The marketing environment has been changing significantly over the past few years. Marketers are using different approaches in order to reach the right target audience. Instead of casting a wide net for more customers, marketers are now targeting a specific group of people for maximum results. They are shifting from the old school method of creating broad messages for anyone to more personalized messages which is proving to be more effective. Account-based advertising does just that. It ensures that you narrow down your focus to your target audience.
But what exactly is Account-based advertising? Let’s find out a little bit more about account-based advertising and how you can use it effectively.
Account-based advertising is a method that uses digital ads to target relevant accounts that have the most potential to generate revenue.
Unlike demand generation, account-based advertising takes a flipped funnel approach. Demand generation begins with creating content, then determining how to promote the content using the right channels and which audience will be a good match. On the other hand, account-based advertising starts by identifying specific audiences at account level, then choosing relevant content for that audience along with the right channels to reach these accounts.
Since account-based advertising focuses on a small group of audience it also presents a risk. Which is why it is imperative that companies have chosen the right target accounts and that the content is relevant to them. It requires a considerable investment of time and resources into this type of technique.
Advantages of account-based advertising
It is more proactive
Account-based advertising is different from typical advertising. Advertising like Google AdWords, retargeting, CRM retargeting, are considered as reactive. Which means that they are only restricted to those people that visit your website or search for your keywords. Although this is valuable, it will only allow you to connect with an audience that engages with your website first. A lot of other potential audiences are still left out.
Account-based advertising uses a proactive approach to targeted display advertising. It starts by determining target accounts and then developing personalized content to reach them. This enables you to target audiences that have not visited your website and do not exist on your CRM.
Reach the key stakeholders
According to Gartner, there are mostly eight to ten stakeholders involved in the decision-making process, which is why it is important to reach the whole decision-making team. Account-based advertising allows you to reach these important stakeholders and other influencers. These influencers will likely not visit your website or download your content like your individual lead will. Proactive account-based advertising enables you to reach them without requiring them to engage with you first.
It complements your email marketing
Consumers receive numerous emails from brands which are mostly unopened and ignored. They do not engage or take the actions intended. Advertising is different from emails; it cannot be opted out of. It is an outbound approach that enables you to reach your buyers online where they already spend time. An advertising tool allows you to place your brand and message right before the audience without them having to open an email.
You are more relevant to your audience
Since you have already determined your target accounts, you can cater to your audience with the content they are looking for. Account-based advertising allows you to create relevant messages for your prospects. You can create various ads targeted to each of your buyer personas. These personalized messages will encourage your audience to take the actions you are expecting them to take.
How to create an effective strategy
Now that you know about account-based advertising, how can you ensure maximum success from it? The answer is localization.
As we have discussed above, account-based advertising works best when you have narrowed down your focus on a specific target market. However, you will need localization in order to ensure that you deliver the right messages in order to achieve your goals.
Following are the necessary steps you can take in order to localize your account-based advertising campaigns:
Determine your target market
First step is to identify your target audience. This involves in-depth research about where your target audience comes from, what is their buying behavior and their demographics. In order for this to work you need to have your sales going on. This strategy ensures your marketing and sales are aligned and narrows your target audience so you can focus on them alone.
Create your buyer persona
Developing your buyer persona will help you assess your target accounts and understand them better. It will get you familiar with what problems or challenges they are facing and how they make decisions to solve them. These challenges can be related to a variety of factors. There might be various internal or external factors, and most of them can be related to culture or local community. Hence, localization can help you better understand your buyers. In addition, understand their buying journey in order to target them at each stage.
Your audience will respond faster when they find content that is personalized from them. It is important that you invest time in creating personalized content for your buyers that responds to their needs.
Measure and Optimize
Marketing campaigns need to be measured and optimized for maximum results. Although, account-based advertising is personalized that does not entail that it will have the same effect frequently. And localization functions in similar fashion. People’s needs changes from time to time. You will need to analyze your localized campaigns and update your ads from time to time in order to stay relevant. Localization will help you cross language or cultural barriers and reach your target accounts with the right messages.
Account-based advertising is the latest way to engage potential customers using the right messages at the right time. It is effective and you do not need to have a big advertising budget to get started. Once you are thorough with each step while developing your strategy you can expect to get positive results in advertising campaigns.
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