There is no doubt that account-based marketing is invaluable to large businesses. When used strategically, it can benefit an entire organization from the top down.
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There are thousands of articles, webinars, and infographics exploring all of the benefits of an account-based marketing strategy (ABM). For large companies, however, the resources are limited. If marketing and sales departments in these companies want to start a pilot program or improve their current ABM tactics, they won't find many remedies for their particular weaknesses or evidence to support ABM as a go-to-market strategy.
Instead, they will find general ABM rules and practices for small and medium-sized businesses as well as medium-sized businesses. While business-to-business companies of different sizes may have a similar approach to ABM (very focused and personalized), a large company has different expectations, challenges, and goals when it comes to an ABM program.
There is no doubt that account-based marketing is invaluable to large businesses. When used strategically, it can benefit an entire organization from the top down. Here are four ways large companies can leverage ABM to increase bottom line and scale marketing success.
1. ABM can increase security and customization
We've all seen it before: you're in a large company and the number of technological barriers you encounter seems to be endless. It is one thing at a time. The CRM that the GMO wants to use is not approved by the finance department. Your current content marketing platform doesn't promote scalability. In most cases, IT will not approve third-party integrations due to a recent security breach.
Fortunately, ABM can still be put into action – your team just needs to think outside the box. With the right resources and an integrated tech stack, large companies can run ABM campaigns using a microsite. Not only does a microsite increase security (as no third-party tool has been given access to the company's main website), it can also be personalized and customized by the target account to increase engagement.
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2. ABM is a great way to better understand a potential customer's buying journey
Interested parties carry out the majority (70 percent according to Sirius decisions) of their purchase trip anonymously and online. Before your display ads were even approved, your target will have their own opinion and may even consider your competitor. According to CSO Insights, 90 percent of buyers are "open to engaging sellers earlier in the buying process, especially when faced with a new, risky, or complex situation." What does this have to do with ABM and companies?
By using ABM tools like intent data and visitor intelligence software, companies can adjust to where the prospect is in the buying process – which is more difficult to achieve in a larger, more complex organization. This way, both marketing and sales have the information they need to know what to say and how best to use the accounts, resulting in better overall performance and a higher ROI.
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3. ABM helps solve challenges in various areas of the company
For companies with multiple locations and multiple products, reports and insights into marketing and sales performance are often isolated. Insights gained in one line of business may not translate to another, resulting in missed opportunities and wasted marketing spend.
Enter ABM. Similar to point 1, the right ABM tech stack can solve these challenges. With a fully implemented, integrated, and streamlined tech stack, a company has complete visibility into reporting and analysis from point A to point B. This type of combined reporting dashboard enables the company's stakeholders to measure and measure the overall ROI Making decisions about how to get better leverage tactics in all markets.
Related: Account-based marketing is not going away. Here's why.
4. ABM insights can be used to inform other business marketing initiatives
One of the most important things large companies should consider is that ABM is neither linear nor a one-and-do approach. Successful ABM strategies take a continuous approach to all interactions with target accounts. A sale is not the end game if you can continue to upsell or cross-sell within that company.
However, large companies can benefit from ABM long after the deal is closed. The insights from the ABM campaign – whether 1: 1, 1: few or 1: many – can be used to inform larger content marketing campaigns, website updates and even smaller SEO tactics. Regardless of whether it is keyword research, customer problems or feedback, you have the specific data to apply best practices to other marketing channels and assets in the future.