This document discusses account-based marketing strategies for driving results through advertising. It begins with an overview of account-based marketing and identifies the key accounts to target. It then covers strategies for account-based advertising, including best practices for creative, landing pages, and measuring results. Practical examples are provided for different campaign goals like acquiring new prospects, generating leads, customer engagement, and competitive conquesting. The document concludes with a discussion of testing strategies and measuring campaign performance.
So let’s recalibrate our approach >> focus on accounts, then segment…
B2B marketing is a clear focus on the targets that are actually most likely to be customers. When we step back and take a look at the universe of businesses (in the U.S. in particular), there are some finite boundaries we can use to more accurately target our marketing.
Out of 28 million U.S. companies (according the the latest US Census data):
Only 6 million have 1 or more employees…(22 million are sole proprietarships, legal entities only, or something else) – ~20%
200,000 have $10 million+ revenue per year
20,000 have $100 million+ revenue per year
2,000 have $1 billion+ revenue per year
In our work with a broad range of B2B marketers, we find that their focus is usually on somewhere between 2,000-5,000 companies at the most (depending on your business, size, market, etc.), and is based more factors than just revenue… like industry, geolocation, technology usage, or something else.
Taking it a step further: At a given time, you’re probably hyper-focused on an even smaller piece of the pie…trying to drive your 300-500 top target accounts that will make up the next half-year to year’s revenue.
TRANSITION: With this in mind, it’s curious why anyone would ever use broad-based marketing tactics to drive awareness, engagement, and conversion with such a finite group of companies?
So how can you overcome these challenges and be laser-focused on the companies you can actually sell to?
It’s called Account-Based Marketing or ABM, and it’s quickly becoming the primary strategy for best-in-class B2B companies.
Account-Based Marketing can be done in several flavors, but is broadly characterized as targeting and marketing to specific companies or segments based on their business attributes (firmographics) like: industry, size, revenue, geography, account status, and more.
3A. ENTERPRISE
There are consultants, agencies, or solution providers that would paint ABM as complex and difficult…they may have a vested interest in that way of thinking.
It’s actually very simple and straightforward…
And not only helps alignment, but also makes things more simple and clear cut for marketers
Many large companies use the strategy to target and market to a specific set of existing customers, across marketing channels, for upsell and cross-sell
3B. MID-MARKET
You can’t afford to do something complicated and involved
ABM is a great way to focus effort in a specific vertical like tech, healthcare, finance, etc. Or can even include targeting businesses who use a competitive or complementary technology
ABM is a very straightforward approach that can help you “hack” revenue growth and get a competitive advantage
ABM Simplified:
Identify – the accounts that sales values most and is most likely to close
Market – attract, engage and convert those account to prime them for a sales opportunity
Measure – keep Sales in the loop, and show them which accounts are progressing, which need attention…collaborate on actionable insights
There are some really good reasons why account based marketing makes sense for B2B businesses…
Focuses on the best opportunities… you select, using a solution like Fliptop, the accounts that have the best potential…you’re not going for volume, your are looking for quality
ABM supports sales reality… deliver on their target accounts, and you align with the accounts that are most important to them.
Deliver a more personalized, customer centric experience by focusing on a more limited set of customers.
Should be upfront…this is the “Why use advertising” and justification for it.
B2C ad creative is transactional – try this, discount code, etc… Why b2b creative needs to be engaging for long term…
Who would we be trying to engage – very top of funnel, research phase prospect (or customer)
There are four important parts in Campaign Planning for a target account list:
Identify the companies most valuable to you – your most valuable companies ALWAYS align with revenue. If you choose the right targets, the ROI will be much easier to uncover.
What do you need to say to each segment
Need a clear strategy for creative messaging to each segment at each stage in the buyer’s journey – both offsite and onsite!
How do we measure the impact of putting the right message in front of the right segment? KPIs for advertising and website are different - advertising is (lift/visits) and website (lower bounce rates and higher conversions for that group of target accounts).
4 segments important to Marketers
Lets examine Net New Prospects, SAL/MQLs, Competitive Conquesting, and Customer Engagement
We’ll look at each segment and analyize how to win!
How do they WIN with net-new prospects
Industry Personalization introducing Iron Mountain’s services for this industry…
Need more strategy here… ABRetargeting…
Have a hypothesis – if I add more visuals or less, if I include pricing information or not…
Test Meaningfully with a limited number of variables: the headline, the right column, the call to action or the overall page layout
TO GET TO THIS POINT – THESE CLIENTS A/B TESTED…
What accounts do I care about?
What content do I want them to engage with?
What are the desired actions?
How do I measure results?