Being specific with your marketing approach is the need of the modern era as we are living in a phase where a touch of personalisation can do wonders for your marketing strategy. The thought of being specific has given birth to many new marketing tactics. In this blog post, we are going to talk about one such marketing tool that is proving to be a magic wand for marketers and is known as account based marketing or what is more popularly known as ABM marketing.

ABM marketing is not about targeting a single lead or prospect, but it is about targeting a firm or a person that is interested in your product or service. In account-based marketing, you treat every account as their own and use a tailor-made approach for them.

You should know that account based marketing highly relies on data, and it is the data that tells you whether a person fits in the characteristics of your ideal customer or not. Because of its popularity and benefits, more than 70% of the firms are either already using it or planning to adopt.

But if you are still wondering how ABM can do wonders for your firm, you have come to the right place. Here is how a data-oriented ABM marketing strategy can help your firm.

Customer segmentation via personalisation

As discussed at the outset of the article, personalisation is what you will need to adopt to make your marketing efforts more relevant, and this is what ABM marketing is going to offer you. With the help of personalisation achieved through segmentation, you can reach out to your customers in a more specific way and maximise the chances of converting leads into prospects and then into customers.

Data analysis before ABM marketing will help you in knowing the different interests and tastes of your prospect. Then you can segment the available list based on these interests or other demographics. Later, you will be able to have the opportunity of targeting stakeholders in their target account. So, you can maximise your level of personalisation through ABM marketing.

Increase in revenue

If you start having higher ROI, then it will merely mean that you can increase your revenue as well, and this is how ABM works for your gain. You will be surprised to know that apart from keeping your budget low by not targeting useless accounts, account based marketing also helps you in maximising your ROI.

If you use ABM in your marketing strategies, you will target only selected accounts, and this will make you go all in the overall process while closing the deal. And this is a no-brainer that the accounts that you choose will have higher lifetime value. It has been seen that when you start using a data-driven ABM strategy, then it will give you the highest ROI in comparison to other marketing tools.

Enhanced customer loyalty and trust

You can’t keep on nurturing all the customers on your list because a hit and trial approach in such cases will result in wastage of resources only. We have indeed been focusing on nurturing important customers only, and we can say that ABM is a replacement for this traditional approach. Through ABM marketing, differentiating between good and bad customers becomes very easy, and that not only makes you effective but helps you to improve customer loyalty and trust as well.

By taking advantage of the data, you can personalise your approach towards loyal customers and then further nurture them without any hitches. This is how account based marketing tactics help in improving customers’ loyalty and trust since it focuses on people based on the group they belong to on the list.

Optimal source for customer feedback

There are two types of listening when it comes down to account based marketing; active and passive, and here, we are going to talk about passive listening only.

Passive listening in ABM is all about listening to the signals that are being sent by the customer. This can include both pre and post-sales calls. These insights are highly useful since it allows a firm to reach where the customers expect it to be. Since you can get customer feedback, you can even anticipate needs, and this will give you a competitive edge in the market.

Creates relevant communication channels

Instead of just sending out bulk emails and considering them as one of your most effective and relevant communication channels, you should switch to account based marketing tactics and make your communication channel thrive based on personalisation.

You should know that through ABM marketing, you will have a direct touchpoint with your customers, and thus in addition to gathering more insights, you can even nurture your customers in a much better way.

Data is the king of the modern era, and therefore, data-driven account based marketing is an ideal approach for targeting customers in a more specific way. Apart from giving you all the benefits as mentioned above, account based marketing based on data can even give you a competitive advantage and proper utilisation of your marketing resources.

About Author:

Larry Alton is a blogger and passionate writer at Managerteams.com. She loves cooking and is fond of travelling.