I’m sure you’ve heard about a little marketing strategy called account-based marketing (ABM). You may even be sick of the term. Whatever your thoughts are, it’s hard to deny the benefits of taking an account-first approach. B2B companies far and wide have benefitted from ABM — (enter shameless plug for our sister publication ABM In Action, #sorrynotsorry) — but why should others consider it?
During the Buyer Insights & Intelligence Series last week, Andre Yee, CEO of the ABM software company Triblio, made a case of ABM by highlighting three real-world success stories and key takeaways from each in a webinar titled: Proven ABM Campaigns To Engage And Convert Your Target Audience.
When kicking off the session, Yee said that research shows 42% of B2B companies are using marketing automation today because they look to build revenue. But, in his opinion, “marketing automation is insufficient and you need to add ABM to the mix.”
Marketers are constantly faced with challenges such as MQLs not converting to SALs, email engagement declines and a distinct change in buyer behaviors. “Buyers are delaying the hand raise and they’re disinclined to fill out forms,” said Yee.
So what should B2B marketers do? Here are three best practices Yee shared during the webinar:
- Focus on the accounts sales wants; the types of accounts you’ve seen your sales team close.
- Reach the whole buying group, instead of one or two contacts.
- Activate sales at the point of interest. Score the account visitor and activate sales at the right time with the right insights.
Yee continued by sharing three case studies of companies who have found success with leveraging ABM to target and engage their target audiences.
FiscalNote, a government relationship management platform, needed to engage and convert more leads in target accounts based on six industry verticals, including government, healthcare, high tech and education. But their value proposition differed by industry. The company used Triblio to enable a virtualized pursuit strategy for target accounts and deliver industry-specific context experiences and CTAs to target them on their website.
Their initiative deemed successful: the company saw a 220% lift in engagement with technology prospects, and a 570% lift in engagement with federal prospects.
Another company, Plex, which provides ERP software for manufacturing companies, turned to Triblio to develop highly personalized integrated advertising and web experiences for manufacturers they cater towards. The company realized they had to sign prospects on early and often, and using ABM, they were able to engage early and involve sales at the right time.
These personalized ad campaign efforts resulted in 39% of growth in web visits from target accounts. “What’s interesting is that during that time, overall traffic actually went down, but in target traffic went up by 39%,” said Yee. “That’s the benefit of using an ABM strategy for reaching and targeting your accounts.”
Getting Started In Your ABM Journey
Ready to kick off an ABM strategy at your business? Yee shared four steps for newbies:
- Benchmark Engagement — What accounts are engaging with you currently? How engaged are they?
- Segment Target Accounts — Segment by the value of the account, buying experience, message/content.
- Reach and Engage Account Visitors — Reach buying groups with the messaging and content that drive stage progression.
- Activate Sales — Coordinate with sales to handoff accounts at the point of interest.
Check out the full webinar on demand to hear more case studies and ABM best practices here.