There is no doubt that account-based marketing for large companies is very important. When used strategically, it can benefit the entire organization from top to bottom.
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May 14, 2021
4 min read
Opinion expressed by entrepreneur The contributor is yours.
There are thousands of articles, webinars, and infographics detailing all the benefits of an account-based marketing (ABM) strategy. However, for large enterprises, resources are scarce. If the company’s marketing and sales departments are starting a pilot program or looking to improve their current ABM tactics, they won’t find many remedies for specific grievances or find evidence to support ABM with their go-to-market strategy.
Instead, you can find common ABM rules and practices targeting small and medium-sized businesses. B2B companies of various sizes may have a similar approach (higher goals and personalization) to ABM, but large corporations have different expectations, challenges and goals for their ABM programs.
There is no doubt that account-based marketing for large companies is very important. When used strategically, it can benefit the entire organization from top to bottom. Here are four ways large companies can use ABM to increase revenue and expand their marketing success.
1. ABM can improve security and customization.
We’ve all seen it before. You are in a large company and the number of technical obstacles you face seems endless. It is one after another. The CRM that the CMO intends to use has not been approved by the financial institution. Currently, content marketing platforms do not promote scalability. Most commonly, IT departments do not approve third-party integrations due to recent security breaches.
Fortunately, ABM can still run. The team just needs to think outside the box. Large companies with the right resources and integrated technology stack can use microsites to run ABM campaigns. Microsites can also be personalized and tailored for each target account to increase security (because third-party tools do not have access to the company’s main sites), but also to increase engagement.
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2. ABM helps you better understand your prospect’s buying journey.
Prospects do most of their purchase journey (70% according to Sirius Decisions) anonymously and online. Even before the display ad was approved, the target formed their opinion and may have considered competitors. However, according to CSO Insights, 90% of buyers say, “You can engage sellers early in the buying process, especially when faced with new, risky or complex situations.” How does this relate to ABM and businesses?
By leveraging ABM tools such as intent data and visitor intelligence software, businesses can adjust where their prospects are in the purchasing process, which is difficult to achieve for larger and more complex organizations. This will give you the information you need to know what to say in both marketing and sales and how to best communicate with your account, which will improve your overall performance and ROI.
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3. ABM assists in resolving issues across departments.
For companies with multiple locations and multiple products, reporting and insights into marketing and sales performance are often isolated. Learning from one department isn’t translated into another, which leads to missed opportunities and wasted marketing expenses.
Enter ABM. Similar to point 1, the correct ABM technology stack can solve this problem. With a fully implemented, integrated and optimized technology stack, businesses will have full reporting and analytics visibility from point A to point B. With this type of combined reporting dashboard, corporate stakeholders can measure overall ROI and make decisions on how to better leverage it. Tactics in all markets.
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4. You can use ABM insights to inform other enterprise marketing initiatives.
One of the most important things large companies need to keep in mind is that ABM is neither linear nor a one-time approach. A successful ABM strategy has a continuous approach to all interactions with the target account. If you can continue to upsell or cross-sell within that company, one sale is not the final game.
This means that large organizations can benefit from ABM long after the transaction is made. Insights from ABM campaigns (1:1, 1:Less or 1:All) can be used to inform larger content marketing campaigns, website updates, and smaller SEO tactics. Whether it’s keyword research, customer complaints, or whatever triggers empathy, you’ll have specific data to apply best practices to other marketing channels and assets in the future.