Every B2B marketer needs a hidden superpower in their back pocket. Enter Account Based Marketing, aka ABM – your marketing hero.
The possibilities of ABM are endless, and the data speaks for itself. According to LinkedIn research, 87 per cent of marketers who measure ROI believe that ABM outperforms all other marketing investments.
Incredibly, 91 per cent of ABM marketers say that their ABM accounts have a bigger deal size, and 84 per cent of marketers report that ABM significantly helps retain and expand existing relationships.
Amanda Margariti, senior partner manager at LinkedIn ANZ, explained that ABM is more than just the next marketing buzzword: “It is essentially just B2B marketing done really well!”
What sets an ABM B2B strategy apart is the application of rigorous data across the planning, execution and measurement of campaigns.
“ABM can help you connect with customers who have the most revenue potential for your business and show them exactly why your products or services are the solution to their business challenges,” said Margariti.
ABM, she explained, is a customer experience.
“You’re positioning your products or service to a set list of high-value accounts in a way that delivers the most relevant message and content for them,” she continued.
“This kind of focused approach shows your target accounts that not only do you understand their business and challenges, but you value them enough to create expert marketing and sales experiences to specifically meet their needs, no matter where they are in the purchase journey.”
For marketers, the crucial next step is choosing a solid foundation for that strategy. To successfully execute an ABM strategy, you need access to high-quality, consistent, account and contact data.
As Margariti explains, the tools marketers have at hand now, such as machine intelligence and CRM, have made the potentials of ABM limitless.
“Thanks to automation and increasingly sophisticated targeting capabilities, it is possible to carry out many complex campaigns at once, turning ABM into something much more scalable for businesses of every shape and size,” she said.
“As the number one most trusted social media platform (Business Insider Digital Trust Report, 2020), LinkedIn is a unique environment to anchor your ABM strategy with first-party, user provided data to ensure accuracy. Together with our ecosystem of Marketing Partners, LinkedIn can help you easily segment your account list by company size, industry and opportunity stage as you decide on how best to define your account tiers.”
It’s undeniable that ABM is thriving as a sales strategy, and monopolising on its growing popularity has already proven to reap dividends.
The ITSMA ABM 2020 Benchmark Study found that 76 per cent of companies increased ROI when using ABM. The Lifetime value of business won through ABM was also up 4.3 per cent, and over a third of companies saw both brand lift and improved reputation, proving the all-round possibilities of a solid ABM strategy.
It’s because of these successes that ABM use is destined to continue growing. Increasingly numbers of B2B marketers are having their eyes opened to “just how powerful it can be to prioritise lead quality over lead quantity, double down on relevant marketing messages across the entire buying journey, and shift impact metrics from lead generation to revenue won.”
“It’s worth your while to get familiar with it as when done right, ABM gets results. While marketing and sales are distinct functions, alignment is crucial to success,” Margariti said.
“The good news is that ABM by its very nature unites the two teams. LinkedIn Market Research Art Of Winning has shown that when marketing and sales are tightly aligned, marketing generated revenue increases by 208 per cent and this alignment also produces a 36 per cent higher customer retention rate.”
To help marketers lean in to the possibilities of ABM, LinkedIn is hosting ‘I Heart ABM’, a worldwide webinar session. It will feature an incredible array of speakers including executive producer and host of the How To Citizen with Baratunde podcast, Baratunde Thurston, LinkedIn’s global director of customer insights Allyson Hugley, and ANNUITAS CEO Adam Needles.
Those tuning in to the APAC session will be hosted by Margariti herself, and fellow senior partner manager Gil Burgmans.
Panellists include Prasana Williams, senior marketing manager Asia, Hubspot; Kiaran Geen, president APAC for Merkle DWA, Kate Power, head of ABM APAC for ServiceNow, and Sarah Tucker, LinkedIn’s head of APAC marketing.
I Heart ABM is the perfect opportunity to learn more about the unparalleled benefits ABM can have for your marketing strategy.
From Margariti’s perspective, ABM is only going to become more relevant.
“The rise of ABM could indicate that many marketers are shifting away from high volume marketing, however, the real shift that’s happening is a technological one,” she said.
“Figuring out which accounts to target, developing focused, relevant content and measuring your strategy’s impact, is easier and more effective when you have the right technology and tools at your disposal. The right ABM strategies delivers efficient performance and stronger results – show me a marketer who wouldn’t be keen on that!”
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