According to a report by Forrester (2019), 62% of marketers stated that they experienced a positive impact from implementing account-based marketing (ABM).
It’s nothing new to hear that adopting ABM delivers great results. It helps to exceed revenue and drive long-term value for your most key accounts.
But it’s not an overnight success. If you think you’re ready for ABM, you need to know first that it’s a marathon, not a sprint.
You also need to know that there are a number of factors that determine whether your ABM will take off, or simply stay grounded.
So, what makes a successful ABM campaign?
Sales and marketing alignment
The sales teams will be those on the front line when it comes to selling your business to the c-suite audience. So, it’s vital that you need to be aligned with their thinking and what they are experiencing in the world of sales. Then, reflect that in your marketing strategy and tactics, so that the sales team are armoured with the right messaging for the right people.
According to Forrester’s ‘State of ABM in 2022’ report, over 40% of those marketers surveyed doing 1-2-1 ABM programmes stated that they were in collaboration with their sales teams most days (Forrester, 2022).
A concentrated and targeted approach
Hyper-personalisation is the backbone of ABM. In a survey by Forrester in 2019, 56% of marketers agreed that personalised content was essential to the success of ABM.
Yet don’t think that just adding a name at the top of an email is going to cut it. From utilising third-party intent data platforms, to analysing account plans and annual reports, you need to identify exactly what the c-level audience are saying and where and when they are showing intent for your services.
Then, align your own messaging and marketing strategy to deliver a narrative that truly resonates and punctures those pain points at the right time.
Having the appropriate budget
For ABM to be successful, it needs to be resourced correctly. Not just in the people you hire, but also in the budget you provide.
And for many marketers, this has been identified as the top ABM challenge this year (Forrester, 2022).
However, whilst it may be an obstacle, it is an obstacle you need to overcome, with the average ABM budget costing $350K.
But we understand that the proof is often in the pudding and those new to ABM may not be provided that amount of budget to begin with. If you’re just starting out with ABM, we recommend launching with a pilot on a smaller budget to initially implement the ABM process, then look to scale and increase as the results roll in.
An enthusiastic and open-minded marketing team
We know that as a strategic approach, ABM requires buy-in from the sales teams to be a success. However, before getting their buy-in, you also need to get the approval and enthusiasm from your own ABM team.
If you’re team aren’t showing a positive mindset when it comes to delivering an ABM programme, then how can you expect the sales team, and in effect your target accounts, to be enthusiastic and bought into the process?
A lack of ABM leadership and organisational changes to a marketing team are common challenges that can hinder the success of ABM (Forrester, 2022), so it’s vital that you have a strong, collaborative, and enthusiastic team behind you that can deliver the job best.
Finally, be ambitious (hint, hint)
It can be easy to follow the trends and mimic what every other marketing team is doing. When budgets are lean and time is tight, it can also be easy to choose the safe option out and deliver a standard InMail campaign or email copy.
But don’t be afraid to be bold and step out of the comfort zone. The most successful ABM campaigns are often the ones that had memorable messaging and a striking design, so ensure you have a team of creative copywriters, directors and designers on hand who can deliver videos, infographics and Direct Mail campaigns that stand out and capture the attention of your target decision makers.
So, if you’re ready for ABM and want your pilot programme to take off, make sure you take these factors into consideration. But also remember, that it takes time to see the results- after all, ABM success is a marathon not a sprint!
If you’re seeking support for your ABM pilot, or simply want to deliver more successful campaigns, then get in contact with AmbitionABM today to see how we can help.
