First of all, let’s talk about what account-based marketing (ABM) is.

In two words, ABM is a strategic approach for B2B that is based on ACCOUNT engagement. Not users or leads—the crucial difference is that we’re working with accounts through a collaborative strategy involving both marketing and sales teams. Instead of casting a wide net to attract as many leads as possible, ABM focuses on identifying key accounts and creating personalized campaigns to convert them into customers.

Since we’re talking about accounts, we should switch from defining the target persona to defining the buying committee.

Steps in ABM Implementation

1. Identifying and Prioritizing Accounts

The first step in ABM is to identify and prioritize accounts that have the highest potential value to the business .

This involves analyzing firmographic data (e.g., industry, company size, revenue) and behavioral data (e.g., website visits, content engagement). By leveraging data analytics and CRM tools, businesses can pinpoint accounts that are most likely to benefit from their products or services and have the potential to generate significant revenue.

To enhance your Account-Based Marketing (ABM) strategy you can leverage:

  •  LinkedIn Sales Navigator

LinkedIn Sales Navigator is a powerful tool for identifying and connecting with key decision-makers within your target accounts

ZoomInfo provides comprehensive data on companies and professionals, helping you build accurate target account lists and gain insights into key decision-makers.

  •  HubSpot

HubSpot offers a range of ABM tools as part of its CRM and marketing platform.

6sense uses AI-driven insights to help you identify and engage with in-market accounts.

Crunchbase provides detailed information on companies, including their industry, size, revenue, funding status, and key decision-makers.

2. Defining the Buying Committee

The first step in ABM is to identify and prioritize accounts that have the highest potential value to the business. This involves analyzing firmographic data (e.g., industry, company size, revenue) and behavioral data (e.g., website visits, content engagement).

Next, we need to define the buying committee. For example, for a SaaS company selling a new software solution to a mid-sized business, the buying committee will include:

  • Decision-Maker: CTO (Chief Technology Officer)
  • Influencers: IT Manager, Finance Manager
  • Users: IT Staff, Department Employees
  • Gatekeepers: Executive Assistant to the CTO, Procurement Specialist
  • Buyers: Procurement Manager
  • Champion: Project Manager advocating for the new software

3. Creating Custom Content

Once we have defined the buying committee, we need custom content for different roles that speaks directly to the needs and pain points of each role. This could include tailored blog posts, whitepapers, case studies, videos, and emails. All this content will be distributed across multiple channels

4. Sales sequences and reach out.

In the context of Account-Based Marketing (ABM), sales sequences refer to a series of planned and automated steps or touchpoints  with the buying committe edesigned to engage with within target accounts. The every step should be designed to achieve specific Goal at the stage:

  1. Define the struggle
  2. Presenting solution
  3. Reduce hesitation and doubts 

5. Analytics and tracking

Analytics and tracking are crucial components of Account-Based Marketing (ABM) as they provide insights into the effectiveness of your campaigns, help measure ROI, and guide strategic decisions. Here’s a comprehensive guide to analytics and tracking in ABM:

Key Metrics to Track in ABM

  1. Account Engagement
  2. Pipeline Metrics (Contacts / Leads / Demos/ Opportunities)
  3. Revenue Metrics (Deal Velocity / Average Deal Size / Win Rate)
  4. Return on Investment (ROI)

However, the trickiest and most challenging aspects are still:

  1. Sales and Marketing Alignment: ABM requires close alignment between marketing and sales teams. This coordination can be difficult to achieve because these departments often operate in silos with different goals and metrics. Effective ABM strategies demand that both teams work together to identify target accounts, develop personalized content, and engage prospects throughout the buying journey.
  2. CRM and Marketing Automation and Tracking: Measuring the success of ABM campaigns is complex. Unlike traditional marketing, where metrics like leads and conversions are straightforward, ABM focuses on account-level engagement and revenue impact. Determining the ROI of ABM efforts requires sophisticated attribution models and tracking mechanisms.

Overcoming ABM Challenges

1. Aligning sales and marketers

Setting mutual goals and aligning KPIs through the marketing and sales departments, ensuring that both teams have a shared understanding of target accounts and the goals of the ABM strategy, is crucial for success.

2. Investing in Technology

Investing in the right technology is vital for ABM success. This includes advanced CRM systems, marketing automation platforms, and analytics tools. These technologies should be integrated to provide a seamless flow of data and insights, enabling marketers to create personalized content and track engagement effectively.

3. Continuous Optimization

ABM is not a one-time effort but an ongoing process. Continuous optimization of ABM campaigns based on data insights and feedback is crucial. Regularly reviewing the performance of campaigns, adjusting strategies, and refining content based on what resonates with target accounts can lead to better results over time.

Conclusion

Implementing ABM strategies in B2B settings is challenging due to the need for precise coordination between sales and marketing teams and the complexity of tracking and measuring account-level engagement. However, with a focused approach and the right tools, businesses can effectively target high-value accounts and achieve significant results.