Introduction

Account-Based Marketing (ABM) is a highly targeted approach to B2B marketing that involves identifying high-value accounts and coordinating personalized campaigns to engage key decision-makers. ABM has gained popularity because it can lead to higher conversion rates and revenue growth. In this blog post, we will provide you with a step-by-step guide to purchasing effective ABM practices that can help you achieve your sales goals.

Why ABM is important for businesses?

ABM is important for businesses because it enables them to focus their marketing efforts on accounts that are most likely to generate revenue. Instead of casting a wide net, businesses can precisely target their efforts and increase the probability of success. By aligning marketing and sales efforts with target accounts, businesses can create a more personalized experience for each account and build stronger relationships with decision-makers. ABM can also lead to upselling and cross-selling opportunities with existing accounts, which can result in increased revenue.

Step-by-step guide for purchasing effective ABM practices

• Step 1: Define your ABM goals - Before you begin your ABM program, it's important to define your goals. Determine what you want your ABM program to accomplish, such as generating more leads, increasing revenue, or targeting specific accounts.


• Step 2: Identify your target accounts - Knowing which accounts to target is critical to the success of your ABM program. Consider the size of the account, their industry, their location, and their potential value to your business.


• Step 3: Develop your ABM strategy and tactics - Once you have defined your goals and identified your target accounts, develop your ABM strategy and tactics. This includes identifying the right channels to reach your target accounts, creating personalized messaging, and developing account-specific experiences.


• Step 4: Choose an ABM platform - There are many different ABM platforms on the market, and it's important to choose one that aligns with your goals and strategy. Consider factors such as the platform's features, ease of use, and cost.


• Step 5: Implement and measure your ABM program - Once you have chosen your ABM platform and developed your strategy, it's time to implement and measure your program. Use tools such as tracking pixels, lead scoring, and pipeline reporting to measure the success of your program and make adjustments as needed.

By following these steps, you can purchase effective ABM practices that are tailored to your business and help you achieve your sales goals.

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Step 1: Define Your Ideal Customer Profile (ICP)

Before embarking on your account-based marketing (ABM) journey, it's important to define your target audience. This includes creating an Ideal Customer Profile (ICP) that outlines the company characteristics and buyer personas that you want to target.

What is an ICP?

An Ideal Customer Profile (ICP) is a detailed description of the company and buyer personas that your sales and marketing teams want to target. This includes characteristics such as company size, industry, location, revenue, and even specific job titles that are most likely to engage with your product or service.

Creating an ICP is important because it helps you focus your resources on high-value accounts that are most likely to convert, freeing up time and money that may have previously been spent on accounts that are not a good fit for your product or service.

Tips for creating an effective ICP

• Use data to inform your ICP. Analyze your existing customer base to see which accounts are the most successful and have the highest revenue potential. Look for common patterns and characteristics among these accounts to inform your ICP.


• Involve key stakeholders in the creation of your ICP. This includes sales, marketing, and customer success teams. Each team may have different insights and perspectives that can inform the creation of a more effective ICP.


• Be specific and detailed in your ICP. The more specific you are in your ICP, the more effective your ABM efforts will be in targeting the right accounts and buyers.


• Regularly revisit and update your ICP. As your business and market evolves, so too should your ICP. Regularly revisit and update your ICP to ensure that it remains relevant and effective.

By defining your ICP, you can create a focused and effective ABM strategy that targets the accounts and buyers most likely to convert, ultimately leading to more successful sales and marketing outcomes for your business.

Ready to move onto the next step? Check out our guide on Step 2: Develop your ABM tactics!

Step 2: Identify Target Accounts

At this stage, you should have a clear understanding of your ideal customer profile (ICP). Your ICP forms the foundation of your ABM strategy by ensuring that you target the accounts most likely to become your customers. Here's how to use your ICP to identify the accounts you want to target:

Use Your ICP to Identify Target Accounts

Start by creating a list of accounts that fit your ICP. This may include accounts that you're already working with, accounts you've identified through research, or accounts that your sales team has flagged as potential targets.

When creating your list, consider both firmographic and technographic data points. These may include factors such as industry, company size, revenue, technology stack, and more.

As you create your list of target accounts, be sure to prioritize them based on factors such as revenue potential, perceived fit with your business, and likelihood of success. Consider using a scoring system to help you prioritize.

Use Data to Inform Your Selections

Data plays a crucial role in the account selection process. Use tools such as ExactBuyer to gain insights into your target accounts, such as recent news, funding rounds, and leadership changes. This can help you prioritize your list and prepare for outreach.

Additionally, use data to track engagement with your target accounts. This may include tracking website activity, email opens and clicks, and social media engagement. Use this data to refine your targeting and ensure that you're engaging with the right accounts at the right time.

Overall, by using your ICP to identify target accounts and leveraging data to inform your selections, you can create a targeted ABM strategy that's more likely to deliver results.

Step 3: Develop a Personalized Strategy

Personalization is vital in Account-Based Marketing (ABM), as it enables you to target your communications and messages to the specific interests and needs of your target accounts. This makes your outreach more relevant and engaging, and increases the likelihood that your prospects will respond positively to your efforts.

When developing a personalized strategy, it's crucial to research your target accounts thoroughly to understand their pain points, goals, and priorities. This research will inform the messaging, channels, and content you use, and help you tailor your approach to the individual needs of each account.

Here are some tips on how to develop a personalized strategy in ABM:

1. Align with Sales Teams

It's essential to work closely with your sales teams to develop an effective personalized strategy. They can provide valuable insights into the needs and pain points of your target accounts, which can inform your messaging and content. By aligning your ABM efforts with sales, you can ensure that you're targeting the right accounts, with the right messages, at the right time.

2. Conduct in-depth research

Thorough research is crucial to developing a personalized strategy in ABM. You need to understand your target accounts' priorities, challenges, goals, and pain points. This information will help you tailor your approach to their specific needs, and create messaging and content that resonates with their unique situations.

3. Segment your audience

When developing a personalized strategy, it's essential to segment your audience based on their needs, interests, and behavior. This segmentation will enable you to create targeted messaging and content that speaks directly to the needs and interests of each group.

4. Use the right channels and tactics

When implementing your personalized strategy, you need to use the right channels and tactics to reach your target accounts. Consider the channels your target accounts use most frequently and the types of content that resonate with them. This might include email, social media, webinars, or even direct mail.

Overall, developing a personalized strategy is critical to the success of your ABM efforts. By aligning with your sales teams, conducting in-depth research, segmenting your audience, and using the right channels and tactics, you can create messaging and content that resonates with your target accounts and drives results.

Step 4: Choose the Right ABM Tools and Technology

In this stage of the Buy ABM practices guide, we will cover the importance of choosing the right ABM tools and technology for your specific needs. There are various types of ABM technology available, and selecting the right one is crucial for achieving success with your ABM strategy.

Overview of the Different Types of ABM Technology Available

Before choosing an ABM tool or technology, it's essential to understand the different types of ABM processes. There are three main types of ABM, namely:

• One-to-one ABM


• One-to-few ABM


• One-to-many ABM

Depending on the type of ABM you have chosen, you will need different ABM tools and technology to execute your ABM strategy successfully. Therefore, it's crucial to research the available options to determine which tools align with your needs.

How to Choose the Right Tools for Your Specific Needs

To choose the right ABM tools and technology, consider these points:

• Identify your ABM goals


• Determine the size of your target account list


• Analyze your data and technology stack


• Compare and evaluate ABM tools and technologies

By identifying your ABM goals and analyzing your data and technology, you can determine the right ABM tools and technology to execute your ABM strategy.

Key Features to Look For

When selecting ABM technology, pay attention to these crucial features:

• Data quality and accuracy


• Data integration with your CRM or marketing automation platform


• Predictive analytics and targeting capabilities


• Ad targeting and retargeting features


• Account-based reporting and analytics

By choosing ABM tools and technology with these attributes, you can ensure a more streamlined and efficient ABM program.

Step 5: Align Your Sales and Marketing Teams

One of the essential elements of a successful account-based marketing strategy is aligning your sales and marketing teams. When both teams are aligned, they can work together to target high-value accounts, personalize messaging, and ultimately drive revenue. In this section, we'll explain the importance of alignment between sales and marketing teams in ABM, and provide tips on how to achieve it.

Importance of Alignment between Sales and Marketing Teams in ABM

The alignment between sales and marketing teams is critical in an account-based marketing strategy. When both teams are working towards shared goals and priorities, they can create more personalized and effective campaigns targeted at specific accounts. When sales and marketing focus on the same accounts, they can provide more value to those accounts and create meaningful interactions that help to move them through the sales funnel.

Additionally, alignment between sales and marketing teams helps eliminate silos that can slow down the sales cycle. When both teams understand the different touchpoints a prospect has had with the business and are on the same page about the messaging and materials used, they can create a seamless experience for the prospect.

Tips to Achieve Alignment between Sales and Marketing Teams in ABM

• Set Shared Goals: Ensure both sales and marketing teams have aligned goals that focus on the same accounts and the key stages of the sales funnel. This will encourage a team-oriented mindset and help eliminate any potential misalignment.


• Regular Communication: Encourage regular communication between sales and marketing teams to maintain alignment. Schedule weekly or monthly meetings to discuss the status of target accounts, what's working well, and areas that require optimization.


• Shared Data and Insights: Implement a shared platform that allows both teams to access and analyze data related to target accounts. This will provide valuable insights that can improve the chances of success.


• Joint Planning: Encourage joint planning for campaigns and events to ensure that messaging, materials, and targeting are consistent across both teams. This will help create a seamless experience for prospects and increase the likelihood of success.

Alignment between sales and marketing teams is crucial to the success of any ABM strategy. By ensuring both teams have shared goals, communicate regularly, share data and insights, and encourage joint planning, you can create a cohesive and effective approach that improves your chances of success.

Conclusion

The key to successful ABM is to build a solid foundation with effective practices and then constantly optimize and measure your efforts. Here are the key steps to buying effective ABM practices:

Step 1: Define Your Goals and Ideal Customer Profile

• Clearly define your goals for ABM


• Identify your ideal customer profile

Step 2: Build Your Target Account List

• Use your ideal customer profile to create a list of target accounts


• Consider buying or using a data provider for more accurate account information

Step 3: Develop Your Content and Messaging Strategy

• Create personalized and relevant content for each account


• Develop a messaging strategy that speaks directly to your target accounts

Step 4: Select Your Channels and Tactics

• Choose the channels and tactics that best fit your target accounts


• Ensure your messaging is consistent across all channels

Step 5: Measure and Optimize Your Campaign

• Set clear metrics and KPIs for success


• Analyze your campaign performance regularly and optimize accordingly

Remember, effective ABM is an ongoing process that requires constant attention and optimization. By following these key steps and consistently measuring your efforts, you can achieve success with ABM.

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