Account Based Marketing
Account Based Marketing
Account Based Marketing Provides Higher ROI With Less Risk
Overview of Account Based Marketing
The Information Technology Services Marketing Association, the organization most commonly known as ITSMA that coined the term “Account Based Marketing,” defines it as “treating individual accounts as markets in their own right.” Although beautiful in its simplification, the definition doesn’t hint at the extremely important purpose of the technique. Account Based Marketing saves time and money through efficiency and synergy of the marketing and sales relationship.
Accounts Over Individuals
Individualization of marketing efforts has been on the rise in recent years, as more marketers are ditching the “one size fits all” approach. However, individualization can be time consuming and quite costly. Spending the time, energy, and resources to create every lead’s perfect approach is not something that many businesses can afford to do.
Segmenting individual sales prospects into “accounts,” or folders of leads, is much more efficient. Targeting to “accounts” as opposed to individuals gives marketers a wider range of prospects, creating a much higher chance of landing a successful conversion. That’s the beauty of account based marketing.
How Account Based Marketing Works
Account based marketing can come to fruition through geographic locations on the map. Target a company’s headquarters to catch the eyes their decision-makers and staff. Get in front of a segment of leads at home, before approaching them with a pitch. Send ads to students on a college campus. Pique interest, and then drive traffic. This much, and more, can be done through geographically targeting key accounts before the approach.
Why Market to Accounts?
Account Based Marketing flips the traditional inbound sales funnel and optimizes the natural synergy between marketing and sales departments. In traditional inbound marketing, marketers cast a wide net to bring in leads to later qualify them—marketing departments are responsible for the top half of the funnel and sales departments are responsible for the bottom half of the sales funnel. If a company uses this technique, they wouldn’t know until halfway through the sales funnel whether they were wasting their time. Account Based Marketing does away with Inbound fundamentals by only centering on accounts that are a fit; your company is only going to spend time and money on qualified targets, because the first step of the process is identifying qualified targets. Targeting the company as an individual creates a one-to-one solution for a conglomerated problem. Account Based Marketing bypasses any personal differences between the buyers and focuses on similarities such as location, IP address, and pain points. The buying group will congregate in the same location, use the same IP addresses, and have some of the same problems that need to be solved.
The sales and marketing team can then focus their efforts on what the future client needs and how to reach them effectively, instead of focusing on separate operational silo goals, which only benefit the separate departments and not the company’s bottom line. Using one message to hit one demographically similar segment creates a much higher chance of conversions, and allows marketers to cover a larger spread of prospects with just one initiative. The benefits of Account Based Marketing are the following:
Generate lift: Increase conversions by delivering more relevant messages to your audience segment.
Cover more ground: Ability to market to more prospects from just one initiative.
Measurable results: Easily measure the impact of marketing campaigns on sales through matchback analysis.
Real, Measureable ROI With Account Based Marketing
Another way Account Based Marketing is more efficient is through the actual creation and delivery of content. In short, Account Based Marketing delivers highly relevant content, to the right people, at the right time. When starting with a company as a market, a 1-to-1 relationship, everything developed afterwards has no choice but to be relevant to the lone target. Your business will know what the company’s pain points are and at what stage of the sales funnel the company is residing.
Do I Really Need Account Based Marketing?
None of this matters if a conversion can’t be 100% attributed to your account based marketing campaign. El Toro IP Targeting is the only marketing organization within digital advertising that does not leverage cookie data. This means we know that every click, form fill, and conversion comes from a real person. El Toro offers tools to more effectively use Account Based Marketing. You company can upload a list of targets to process in the El Toro portal, and El Toro can act as your digital direct mailer, delivering digital ads only to the IP addresses that have been successfully matched at a 95% confidence level or higher to a physical address provided, or a geo-framed location. Your company can now craft specific messages to targets of one and deliver those messages precisely to the company, and only the company, you want to target. After a campaign is over, your company can request our identity resolution tool, MatchBack Analysis. Utilizing the given addresses, El Toro provides measurable results in the form of ROI through matched addresses and sales and lift when comparing to an unmatched control group.
El Toro introduced an account based marketing approach last year, in 2017. Since then, clients come to El Toro with campaign needs and audiences for ABM targeting efforts. With our one to one marketing approach, we are guaranteed at 95% accuracy to serve the desired audience for B2B orderlines.
Because of this, we’ve been described as the “postal-service on the online world.” In 2017, Deloitte named El Toro the thirteenth fastest-growing company in North America, with our Account Based Marketing being one of the main reasons for the substantial growth.
It’s one thing to see clicks and CTR. It’s a whole new world when you can measure the pay off of your digital marketing efforts. Adwords and retargeting pixels can’t beat that when it comes to account based marketing.To learn more about how you can cost effectively target key accounts and a whole lot more, please contact us. We'd love to work with you and build your Account Based Marketing strategy today!