Being a fairly new concept in the marketing industry, account-based marketing (ABM) has already shown great results for companies that have tried it. According to this article on Triblio, “more than 60% of companies” have already made plans to launch ABM-based campaigns in the near future.
HubSpot defines account-based marketing as “a highly focused business strategy in which a marketing team treats an individual prospect or customer like its very own market.” What this means is that your marketing team focuses its overall marketing strategy, which covers content and campaigns, on specific people related to your target account. Account-based marketing allows your reps to devote resources to individuals, instead of the whole target industry.
Most of the companies that practice ABM are “enterprise-level sales organizations,” according to Hubspot. The article also says that ABM “is most beneficial to business-to-business efforts.”
But what if, you may ask, you are working for an IT company? Can ABM help you at all? If it can help, how does it work? This might be a little tricky, but an important thing to remember is that ABM should only be a supplement to your existing industry-level marketing practices. It’s not intended to replace what you typically do.
IT companies also have to solve certain problems specific to their industry. These challenges include:
- Tech space is becoming more and more crowded these days. IT and software companies struggle to capture prospects’ attention because they have to contend with more and more competitors.
- With longer sales cycles, IT and software companies are forced to hurry in grabbing new prospects. They also must do this more frequently.
- This article on HubSpot says that “only 22% of companies consider their sales and marketing departments well aligned around the same goals.” This poses great challenges for your marketing reps to meet overall business goals. It’s even more challenging for IT and software companies to align business goals because of product technicalities.
- IT and software companies are working at a competitive disadvantage because their expertise is not in marketing and sales. It’s also harder for them because they normally sell to targeted and very specific accounts.
But don’t worry! We’re here to show you how exactly ABM can help you overcome these challenges. Take a look:
ABM allows for calculated and effective alignment
ABM allows marketing and sales teams to work on the same account at the same time. Using the tools and tactics unique to ABM, these teams are able to communicate products and services directly to the right people, or decision-makers, working in their target accounts. IT and software companies can use ABM to gain flexibility by branching out from selling to their usual specific and targeted accounts.
Deliver personalized messaging across multiple channels
ABM also allows marketing teams to create personalized marketing content for each prospect in their target accounts. This content is also customized according to the position of each prospect in a single company or account. So, if they are reaching out to a company’s IT manager, they can create email templates tailored to his exact responsibilities in the company.
IT and software companies can also talk directly to their counterparts in other companies through personalized messaging. They will have an easier time communicating with these prospects because they share the same concerns. Also, they gain the added bonus of generally better response rates with personalized content. You can apply personalized content along with phone touchpoints, display ads, and direct emails.
Engaging multiple contacts using multiple different channels also allows IT and software companies to appear on the radar of more potential customers, including those outside their industry. This way, the long sales cycle of technology selling is dramatically shortened.
Get accurate and reliable analytics
Marketers today can now monitor the impact of their promotional initiatives on their actual revenue through closed-loop reporting. They can even see ballpark outcomes for each specific initiative. IT and software companies can use this ability to plan their content marketing strategy ahead of time, which would minimize their costs and maximize their results.
Use much-improved prospecting techniques
With ABM-driven sales prospecting, you have to remember that it needs data, messaging, and context to be successful.
Your data collection shouldn’t be limited to mapped prospects and expanded contacts. If you want to be successful, you also have to look at where and how your brand stacks up against its competition. Your position will be very helpful in your crafting and delivery of any potential messaging. If you’re already an industry leader, you simply have to assert your leadership and product quality to your prospects. But if you’re still a newcomer, you have to be more careful, and you have to deliver messaging that gives your prospects enough reasons to trust your company.
If you use ABM, you also have to take note of the context in your outreach to fully maximize its potential. Your prospects have to understand just how exactly your product or service can address their own issues.
IT and software companies provide specific solutions to specific problems. You have to keep this context in mind all the time before and while you run your account-based marketing campaign.
If you’re an IT or software company looking to boost your sales, you would do well in integrating account-based marketing in your campaign strategies. It opens more opportunities for you to solve marketing problems and overcome marketing challenges while maintaining your efficiency and productivity. Maybe you would find it’s the best fit for you!