You may have heard someone in marketing talking about (ABM). According to a recent survey from LinkedIn, more than half of B2B marketers use account-based marketing in their business operations to improve efficiency and target customers better.
Account-Based Marketing is also tailor-made for marketing and promoting B2B products, and 96% of B2B marketers claim that ABM is the key to their success.
What is Account-Based Marketing?
ABM is a growth strategy where sales and marketing work together to create personalized buying experiences for a select group of high-value companies. It is also called key account marketing. According to research, ABM has a higher ROI compared to other marketing initiatives.
How Account-Based Marketing helps Manufacturers
Account-based marketing can produce higher revenue per dollar and increase customer satisfaction, offering a tremendous competitive advantage for manufacturers.
If your B2B manufacturing company has a marketing department, you are likely doing some kind of inbound or target marketing. And to accomplish your inbound marketing goals, you create marketing campaigns using messaging that appeals to your target audience.
Your company will likely try to engage and connect with customers in the channels they most prefer in order to move them into your B2B sales funnel.
Rather than targeting industries or specific customer segments, ABM involves targeting individual companies or important decision-makers within these companies. In ABM, B2B companies and manufacturers view highly profitable and key accounts as a whole market, creating marketing campaigns customized to them.
As a B2B manufacturing company, your potential market is usually made up of various industries and company sizes. As a result, it can be challenging to determine the most viable B2B prospects, even with the most effective customer segmentation strategies.
ABM takes away much of this uncertainty as you direct all your marketing efforts to targeted accounts. So, there is no need to invest in other accounts, which significantly reduces costs.
As you are targeting existing B2B customers, who are fully confident in your ability to provide value, you can craft offers that are relevant to them.
Maximizes the Use of Marketing Automation Tools
Did you know that ABM uses marketing automation and data tools to send relevant content to your target audience? Many modern marketing automation tools like Marketo and HubSpot are packed with many efficient features.
These tools are valuable as they enable maximum personalization with minimal effort. And they can also integrate better dynamic and visual functionalities and engaging and attractive CTAs within the content, which leads to relevant messaging.
As you can see, ABM stresses targeted marketing campaigns for your manufacturing company, and this helps you move away from a scattergun approach.
Furthermore, as the focus is now on specific accounts, there’s less wastage of valuable resources. This is how ABM leads to high-value opportunities with low investments and higher returns.
An ABM strategy for your manufacturing company could be a highly impactful way to gain key customer accounts and save money and time in the long run.