Account-based marketing, a digital marketing strategy that sees businesses communicate with individual prospects rather than with customer segments, has gathered momentum over the last year. According to the State of Account-based Marketing Study, a 2015 report by US-based research firm Sirius Decisions, 92 per cent of companies recognise the value of account-based marketing and 60 per cent were planning to invest in platforms to better align sales and marketing in the coming year.
But although account-based marketing can help tailor campaigns that are personalised, actionable, and measurable, it’s worth knowing when to take the plunge. Here are three clues that it’s time to consider account-based marketing.
- You could benefit from better targeting of your customers
Are you still spending money on running print ads or TV campaigns or wasting hours posting direct mail? Account-based marketing makes it simple to run highly targeted programs that include features such as real-time ad buying. This marketing strategy understands that your ideal customers aren’t static but moving targets whose preferences and behaviours always shift. In the digital age, this can supercharge your marketing campaigns and bolster your return on investment.
- You’re short on resources
Traditional marketing campaigns often demand a high proportion of manual labour and put a drain on your resources and time. However, account-based marketing is almost entirely automated, enabling you to launch programs without any additional administration. After you’ve used segmentation to compile your target list, prospecting will happen automatically, and you’ll need fewer account managers to oversee more accounts. This leaves your team the time and space to focus on strategy and customer service.
- You’re working towards measurable and actionable marketing campaigns
Such marketing campaigns might be the end goal of savvy marketers, but in practice, they’re difficult to achieve. Account-based marketing lets you track metrics such as engagement levels, conversion rates, and sales outcomes, allowing you to adjust your approach as you go along.