What is Account-Based Marketing Software?
Account-Based Marketing is a digital marketing strategy, tailored specifically towards key target accounts. Whilst traditional marketing methods look to capture as many leads as possible before later qualifying them, account-based marketing inverts this traditional marketing funnel, focussing resources on a specific group of accounts, which are qualified and targeted, before the marketing process begins.
Account-Based Marketing is therefore reliant upon collating data, identifying key target accounts and allocating resources. For ABM to be effective, it’s important to curate a personalized customer experience for each of your target accounts, from identifying said accounts, all the way through to your sales pipeline. However, it can often be difficult to implement these aspects into your digital marketing strategy, particularly on a large scale. This is where the use of Account-Based Marketing software comes in.
Account-Based Marketing software is technology designed to enhance your digital marketing strategy, it also serves to help facilitate your marketing strategy and implement lead generation initiatives. There are many types of Account-Based Marketing software that be used across your marketing funnel; all of which can be used to generate data, automate the process of identifying prospects, allocate resources, improve communications, and help craft personalized purchasing journeys for your customers, just to name a few.
In this article we have put together four main ways you can use Account-Based Marketing software to boost your marketing effectiveness and success.
Account-Management Software
ABM is reliant upon gathering intelligence on your target market and specific target accounts, this is why it’s important sales and marketing teams are in alignment so that this information is communicated effectively. This ensures that everyone is working towards the same goal.
Account management software is used to manage sales accounts and monitor progress. They allow for continuous communication and organization-wide awareness on target accounts through acquiring information and communicating data about new leads.
When choosing account-management software, make sure you chose one that aligns with your ABM strategy and supports your workflows.
Examples of Account-Management software:
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Account-Based Intelligence
Account-based marketing is reliant on accounts being qualified before they become leads. In order to scale down the amount of leads at the beginning of the marketing process, and target only to the leads that match your ideal customer profile, businesses require accurate data about their potential prospects. Account-based intelligence is data that measures prospects behaviour and activity to provide context on the overall market. This helps marketers develop a list of accounts that fit their ideal customer profile, making it easier to target the right accounts. This ensures that businesses maximise their efforts on accounts that are more likely to convert, and don’t waste their time on accounts that have little interest or need for their service or product.
As account-based intelligence collects behavioural and contextual data, businesses are able to build intent data like when an prospect is actively showing interest in your company. Unlike traditional marketing methods, which are reliant on static data, account-based intelligence relies on dynamic and regularly updated data, that doesn’t just provide information on potential accounts, but crucially, shows how these accounts are interacting within the market in real-time.
Examples of Account-Based Intelligence:
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Account-Based Advertising
Account-based advertising is personalised and highly-targeted advertising, aimed at your target accounts, designed to sell to everyone in the buying process. It extends your sales strategy into your marketing, keeping sales and marketing in alignment.
Account-based advertising technology allows you to amplify your digital marketing campaigns, whilst helping to influence buying decisions and build brand awareness. It also allows you to focus your time and resources on specific accounts. Whilst this involves a certain amount of risk, as it requires a significant investment on a smaller audience, the quality of the accounts you would advertise to are higher as they are more likely to convert.
Account-based advertising allows you to target the most relevant accounts, with the most potential. Once targets are identified, you are then able to determine the best advertising methods and content, for that specific account.
This allows proactive, customised and personalised messaging towards target accounts, which is key to ABM. Data and research into your target accounts should inform your messaging, don’t make your advertising all about you and your company! Your messaging should focus on their challenges/blind spots and how you can help them. Focus on one topic at a time to avoid confusion and to keep your message clear.
Examples of Account-Based Advertising:
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Digital Personalization
Personalization is extremely important in Account-Based Marketing. At least 61% of consumers expect brands to provide a personalized experience based on their preferences, whilst 90% of leading marketers say that personalization significantly contributes to business profitability.
Digital personalization technologies allow you to design customised and tailored buying journeys for your prospects, at every stage of your sales funnel. If content and messaging is personalized at each step, it increases the likelihood of a conversion. For example, websites can be specifically personalized for each person, giving everyone a unique visitor experience.
Examples of Digital Personalization software:
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