As a B2B marketer, you want to use account-based marketing (ABM) to communicate and reach out to your target audience. This is an effective strategy because it helps you reach more people with your message and increase sales leads.
Account-based marketing is a powerful new way to do business marketing. It helps companies optimize sales, drive leads and build closer relationships with existing and prospective clients.
However, there are common mistakes that you can make when using ABM. These mistakes may hurt your company’s reputation and hurt the potential of converting prospective customers into paying customers.
This blog covers:
- What is account-based marketing about?
- 10 common ABM mistakes to avoid
- Account-based marketing best practices
Let’s dive in!
#1. What is account-based marketing about?
Account-based marketing is a term that’s been thrown about by many B2B companies for the past two decades. A Hubspot report says that 70% of marketers are using account-based marketing (ABM) today, compared to 15% in 2020. This substantiates the idea that account-based marketing (ABM) is a very powerful and efficient way to target your ideal prospects.
Account-based marketing is a sales methodology that focuses on targeting specific accounts and using a variety of techniques to help you convert those accounts into customers. It requires an understanding of your target audience, which can be difficult if you don’t have a deep understanding of your customer needs. ABM involves using buyers’ buying behavior and interaction with you as a business to directly influence their buying process. It is a smart, strategic approach to creating individualized experiences for specific audiences.
Many B2B companies are starting to see ABM as a way of improving company growth through creating targeted advertising campaigns and maximizing brand exposure by utilizing the right channels. It is just a matter of time for every business in the B2B space to adopt this marketing technique because it helps them create value for their customers.
#2. 10 common ABM mistakes to avoid
With account-based marketing leveraging the interconnectedness of consumers, businesses, and other actors to create a holistic customer experience, many B2B marketing professionals still do not use it properly. However, here are some mistakes and traps B2B marketers should avoid for their company to benefit from this technique:
#a. Not having the right ABM strategy for your business
Your ABM strategy should be based on what you know about your customers and what you want to achieve with your business. It’s important to have a clear plan in place before you start marketing so that you know exactly how and where to spend your money. This will help ensure that all of your marketing efforts are going toward the right places and reaching the right people.
#b. Not making marketing decisions based on data
If you’re not using data-driven decision-making in your marketing, then you’re missing out on opportunities to improve customer experience and increase revenue over time—and that means wasting dollars. Ensure you’re making decisions based on data or insights. A good way to avoid this mistake is by using data analysis tools to figure out what works best for your business.
#c. Not having an ideal customer profile and persona
Not having an ideal customer profile is a common mistake many B2B marketers make. You’ll never be able to find accounts unless you have an idea of who they are and what they want from your brand—so ensure that all accounts have profiles before collecting data from them or launching any kind of campaign.
#d. Not keeping the customer’s needs and interests in mind
When developing an account-based marketing strategy, you need to focus on what your customer wants and needs, not just what you think they want. This will help you create an ABM strategy that is more effective and sustainable than one based solely on what you think your customer wants.
#e. Using ineffective social media and SEO strategies
Social media and search engines are great for sharing information quickly and getting in front of people who need your product or service. Your social media and SEO strategies can be extremely effective if used correctly. However, if you don’t take into account the needs of your audience, then any efforts put into them might not be as effective as they could be.
#f. Not being consistent, time-conscious, and adaptable
While building an effective ABM strategy, avoid the mistake of inconsistency, and inability to pay attention to time and change. Ensure your ABM efforts are ongoing and adaptable to changing circumstances and conditions both within your company and outside it. This will make it sustainable.
#g. Not conducting sufficient research on your target audience
It’s not enough to have a great idea. You have to make sure that your target audience will be interested in what you have to offer, too. Ensure to do some research on them before you begin developing an account-based marketing campaign. This way, you can ensure that your product or service matches their needs and interests in the best possible way.
#h. Not having a strategy that fits your business
Businesses need to have a clear strategy for how they’re going to use their marketing dollars, especially if they want their efforts to be successful. Having a befitting strategy in place can help ensure that the money invested is making sense both from a return on investment perspective as well as from a long-term perspective as well.
#i. Not following through on ideas that worked
Do not make the mistake of ignoring ideas that worked in the past. it’s important for businesses not only to follow through on ideas that worked in the past but also to try new things that haven’t been tried before too—even if they might turn out differently than expected.
#j. Hiring the wrong people for your ABM efforts
It is not enough to let a marketing agency help you manage your ABM campaigns. You have to hire the right team. You have to ensure that their work ethics align with your marketing goals. If you only have a few hundred dollars to spend on an ABM agency, then make sure you’re spending it on an agency like Digitalzone.
#3. Account-based marketing best practices
Every company is unique and has different goals when it comes to marketing and sales. In addition, marketing teams usually have different content objectives. However, to have the greatest impact on content success, these goals must align in an ABM strategy. Here are 10 best practices to consider when building an ABM strategy:
- Ensure your site is optimized for search engines
- Ensure you optimize your ABM content for SEO
- Ensure your ABM content is tailored to your target audience
- Use different formats to repurpose your ABM content
- Incorporate design into your ABM content
- Create an ABM content that interacts with your audience
- Use content to establish trust and relationships
- Take advantage of data to make decisions about high-value account
- Identify key stakeholders and market to them directly
- Choose the appropriate marketing platform for your ABM campaigns
As a B2B marketing professional, you need to be aware of all the mistakes that can lead to the failure of your account-based marketing program. Do not adopt a one-size-fits-all mentality. Spend enough time on your account-based marketing efforts. Also, spend more time on building close relationships with customers than on digital marketing tactics. Don’t forget to fully understand your customers’ interests and needs. Avoiding all these common mistakes while getting started with ABM will help your campaign become successful.
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Using a global B2B database of 71 million companies, we have created and managed 46,872 successful campaigns for companies based in the USA.
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