Based on a survey by Zoominfo, ABM is very effective when it comes to increasing revenue and predictability, as 96% of the marketers surveyed attributed their marketing success to ABM. Below are the different challenges and issues associated with account-based marketing and how planning can reduce the risk of these occurrences: Measuring Your Efforts The results of your ABM strategy might take longer to come to fruition than other marketing strategies. However, you can identify small achievements by measuring your ABM campaign’s performance along the way. If you’ve just started implementing ABM in your prospecting efforts, you can do a comparative analysis to discover which strategy performs better. Establishing an Ideal Target Account Before starting ABM for your business, know that it involves heavy research on both the sales and marketing sides. Building an ideal target account is crucial, and this is where your next steps most come because ABM relies heavily on the accuracy of these target accounts. For example, it isn’t nearly as scalable as mass marketing because of the research and personalization requirements. If you think too big too soon and roll out ABM to hundreds of accounts at the same time, you’ll end up overwhelming your sales/marketing teams, and losing control over the process. ABM works best when it’s rolled out slowly and implemented over time. Make your plan and start out with just a few accounts.
Account-based marketing (ABM) is starting to gain a lot of traction in the B2B world. According to Information Technology Services Marketing Association, ABM is defined as “treating individual accounts as markets in their own right.” This basically means taking marketing personalization to a whole new level.
Based on a survey by Zoominfo, ABM is very effective when it comes to increasing revenue and predictability, as 96% of the marketers surveyed attributed their marketing success to ABM. However, it’s a relatively new strategy, so it’s vulnerable to more than a few pitfalls.
The only way to reduce the potential risks associated with virtually any strategy is to develop a comprehensive game plan. Effective planning will result in increased buy-in from upper management, effective training and development, acquisition of the right ABM tools, and accurate collection of data.
Below are the different challenges and issues associated with account-based marketing and how planning can reduce the risk of these occurrences:
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Measuring Your Efforts
The results of your ABM strategy might take longer to come to fruition than other marketing strategies. However, you can identify small achievements by measuring your ABM campaign’s performance along the way.
If you’ve just started implementing ABM in your prospecting efforts, you can do a comparative analysis to discover which strategy performs better. This will help you identify strengths and areas for improvement. Measurement should take place at every stage of the ABM process, and measurement systems should be indicated in the marketing plan.
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Aligning Sales and Marketing
For the most part, marketing and sales teams tend to operate independently. Marketers focus on lead generation, so they care more about quantity, whereas salespeople focus on lead conversion, so they care more about quality.
Make sure that the objectives of each team are directed towards a common goal. If it…
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