purpose… and brand perceptions. Fred Reichheld, Bain Fellow and bestselling author: Credited as a customer loyalty guru, Fred will share insights from his most recent business book “Winning on Purpose,” offering a deep-dive into the power of customer love and why leaders must avoid mistaking profits for purpose as their companies grow. Emplifi Summit is a virtual event tailored for brand marketers looking to create unforgettable customer experiences. To find out more about the Emplifi Summit and register to attend, visit the event website: Emplifi Summit 2022. About Emplifi Emplifi is the leading unified CX platform that brings marketing, commerce, and care together to help businesses close the customer experience gap. More than 7,800 brands, including Delta Air Lines, Ford Motor Company, and McDonald's, rely on Emplifi to provide their customers with outstanding experiences at every touchpoint. For more information, visit www.emplifi.io.

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