Author: Josh Baez / Source: MarketingProfs As a small-to-midsize business owner or marketer, you've likely faced the dilemma of not hav
As a small-to-midsize business owner or marketer, you’ve likely faced the dilemma of not having the same tools as the bigger guys. You may think that they’re playing an entirely different ballgame, but that’s not necessarily true. They might have more employees, resources, and tools at their disposal, but there is one strategy that every business, big and small, can rely on to make a significant impact on revenue goals: account-based marketing (ABM).
ABM might be thought of as an enterprise-level tactic, and its relevance and impact are more evident in larger corporations, but that doesn’t mean an ABM solution, albeit scaled down, can’t provide the same kind of results for your SMB.
Ultimately, an ABM strategy, no matter the size of the company adopting it, relies on three things:
If you can clearly define those components, orchestrating an ABM program for your SMB can be as easy as 1-2-3.
The first component of constructing your ABM strategy is defining how much you’re willing to spend to acquire a new customer. There’s no golden number here, it all depends on your business and the value of the targets you’re marketing to. How much are these new customers worth to you? How much money, time, and energy are you willing to spend to get them on board?
Too often, people think that an ABM strategy has to cost thousands of dollars, but not so. There’s no minimum spend requirement in an ABM strategy.
Ultimately, ABM, and business practices in general, all come back to a basic understanding that people respond to people. And the most common, and arguably most effective, tool you have at your disposal is a telephone.
Don’t let monetary molehills turn your ABM strategy on its back. Start small, map out your targets’ worth, and scale outwards once you begin to hit your threshold.
The core of your targeting strategy comes down to understanding the buying committee. In an ABM program, general marketing and awareness aren’t going to cut it. To really see the impact of your efforts, you need to ensure that you know who the stakeholders and decision makers are, and that includes possessing a confident knowledge of their interests, focus areas, and pains.