The Worst Advice We’ve Ever Heard About Account-Based Marketing
Account-based marketing, or ABM, is a marketing buzzword that has been growing in popularity in the past few years. Let’s look at what ABM is, debunk some bad advice surrounding ABM, and lay out some ways you can use this strategy as a small business owner.
What is Account-Based Marketing?
Account-based marketing is a structured approach to implementing highly-customized marketing campaigns to different people, businesses, or prospects (the accounts). This approach addresses the unique issues that these accounts face and tailors campaigns to speak to these issues.
More and more marketers are turning away from the mass-produced blanket marketing and are taking the time to create more segmented lists and develop customized campaigns.
What Account-Based Marketing Isn’t
Some of the worst advice we’ve heard surrounding account-based marketing is that it can only be used for large companies with advanced marketing teams and large budgets. In fact, this isn’t the case. As a small business owner, you likely do a lot of your marketing yourself. Luckily, the principles of account-based marketing can be translated to small firms.
How to Use ABM
Using automation (like our Campaigns tool) makes it easy to set up a marketing strategy based around account-based marketing. Marketing campaigns take a great deal of patience, dedication, and research. That said, though, the effort will be worth it because clients will be able to tell the hard work you put into your marketing strategy. The series of touches will show that you care, the common theme will be directly tailored to what they want to hear, and you will set yourself apart from other marketers in your field.
Let’s walk through what an ABM scenario might look like for a financial advisor:
- Imagine that you have been working with a client and they mention that their neighbor is interested in working with a retirement planning professional. You ask for their name, email, and phone number.
- You then start sending them a general market insight video about once a month.
- If they engage with your emails, you ramp up the efforts and send them some retirement planning-specific content or a blog post you recently wrote about how it is beneficial working with an advisor.
- By slowly sharing content that is relevant to the individual’s needs, you build a connection of trust.
- Hopefully, with patience and helpful content, the individual reaches out to your office to make an appointment.
These are just some of the building blocks of an account-based marketing strategy. You can start to build out your own unique plan and find out what works best for your firm. In today’s media world, there is so much noise and bombarding messages that one outreach effort won’t make a difference. ABM is a great way to continue to touch your clients and prospects with ongoing communication based on what they care about.