But, more often than not, this advertising is just "white noise." It's full of generic ads with little thought to targetting or to the intended audience. So, what if you asked your sales team if they'd like a dedicated campaign targeted specifically at their top accounts. What if you gave them a way to put the right message in front of the right people at the right time? What do you think they'd say?
This is the power of Account Based Advertising (ABA). With digital advertising one of the top three investment categories for marketers (and continuing to grow according to a report from Gartner), it's in every businesses interest to invest in digital advertising that works smarter, and harder, for them.The idea is to create a strategy built around customers and to reach targeted accounts more efficiently by finding innovative ways to deliver it.
All sales teams, at some point, will question how strong a marketing qualified lead is, what marketing really does to help build the sales pipeline or how they help to close the big deals they've been struggling with. It's here where ABA comes into play and brings both sales and marketing together to deliver powerful results.
Here's three ways it does it, and why it's the secret ingredient your sales team need:
1. It breaks down the silos
With ABA, you focus on your targeted accounts with messages that connect to their challenges and opportunities, irrespective of where they are in their buyer's journey - you just adapt the tactics. This allows sales and marketing to secure a joint effort and collaboration throughout the entire journey.
ABA also allows sales and marketing to speak the same language, combine their focus and measure the same KPIs.
"In our partnership with Vendemore we were able to develop targeted messages that resonated with our clients - and drive results. Out of the 48 companies we targeted, we influenced 28 opportunities within those companies."
- Kelly Hirner - Manager, Industry Marketing Americas Region Hewlett Packard Enterprise
2. It shares insights
Another step to help break down the silos is to communicate more effectively with each other. One way for this to happen is to share information and insights. By implementing ABA, marketing will be able to provide the sales team with actionable sales insights, including information about what a prospect is interested in. These insights do not only relate to prospects, but also clients that you wish to grow. The insights can come from analysis on current advertising as well as website analytics.
The insights each account manager has about their individual accounts are key, and complete the analysis. What are the pain points? Who is responsible for making the deal happen? The list goes on but the important thing to remember is this works best with teamwork. With this in mind and when analysing the account, in addition to the digital data gathered, the chance to pinpoint key information about the account's intent increases drastically.
3. It accelerates deals
As previously mentioned, ABA can accelerate deals since it influences decision makers in the different stages of the buyer's journey. Instead of having to speak in person to all influencers and decision makers, you'll be able to communicate the same message to all stakeholders (which helps encourage a shared consensus) and to bridge the gaps when your sales team cannot reach, or are unaware of, all the important influencers.
"91 percent of respondents stated that ABM improves closed deals. Nearly one in four had better than a 50 percent conversion increase when deploying ABM."
In short, ABA can help you accelerate deals, grow customers and promote events or launches towards your key accounts. This then drives momentum behind your sales activities by putting the right messages in front of the right people.
Key Account Manager, Vendemore
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