Marketing is a crucial contributor to your company making it. So when you meet to discuss improving your business and increasing sales, they should be a vital opponent of the agenda.
Applying the proper strategies will give you the best results. Get to know about account based marketing 101 and how it can increase your sales significantly.
Account-based marketing is an approach that targets specific customers or clients. For it to be a success, here are some guidelines that will help you apply it in your business:
Before you begin using this strategy, knowing what you seek to achieve is essential. Having a goal will help you with all the other steps throughout the account-based approach because it determines how you will apply it.
With ABM, you need to identify specific consumers you want to sell to. Depending on your goal, narrow down those that will help you achieve it. If, for example, you want an increase in investment, your team will focus on an existing customer with the potential to invest more.
A few things you must consider when selecting a target client or customer are; the ROI, how you will add value to them, and your budget.
To successfully apply this strategy, the marketing team must work with the sales team. It is essential to include them because they interact more with customers and potential ones. They bring in their knowledge of the clients, including their potential, needs, and structures.
Because your target is a specific group or customer, customize the marketing campaign to meet their needs. Make sure that your solutions to their needs add value to them. Some of the channels you can use include;
- Having a luncheon or dinner with target prospects
- Sending direct personalized emails to them
- Inviting them to special events such as your anniversary or when launching a new product.
- Tailored gifts
Since you have researched the potential customers and customized the campaign to suit their needs, you will most likely close a sale.
ABM is set to bring in the most profit compared to other strategies because it is clear, intense, and direct. Handling a small or similar group of customers makes it easier to tailor a solution that will add value to them or their business, making returns for yours.
It takes less time to achieve your goals, be it closing sales or gaining partnerships with account-based marketing. You do not have to talk to the masses and eventually get the few interested, which could take a long time.
With this strategy, you have sorted the ones that are most likely to become a consumer. Selling your product or service to them will take less time.
Using the account-based approach is fruitful, but it also has challenges, such as; aligning the sales and marketing department’s goals. Changing from traditional strategies can also take some time to adapt. However, you can reach out to our agency for guidance on the whole process.