Insight
How Martech can Enhance Your Account-Based Marketing Strategy
31 December 2024 Marketing Technology
Marketing is under increased pressure to prove ROI. Sales needs more qualified leads, CFOs are demanding accurate revenue forecasts, and customers expect personal attention. B2B marketers might have it hardest with buying groups needing more nuanced messaging, pipelines typically longer than most, and successes often harder to attribute. Sound familiar? Here’s a step-by-step guide on how account-based marketing – with the right technology – could be your solution.
Table of contents
It’s easy to feel buried by the flood of tips, tools, and techniques – not to mention tech – claiming to solve marketing and sales misalignment. But most only scratch the surface. They address symptoms without fixing the source. Real alignment between marketing and sales requires a strategy focused on building customer-centred revenue. A considered account-based marketing strategy – one aligned with business goals, enabled by organisational efficiency, and supported by the right martech – can do just that. With the right combination of process, data, people and tech, sales and marketing teams can turn customer-centric strategy into a dynamic and highly effective ABM model, reaching key accounts and driving meaningful value.
What is Account-Based Marketing, Really?
Account-based marketing (ABM) is a B2B strategy whereby marketing and sales teams focus on nurturing specific accounts to create meaningful engagement with ideal customers.
ABM treats a set of high-value accounts as unique “markets of one.” Instead of following a traditional marketing funnel, ABM is built around the needs of individual accounts. This makes every interaction intentional and valuable. By zeroing in on specific accounts, you can strengthen relationships, improve efficiency and boost ROI by up to 97%.
Why Effective Teams are (Re)Turning to ABM
ABM isn’t new. Its legacy stretches to the early 1990s when personalised marketing emerged. Unfortunately, it endured ups and downs and eventually got a bad rap. You might still have the battle scars from trying to roll out an account-based strategy, only to find it was too expensive, time-consuming or ineffective. But several factors have led to ABM’s revival:
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- More powerful B2B marketing software
- Better data tracking and analysis capabilities
- Focus on data-driven business decisions
- Growing customers’ demands for personalisation
- Rising competition in every industry
Times have changed. Customers are more open to ABM, executives are more invested in data-driven approaches, and modern martech is better tooled for collaboration.
Is ABM worth it?
Account-based marketing isn’t easy to get right. For most organisations, it requires a fundamental shift in the way marketing and sales align internally and communicate externally.
But the benefits are compelling:
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- Targeted communication for your highest potential accounts
- Efficient resource allocation
- Relevant, valuable content
- Higher engagements rates
- Richer CRM data
- Unified sales and marketing approach
A recent ABM Leadership Alliance survey of 420 B2B marketers highlighted ABM’s benefits:
- 71% improvement in relationships.
- 55% improvement in revenue.
- 34% improvement in reputation.
Three-quarters (76%) of marketers reported that ABM delivers “Somewhat” or “Significantly” higher ROI than traditional marketing efforts. Despite these advantages, only 13% of companies have an embedded ABM program (HubSpot puts the figure closer to 25%).
It’s never too late to transform your marketing. These six steps can help you build an ABM strategy centred on delivering value in every interaction.
How to Build a High-Impact Account-Based Marketing Program
Start With Strategy
ABM helps you filter out the noise in your market and focus on high-value prospects. But you need a strategy to know which accounts are worth focusing on, and which are distractions.
Before launching an ABM initiative, align your teams with a clear and targeted strategy:
- Establish shared targets to encourage collaboration
- Analyse current processes to find bottlenecks and improvement opportunities
- Detail roles and responsbilities across the customer journey
- Develop and document workflows, from first contact to nurturing to lead hand-off
This might be easier said than done, depending on your company’s appetite to change, but buy-in from the broader organisation is essential.
Identify High-Value Accounts
Use your data sources to find the accounts that match your ideal criteria, considering firmographic and behavioural factors like:
- Industry
- Revenue
- Operating market
- Likelihood to purchase (or purchase again)
- Potential profit margin
- Influence within their market
There’s no overstating the importance of good quality data. Size doesn’t always equal value. Test your ABM program with a select group of high-potential accounts to refine your approach.
Increasingly, ABM tech vendors are offering databases to help you pinpoint accounts worth targeting. You can also use tech to predict which accounts (new or existing) could be quick wins, upsells, cross-sells or high-effort.
Align Sales and Marketing Around Value-Adding Interactions
Effective sales and marketing alignment means teams work together, creating a smoother experience for both clients and prospects. In practice, this looks like:
- Definition of shared goals and aligned strategies
- Agreement of lead criteria
- Automation of lead tracking and scoring
- Streamlined lead-handling processes
- Interdepartmental alerts to high-value prospects
ABM relies on timely, personalised content. Marketing and sales misalignment makes this difficult and results in an underwhelming customer experience.
Develop Tailored Content
Content is at the core of an ABM strategy. Technology makes it easy to segment audiences – but it’s what you do with those segments that unlocks value.
- Build narrow audience segments
- Leverage smart list features to automate targeting
- Use dynamic content to personalise messages at scale
- Think critically about calls-to-action
- A/B test content optimisations to learn what your audience engages with
The goal is to deliver highly targeted, valuable content without needing to individually craft every message. And it works – according to McKinsey, 71% of customers want brands to personalise interactions.
Choose the Most Effective Communication Channels
Moving from mass marketing to targeted messaging means identifying the channels that matter most. Develop lead scoring models specific to your ABM strategy and use them to guide your content toward high-value channels. For example, your business might decide that webinar attendance is a stronger indication of buying readiness than LinkedIn engagement. Activating campaigns where you know there is most value makes for better customer experiences and greater ROI.
Measure, Evaluate and Optimise
Stay agile and data-informed. Use technology to track interest and conversion, helping sales and marketing to measure effectiveness and optimise for interactions that drive the most value or fix underperforming strategies. Marry your insights to the shared goals you agreed at the start to keep you focused. Technology can provide a value-adding shortcut, automatically flagging behaviour that indicates interest and providing sales teams with actionable insights they can use to close more deals.
Collaboration between marketing and sales teams is mission-critical here at the pointy end. Tactics like A/B testing content, aggregating account data, and accessing predictive insights can all help to reach the shared goals established in step 2. Use the data and insights surfaced by your ABM software to determine which activities are valuable before testing new approaches.
Remember: it all comes back to delivering customer value. With a solid strategy, internal alignment, a focus on exceptional B2B customer experiences, and the right software, you can deliver an effective ABM program that grows revenue and builds the business.