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The Complete Account-Based Marketing (ABM) Strategy Guide

A comprehensive guide to understanding and executing an account-based marketing strategy.

Last Updated: Aug 2, 2022

Hello and welcome to The Complete Account-Based Marketing (ABM) Strategy Guide. In this guide, we'll discuss everything you need to know about ABM to create a successful strategy for your business.

We'll cover topics such as what ABM is, why it's important, the different components of an effective ABM strategy, and how you can go about implementing one at your company. By the end of this guide, you'll have all the information you need to get started with ABM and see success for your business.

So let's get started!

What is Account-Based Marketing?

Account Based Marketing (ABM) is a marketing strategy that focuses on key accounts rather than targeting a larger audience. This approach is usually taken when trying to win over large, complex customers with multiple decision-makers.

With ABM, businesses create personalized campaigns specifically targeted at the needs of each account. The goal is to create a long-term relationship with the account rather than just making a one-time sale.

ABM can be an effective way to win over new customers and grow revenue. However, it requires a high level of customization and personalization, which can be time-consuming and expensive. Additionally, because ABM is focused on a small number of accounts, it can be challenging to scale.

Why is ABM Important?

  • Helps businesses focus their resources on key accounts: By targeting a small number of accounts, businesses can ensure that they are using their resources in the most efficient way possible.
  • Creates personalized campaigns: By customizing campaigns specifically for each account, businesses can create a more personal relationship with the customer. This can be especially important for large, complex customers who have multiple decision-makers.
  • Can be more effective than traditional marketing approaches: Because ABM is focused on key accounts, it can be more effective than traditional marketing approaches, which often take a one-size-fits-all approach.
  • Helps businesses grow revenue: By targeting large, complex customers, businesses can potentially increase their revenue. Additionally, by creating long-term relationships with key accounts, businesses can generate repeat business.

The more you know about your target audience, the easier it becomes to market to them successfully. Segmenting your target market and using account-based marketing techniques can help you focus your resources on the accounts that are most likely to convert, resulting in a higher return on investment for your marketing efforts.

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The Different Components of an Effective ABM Strategy

There are many different components that go into an effective Account Based Marketing strategy. Here we will discuss some of the most important ones and how they all fit together.

  • Define your Ideal Customer Profile: This is probably the most important part of your ABM strategy. You need to have a very clear idea of who your ideal customer is before you can start targeting them effectively. Spend some time brainstorming and doing market research to narrow down who your ideal customer is and what they are looking for.
  • Create Targeted Content: Once you know who your ideal customer is, you need to create content that is specifically tailored to them. This content should be designed to address their specific needs and pain points. If you can provide them with valuable information that helps them solve their problems, they will be more likely to do business with you.
  • Personalized Outreach: Once you have targeted content, you need to reach out to your ideal customers and give them a personalized message. This could be done through email, social media, or even direct mail. The key is to make sure that your message is tailored specifically to their needs and that it stands out from the noise of all the other marketing messages they are bombarded with on a daily basis.
  • Nurture Your Leads: Even if you are able to get in touch with your ideal customers and give them a personalized message, there is still a good chance they will not be ready to buy from you right away. That’s why it’s important to nurture your leads and keep in touch with them over time. You can do this by sending them additional targeted content, following up with them periodically, and offering them exclusive deals or discounts.
  • Close the Sale: Once you have built a relationship with your ideal customers and nurtured your leads, it’s time to close the sale. This is where having a strong sales team comes in handy. They will need to be able to effectively communicate your value proposition and close the deal.
  • Retain Your Customers: Just because you’ve closed the sale doesn’t mean your job is done. You need to work hard to retain your customers and keep them coming back for more. This can be done by providing them with excellent customer service, continuing to nurture your relationship with them, and offering them new products and services that they may be interested in.

By following these steps, you can create an effective Account Based Marketing strategy that will help you attract and retain more customers. Just remember to always keep your ideal customer in mind and tailor your content and outreach specifically to them. If you do this, you’ll be well on your way to success.

How does an ABM strategy differ from another form of marketing strategy?

To put it simply, an ABM strategy is a laser-focused way of marketing to a specific list of target accounts with the goal of driving revenue growth. Unlike other marketing strategies that focus on generating leads or building brand awareness, an ABM strategy is all about driving results for your business by engaging directly with key decision-makers within your target accounts.

This type of focused approach requires a different mindset and set of tactics than more generalized marketing efforts. Here are a few key ways an ABM strategy differs from other marketing approaches:

  1. Account Segmentation: In order to create an effective ABM strategy, you'll need to segment your target accounts into categories based on factors like size, industry, location, etc. This level of account segmentation is critical in order to ensure you're targeting the right accounts with your marketing efforts.
  2. Personalized Messaging: Once you've segmented your target accounts, you'll need to create personalized messaging that resonates with each account. This means taking the time to understand the specific pain points and needs of each account, and then creating messaging that addresses those needs directly.
  3. Multi-Channel Engagement: An effective ABM strategy requires engagement across multiple channels, including paid media, events, direct mail, and more. The goal is to reach your target decision makers through the channels they use most frequently, in order to maximize the chances of getting your message in front of them.
  4. Measurement & Reporting: Finally, an important part of any ABM strategy is measurement and reporting. You'll need to track the results of your efforts in order to continue refining and improving your strategy over time. Additionally, regular reporting will help you demonstrate the ROI of your ABM efforts to stakeholders within your organization.

If you're looking for a more focused, results-driven approach to marketing, an account-based marketing strategy may be the right fit for your business. By segmenting your target accounts, creating personalized messaging, and engaging across multiple channels, you can drive real results for your business. And by measuring and reporting on your progress, you can continuously improve your ABM strategy over time.

Implementing an ABM Strategy at Your Company

If you're interested in pursuing an account-based marketing strategy at your company, there are a few key things to keep in mind. First and foremost, you'll need to ensure that you have the right team in place. This means having sales, marketing, and account management professionals who are all committed to the success of your ABM strategy.

You'll also need to make sure that you have the right technology in place to support your ABM efforts. This includes having a CRM system that can segment and target your accounts, as well as marketing automation software that can help you execute personalized campaigns.

Finally, it's important to keep in mind that an ABM strategy requires ongoing effort and attention. You'll need to continuously monitor your progress and adjust your approach as necessary to ensure that you're achieving the desired results.

With these things in mind, you'll be well on your way to successfully implementing an ABM strategy at your company.

Why does planning your ABM strategy help in the long run?

There are a few key reasons why planning out your ABM strategy can help you in the long run. First, it allows you to be more strategic in your approach. This means that you can focus your efforts on the accounts that are most likely to generate results instead of wasting time and resources on accounts that are unlikely to convert.

Second, it helps you to better track and measure your progress. By having a clear plan in place, you'll be able to more easily track your progress and see which areas of your strategy are working and which need to be tweaked. This feedback will be invaluable as you continue to refine and optimize your ABM strategy over time.

Finally, planning out your ABM strategy ahead of time can help to save you time and money in the long run. This is because you'll be able to avoid making common mistakes that can often cost companies both time and money.

By taking the time to plan your strategy ahead of time, you can avoid these costly mistakes and set yourself up for success.

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How can you measure the success of your ABM strategy?

There are a few key metrics that you can use to measure the success of your ABM strategy. First, you'll want to look at the number of new accounts that you're able to generate. This will give you a good idea of how effective your outreach efforts are and whether or not you're targeting the right types of accounts.

Second, you'll want to track the conversion rate of your leads. This metric will tell you how many of your leads are eventually converting into customers. Keep in mind that it can take some time for leads to convert, so don't expect too much too soon.

Finally, you'll want to keep an eye on your customer retention rate. This metric will show you how many of your customers are sticking around and using your product or service on a long-term basis. A high customer retention rate is a good sign that your ABM strategy is working.

By tracking these key metrics, you'll be able to get a good idea of how effective your ABM strategy is and whether or not it's achieving the desired results.

What are some common mistakes companies make with their ABM strategy?

There are a few common mistakes that companies make when implementing an ABM strategy. First, they often try to cast too wide of a net and target too many accounts at once. This can lead to unfocused efforts and ultimately, low conversion rates.

Second, they may not invest enough in technology and tools to support their ABM efforts. This can make it difficult to effectively execute personalized campaigns and track progress over time.

Finally, some companies fail to monitor their progress and make necessary adjustments to their strategy. This can lead to stagnation and a loss of momentum over time.

By avoiding these common mistakes, you'll be well on your way to successfully implementing an ABM strategy at your company.

Conclusion: Getting Started with ABM for Your Business

As you can see, ABM is a complex and comprehensive marketing strategy that requires careful planning and execution. However, if done correctly, ABM can be an extremely effective way to generate leads and grow your business.

If you're interested in implementing an ABM strategy for your business, there are a few things you need to do to get started. First, you need to identify your ideal customer profile (ICP). Once you know who your ICP is, you can start developing targeted campaigns and content specifically for them.

You should also make sure that you have the right tools and technologies in place to support your ABM efforts. This includes a robust CRM system, as well as marketing automation and data enrichment tools.

Finally, you need to put together a solid team of ABM specialists who can help you execute your strategy and achieve your desired results. If you don't have in-house resources, there are a number of agencies that specialize in ABM that can help you get started.

ABM is a powerful marketing strategy that can help you generate leads, close deals, and grow your business. If you're ready to get started with ABM, follow the steps outlined in this guide and start seeing results.

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