7 Advanced Account Based Marketing Strategies to Grow your business in 2023

87% of companies using B2B account-based marketing claim that it has a higher ROI than other marketing initiatives, according to research. There are many marketing options available today when you want to market and sell your goods or services. You can choose to target a variety of clients, but there will always be some leads that are not qualified. Imagine if you could only market and sell to highly valuable clients. Isn't that fantastic?

That's exactly what account-based marketing enables you to accomplish. The fundamental concept is to coordinate marketing and sales efforts from the outset to target particular accounts that are most likely to convert and become steadfast clients. This means there won't be any time or money lost on attempting to close leads that aren't a good fit.

In this article, you'll learn what ABM is and how to incorporate it into your B2B strategy to increase sales. You will be able to see how ABM can benefit you and how to use it right away.

What is account based marketing?

Advanced Account Based Marketing (ABM) is a marketing strategy that focuses on a specific group of accounts and prospects. It is a very personalized approach that involves making custom content and campaigns to get the attention of the key decision-makers and stakeholders in an account.

Advanced ABM goes further than traditional ABM because it uses data and insights to get a fuller picture of the target account. This means knowing who the important decision-makers are, what their roles and responsibilities are, and what problems they face. Using predictive analytics is also part of advanced ABM.

Types of account based marketing

Choosing the appropriate account-based marketing strategy for your company must come first. The type is typically chosen by marketers based on account tiering, strategic initiatives, marketing resources, and experience.

There are three different categories of ABM, as first described by ITSMA:

1:1 ABM: Marketing is coordinated with a single, valuable account.

ABM Lite: Marketing is heavily focused on a curated list of businesses (typically between ten and 100) that share notable firmographics, pain points, use cases, or other characteristics.

Programmatic ABM: Marketing that is directed at a larger group of accounts, such as specific personas in a particular industry.

7 strategies to increase your sales in 2023 using account based marketing

It requires effort to implement an account-based marketing strategy. When done properly, though, it can provide you with a great deal of value.

Demand generation, sales pipeline, and customer marketing are the three main use cases of account-based marketing. We will walk you through a few crucial strategies you must take in order for your account-based marketing plan to succeed. Marketers can use seven key ABM strategies within these categories like how we have done.

Demand generation - more qualified sales pipeline

1. Identify your ideal customer profile and pre-target:

Identifying your ideal customer profile is the first step of any effective ABM approach. This includes understanding the industry, size, geography, and other key aspects of your potential customer. This will assist you in compiling a targeted list of possibilities to pursue. Followed by that, plan the first communication with net-new accounts.

2. Utilize personalization with account nurturing:

Personalization is critical to any successful ABM strategy. Individualize your messages and content for each of your target accounts. This may be personal emails, internet content, or direct mail. Inform and pique the interest of the target accounts' entire buying committee.

3. Lead-to-Account nurture:

Extend your reach to all members of the buying committee instead of just one particular lead. Use targeted advertising to reach your best customers. You can target specific accounts using platforms such as Google Ads, LinkedIn Ads, and Facebook Ads.

Sales pipeline: Quickly close more deals

4. Pipeline acceleration:

Assist sales initiatives to involve more influencers and decision-makers in target accounts with knowledge, experiences, and data that are in line with each stage of the purchasing process. Create material like whitepapers, case studies, and webinars.

5. Never ignore the “Dead” opportunities:

Reactivate "dead" opportunities to fill your sales pipeline with accounts that are most likely to close.

Customer marketing: Increase sales and reduce customer churn

6. Land and expand:

Increase revenue from current accounts, particularly those from big, complex businesses. Hosting events exclusively for your target accounts is an excellent method to create leads and build relationships. You can invite key account decision-makers and provide them with useful information and experiences.

7. Renewal and Upsell:

Involve influencers and decision-makers at customer accounts to boost renewal rates and produce additional revenue. Track and measure outcomes to determine what is working and what is not, and plan appropriately. Last but not the least, use technology. Marketing automation software and other technologies can help you target and customize ABM Marketing.

Advantages of account based marketing

Simplified Account Based Marketing

Are you finding it difficult to link your ABM campaigns to revenue? Or perhaps you're just attempting to start your first ABM program? It needn't be that challenging. Determine when target accounts are visiting your website, find new accounts, and use website visitor information to enhance your advertising campaigns.

Remember that people, not companies or metrics, are your main targets as you continue with your ABM program. Concentrate on the people who are actively influencing decisions about whether to buy your good or service. Your relationship-building efforts will be more genuine and successful if you connect the dots and develop a comprehensive understanding of each person on your target accounts list. Contact our team for more details.