Everything you wanted to know about ABM but were too afraid to ask

Whether you're an ABM pro looking to deepen your knowledge, or you're new to the concept and keen to learn, this guide is for you. We've created this resource to help anyone interested in ABM, regardless of their current level of understanding.

Here's a handy definition to get us started: "An account-based marketing (ABM) campaign is a highly targeted strategy where marketing and sales teams collaborate to craft personalised engagement plans for specific high-value accounts. This approach involves tailoring messaging, content, and interactions to the unique needs and pain points of each target account, aiming to build deeper relationships and drive meaningful business outcomes. ABM campaigns focus on precision and alignment, transforming key accounts into strategic partners through bespoke, data-driven initiatives." In short, Account-Based Marketing (ABM) is a strategy that targets specific customer accounts with personalised marketing campaigns.

We're glad you're here and excited to help you navigate the world of ABM. Let's dive in!

When should I use ABM?

ABM shines when a business seeks to connect with high-value accounts that hold great potential for growth or strategic alliances. It proves especially powerful in intricate sales landscapes involving multiple stakeholders, where personalised engagement can make a real impact. It's ideal for scenarios where traditional marketing methods fall short, as it focuses on precision and relevance, aligning marketing efforts with the specific needs and goals of targeted accounts.

You should utilise ABM to enhance engagement with key accounts, drive higher conversion rates, and foster stronger, more valuable relationships, especially when seeking to maximise the impact of your marketing investments in high-stakes scenarios.

How to do ABM

Identifying targets

Kick things off by diving into your existing customer data. Seek out those accounts showing high potential based on factors like company size, industry relevance, and growth prospects. Compile a list of top-tier accounts that not only meet these criteria but could also significantly benefit from your offerings. Remember, each group of similar accounts will require a unique approach.

Creating a personalised approach

Next, tailor your messages and content to meet the specific needs and challenges of each account group. This means getting to grips with their unique business hurdles and crafting communications that offer relevant, timely solutions. The insights you gain from your research will make your outreach efforts more impactful and relevant.

Engaging across multiple channels

Don't limit yourself to one channel. Reach out to your target accounts through multiple avenues - email, social media, phone calls, direct mail - to increase your chances of effective engagement. Use each channel to reinforce your message and ensure it lands with the account through their preferred communication methods.

What are the key components of an ABM strategy?

Account segmentation: Start by grouping your accounts based on their potential value and alignment with your business. This could involve categorising accounts by industry, company size, or revenue potential. Prioritise these segments to focus your efforts where they can make the most difference.

Content creation: Develop content that is specifically designed for each account or segment. This might mean crafting customised case studies, tailored whitepapers, or personalised email campaigns. Your goal? To create content that resonates with the interests and needs of your target accounts.

Engagement tactics: Finally, decide on the most effective methods to interact with your key accounts. This could involve personalised outreach, such as custom emails or targeted social media interactions. Make sure your engagement tactics align with the preferences of each account and are designed to build strong, lasting relationships.

Tips for implementing an ABM campaign

Planning the launch: Begin by setting clear campaign goals and pinpointing the accounts you wish to target. Once you've done that, it's time to develop your messaging and content, and lay out your outreach plan. With everything in place, you can kick off the campaign, keeping a close eye on its progress at regular intervals.

Utilising tools and technologies: Make your life easier by harnessing tools and technologies that can help you manage and track your ABM activities. This might include CRM systems, marketing automation platforms, and analytics tools. Choose tools that not only fit your needs and budget, but also integrate seamlessly with your existing systems.

How to measure the success of your ABM campaign

To gauge the effectiveness of your ABM campaign, keep an eye on key metrics such as engagement rates, response rates, and conversion rates. Remember, "conversion" can mean different things for different companies; it could be a sale, a lead, or a meeting appointment. Whenever possible, measure the ROI of your campaign to determine its overall success and impact on your business. We know this can sometimes be challenging, but you can always manually attribute a value to each action to help optimise your activities.

Challenges and solutions

Running an ABM campaign isn't always smooth sailing. You might face challenges like aligning objectives between marketing and sales teams, managing budgets, and choosing the right tools. Other hurdles include measuring success and scaling strategies effectively. 

Here's a quick rundown of the challenges we have seen people encounter:

• Aligning objectives between marketing and sales teams.

• Allocating budget for ABM activities.

• Selecting the best tools and technologies.

• Regularly measuring and reporting outcomes.

• Developing scalable ABM approaches.

• Managing resource distribution.

• Allocating the right amount of time.

• Using appropriate platforms and creatives (remember, recycling is great for the environment, but not for ABM!)

To address these challenges, a few key actions can make a significant difference.

• Clear communication: Ensure there's clear communication between marketing and sales teams right from the start. Regular meetings, shared objectives and collaborative planning sessions can help align both teams' efforts.

• Data-driven budgeting and tool selection: Use data to guide your decisions, whether it's about budget allocation or tool selection. This will ensure your choices are not just based on intuition, but are backed by solid evidence.

• Regular performance review: Don't just launch your campaign and hope for the best. Regularly review and adjust your campaign based on performance metrics. This will allow you to identify what's working and what needs improvement.

• Scalability planning: Plan for scaling your strategies as your ABM campaign gains traction. This could mean investing in more advanced tools, allocating more resources or expanding your targeted accounts list.

• Time allocation: ABM campaigns are not a quick fix, they require time to develop and mature. Don't rush the process, but also don't be afraid to make changes when the data suggests it's time.

Remember, every challenge is an opportunity to learn and grow. By proactively addressing these obstacles, you can refine your ABM strategy and drive more successful outcomes.

Conclusion

A successful ABM strategy requires careful planning, execution, and continuous optimisation. It's essential to remember that ABM campaigns are not quick wins. They require time, and their success depends on the collective efforts of multiple decision-makers, not just one individual. According to the latest LinkedIn insights (#b2believe2024 London), 80% of deals are approved by people who are already familiar with a brand. This emphasises the importance of building strong, recognisable brands and nurturing relationships with key accounts.

Here are the top tips to keep in mind:

• Focus on the right accounts: Target high-value accounts that align with your business goals and offer growth potential.

• Personalisation is key: Tailor your content and engagement to address the specific needs and pain points of each target account.

• Leverage multi-channel approaches: Increase your touchpoints by engaging with accounts across various channels such as email, social media, and direct calls.

• Track, measure, and optimise: Continuously track performance metrics, such as engagement and conversion rates, and adjust your strategy based on data.

• Align marketing and sales: Ensure both teams are working in harmony with shared goals and regular communication for the best results.

Having made it this far, you're now equipped to utilise our template, craft your unique strategy, and kickstart a successful ABM campaign! But if you want more hands-on help with creating the perfect ABM campaign, you’re welcome to reach out and discuss your needs with one of the team – we’d be happy to assist!