Personalized account-based strategy is fundamentally strategic.
Account-based marketing (ABM) is a B2B marketing approach that focuses on engaging specific target accounts in a structured and intentional manner. If you’re new to ABM, start with our introductory guide to account-based marketing, then come back here to learn how to implement it effectively.
In this post, we will delve into how strategic thinking is applied to account organization and communication. We’ll also outline common ABM strategies you can use to grow your business.
Organizing ABM Accounts
With account-based marketing, your first strategic step is to organize your target accounts in a way that dictates when, how, and how often you market to them. This should align with your overall business goals and values. For instance, if revenue growth is your primary objective, you might categorize your accounts into ‘Platinum’, ‘Gold’, and ‘Silver’ tiers based on their current spending and potential for future spending.
Alternatively, if your goal is to boost your company’s profile by landing the top ten Fortune 500 clients in your industry, you could organize your accounts by their business size, with the top ten being your ‘star’ accounts. The naming convention is up to you!
Keeping ABM Records
No matter the size of your organization, if you want to approach ABM strategically, you need a reliable system for keeping track of your accounts and how they’re organized. This could be based on tiers or other classifications. Even small businesses starting with ABM must consider safe record-keeping, the amount of data needed for effective marketing, and how to scale their efforts if they succeed.
It might be wise to look into third-party software designed to help manage your accounts. To determine if you’re ready for an ABM solution, ask yourself these five questions:
- Do I have a clear understanding of my accounts and their structure?
- Does my system integrate with my marketing goals?
- How will my system track, measure, and report results to the leadership team?
- Can my system handle the volume of data required?
- Is my team trained to use the software effectively?
Managing Strategic Accounts
Once your accounts are organized strategically according to your business priorities, the next step is managing each account from a marketing perspective. This means developing strategies based on account priority. You may need multiple strategies if you have multiple tiers. Consider the following variables:
- Frequency: How often do you market to each tier?
- Budget: What campaigns apply to all, mid-tier, and top-tier accounts, and what budgets are allocated to each?
- Logistics: Do top-tier campaigns include in-person events? Are these feasible given geography and other factors?
- Resource: Do you have the necessary people and skills to create multi-tiered campaigns tailored to your accounts?
For a deeper dive into ABM strategy, download our free 56-page guide that discusses these elements in more detail and shows how ABM platforms can help marketers achieve their goals.
Implementing ABM Strategies
With your accounts organized strategically and a plan in place for resources and logistics, it’s time to implement your ABM strategies using various marketing channels. Here are some considerations for mobilizing these channels:
Email Marketing Create email lists that reflect your account tiering system. This will guide which campaigns each list receives, the messaging, and the frequency.
- Tip: Consider the prestige of your communications with top-tier accounts. For example, could they receive a monthly “letter from the CEO”?
Events Events are a great way to build deeper relationships with top-tier accounts. As the saying goes, ‘People buy from people.’
- Tip: Add value and demonstrate your business’s knowledge and authority by hosting an exclusive annual directors’ dinner with guest speakers who are industry experts.
Direct Mail and Merchandising Your ABM strategy should make top-tier accounts feel special. In a digital world, spending a bit more on tangible, physical campaign assets that customers can keep can be very effective.
- Tip: Avoid generic items like pens and mugs that may end up in the trash. Opt for more valuable items that are useful and appreciated, such as branded speakers or portable chargers.
Personalization Personalization is crucial to your ABM strategy. With the help of ABM software, you can build a detailed profile of each customer.
- Tip: Use personalized marketing to add value. Create content that solves problems specific to each customer or account sector.
Ultimately, ABM strategies are about building human relationships, so enjoy the process as you get to know and grow your best customers.
By integrating these strategic elements into your ABM approach, you’ll be well-equipped to create meaningful, personalized interactions with your target accounts, driving growth and building lasting business relationships.
