Account Based Marketing
As B2B companies, we all have those big names that we would love to have as our clients. But if you are an SME, this usually remains a distant dream. Right now, you have marketing and sales teams working in silos, bringing in hopefully a ton of leads and converting a handful of them. But once you get these two teams to work in sync, landing the big accounts is an easier possibility.
How, you ask?
The answer is Account Based Marketing.
Account Based Marketing is about identifying specific accounts that you want as clients, and then running lead nurturing campaigns for them. Each campaign can be tailor-made for the specific account, and targeted at a few key decision makers in the company. It’s a form of personalized marketing with a high level of engagement and conversions.
You list out the big accounts, large companies or enterprises, that you want as your clients. This is a wishlist, except that a lot of the wishes on the list are going to come true. Once you have your list, your sales team swings into action. They identify individuals in these companies who will likely influence the decision of whether to use your product or service. For example, if you are a SaaS company, it is likely that a CTO or a CDO will take the final call on your product.
You build a database of decision makers and influencers and the means to contact them. You also figure out what is the exact problem that your product or service is going to solve, for each of these accounts. In other words, you have to be very clear about what you bring to the table and why they should buy it.
The next step is to design a campaign that will engage the prospects that you have identified. Email drip campaigns are one of the best ways to ensure engagement over a span of time. You can start off with how your product or service solves a specific problem for each of your influencers. You also work out what other useful resources or content pieces should be lined up, to keep the conversation going.
Simultaneously, you run ad campaigns targeted specifically at these prospects. Based on where they spend their time online, or which social media platforms they frequent, you know exactly where and when to run your ads. This, combined with your emails, ensure that your product is never too far from their minds.
There are marketing automation and account based marketing platforms, which help you with this process. At Niswey, you have a marketing team that’s skilled at leveraging these tools for your business. We take the time to truly understand your business and then design and manage these campaigns for you.
The next step is to execute the campaign. A well-designed campaign will trigger a very personalized engagement. This is because the content of each mail is tailored to the responses and actions to the previous mail.
So let’s say if a prospect is interested in how you can help their company and visits your site, you send them a case study. On the other hand, if they do not show interest in the first mail, you send a different piece of content.
Some of this content being shared is templatized, and shared with all prospects with minor personalizations. As engagement increases, you will need more customized and targeted pieces of content. This could be anything from process documents to case studies to white papers. At Niswey, you also have a team that understands and can craft the kind of content that you need now.
Once your campaigns are in play, you start the process of lead scoring. You monitor the conversations with each account, gauging their level of interest and engagement. This helps you identify where they stand in your sales cycle and what are the next steps to move them further down the funnel. You also know which accounts are the most promising and can focus your energies on guiding them towards conversion.
Lead scoring saves you a lot of time and effort by prioritizing your accounts based on the level of engagement. So you know exactly which accounts are closest to conversion and how much work you need to put in, with each of them. You also know when it’s time to maybe boost the conversation with some offline engagement.
All good things take time, and this is no different. Account Based Marketing is a long drawn out process, as any sales veteran would tell you. It’s all about building a trusting relationship, albeit online. It typically takes about 3-6 months for an account to convert. But you would agree that the returns from landing even one enterprise account are well worth the wait.
- Your sales and marketing teams are in perfect alignment, targeting and converting accounts that you know will bring in high revenues.
- You accelerate your growth as you focus and acquire accounts that fall exactly in your customer sweet spot.
- You get referred to similar high value deals within the accounts, considerably shortening your sales cycles and bringing quicker conversions.
Ready to Leverage Account Based Marketing? Let’s get in touch!