At the beginning of Q2 last year it was reported that 92 percent of companies recognize the value in account-based marketing (ABM) but only 20 percent have had full programs in place for more than a year.
ABM has been a valuable strategy for two decades in enterprise software marketing and sales. Great care and an incredible amount of detail is tracked in order to facilitate a relationship with the customerâ€™s entire organization. Understanding how a company is structured and what processes it employs are fundamental to building trust that increases the chance of creating a meaningful business relationship.
Enabled, and empowered
The growth of information readily available and amazing set of tools provided to marketers has enabled small and mid-sized companies to implement ABM strategies. This represents a fundamental shift in how marketing budget is spent. One example is creating custom content for a small subset of key accounts tailored specifically to their business model. Past efforts may have focused on a single piece of content meant to be consumed by tens of thousands of targeted leads.
While the old approach may have had wider reach, the ABM approach improves the chance of closing higher value deals with customers that end up having a much higher lifetime value. The relationship starts with a stronger foundation and the product/customer fit is more clearly established.
Siftrock is an essential piece of the puzzle. Automated replies you receive from broad marketing campaigns provide key insight in your target accounts â€“
- Out of office - these emails often contain additional organizational insights. Additional team members and even cross-team contacts are provided.
- Changed email address - the most common reason email addresses change is when a company goes through a re-branding process and changes domain names. This information can be leveraged for targeted messaging during the transition.
- Left company - these emails are likely to contain next-level organizational information. Often when a person leaves the company a replacement hasnâ€™t been hired yet which generally results in the individualâ€™s boss being named as the next point of contact.
- Human replies - in our own marketing efforts weâ€™ve often gotten a human response to an email blast that informs us we are not reaching the correct person. These replies push us in the right direction and open up more detail about our target customerâ€™s organization.
Account-based marketing isnâ€™t a passing fad. Itâ€™s a proven strategy that enterprise marketers have depended on for many years.
With practical application to small and mid-sized companies a reality, savvy marketers are already taking advantage. We happily count our customers among them!