ABM becomes the magic formula, the “buzz word” of any good marketer looking for new ways to achieve their goals and align with sales teams. What are the fundamentals of an ABM method? How to implement it ? Discover the solution in 4 key points!
The fundamentals of ABM
Account-Based Marketing (ABM) is a B2B approach in which marketing and sales teams work together to identify and target key accounts. The objective is to concentrate efforts on high potential prospects/customers by delivering them personalized content (articles, videos, white papers, training courses, etc.) and to deploy commercial actions on the right targets. It is therefore much more efficient to determine upstream who your potential key accounts are and then to concentrate your efforts on them, where they are most present: social networks, events, media sites, etc.
ABM is fundamentally centered on prospects/customers and the quality of the experience we want them to live; they want to be informed, to receive personalized communications on their business needs and issues, not bombarded with standard or inappropriate messages. ABM thus makes it possible to deliver truly relevant content and to initiate targeted commercial actions according to their state of progress in their purchasing process.
Behavioral targeting of key accounts
It is necessary that the sales, marketing and customer relations teams are perfectly aligned for this ABM strategy to be effective. The objectives must be discussed and defined together on the basis of a proven history taking into account the client portfolio and its overall profitability ( Client Lifetime Value ) but also on the basis of “realistic” volumes. In fact, an ABM strategy is based as much on identifying the best business targets, likely to generate the most income, as on taking into account the resources that can be mobilized to treat them.
It is also possible to call on third-party data to build this pool of key accounts. At EXPLORE, we define with our clients the best business scope according to criteria that are not only “cold” (workforce, activity, turnover, etc.) but based on the analysis of a history of strategic events that have occurred in recent months or years: an increase in staff, recruitment, growth in turnover, a business merger-acquisition, news related to innovation, the signing of new markets, a move… After the calculation of a behavioral score, these companies are “sanctuarized” in the customer database as key accounts.
Dynamic monitoring of key accounts
These key accounts are then placed under surveillance through a close watch of events that will occur in the life of the company. Dedicated salespeople, like marketing, follow these targets day by day, ready to engage in dialogue in an appropriate and motivated manner. Every day, EXPLORE provides them with useful information (linked to SIRET numbers) on a wide range of news signals, in “ augmented commercial reality ” mode . Several thousand business signals , weak or strong, are thus delivered to teams, making it possible to anticipate a precursor event of opportunity. For Marketing, it is also an opportunity to create contextualized campaigns, based on the nature of the event. And for those who have automation tools, it is of course possible to feed nurturing scenarios in a highly relevant and efficient way.
Triggers for commercial engagement
Finally, the long-awaited event occurs: after having worked on the target account upstream through marketing actions, the salesperson can take action, relying on a high impact signal. The first contact is then contextualized to become a real dialogue between the salesperson and his target. A relationship of trust is then created from the first exchange. And if this scenario works for an account in conquest , we can obviously imagine it for up selling!