Marketing directly to accounts your business has targeted as prospects can be extremely cost-efficient. This is particularly true if you are using some of the newer social platforms' tools that enable targeting specific companies or organisations. For those businesses that know precisely who their most attractive targets are, ABM makes a tremendous amount of sense from a budget perspective. - Diana Wolff, LRG Marketing
It's no surprise that the COVID-19 pandemic has left a lasting impact on businesses all around the world. With budgets cut in 2019 and 2020, many were hoping for a bounce-back of spending in 2021. However, Gartner found that marketing budgets dropped even further, down to 6.4% of overall company revenue, from 11% in 2020. This creates a challenge for many marketers, who are expected to deliver results with a stagnant or shrinking budget.
Thankfully, there is a B2B marketing method that can help in this regard.
Get the most bang for your buck with ABM
Account-Based Marketing (ABM) is a hyper-focused approach to marketing. Where traditionally B2B marketers would try to appeal to as many companies as possible within a specific market, ABM focuses on delivering personalised campaigns designed with very specific companies in mind. Where other B2B marketing is like a shotgun, ABM is like a sniper rifle.
This B2B marketing approach brings with it a number of key benefits:
- Fewer poor quality leads – Since ABM is a much more focused approach, you’re not having to sift through dozens of leads that are a poor fit for your business. This also results in more efficient use of resources.
- Higher acquisition and ROI – There’s no doubt about it: personalisation works. This infographic from Media Update highlights how 44% of consumers are likely to become repeat buyers, 33% are likely to share their experience with friends and/or family, 32% are likely to leave a positive review, and 22% are likely to post a positive comment on social media. ABM takes personalisation and adapts it for the B2B space.
- Clearer ROI – A more focused campaign will naturally provide you with a much more focused set of results, allowing you to better understand what worked for a specific campaign and what didn’t.
ABM offers a number of benefits to B2B marketers who are hoping to make the most impact with limited resources.
To learn more about how you can take advantage of ABM, take a look at our guide here. In this guide, you'll learn why ABM is shaping B2B marketers approach to marketing, how ABM helps you align with high-value accounts and the best way to implement an ABM strategy.