Online marketplaces are expected to see increased revenue in 2023. From 2023 through 2027, Amazon anticipates $491 billion in revenue. According to Statista 's findings, this is quite likely to occur. In recent years, internet marketplaces have developed into mature, profitable enterprises. Their population is expanding at a dizzying rate. This trend doesn't look like […]
What is Account-Based Marketing and How Can It Help Your Business Grow
Did you know that account-based marketing is on the rise? A recent study by Forrester predicts that account-based marketing will account for 22% of all digital marketing spending by 2022. What is account-based marketing, and why is it becoming so popular? In this blog post, we will answer these questions and more. We will discuss what account-based marketing is, how it works, and how you can use it to grow your business.
What are account-based marketing and its benefits?
This is a type of marketing that focuses on targeting and engaging with specific accounts rather than general leads. It allows you to tailor your message and offer to each account, resulting in higher conversion rates and shorter sales cycles. In addition, it can help you build relationships with key decision-makers within an account, which can lead to repeat business and referrals.
How does account-based marketing work?
Account-based marketing typically begins with identifying your ideal customer profile (ICP). Once you have identified your ICP, you will need to research and identify the specific accounts that fit these criteria. Once you have a list of target accounts, you will need to create plans for each account. These plans should include strategies for engaging with decision-makers within the account, such as targeted content and personalized offers.
How can account-based marketing help your business grow?
It can definitely help your business grow in several ways. Firstly, this strategy can help you win new business by targeting specific accounts that are a good fit for your products or services. Secondly, it can help you build relationships with key decision-makers within your target accounts. These relationships can lead to repeat business and referrals, which can help your business grow even further.
How to implement an ABM strategy
There are a few key steps you need to take to implement an account-based marketing strategy:
- You must identify your ideal customer profile and research your target accounts.
- You need to create plans for each account.
- You need to implement these plans and track your results so that you can adjust your strategy as needed.
Tips for getting started with ABM
Regarding this technique, it is essential to remember that each business is unique. As such, there is no one-size-fits-all approach to account-based marketing. However, some general tips can help you get started:
- Make sure you have a clear understanding of your ideal customer profile.
- Research your target accounts and create plans for each account.
- Implement these plans and track your results so that you can adjust your strategy as needed.
If you are looking for a way to grow your business, this strategy may be the answer.This strategy can help you win new business and build relationships with key decision-makers. So what are you waiting for? Start planning your account-based marketing strategy today!
To help you more about digital marketing, I need you to check this ebook I’ve created about the 10 things that I’VE WISHED I had known when I started marketing. If you are or are not in the same place, you must read this. Get the ebook here.
If you want more up close and personal marketing strategies, advice, or an overhaul of your marketing structure, email us at firstname.lastname@example.org or schedule a call with Zack now.