Let’s face it, we’re in love with Account Based Marketing (ABM). Why?
It’s simple really. According to Forrester,

“ABM helps shift the advantage away from digitally empowered buyers by reapplying fundamental marketing principles like segmenting, targeting, developing rich customer insights, testing, aligning across channels, and acting in response to results.”

Source: Forrester’s Retro Yet Revolutionary: Demystifying Account-Based Marketing

In a nutshell, Account Based Marketing helps marketers and agencies actively participate and align with the sales process (I could feel your hackles rising just now, BTW). but it’s true—and it’s critical—because content marketing alone just isn’t getting the job done (I’ll explain more later).

We’ve heard the metaphor a thousand times “Content Marketing is fishing with a net, Account Based Marketing is fishing with a spear.” There’s nothing to say that the two are mutually exclusive, in fact—they’re both more successful if they supplement each other.

Given this, we’ve put together the following evergreen interactive infographic (evergreen because we’ll be adding to it every week for the next 6 months or so, interactive because you’ll actually be able to interact with it, and infographic… well—you get the idea).

We urge you to take a look and bookmark this page in your browser and check us out once a week. Don’t want to do that? Subscribe to receive notifications on when we push our weekly updates live. Lastly, help us out and share this infographic on your social channels.

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What is Account Based Marketing?

Depending on your source, you get a bit of a different flavor, but in essence, Account Based Marketing is the process of identifying the exact prospects you want as clients, and you market and sell to them specifically. Rather than leveraging content marketing to cast a wide net, you leverage content to drive and bolster specific one on one interactions.

Why Would My Company Use Account Based Marketing?

This data point on account based marketing was added on: 04/26/2017

200

More Revenue Generated

“We already target accounts—the sales team does that.” Yeah, sort of. But there’s been a disconnect between Sales and Marketing for so long—Account Based Marketing is quickly becoming the bridge on that chasm. And according to FlipMyFunnel, companies using ABM generate more revenue for their marketing efforts.

Source: FlipMyFunnel

ABM Helps Align Sales and Marketing

This data point on aligning sales and marketing was added on: 05/26/2017

“Organizations with solid alignment between sales and marketing teams gain 20% revenue growth on average, each and every year. Companies with poor internal alliance actually see revenue decline by 4%!” Says Sam Hurley, a top Global Marketing Influencer.
Account-based marketing can help align by bringing expectations of marketing and sales teams more in line than strictly inbound or content-based initiatives. In fact, according marktechtoday.com, companies engaged in ABM activities “have better alignment with sales, often close bigger deals with target accounts, and increase pipeline velocity.”

Content and Account Based Marketing Take Time

This data point on content marketing was added on: 04/26/2017

We know content marketing takes time, and so does ABM—but both are worth your investment. Based on a report by DemandBase in companies that have been leveraging ABM for a year or more, more than half of marketers saw a 10% increase in revenue, and 19% saw 30% or greater increase.

Source: Demandbase in eWeek

Revenue Increase of +10%
Revenue Increase of +30%

Your Customers (and Prospects) Still Trust You

This data point on customer trust was added on: 04/26/2017

Subject Matter Experts

39%
Websites

31%
Industry Analysts

31%
Sales People

26%
Peers

26%

For all the chatter (and reality) that B2C buyers don’t trust brands, B2B buyers still believe solution providers (and their SMEs) are one of the most credible sources of information during the purchasing processes, according to ITSMA. So, if you’re not creating content that establishes credibility, authority and a trusted relationship, you’re missing a huge opportunity to support your ABM efforts. 

Source: ITSMA

It Takes a Village…

This data point on influencers was added on: 04/26/2017

We’ve always had clients who need to “talk to someone to get sign off” before they can proceed. That hasn’t changed. What’s changed is how many people need to know sign off to get projects moving and purchases made. The actual break down varies by source and study, but based on this article in HBR, you now have to deal with 5.4 (6 if you don’t believe in .4 people), to get your product or service sale closed.

Source: CEB in Harvard Business Review

5.4

Total Purchase Influencers

…And it’s a Village You Can’t Ignore

This data point on influencers was added on: 04/26/2017

40

Better Chance of Success

Within these influencers, you’ll face a number of very different decision makers. According to HBR.org, from Go-Getters to Blockers, you’ll face a variety of different viewpoints and motivators when engaged in ABM and sales. But you can decrease your chance of failure since tailored content at this stage can improve your chances of success by 40%.

Source: CEB in Harvard Business Review

And They’ll Be Smart Before They Ever Talk to You

This data point on online research was added on: 04/26/2017

Those of us in content marketing (about 90% of marketers), are familiar with the “your buyer is more educated than ever—they’ve practically read half the internet before talking to you.” And this is why content marketing is such a key part of the ABM process. Since about 3/4 of business buyers have done more than half their research online before making an offline purchase (Forrester), it’s more critical than ever that you engage each of these individual users with very specific, targeted content.

Source: Forrester

Have Completed More Than Half of Their Research Online

It’s Going to Take You 7+ Marketing Touches to Generate a Qualified Lead

This data point on content marketing was added on: 05/04/2017

One of the biggest challenges we face is aligning marketing qualified leads (MQL) and sales qualified leads (SQL). This alignment is key to your marketing team, because SQLs have a higher chance of being “accepted” by sales and of being converted into sales. According to the Online Marketing Institute, there are four pieces of information you need to provide on a prospect to consider it an SQL: Budget, Authority, Need, and Timeframe—or BANT Data.

Source: Online Marketing Institute

Research is Proportionate to the Price

This data point on buyer journey was added on: 04/26/2017

90

Of Buyers Increase Research as Purchase Price Increases

Makes sense, doesn’t it? The more something costs, the more your buyer is going to research it. This means that the more you charge, the more you need to coach and teach your buyer throughout their buyer journey. If you’re selling a $5 a month SaaS solution, a five-page website might be enough. But if you’re selling a complex and expensive solution with many moving parts and a SAP level price-tag, plan on developing a detailed and specific content and AMB marketing strategy.

Source: Salesforce

You’re Already Halfway There with Content Marketing

This data point on marketing strategy was added on: 04/26/2017

90% of companies are already doing some sort of content marketing. And because everyone is doing it, it’s getting harder and harder to “win” at it. And since content marketing is at the core of ABM, it’s more important to be smart about what you’re doing. Job to be Done Analysis, Adaptive Personas, and Competitive Content Analysis are critical tools in developing a more targeted strategy, regardless of your approach.

Source: Content Marketing Institute’s B2B Content Marketing 2017 Benchmarks, Budgets, and Trends—North America

Of Marketers are Engaged in Content Marketing

Identify Your Target Accounts: Your “Ideal Customer”

This data point on ideal customer was added on: 05/10/2017

Many companies struggle with Account Based Marketing for the same reason they struggle with inbound marketing—they focus too closely on developing personas and not enough on developing the account, and the problem the account is looking to solve.

By focusing too closely on a persona (typically generated through brainstorming and an advanced LinkedIn search) at this stage, you may miss the exact nature of the customer’s need—and miss how you can position your company as the solution for it.

Don’t get us wrong, we aren’t suggesting that you NOT create personas, but before you do, you must dig into the specific challenge your customer is facing right before they identify a solution. This helps avoid mis-identifying buyers, and helps you identify ideal customers.

An ideal customer is not a person, but an actual business or organization. You’ll want to consider a number of key characteristics of a business struggling with the problem you solve:

  • Industry
  • Size (revenue, headcount, etc)
  • Geography
  • Level of business maturity (growth, mature, decline)
  • Job to be done (in their own words) the particular problem they are struggling with that you can solve (the “job” they “hire” your product to do)

By looking at your business through the eyes of an ideal customer, you can position your company and ABM in a way that leads them directly to you—and only you.

Depending on your business, you may have a number of ideal customers. Once these are defined, you can proceed to creating adaptive personas and purchase influencers.

Source: Bill Schick, Founder and CDO of MESH

So Don’t Leave Them Wanting

This data point on content marketing was added on: 04/26/2017

65

Of Buyers Walk Away

According to McKinsey, 2/3 of buyers will walk away from the process because they are frustrated with inconsistent experiences. These might include being told one thing and experiencing or learning another on your website or in your content, levels of access to the right types of content at the right stage of the buyer journey, or even disconnects across your platforms (search and social).

Source: McKinsey

3 Ways to Personalize Marketing When You’re Leveraging an Account-Based Marketing Strategy

This data point on personalizing account-based marketing was added on: 05/19/2017

Account-Based Marketing is all about targeting very specific accounts—and delivering highly personalized content every step of the way. Here are 3 quick ways you can start personalizing your content today.

1. Account-based Advertising

Featured on Mark Schaefer’s {grow} blog, account-based advertising “should build on your account-based marketing approach, including insights that allow you to deliver the most appropriate message to each company, based on everything from industry to the status of each company in your sales pipeline.” Facebook, in particular, has some powerful and mostly untapped tools for delivering highly targeted and personal advertising to B2B prospects.

2. Sales Enablement Personalization

Different companies have different sales enablement toolkits. Some have dedicated sales apps on mobile devices, some leverage dynamic content like PDF case studies, while others have more traditional printed brochures with stock photos. Empowering your sales team with tools that can be personalized (even with simple form fields within documents) can dramatically improve engagement with prospects.

3. True Website Personalization

You’re probably thinking “here we go again, pop a name into a page on the website and welcome visitors back”. Think again. We recently completed a personalization project for a global business school that leveraged anonymous website traffic to build and map dynamic personas to the user experience—ultimately delivering not just specific messaging based on that persona, but dynamic content types as well. Different user types want more than just personalized messaging—they want it in the form and medium of their preference.

Account Based Marketing Next Steps

ABM is clearly worth the effort. Given the time and resources it takes to make it a success, it’s important to have a strategy for it in place. Additionally, it’s critical to do your homework, and make sure you’re not getting lost in the sea of content.
Do you have an ABM and Content Marketing Strategy in place? If not, and you’d like to talk about what it takes to get one up and running, contact us today. If you have a strategy in place, and want to add fuel to the fire, let’s talk about that too!