Using Analytics to Inform Your Account Based Marketing Strategy
by Matt O'Haver | Last Updated: Aug 5, 2022
Account-based marketing (ABM) is a strategy that targets key accounts with personalized campaigns based on data and analytics. The goal of ABM is to generate more revenue from high-value accounts by aligning sales and marketing teams around a common goal.ABM has been shown to be an effective way to increase ROI, close more deals, and accelerate revenue growth. In fact, recent studies have suggested that ABM programs generate higher ROI than traditional marketing programs.
What are Analytics?
Analytics is the process of turning data into insights. It helps businesses understand what is happening, why it is happening, and what to do next.There are many different types of analytics, but the most common type is web analytics. Web analytics is the process of collecting, analyzing, and interpreting data from website visitors.
Why Use Analytics in ABM?
ABM is a data-driven approach to marketing, and analytics is the key to understanding that data. By using analytics, businesses can track the performance of their ABM campaigns and make changes based on what is working and what is not.Analytics can also help businesses identify new opportunities for growth and expansion. For example, if a business is targeting a specific account but not seeing much success, they can use analytics to understand why that is the case.
How can Analytics be Used to Refine your Account Based Marketing Strategy
Before you can reap the benefits of ABM, you need to make sure your account-based marketing strategy is informed by data and analytics. Here are four ways to use data and analytics to inform your ABM strategy.
Use Data to Identify Target Accounts
The first step in any ABM program is to identify which accounts you want to target. This can be a daunting task, but it doesn't have to be. Use data and analytics to identify potential target accounts.Start by looking at your customer database. Look for companies that have a high lifetime value, are growing rapidly, or have recently made a large purchase. You can also use data to identify companies that are similar to your best customers.Once you've identified potential target accounts, it's time to do some research. Look for industry reports, news articles, and other information that can help you understand each company's business. This will help you determine whether they're a good fit for your ABM program.
Use Data to Create Personalized Campaigns
Once you've identified target accounts, it's time to create personalized campaigns. The goal of an ABM campaign is to generate interest and build relationships with key decision-makers at each target account.To do this, you need to create content that is relevant to each account. Use data and analytics to understand the needs of each account. What are their pain points? What are their goals?Once you understand the needs of your target accounts, you can create personalized content that speaks to those needs. This could include blog posts, ebooks, infographics, or even customized videos.
Use Data to Measure Results
The final step in any ABM program is to measure the results of your campaigns. You need to track metrics such as engagement, reach, and conversion rates. This data will help you understand what's working and what's not.It's also important to track the revenue generated from your ABM program. This will help you justify the investment and show the ROI of your account-based marketing strategy.
Use Data to Improve Your Account Based Marketing Strategy
ABM is a data-driven marketing strategy. This means that you should constantly be using data to improve your programs.Look for ways to segment your target accounts. This will allow you to create even more personalized campaigns.You should also experiment with different content formats and delivery methods. This will help you find the right mix of content and strategies that work for your business.Account-based marketing is a data-driven marketing strategy that can help you generate more revenue from high-value accounts. Use data and analytics to inform your ABM strategy and improve your results. If your looking for an implementation strategy, check out our complete ABM strategy guide.
What Are the Benefits of Using Analytics in ABM?
There are many benefits of using analytics in ABM, including:
Improve campaign performance
Analytics can help businesses track the performance of their ABM campaigns and make changes to improve results.
ABM is a data-driven marketing strategy, which means businesses can track the ROI of their programs and make changes to improve results.
Close more deals
Analytics can help businesses identify opportunities for growth and expansion, which can lead to more closed deals.
Accelerate revenue growth
ABM has been shown to be an effective way to increase revenue growth.Curious how using Account-Based Marketing can help your business grow? Start with our ABM primer: What is Account Based Marketing (ABM)?