Account Based Marketing (ABM): the new B2B strategy

ABM is a precision tool. ABM is the method you must use when each deal has a high order value, the addressable market of ideal customers is smaller and the sales processes are long – then ABM is something for you.

This is Account Based Marketing

Can you afford to miss the big deals?

ABM or account-based marketing is marketing and sales activities aimed at larger companies - accounts that can each make a significant difference to you. ABM is therefore also about larger deals, always in B2B. You can see each company (or account) as its own market where communication and marketing are tailored to hit the mark with that particular company. Of course, it may sound pointed, to handle a potential customer as if it were the only potential customer you have. But turn it around: can you afford to handle large businesses in a way that doesn't meet their unique needs?

Tailor the experience to the companies you want to reach

ABM is based on a really close collaboration between the marketing and sales departments. The idea is not that marketing should draw in a lot of leads that sales should then process, but that marketing and sales together ring in the key customers you should focus on. Well defined, a spectrum of tools, strategic and operational, is used to meet the customer and selected decision-makers in a way that leads to decisions. Big deals can take time, ABM gives you both strategy and methods to make this time progressive and measurable.

It’s a numbers game

The traditional sales school says that sales are a numbers game. It's about having enough contacts to reach your goals. Nothing could be more wrong than that reasoning when it comes to ABM. Here, then, the reverse applies: to identify the target group, perhaps in its entirety, and handle them as if every potential customer were the last. This precision allows you to reach your customer in a smart, educational and recurring way without stressing or pushing your customer in the wrong direction.

One customer, one experience

ABM is thus a method that is suitable in certain situations. It's not for everyone - but that's where the strength lies. When ABM is right, it really is right! Done well, ABM will position you just right in relation to each of your most prioritized customers. It could be the difference that makes all the difference.

Optimize, optimize, optimize

An ongoing optimization of your ABM investment is of course important for you to achieve really good results. As with all digital marketing, it's about testing, learning and improving to get where you want to go. By constantly having a close dialogue between market and sales and following set KPIs, you can start making decisions based on the right things. Your actions going forward are now based on actual results and insights - data-driven marketing at its best!

ABM channels and methods we use

SEOBe available when the customer is looking for you

Optimized searchability ensures that the right customers find you when they search for solutions or information you offer.

E-mailSupport all stakeholders on their terms

Tailored email campaigns help build relationships and support all stakeholders based on their specific needs and position in the buyer's journey.

Paid searchCompete with your competitors

"With paid search advertising, you can actively compete for relevant keywords and appear at the top of the results when potential customers search."

Paid socialTarget advertising to a niche market

Through paid social media advertising, you can target your audience precisely and reach specific segments that align with your ABM strategies.

Events and webinarShow that you own the topic

By hosting and participating in events and webinars, you position yourselves as experts in your field and generate engagement around important topics.

Content marketingGive the customer the depth they need

Well-crafted and relevant content provides potential customers with deeper insights and valuable information, building trust and bringing them closer to a decision.

5.0

**Sam Coleman** Chief Marketing Officer, Stringo

Is ABM right for your business?

Making a good ABM effort means putting a lot of energy and resources into a few accounts. These should not be "bread-n-butter" customers, but each customer should have their own journey and require great commitment. This means, among other things, unique ads, unique content and customized strategy for automated sales and marketing activities. On the other hand, the sales cycles for these customers usually last for a very long time - after all, it is a large and complex business. Working with an effective ABM strategy towards the right customer usually means a big commitment at the beginning, which in the long term gives a very nice ROI.

A simple thinking trick can be the so-called 80/20 rule. If 20% of the companies you have as customers account for 80% of your turnover – go for it!

Which companies are ABM not suitable for?

If you do not feel that you have the commitment and resources required, you should think again.
Is your business based on volume? Do you have short sales cycles? Then ABM is not the right choice.
ABM is not effective if there are fewer than two people involved inresearch, decision and budget on the customer side.

When is ABM the ultimate strategy?

When your offer is aimed at a limited number of companies and organisations.
When you need to convince many different stakeholders at the customer in your sales process to get a deal done.
If your company works with long sales cycles.
If your company participates in many procurements.

How do you work with ABM?

Step 01

Assemble the right team

Being successful in ABM is a lot about putting together the right team. Marketing and sales must work together. All information about your leads' movement in the buying journey must be shared between the different teams so that you can adapt your sales and marketing activities to their buying cycle.

Step 02

Use a system that supports your sales process

Another absolutely central part is having a system or software that supports effective ABM work. Since ABM has important synergistic effects with Inbound Marketing and Inbound Sales, you should have a system that supports these ways of working. Invise is a HubSpot partner for a reason - we think that system is superior. But of course, there are other players who offer good technology that supports ABM.

Step 03

Set the right goals for your ABM efforts

How many customers do you have to bring in before you make a profit? How many companies will you bring in in the coming years? Do you want 50% of your existing customers to buy your new product? Setting the goals is of course absolutely central to being able to evaluate how well your ABM investment is working.

Step 04

Create a picture of your ideal customers — Ideal Customer Profile

For a successful investment, it is important to clearly define the target group. After you and your colleagues have identified key companies, create an Ideal Customer Profile (ICP) to get a clearer picture. For example, your ICP can be a company in the Nordics with over 500 employees, and an annual turnover of over SEK 1 billion in the metal industry. Identifying the addressable market is the next step – which companies meet your requirements? Create a list and start the Account-Based Marketing (ABM) project!

Step 05

Map stakeholders — those who ultimately make the decisions.

To effectively reach your target audiences, it's crucial not to focus solely on those who find you through Google. By mapping internal key players within your target companies, you can better tailor your communication. Identify champions, influencers, end users, budget holders, blockers, and decision makers to understand their unique needs and value concerns. Create personalized communication that clearly demonstrates how your product or service can add value for each individual key player.

Step 06

Choose the right channels and message

Based on the mapping of stakeholders, you need to look more closely at what triggers each person and what common challenges they have. The strategy is then designed according to each person's behaviour and needs. A budget manager probably doesn't research your service on Google, so you shouldn't spend money on sales-motivating Google ads tailored for this decision-maker either. Instead, focus on the right people and create a good strategic picture of how each key person should come into contact with you.

Measure ABM with these KPIs

Pipeline Acceleration

Pipeline Velocity is a great way to measure how ABM is working. If you can shorten your sales cycle by involving more stakeholders and closing deals faster, it's a clear indication that your ABM efforts are paying off.

Marketing Qualified Accounts

MQA (Marketing Qualified Account) shows how your ideal customers are progressing in the buyer's journey. In inbound marketing, we often talk about Marketing Qualified Leads (MQL), which means that leads are considered relevant by you, and the individuals have shown interest indicating that you are relevant to them. MQA follows the same principle but tracks the account's activity instead, making it more relevant for ABM.

Accound Reach and Account Engagement

This shows how many people within each company you have managed to reach and involve in the purchase. It also reveals how they engage with your marketing and sales materials. Highly relevant insights to convince even more stakeholders!

ROI and Marketing Influence

This is a measure of the content, messages, and emails your stakeholders have consumed before a purchase. It gauges the actual impact of your efforts and what they have generated in terms of revenue. Ultimately, you want to understand what you did well and what was less effective, so you can optimize your ABM strategy!

Account Based Marketing — Close the really big deals