How Account-Based Marketing (ABM) will transform your B2B sales in 2021
Updated: Apr 14
Before getting into how an ABM agency can take your Arkansas business to the next level. It's important to understand what Account-Based Marketing is and how it works.
"Account-Based Marketing is a B2B marketing strategy that takes the traditional sales funnel and flips it on its head."
In general, a traditional digital marketing approach looks something like this:
Identify your audience > Develop customer persona(s) > Create "scroll-stopping" content > choose online platforms > pray the right people to see it and interact with your ads > Refine > Retarget > Refine > Retarget > Refine > Retarget...
The idea is to take an approach that reaches as many eyeballs as possible.
Gather as much attention as you can in "Top of Funnel" activities. Then retargeting "prospects" and nurturing them through the sales process with more detailed information until a qualified lead pops out for your sales team to call on.
This probably looks familiar to you if you've been in sales for more than a few months.
There is a different way... Account-Based Marketing
Account-Based Marketing (ABM) is a B2B marketing strategy that takes the traditional marketing funnel and flips it on its head.
With ABM, you identify a few existing, high-value prospects. Then develop marketing activities that explain why your solution is the best to address the prospect's needs.
"When designed and executed properly, Account-Based Marketing will transform your sales team into Rain Makers."
Another aspect of ABM is it puts a majority of the allocated advertising spend into winning, already identified, high-value clients. Keeping top-line metrics for success simple... Is the sale moving forward or not?
Does ABM create teamwork between marketing and sales?
Sure does! It's important for marketing to work with sales to understand and address their needs to win the sale. This creates an environment where sales & marketing work hand in glove to get new business in new & existing key accounts.
Great! How does Account-Based Marketing Work?
ABM helps you: Focus your marketing effort on a few high-value prospects. Then take the necessary steps to market your product/solution to only the key decision-maker(s).
1. Meet with the sales team to identify their most valuable prospects.
2. Work with sales to identify the prospect's main challenges and your unique position for how your business solves them.
3. Find out who the main decision-maker(s) are for the Key Account(s)
4. Determine what marketing channels are the most valuable to reach the prospect's decision-maker(s).
5. Create marketing collateral that speaks directly to the decision maker's business and the problem(s) your product will solve.
6. Continually refine your marketing efforts until you win the business!
Is it really that simple?
The short answer is no, it's not that simple. There is a lot of effort and work that goes on in each step of the process. However, when ABM is dialed in there is a synergy between marketing and sales that goes together like peas and carrots.
For more details on how ABM can consistently capture high-value clients for your Arkansas-based company, contact us for a free, no-hassle consultation.