Account-based marketing (ABM) is an effective tactic used by marketers today. ABM enables businesses to work and engage with high-value accounts as if they are individual markets. They personalize content, campaigns and messages to resonate with their audience. ABM offers a more successful ROI compared to other marketing tactics in B2B scenarios. Just like any other technique you are bound to make some common mistakes in the process. Sometimes these mistakes can go unnoticed, which could impact your campaign in a negative form.
So, let’s take a look at some common mistakes which marketers make in their ABM strategy. This can help you implement your strategy in a seamless way without any hurdles.
Not doing a comprehensive research
ABM marketers generally rely on their sales teams to give them the list of target accounts. This can be a mistake as sales teams have an ambiguous selection process or none at all. The correct way to do this would be to first develop an ideal customer profile (ICP). ICP defines the perfect customer for your organization allowing you to focus only on selling to target accounts. ICP can also help identify problems your customers face so that you can respond to their needs.
You can then research accounts that fit your ideal customer profile and eliminate the ones that don’t. It is also important to research potential leads outside of the sales account list because sometimes sales teams can miss out on identifying ideal customers.
Not aligning with sales team
As discussed above you might go outside the sales list to research potential leads or modify it. In any case you might want to refrain from pushing marketing lists on the sales teams. When you are developing your ICP and account list, you should frequently work with sales teams to get their insights on your customers. This can help maintain a healthy relationship between two teams and build trust.
Not updating lists
Another mistake marketers make is failure to update their ABM strategy. The accounts are added to a list and then for a long time the list remains untouched. They do not prioritize or eliminate or add names. Hence, they spend a lot of time on the wrong accounts. Account list should be reviewed and updated frequently so that you can reach the right target accounts.
Focusing on all accounts
ABM strategy caters to different target accounts at different levels. You should spend more time and attention on accounts that are engaging with your content and are beneficial to your business. If you focus the same amount of attention on all accounts, you might end up spending more and also wasting your time. Hence, it is beneficial and time saving to invest in high-value accounts.
Lack of testing
It is important to perform regular testing and optimize your ABM strategy. You need to take a look at important metrics or KPIs. It is also important to keep a check of other areas such as how often your team engages with your customers, how many accounts you have closed or how your ABM strategy is doing compared to your other strategies.
Also, it is important to make sure that all the data across various departments is synced together for optimization and analysis.
Now that you know which mistakes you are likely to make; you can be proactive and avoid making these mistakes altogether. When it comes to ABM it is important to reach the right audience at the right time with the right content. Taking these extra steps can allow you to get successful results from your ABM strategy and maintain good relationships with your customers.
Found this helpful? Check out more interesting articles from our blog.