{"id":14735,"date":"2018-05-23T14:45:59","date_gmt":"2018-05-23T20:45:59","guid":{"rendered":"https:\/\/www.fullcontact.com\/?p=14735"},"modified":"2021-11-09T04:59:43","modified_gmt":"2021-11-09T11:59:43","slug":"pmk-6-ways-know-account-based-marketing-right-b2b-business","status":"publish","type":"post","link":"https:\/\/www.fullcontact.com\/blog\/companies-we-love\/pmk-6-ways-know-account-based-marketing-right-b2b-business\/","title":{"rendered":"6 Ways To Know if Account-Based Marketing is Right For Your B2B Business"},"content":{"rendered":"<p>If you\u2019re considering a leap into account-based marketing (ABM), you\u2019ll probably have a few questions. It\u2019s a big investment and your first questions should be: How do I know if ABM is right for my business?<\/p>\n<p><a href=\"https:\/\/www.hatchbuck.com\/blog\/introduction-account-based-marketing\/\" target=\"_blank\" rel=\"noopener noreferrer\">ABM<\/a> is a buzzy marketing strategy in the B2B world, and you may be tempted to jump right in just because you hear it heralded constantly as a more efficient way to grow sales. But in truth, it\u2019s not for every business.<\/p>\n<p>The TL;DR version of this article: ABM is perfect for <a href=\"https:\/\/www.hatchbuck.com\/blog\/is-an-agile-marketing-process-right-for-your-team\/\" target=\"_blank\" rel=\"noopener noreferrer\">agile businesses<\/a> with a bit of leeway in their marketing budgets, connections in their industry and big-fish accounts that comprise the bulk of their target market. Now, let\u2019s break down that sentence into its logical components, each of which should apply to you if you want to seriously contemplate account-based B2B marketing.<\/p>\n<p>Ask yourself these questions, and if the answer is \u201cyes\u201d to most (or even all!) of them, then you\u2019re in good shape.<\/p>\n<h2>1. Can you afford the investment in ABM?<\/h2>\n<p><span style=\"font-weight: 200;\">This style of marketing is a major investment. The internal resources you\u2019ll need are:<\/span><\/p>\n<ul>\n<li>Tailored content creation<\/li>\n<li>Modified landing pages<\/li>\n<li>Shaped sales funnels<\/li>\n<li>Higher wages to staff for longer processes<\/li>\n<li>Quick analysis of data in real-time<\/li>\n<li>Regularly adjusted data based on results<\/li>\n<\/ul>\n<p>Legacy companies may have established ABM efforts already in place, but if you\u2019re reading this, there\u2019s a good chance you\u2019re just getting started. Don\u2019t sweat it. As a newcomer, you\u2019re in a great position to disrupt the legacy mindset and prove yourself a contender in your industry sphere.<\/p>\n<h2>2. Will your ABM investment pay off?<\/h2>\n<p>If you answered \u201cyes\u201d to the first question, that\u2019s awesome\u2014but it\u2019s not enough.<\/p>\n<p>Your B2B business must also be able to return your investment, and it\u2019s typically not worthwhile for companies that serve small customers in high volume. There\u2019s a reason we recommend starting off with just a dozen or so targeted ABM accounts. The marketing style, by definition, lends itself to a few, highly qualified accounts. You have to hone in on your target customers realistically and get a conversion, not just attract more leads.<\/p>\n<h2>3. Do you know exactly who you&#8217;re marketing to?<\/h2>\n<p>ABM works best when you already know exactly who your <a href=\"https:\/\/www.hatchbuck.com\/blog\/3-steps-narrow-target-market-get-best-results\/\" target=\"_blank\" rel=\"noopener noreferrer\">ideal customers<\/a> are. If you\u2019re a B2B business selling POS (point-of-sale) units in New York City, you might start by looking at your most profitable customers. Once you know who you need to be marketing to, you can create a targeted list with the key decision makers at your key accounts.<\/p>\n<p>Then, hyper-target the myriad independent cafes, restaurants and stores that are similar to your best customer and are opening up in New York within the next year. By targeting them specifically, you can increase the chances they will be interested in learning more about your product.<\/p>\n<p>Traditional marketing strategies would not involve targeting these accounts specifically; instead you might create a number of \u00a0<a href=\"https:\/\/www.hatchbuck.com\/blog\/ppc-campaign-strategy\/\" target=\"_blank\" rel=\"noopener noreferrer\">PPC campaigns<\/a> or start an <a href=\"https:\/\/www.hatchbuck.com\/blog\/difference-traditional-modern-marketing\/\" target=\"_blank\" rel=\"noopener noreferrer\">inbound marketing campaign<\/a> with blogs and webinars. And that would work fine to drive traffic and fill the sales funnel, it\u2019s worthwhile to keep those efforts going simultaneously.<\/p>\n<p>But inbound marketing, almost by definition, is a waiting game. It relies on casting a wide net in hopes that you have handful of qualified leads in the end. \u00a0If you know who you\u2019re going after, why wait for them to find you? Why not find them?<\/p>\n<div id=\"attachment_14741\" style=\"width: 626px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/www.quickmeme.com\/\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-14741\" class=\"wp-image-14741 size-full\" src=\"https:\/\/www.fullcontact.com\/wp-content\/uploads\/2018\/05\/meme.jpg\" alt=\"\" width=\"616\" height=\"400\" \/><\/a><p id=\"caption-attachment-14741\" class=\"wp-caption-text\">http:\/\/www.quickmeme.com\/<\/p><\/div>\n<h2>4. Does your target customer know you exist?<\/h2>\n<p>The answer to this is probably going to be \u201cno,\u201d particularly if you\u2019re a smaller B2B business. That\u2019s a good thing. Account-based marketing makes the most sense if you\u2019re trying to introduce your company to someone.<\/p>\n<p>This is the disruptor\u2019s mindset for good reason. If you are a known brand such as <a href=\"https:\/\/hootsuite.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Hootsuite<\/a>, you may be using ABM on a more sophisticated enterprise level. But the truth is, prospects will find Hootsuite in a simple Google search while looking for social media management platforms.<\/p>\n<p>On the other hand, if you\u2019ve created a social media management platform and nobody has ever heard of you, then ABM is your gateway ticket to name recognition.<\/p>\n<p>DuckDuckGo, a relatively small search engine focused on user privacy, is not a B2B company, but they use this mentality well in their Twitter ads:<\/p>\n<p>&nbsp;<\/p>\n<div id=\"attachment_14743\" style=\"width: 630px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/twitter.com\/DuckDuckGo\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-14743\" class=\"wp-image-14743 size-large\" src=\"https:\/\/www.fullcontact.com\/wp-content\/uploads\/2018\/05\/Picture1-620x398.jpg\" alt=\"https:\/\/twitter.com\/DuckDuckGo\" width=\"620\" height=\"398\" \/><\/a><p id=\"caption-attachment-14743\" class=\"wp-caption-text\">Shots fired by DuckDuckGo<\/p><\/div>\n<p>Odds are very few people had heard of DuckDuckGo before, but the ad\u2014repeated often enough in Twitter feeds targeted at their ideal audience\u2014is a great way to boost your name recognition and drive an online conversation. In ABM, that\u2019s half the battle.<\/p>\n<h2>5. Do you already create distinct, engaging content?<\/h2>\n<p>If the answer is \u201cyes,\u201d good. Keep it that way. Note that this shouldn\u2019t be a distinct requirement for companies using ABM; it\u2019s just always a good idea to have <a href=\"https:\/\/www.hatchbuck.com\/resources\/content-marketing-playbook\/\" target=\"_blank\" rel=\"noopener noreferrer\">content<\/a> that resonates with your personas.<\/p>\n<p>If the answer is \u201cno,\u201d you\u2019ve got some legwork to do before getting into the ABM game.<\/p>\n<h2>6. Are your sales and marketing teams working together?<\/h2>\n<p>When your sales and marketing teams are not communicating, odds are you\u2019re working with a legacy mindset that assumes handing off leads means the marketing team\u2019s job is done. This isn\u2019t ideal\u2014it keeps valuable information siloed off between divisions and hinders the sales process.<\/p>\n<p>If your sales and marketing teams are already aligned, then you\u2019re set\u2014ABM is a natural transition. Your company culture is already well-positioned to target your big-fish leads.<\/p>\n<p>And if you\u2019re still in the legacy mindset, there\u2019s good news: it\u2019s never too late to transition. Start with <a href=\"https:\/\/www.hatchbuck.com\/product-tour\/small-business-crm\/\" target=\"_blank\" rel=\"noopener noreferrer\">an all-in-one sales and marketing CRM<\/a> and track your target customers along the sales funnel from start to finish. Adjust your marketing efforts as you discover what leads to real conversions and keeps your business thriving.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re considering a leap into account-based marketing (ABM), you\u2019ll probably have a few questions. It\u2019s a big investment and your first questions should be: How do I know if ABM is right for my business? ABM is a buzzy marketing strategy in the B2B world, and you may be tempted to jump right in [&hellip;]<\/p>\n","protected":false},"author":75,"featured_media":14740,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_improvement_type_select":"improve_an_existing","_thumb_yes_seoaic":false,"_frame_yes_seoaic":false,"seoaic_generate_description":"","seoaic_improve_instructions_prompt":"","seoaic_rollback_content_improvement":"","seoaic_idea_thumbnail_generator":"","thumbnail_generated":false,"thumbnail_generate_prompt":"","seoaic_article_description":"","seoaic_article_subtitles":[],"footnotes":""},"categories":[470,65,99],"tags":[246,562,563,168,530,564,85],"class_list":["post-14735","post","type-post","status-publish","format-standard","hentry","category-partnership","category-companies-we-love","category-marketing-sales","tag-b2b-sales","tag-abm","tag-account-based-marketing","tag-marketing-2","tag-b2b","tag-hatchbuck","tag-fullcontact"],"acf":[],"yoast_head":"<!-- This site is optimized with the 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