The Importance of Account-Based Marketing in B2B Businesses

Businesses seeking to stand out and succeed in marketing may need to adapt new strategies. Account-based marketing allows your business to target the most valued accounts, attracting more business interest in your products and services. 

This marketing strategy focuses on particular accounts for a more targeted approach rather than trying to appeal to a broad group. Businesses that use this approach will create more effective marketing campaigns and close more deals. 

What is account-based marketing for B2B?

Account-based marketing (ABM) — also called key account marketing — focuses on identifying and engaging with particular high-value accounts rather than casting a wide net. This targeted outreach approach involves developing marketing approaches that meet the requirements of every account. 

Account-based marketing aims to spark interest among large account holders and convert them into customers. This approach involves using several channels to target multiple stakeholders within a single account. 

Why is account-based marketing for B2B important?

B2B companies operate on longer sales cycles where multiple stakeholders must make decisions before adopting your product or service. Adopting an ABM strategy allows companies to meet these challenges and achieve marketing success. Here are a few reasons why advertisers should consider ABM. 

1. Personalization

Personalized marketing involves tailoring messages and experiences to individual customers or accounts. Account-based marketing uses personalization to create more relevant and effective communication. 

With ABM, you can target unique pain points among each target account. This approach shows you understand your customers and have specific solutions that meet their needs. 

Using account-based marketing, you will create content, send personal emails, make phone calls, and deliver direct mailings that engage key decision-makers within accounts to achieve stronger relationships. 

2. Lead generation and conversion

ABM involves identifying key accounts that best fit your products and services. Once you find these accounts, you create coordinated sales and marketing campaigns to reach these accounts. 

These coordinated and targeted strategies improve your chances of gaining qualified leads, which are more likely to convert into paying clients. A higher number of qualified leads creates a higher percentage of converted leads who close the deal. 

3. Customer satisfaction and retention

B2B companies that use ABM focus on building solid, long-term relationships with their high-value accounts. These customers appreciate the effort given, leading to higher levels of satisfaction and customer retention. 

ABM also improves customer lifetime value, the monetary value customers contribute to your business over time. You will better share your value by speaking directly to customers and their needs. You focus on a few high-value accounts, allocating your resources to create more value for them. 

4. Efficient resource use

Your B2B company likely has a limited budget for marketing. Given your budget, you want to increase the value of each dollar you spend. 

Account-based marketing gives you a structured strategy, allowing you to focus your resources on the accounts that drive the most value. Creating targeted marketing for these valuable accounts means achieving better results from your marketing campaigns. 

You’ll achieve a better return on investment  (ROI) for your marketing because you focus your marketing efforts — and budget — on a small group of high-value accounts, rather than a broad group less likely to convert. 

5. Sales and marketing alignment

In B2B, sales and marketing must have a close relationship. These two teams work together to bring in new accounts. Marketing focuses on attracting new customers, while sales closes deals to get paying customers. 

ABM gives both teams a shared focus and set of goals. The teams must work closely to identify target accounts and develop effective communication and outreach. They also work together to monitor marketing progress for ongoing adaptations and improvements to their strategy.

How B2B companies can start using ABM?

Given the vital role account-based marketing plays in everything from personalization to conversions, consider implementing this strategy in your business with the following steps:

• Identify accounts: Research accounts that best fit your product or services before you begin your marketing efforts. You may find new prospects or current customers who could get more value from your offerings. 

• Develop a plan: Gather your sales and marketing teams to create a plan to reach and engage the accounts you targeted. The plan should include the particular responsibilities each team holds. 

• Create content: Generate content like webinars and white papers that speak to the needs and challenges of your target account. For the highest chance of success, content must be personalized and relevant. 

• Engage with accounts: Content makes accounts come to you, but outreach allows you to go to them. Use phone calls, emails, or direct mailings to engage with target accounts. Whatever contact method you use, personalize it based on the account.

• Track and measure: ABM, like any marketing strategy, must have clear success metrics. Track key performance indicators for ABM like open rate, click-through rate, conversion rate, customer lifetime value, customer acquisition cost, sales velocity, and churn rate. 

• Adjust tactics: Adapt your ABM strategy based on your metrics. You might identify new accounts, develop different content ideas, or change how you engage with accounts. 

Seize the benefits of account-based marketing with WebUp

Account-based marketing creates value for B2B companies by providing a targeted approach for more personalized marketing, better customer satisfaction, and higher ROI. Despite its many benefits, this marketing strategy comes with some challenges, like extensive upfront research and the need for personalized content. 

Our team at WebUp provides account-based marketing to help you overcome these challenges and seize the full benefits of this targeted marketing strategy.

Get started today by contacting us online for a proposal.