ABM Success and how to win with account based marketing campaigns is one of the most discussed topics at so many marketing conferences and events. The past two years have shown that good account based marketing can deliver the results marketers expect. However, hearing from individuals who share their experiences, you can quickly hear how ABM is not a fully proven and doesn’t go without the associated risks.
We spotted a post on LinkedIn from a Marketing Specialist who described ABM as “a half-way limbo measure that won’t satisfy” the marketing and sales departments. It was interesting to see how 120 people from his network went on to then comment on this, sharing their own views. In this post we look into the secrets of success with account based marketing, and how this can be applied with your campaigns.
The myths around Account Based Marketing
Going back to the LinkedIn post mentioned above and reading trough the comments on the post, it seems that marketers either love ABM or hate ABM. Suddenly things have gone all very Marmite like.
Naturally the fuel of the fire within the comments goes back to the results people have seen from their own campaigns. There are two key themes that we have pulled out around running a successful ABM campaign, and these are things we look to combat with businesses that we run campaigns for. Let’s start by having a look, how ABM has been developed and what is making it so popular and so widely baked into many marketing plans.
Should I consider ABM?
During the shift to digitalisation, marketing and sales activities have come closer together than ever been before. Consumers want all information in real-time, hyper personalised, and best in class. The ability to interrupt or disrupt a market has never been bigger. But what does this mean for the modern day business – in a world where paid placements are slowly climbing and users are coming more savvy to opting out of targeted marketing?
All of this is before we even begin to consider how potential reach has grown from regional markets, to international capabilities, in a faster world where gaining attention is the biggest challenge companies face.
All of these factors, when combined and looked at holistically has led marketing teams to consider what we dub a 360 approach – a ‘aerial view’ if you like where multiple factors create a campaign. The core driving factor behind this is to provide a sales team with a higher quality, but lower volume of MQLs.
Considering all these challenges, it’s a ‘smarketing‘ approach that makes it possible to deliver what consumers expect to the audience that is interested in your products, goods and services.
The s in smarketing stands for sales and shows a sales approach in marketing driven activities. Currently, most people understand 1:1 marketing when they use ABM as a term. In reality there are three different types of ABM approaches (1:1, 1:Few & 1:Many) – you can read more about the different types here.
What makes ABM successful? The ABM approach!
When running an Account Based Marketing campaign, all marketing methodologies come together in one (this is the 360 approach we referred to earlier). We believe that this is the reason why ‘the secret’ to its success is so hidden. In order to run it successfully, you have a need to bring together disciplines across content production, lead generation, user experience; your target personas and a reliable, compliant tracking across every channel in order to give total and complete visibility. Very rarely in real life all these talents come together to work on ABM; and that’s when ABM fails.
In addition to this, the second point of failure that we have identified is the lack of sales buy-in with the Marketing Team, or poor communication from the Marketing Team to the Sales Team. We have unique, tried and tested ways of overcoming this with the customers we work with.
We don’t say this ‘just because’ – we say it because it’s key to ABM success. Over the last couple of years we have gone through a big learning curve when it comes to ABM. Our biggest and most important learning was that success is only possible if all talents come together, for both execution of the campaign, and follow-through when a target account engages.
How does ABM fit into my existing marketing strategy?
Rumour has it that ABM campaigns should be separate from any other campaign you are working on. We have seen best results and best value when ABM was part of a campaign, not treated as something different or special.
How can I enhance my ongoing marketing with ABM activities?Start by talking to KAYBE...
How can I score big?
As ABM is a fairly new methodology in the marketing world (even though it consists of tried and tested methods), it’s the experience that can help you to reach the audience you want to reach. Consider what we described above as a starting point for your ABM success, but don’t hesitate if you get stuck to ask for help. The first steps to ABM success are the most crucial ones, as everything that can go wrong, will go wrong at the beginning, which then makes it very hard to change later.
We at KAYBE can help you to bring all required talents together for a successful ABM campaign. Reach out to us, and we can discuss how you can target your ideal customers, while also improving your overall reach and brand awareness.