7 Examples of Account-Based Marketing Done Right (Tactics and Strategies)
In a recent episode of Demandbase's podcast, the Sunny Side Up, Jon Miller, CMO at Demandbase, Engagio and Marketo co-founder, and his team discussed how B2B companies are adjusting to the impending economic crisis by utilizing account-based marketing (ABM) strategies to generate demand.
They interviewed several B2B leaders to gain insights into their approaches and strategies.
A generic marketing approach will not cut it in today's highly competitive B2B landscape.
To truly stand out and capture the attention of high-value accounts, you need a personalized approach that speaks directly to their unique needs and pain points.
That's where account-based marketing (ABM) comes in. In fact:
- Revenue can rise by 208% when using an ABM strategy.
- The typical annual contract value increase from ABM is 170%.
- Compared to other marketing tactics, ABM, according to 97% of B2B marketers, offers a superior return on investment (ROI).
- 25% of those businesses report an increase of over 50%. 91% of businesses adopting ABM report an increase in average deal size.
- 87% of ABM marketers claim ABM outperforms other marketing activities
Let's dive deep into what ABM is, the key elements of an effective ABM framework, and how to implement a successful ABM strategy.
Shall we get started? :)
What is Account-Based Marketing (ABM)?
Account-based marketing (ABM) is a B2B marketing strategy that identifies and targets high-value accounts rather than attracting as many leads as possible.
Here's a super informative resource that will help you understand account-based marketing better:
With ABM, marketing and sales teams work together to create personalized messages and content for each account, tailoring their approach to each account's specific needs and pain points.
ABM is a strategic approach that requires:
- A deep understanding of your target accounts
- Comprehending their unique challenges and opportunities
This involves identifying each account's key stakeholders, roles and responsibilities, decision-making processes, and pain points.
Once you have identified your target accounts, you can use:
- Targeted account-based advertising
- Email campaigns
- Content marketing
- Personalized outreach
The goal is to engage with your target accounts on a deeper level, building strong relationships and trust that can lead to long-term partnerships and revenue growth.
What Does an ABM Framework Look Like?
Suppose you're looking to take your business to the next level. In that case, you may want to consider implementing an account-based marketing (ABM) framework.
ABM is a strategy that focuses on identifying and targeting high-value accounts to drive revenue growth. However, implementing ABM can be challenging without a clear framework in place.
Here are some key elements of an effective ABM framework:
Marketing and Sales: A Legendary Collab
ABM demands close collaboration between marketing and sales teams. In other words, it's a legendary collaboration that requires a joint strategy and action plan. By working together, they can:
- Identify key accounts
- Develop targeted messaging
- Coordinate their efforts to maximize the impact of their outreach
To ensure success, aligning your marketing and sales goals and metrics is important. For instance, metrics such as:
Factors for Account Qualification
Account qualification is a crucial factor in your ABM framework. You need to identify the accounts most likely to generate revenue for your business and prioritize them accordingly. To identify the right accounts to target, you'll need to develop a set of criteria for account qualification. This may include factors such as:
- Company size
By focusing on the accounts that are most likely to generate revenue, you can maximize the effectiveness of your ABM efforts.
Have a Go-To-Market Plan
You'll need a clear go-to-market plan to execute an ABM strategy effectively. This should include:
- messaging strategy
- outreach channels, such as, email, phone, social media
- measurement plan
- tracking plan
By outlining your plan in advance, you can ensure everyone on your team is aligned and working towards the same goals.
So, an ABM framework requires close collaboration between marketing and sales, clear criteria for account qualification, and a well-defined go-to-market plan. By implementing these elements, you can drive revenue growth and take your business to new heights.
How to Implement an Account-Based Marketing Strategy?
Implementing an account-based marketing (ABM) strategy can help you focus your marketing efforts on high-value accounts and improve your ROI. Here are the steps you can follow to implement an effective ABM strategy:
1. Sync Marketing and Sales
The first step in implementing an ABM strategy is to ensure that your marketing and sales teams are aligned. This requires:
- regular communication
- sharing of data and insights
- joint planning
So, marketing and sales teams must work closely to identify and target high-value accounts.
2. Identify Accounts
Once your marketing and sales teams are aligned, you must identify the accounts you want to target. To start, take the following steps:
- look at your existing customer base
- identify the most profitable accounts
- identify accounts that have the greatest potential for growth
You can also use third-party data to identify accounts that fit your ideal customer profile.
3. Tailor Accounts
After identifying your target accounts, you must tailor your marketing and sales messages to each account. So, you must:
- create personalized content and messaging
- make sure that it speaks to the specific needs
- check that it considers the pain points of each account
Use account-specific data to customize your messages and ensure they are relevant and valuable.
4. Fulfill Target Accounts
Once you have tailored your messaging, you must deliver it to your target accounts through various channels. This can include:
- social media
- direct mail
- targeted advertising
Use various channels to reach your target accounts and track their engagement with your content.
5. Measure the ABM Strategy
Finally, you need to measure the effectiveness of your ABM strategy. Track key metrics such as:
- engagement rates
- conversion rates
- revenue generated from target accounts
Use this data to refine your strategy and optimize your messaging and targeting.
Let’s take a look at a few examples now. Are you in? :)
Top 7 Account-Based Marketing Examples in 2023
Here are some of the best account-based marketing examples.
Numerous generic ads out there feel like they're speaking to no one in particular. But Personify's targeted ad campaigns feel like they're speaking directly to the user.
How do they do it? Personify's Constituent Management & Engagement platform allows them to create a list of their top accounts and segment their target markets and personas within them. They can personalize their ad campaigns based on the buyer stage, company, and persona.
And the results speak for themselves. Using targeted ads, Personify saw a whopping 39 times increase in engaged website visitors. 39 times! So, if you're looking to level up your advertising game with targeted ad campaigns, you won't be disappointed.
As a scheduling software company, Calendly understands the importance of efficient appointment scheduling. That's why they go the extra mile to educate potential accounts on the benefits of using their software.
Calendly hosts virtual events where you can learn more about their scheduling features and how they can simplify your life. And the best part? These events are completely free!
But that's not all. Calendly also sends email invites to interested individuals with free access to their software. And they don't stop there. During these virtual events, Calendly offers one-on-one interactions to help convert free accounts into paid ones. So not only do its users get to learn more about their software, but they also get personalized assistance in setting it up for their needs.
Intridea, an innovative web product and services company, knows how to stand out from the crowd. They did just that with a billboard that caught the attention of the famous ad agency Ogilvy and Mather.
Intridea knew how to make an impact, and they were not afraid to be bold and creative to get their message across.
So what was on the billboard?
A bold message that spoke directly to Ogilvy and Mather, challenging them to step up their game and hire Intridea.
But that's not all - the message was accompanied by a personalized URL that led to a hilarious collection of GIFs, guaranteed to make even the most serious business person crack a smile.
Salesforce is a customer relationship management (CRM) software company that has taken interactivity to the next level with its groundbreaking "Connected Tower" experience.
It creates a virtual world where the user is given a tour of a smart building. They get to see first-hand how Salesforce's CRM software can transform their customer experience. This interactive experience is more than just a sales pitch - it's an immersive journey that shows the user exactly how Salesforce can help them achieve their goals.
And the best part? It works! The Connected Tower experience helped Salesforce close a major deal and win a high-value account. You can follow in their footsteps and create an interactive experience that takes your business to the next level?
Microsoft partnered with NBA star Donovan Mitchell to educate young people about technology. By leveraging social media platforms like Instagram and Twitter, Microsoft emotionally connected with its target audience in a way that felt authentic and approachable.
Through engaging content and interactive experiences, Mitchell and Microsoft were able to spark a genuine interest in technology among teenagers, inspiring them to explore the world of innovative gadgets and devices.
By collaborating with a well-known athlete who resonated with their audience, Microsoft established an emotional connection beyond just selling products - they became a part of their audience's lifestyle and interests.
Such emotional connection sets companies like Microsoft apart in today's social media-driven world. By leveraging the power of social media to connect with their audience on a personal level, companies can build lasting relationships with their customers and inspire them to become loyal advocates for their brands.
T-Mobile's CEO, John Legere, got to experience being a superhero with a sidekick, thanks to GumGum!
GumGum specializes in AI-based computer vision technology. They took personalization to the next level by creating a custom comic book just for Legere. But it wasn't just any comic book - it depicted Legere as a superhero, complete with his very own sidekick named Gums!
The coolest part? The content was tailored specifically to Legere's interests. That's right, GumGum did its research and included elements that would resonate with Legere on a personal level. And the result was nothing short of amazing!
This personalized content was a game-changer for GumGum. It helped them acquire the T-Mobile account and boost revenue.
The 2015 Dreamforce conference was a game-changer for Invoca, a tracking and analytics company. Invoca went all out by offering free Apple Watches to everyone who booked a meeting with them at the conference. Yes, a free Apple Watch!
Well, the Apple Watch was not just a fancy gadget but also a strategic move to increase lead generation and pipeline targets. The Apple Watch served as a tactile reminder for the meeting appointment and follow-up.
This made the whole process more streamlined, efficient, and engaging for the customers.
And the results were outstanding! Invoca's smart move paid off big time as it significantly outperformed its lead generation and pipeline targets. The free Apple Watch offer generated buzz around the conference and helped Invoca stand out among the crowd.
Why Should You Implement Account-Based Marketing?
Implementing an account-based marketing (ABM) strategy can offer several benefits to B2B companies, including:
Focus on High-Value Accounts
ABM allows you to identify and prioritize high-value accounts more likely to drive significant revenue for your business. By focusing your resources on these accounts, you can improve your ROI and maximize your marketing and sales efforts.
ABM allows you to create personalized marketing and sales messages that speak directly to individual accounts' needs and pain points. This can help you build stronger relationships with your target accounts and increase their engagement with your brand.
Alignment of Sales and Marketing
ABM requires collaboration between sales and marketing teams, which can improve overall communication and alignment between the two departments. This can lead to better lead management, more efficient sales processes, and higher revenue growth.
Better Customer Experience
ABM helps you create a tailored customer experience personalized to each account. This can improve customer satisfaction and loyalty and increase the likelihood of repeat business and referrals.
ABM allows you to track and measure the effectiveness of your marketing and sales efforts on a per-account basis, providing you with actionable insights that can help you optimize your strategy and improve your ROI.
Implementing an account-based marketing strategy can help you focus on high-value accounts, create personalized messaging, align your sales and marketing teams, improve the customer experience, and measure the results of your efforts.
Doing so can improve revenue growth and build stronger relationships with your most valuable customers.
Are you looking for a marketing strategy that can help you connect with your most valuable customers and boost your ROI?
Account-Based Marketing (ABM) is here for you :)
An account-based marketing approach to B2B marketing requires a deep understanding of your target accounts and a collaborative effort between marketing and sales teams.
By identifying high-value accounts and tailoring messages and content to meet their specific needs and pain points, ABM can help you build stronger relationships with your most valuable customers.
To implement an effective ABM strategy, it's crucial to have a clear framework involving:
- Close collaboration between marketing and sales
- Clear criteria for account qualification
- A well-defined go-to-market plan.
Tracking key metrics such as engagement rates, conversion rates, and revenue generated from target accounts can let you measure the effectiveness of your ABM strategy and optimize it for even better results.
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