Account-based marketing has been the talk of the town for almost a year and its popularity seems to be on the rise. Although most people know the basic principle of it they are hesitant to take the leap due to myths that surround it. Now is the time to break through these roadblocks and focus on facts about how account-based marketing can be helpful for your business. Marketing at the end of the day is building relationships, one that will last for years and keep getting you more business.

Account-based marketing means that you move from treating each lead as an individual and towards treating them as an account. Making the move from demand generation to account-based marketing may be a tedious one but in the end, it is the results that matter most of all.

Let’s look at the myths that may be coming in the way of your success.

This Concept Is Totally New
Many marketers are under the impression that account-based marketing is a new concept that will need them to revamp their current systems. However, this is not the case. Account-based marketing is just an old concept that has been reborn with a more strategic, comprehensive, and technological-based focus. Marketers know that they must get to the prospect from any angle they can, and this has led to them try and find multiple contacts in the same company. This is the basic principle that account-based marketing is built around.

Account-based Marketing Can Only Be Used for Higher Revenue Accounts
It may be true that account-based marketing is far more suited to the million-dollar accounts as it will help businesses get more revenue. However, this concept is highly scalable and can help add a personalized and individualized touch while targeting any account.

Account-Based Marketing Comes in A Single Type
Most marketers are under the misconception that account-based marketing is a singular concept. On the contrary, this type of marketing can be customized to fit any sized business in any industry. Currently, there are three types of account-based marketing techniques being used.

• Strategic Account-Based Marketing: This is where one marketer handles a single account.
• Account-Based Marketing Lite: In this type, a single marketer handles multiple accounts
• Programmatic Account-Based Marketing: This is the newest form of account-based marketing in which the system is automated so that a single marketer can handle hundreds of accounts.

Account-Based Marketing is Solely for Marketing
Don’t be fooled by the name, account-based marketing is a symbiotic relationship between the marketing and the sales departments. Marketing gets information from the sales department about the key accounts and what is the best way to target them while the sales team gets sales-ready leads that can be converted easily. Without the help of both these departments this strategy would not work.

Account-Based Marketing Does Not Play Well with Demand Generation and Inbound

In contrast, these two concepts get along very well. Most companies do not directly take the plunge into account-based marketing. They take the slow route and use account-based marketing to complement their current processes. This makes the transition easier at a later stage when the company does decide to exclusively use the account-based marketing process.

Account-Based Marketing Will Solve All Your Problems

This is a targeting system; the right strategy will be able to help your company to a great extent. However, it may not be able to give you the unexpected wins that were usually a possibility in other techniques. If you have done the right amount of research and know exactly who to contact, then you will be able to reach your end goal effectively.

B2B lead generation involves a lot of account-based marketing (ABM) and is definitely a topic that has been making a lot of noise in B2B circles. ABM may include something as simple as an email drip campaign, but can also include something like sustained, comprehensive and integrated programs that will make use of multiple channels.

Any successful ABM campaign needs to have certain common characteristics to be successful. These include:

1. Integrity:

Integrity is important in order to make sure that your target contacts receive a consistent and cohesive message through multiple channels that you may choose.

2. Segmentation:

Next, it is important that any communication involved in the process is segmented so that it is relevant to an individual account and decision maker/role to a maximum extent possible.

3. Content-Driven:

Also, the ABM has to be content-driven so that it can drive engagement and dialogue with the target contacts. The content involved should be creative and effective.

4. Sufficient Duration:

It should be of minimum but sufficient duration so that the success doesn’t depend on its timing but on its consistency and education of the targeted contacts.

If you are looking to integrate Account-Based Marketing into your demand generation mix, here are a few steps that will help you to develop and execute an ABM program successfully.

1. Recognize your target Accounts

You begin by identifying your targets. This can be done either through predictive modeling or sales input. Through predictive technology, you can identify the accounts that have the maximum potential of being converted, though you may also target the accounts that are just on the list.

2. Developing a Relevant Offer Content

Next, the important step is where you identify and develop a critical mass of relevant offer content that supports your campaign. This content is very specific and relevant to target roles, like Power User, Economic Buyer, Internal Champion, Technical Buyer, etc.

The content should be very clear and concise, and should appeal to your target.

3. Finalizing concrete and quantitative goals

Further, you need to establish your goals for the campaign. You will have to have a very clear idea of how you are going to measure success. What will be your key performance indicators (KPIs) and how will you measure them?

Once you have your goals identified, it becomes easy to decide on how to achieve them.

4. Identifying your channels and tactics

To get the desired results, you will have to identify the right channels and methods. A multi-channel, integrated approach is said to be the most effective.  Below listed are the few possible channels for ABM.

• Email Drip campaign that will include proactive, outbound email and direct email to the targeted contacts.
• Display advertisements through ad networks to target another list of ideal contacts.
• Social media advertising targeted at the specific audience. This can be done through paid advertisements on LinkedIn, Facebook, and Twitter with ‘custom audiences’ feature.
• Using the paid search advertising on Google with ‘customer match’ program.
• Telemarketing outreach.
• Real-time Web personalization that will deliver account-specific and industry-specific content on the main website of the advertisers or on campaign-specific landing pages.

There can be more channels of your choice and as per your need.

5. Relevant creative development

Once you have completed the above steps, you will now need the relevant creative implementation via the channels you have chosen.

6. The right sales targets and other important triggers

Next, you need to implement the right sales targets and other triggers depending on the campaign engagement or Web visits by the target accounts.

7. Making a campaign calendar

This is important for outlining your plan and defining what you wish to achieve and when.

The Bottom Line

Before you invest in the Account-Based marketing, you must know why you are doing so. Though ABM is a much talked about topic in B2B circles, that isn’t a good reason for you to undertake or invest in it. You must, first, understand how it works.

ABM can play a vital role in driving opportunities at high-value accounts. If you are targeting a cohesive, integrated demand generation mix that strikes a balance between the inbound and outbound tactic, ABM can be of a great help.