ABM FTW: GET MORE VALUE FOR LESS EFFORT AND SPEND

If you’re in tech or manufacturing and feeling the pinch from scary economics and sluggish sales, you’re not alone. But here’s some good news: account-based marketing (ABM) could be your ticket to turning things around without blowing your budget. So how can you kick-start ABM techniques and boost your revenue, improve sales enablement, and get sales and marketing teams connected for big results? Let’s explore.

Could ABM be a game changer for your business?

Incredibly, 87 percent of marketers say ABM gives them a higher ROI than any other marketing efforts, according to ITSMA. Plus, companies using ABM have seen a whopping 208 percent boost in revenue from their marketing efforts compared to those that aren’t. This kind of data is hard to ignore, so let’s talk about how an ABM pilot approach might be right for your business.

Three essentials for starting your ABM pilot

1. Define your target accounts
   • Identify high-value targets. Begin with a short list of 20 to 30 companies that fit your ideal customer profile (ICP) and have high revenue potential.
   • Research intensively. Get to know these companies inside out. Understand their pain points, industry trends, and decision-making processes. LinkedIn Sales Navigator and company websites are your best friends here.
2. Personalize your outreach
   • Craft tailored content. Create content that addresses the specific challenges and goals of your target accounts. Think personalized emails, white papers, case studies, or custom webinars.
   • Leverage marketing automation. Use tools like HubSpot or Marketo to automate and personalize your outreach at scale. LinkedIn InMail is also an option to consider. This makes each touchpoint feel like it was made just for them.
3. Align sales and marketing
   • Create joint account plans. Sales and marketing should team up to create detailed plans for each target account. Define roles, responsibilities, and specific tactics for engaging each account.
   • Ensure regular communication. Hold regular meetings to discuss progress, share insights, and tweak strategies as needed. A unified approach ensures consistency and maximizes impact.

Three budget-friendly ABM techniques

1. LinkedIn advertising
   • Leverage targeted ads. Use LinkedIn’s targeting options to deliver ads directly to key decision-makers in your target accounts. Sponsored InMail and Sponsored Content work great.
   • Control your budget. Start with a small budget and optimize as you gather data on what works best.
2. Content syndication
   • Reach more people. Partner with platforms like NetLine or TechTarget to distribute your content more widely. This can significantly increase your reach without the high cost of paid ads.
3. Email marketing
   • Implement segmentation. Segment your email lists by account and personalize your messages. Tools like Mailchimp and Constant Contact can help manage these campaigns efficiently.
   • Try nurture sequences. Develop email sequences that guide your prospects through the buyer’s journey, providing valuable content at each stage.

Plus, you can also get creative—sometimes doing something very localized around a target customer’s HQ can get the kind of attention and results you want.

Three keys to measuring success

1. Track engagement metrics. Focus on KPI metrics like email open rates, click-through rates, website visits, and content downloads. These will help you understand how well your campaigns are resonating.
2. Review qualitative feedback. Gather feedback from your sales team about the quality of leads and the effectiveness of the ABM strategy. This will provide insights that numbers might miss.
3. Watch for account progress. Monitor the movement of target accounts through the sales pipeline. Increased engagement and shorter sales cycles are good indicators of ABM success.

Bonus: Sales enablement and better alignment

For ABM to work, sales and marketing need to be on the same page. This is where sales enablement comes in. You might want to check out our playbook on better sales and marketing alignment.

Develop sales playbooks

• Create playbooks outlining best practices, scripts, and resources for engaging target accounts. This ensures that both sales and marketing teams are aligned.
• Provide your sales team with a library of assets they can use at different stages of the buyer’s journey, like case studies, white papers, and customer testimonials.

Implement sales enablement tools

• Ensure your CRM is integrated with your marketing automation platform. This allows for seamless data sharing and a unified view of customer interactions.
• Regularly train your sales team on the latest tools, techniques, and insights. This keeps them equipped to handle the evolving needs of your target accounts.

What’s next for your business?

ABM can be a powerful strategy to revive your sales and marketing efforts, even on a tight budget. By focusing on high-value targets, personalizing your outreach, and aligning your sales and marketing teams, you can drive substantial revenue growth. Plus, integrating sales enablement practices ensures your teams work harmoniously, maximizing the impact of your ABM initiatives.

 

The road to recovery and growth might be challenging, but with a strategic ABM approach, it’s certainly attainable. CMD can help you get there. Schedule a meeting to connect and learn more.