One of the best ways for many business-to-business organisations to get high-quality leads is through account-based marketing. The benefits of your marketing system may be lost if the sales staff has yet to embrace an account-based strategy completely and you pass these leads on to them. Ensuring they employ account-based sales, a complimentary strategy, is the solution.

Although account-based marketing (ABM) has been around for quite some time, the advent of big data has effectively revived this marketing strategy. An ABM strategy was used by 70% of marketers in 2021, a 15% rise from the previous year. In most cases, using ABM yields excellent outcomes. 62% of marketers say ABM has helped their campaigns. However, a lack of strong alignment between sales and marketing is typically to blame when ABM fails.

ABM has many offshoots, including account-based sales (ABS). ABS uses a separate set of criteria and approaches target selection differently. If you want your teams to operate in tandem to bring in new business and keep existing customers loyal, you need to understand how the account-based mindset applies to sales. You can take help from LinkedIn Ads Agency to assist you.

This post will explain ABM and ABS, how they work, and how to combine the two for the best results. It will also go into the specifics of each method.

What is Account-Based Marketing (ABM)?

The quantity of leads produced is the standard metric for a marketing campaign’s success in conventional wisdom. But a big drawback of this strategy is that most of these leads don’t turn into lucrative partnerships. Account-Based Marketing (ABM) changes the focus to following target accounts as they go through the sales process. To rephrase, ABM prioritises quality above quantity. Listed below are the three cornerstones of an effective ABM plan.

What is Account-Based Selling (ABS)?

Following identifying target accounts through account-based marketing (ABM) activities, account-based selling (ABS) assumes responsibility for these accounts. It initiates the process of turning them into revenue-generating prospects. In contrast to ABM, which is mainly the purview of the marketing department, ABS requires input from both the sales and marketing departments. Consider these four things if you want your ABS efforts to be effective.

Account-based Sales vs. Account-based Marketing

Viewing ABM and ABS as complementary rather than competing procedures could be more helpful. Ideal account-based marketing (ABM) would involve reaching out to the target account first and then using targeted, personalised messaging to turn them into leads. When the time is right, the sales team should take over interacting with the lead organisation’s executives, managers, and other decision-makers.

“Mission accomplished” will be proclaimed by ABM once the deal closes, but ABS has a long way to go. In the long run, it hopes to boost consumer loyalty and repeat business by maintaining positive relationships with existing customers. An effective sales funnel is the result of ABM and ABS’s collaboration.

How to Get Started with Account-Based Marketing and Account-Based Selling

The best course for your company would be implementing account-based marketing and sales since it can lead to success and encourage growth. Though it may seem overwhelming at first, you can do a few things right now to begin using ABM and ABS.

Step 1: Define Target Accounts

Determine which of your target accounts are most important since they fit your company’s goals and could lead to lucrative collaborations or sales.

Step 2: Align Sales and Marketing Teams

For a cohesive strategy, ensure the marketing and sales teams work closely together. Establish agreed goals, tactics, and measurements to drive effective ABS and ABM efforts.

Step 3: Account Research and Segmentation

Investigate the selected target accounts extensively to learn about their problems, requirements, and preferences. Divide these accounts into subsets according to important factors, including industry, size, revenue potential, and unique difficulties.

Step 4: Personalised Messaging and Content

Create unique marketing materials and messages for each target account. Make an enticing case for your company’s value by highlighting how you can alleviate their unique problems.

Step 5: Multi-channel Engagement

Engage target accounts via a multi-channel strategy. Reach out to important decision-makers in the accounts using a mix of direct outreach, social media interaction, personalised content, targeted advertising, and email outreach.

Step 6: Account-Based Advertising and Retargeting

Take advantage of account-based advertising tactics to target ads to the accounts that have been identified. Use account-based retargeting to keep your brand in front of those interested in your products and services.

Step 7: Personalised Sales Outreach

Provide your sales staff with information on the target accounts and the ability to send personalised messages. Motivate people to contact decision-makers using personalised messaging that emphasises your business’s value while addressing their unique challenges.

Step 8: Measure and Iterate

Maintain a system to track and assess how well your ABS and ABM initiatives are doing. Keep tabs on important data like the percentage of interaction, the percentage of conversions, and the revenue that comes from target accounts. Moreover Over time, you can use these insights to improve and enhance your plans.

Conclusion

You must always put up consistent effort, collaborate with others, and adapt while dealing with ABS and ABM; these processes do not end. If you want your account-based initiatives to have the most possible impact, you must constantly adjust your strategy in light of comments and outcomes. You can make the most of this powerful strategy to advance your business by learning all you can about the ideas of Account-Based Marketing and Account-Based Selling and then putting those principles into practice with the right tools for your needs. LinkedIn Marketing Agency can help you to find balance between Account-Based Marketing and Account-Based Selling.