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Monday, 26 August 2024
Many company owners believe that advertising to a big audience boosts their chances of obtaining new consumers. While this reasoning is sometimes correct, it is frequently accompanied with caveats. To be successful, every marketing campaign must promote your company to the appropriate individuals at the correct time and place. Account-based marketing is one successful method.
Moris Media, the top digital marketing agency in India, deciphers the importance of account-based marketing and discusses the tactics that you need to operate for creating new sales opportunities.
Account-based marketing involves identifying a specific target group and promoting your products and services specifically for them. It's best suited for B2B companies aiming to gain particular clients. This strategy may be implemented by regularly producing highly personalized marketing campaigns that take into account characteristics such as the business's location, industry, and size, as well as the technology it employs.
Account-based marketing may be carried out in three stages, depending on your company:
1. Singling out one specific client and offering him a customised marketing plan.
2. One-to-few wherein 5-20 prospects, who have similar pain points and issues, are targeted.
3. One-to-many marketing is delivering a personalized marketing effort to a big group of prospective clients who have comparable company characteristics.
Though account-based marketing proves highly beneficial in securing high-end customers, this should not be implemented at the cost of other marketing strategies. Because of the time investment necessary to generate results, account-based marketing should be used to supplement your total lead generation efforts.
Account-based marketing scores significantly as it empowers you to monitor campaign performances highly effectively and link the same with your ROI. Leading global research firms have identified that more than 75% of customers believe that personalized messages are important when choosing a company. Given that account-based marketing involves learning about a prospective customer's business aim and creating personalized content, it's reasonable to believe that it will increase your chances of capturing a lead.
You may not be having the right thought if you believe account-based marketing is just a viable approach for medium and large-sized businesses. Implementation is definitely time-consuming but it definitely contributes handsomely towards achieving your organisational goals.
Remember that account-based marketing is a continuous process, and it might take months to get your first customer utilizing this method. You need to commit anything only if it is aligned with your long-term objectives.
The first stage in putting your account-based marketing plan into action is to precisely define the accounts you want to target. This requires you to do research and narrow down the prospects that best meet your desired customer profile. Begin by sifting through a list of individuals who have previously indicated interest in your company, or by using professional list builders and web tools to locate suitable prospects. You may also utilize your CRM's lead-scoring tool to decide which prospects need special attention. Once you've compiled a list of prospects to pursue, categorize them into the three categories outlined above and target them depending on their income potential and scope.
If you operate a B2B company, you may need to do significant research to learn about the target account's corporate structure, how crucial choices are made, and who makes those decisions. This data will be crucial in developing your marketing plan and setting the overall tone of your advertising. LinkedIn and other professional networking sites might assist you discover more about a decision maker's history and interests.
Account-based marketing requires your sales and marketing teams to work together to build a plan. Aligning your sales and marketing activities not only helps to avoid unwanted miscommunications, but it may also enhance the customer experience, resulting in greater outcomes. Encourage your marketing and sales divisions to take cues from one another from the outset. To establish a seamless path for your prospects, ensure that your sales presentation and follow-up actions are personalized in the same way that your marketing material is.
The next stage is to collect all of the information you need about your prospects and begin working on your content and delivery. Whichever form of client connectivity you choose, it needs to focus on the specific pain points that your target audience has. Remember that, although consumers like receiving promotional information that is relevant to them, you should avoid being overly obtrusive. Avoid gathering information or conducting marketing based on one's ethnicity, personal buying habits, medical history, or social life. You don't want your prospects to think you've been attentively watching their every move. Keep your marketing message basic and customized in a manner that doesn't border on creepy.
It's time to put your plan into action once you've clearly defined your objectives and established the foundation. Launch your marketing and keep a careful eye on how your prospects react. The lesser time taken to decipher audience response to your campaign, the higher the chances of the same being successful. Strategies also need regular fine-tuning for improving campaign efficacy. An analytics tool may help you better understand your prospects' online behavior and assess your overall performance.
Account-based marketing often involves trial and error for determining the best results and you need to be observant over a long period to realise how they are shaping. Success is guaranteed in the long run.
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