Master Account-Based Marketing in 5 Steps
In our last post, we talked about what account-based marketing (ABM) is and isn’t. It’s not a marketing strategy for the busiest of professionals, but can result in significant ROI for those who dedicate the time to mastering it. If you’re ready to dive into ABM to scale your growth and revenue, retain and expand your existing client relationships, and land your ideal accounts, let’s review the five must-know steps.
Step 1: Define Your Moby Dick
Every business has an idea of the big, white whale they want to land. For some advisors, this may be taking on a 401(k) plan for a large company, or providing retirement planning to government employees. Just as you would create your personas, identify what your ideal prospects look like. Depending on your focus and specialty, you may evaluate attributes such as:
- Geographic location
- Company size
- Business industry
- Investable asset size
- Financial goals/needs
Ideally, you should have a profile written down of your top one to three ideal clients.
Step 2: Define the Right Message
Not all content equally appeals to everyone. Based on your target audience, determine what kind of messaging will perform well. This could be videos, long-form articles, reports, webinars, or community events. Whatever form and type of content you choose, make sure it is personalized. Speak to your target client’s concerns, needs, and wants, and make it clear that you understand and know what they need to succeed.
And remember to offer valuable content for free and on a regular basis. Many pros agree that you should give away 90% of what you know. The other 10% is shared through your financial services. Offer free whitepapers, eBooks, and events that include insightful tips on retirement planning, saving on taxes, budgeting, or any other area of planning in which you specialize.
Step 3: Determine the Optimal Marketing Vehicles
As amazing as your content may be, it won’t do you much good if your ideal clients can’t find it. This is where your channels come into play. Where are your ideal clients searching for news and communicating with friends and family? For retirees, it may be Facebook. For Millennials, it could be Snapchat or Twitter. And for professionals, it’s more likely to be email and LinkedIn.
Depending on who you’re targeting, you may run multi-channel campaigns or focus on one vehicle to drive your marketing content.
Step 4: Execute Your Campaigns
Once you’ve identified who you want to target, what you’ll offer them, and where you’ll reach them, it’s time to launch your ABM campaigns. Timing here is key. If you’re using social media advertising, you won’t have to focus as much on timing as the platform will do that for you. But for email, you may need to test times and days to see which work best for you and your audience.
Step 5: Measure, Review, and Revise
The best thing you can do to ensure ABM success is to proactively monitor your campaigns, measure the results, and make adjustments as needed. Creating and launching the campaigns are half of the work; the other half is making improvements. Whether you use a CRM or other tracking software (such as Hootsuite, Google Analytics, or an email marketing platform), review how well your campaigns are performing and measure their ROI. Consider testing different platforms, times, and content pieces to see what works best.
While account-based marketing requires time, work, and resources, it can help you quantify your marketing’s contribution, target ideal clients, and land bigger accounts. Even if you don’t have time to continuously launch ABM campaigns, creating a few can help you better understand what works best in your marketing.