Account-based marketing (ABM) is the future of marketing solutions, particularly because it provides both marketing and sales professionals a new and challenging approach. The promise of ABM lies in allowing marketing campaigns to play a higher role in revenue growth, especially as your program is specifically targeted.
This personalization is also a reason why more clients are also looking for ABM solutions. To that end, here are five of the most common ABM mistakes to avoid:
Forgetting to loop in sales
Organizing meetings with team members get staff from sales and marketing acquainted with one another. Inc. underscores the importance of rotating roles; one suggestion would be to rotate team representatives per meeting to get everyone acquainted. Closer coordination between the sales and marketing teams is the most crucial aspect of ABM, but also presents its steepest learning curve. It’s important to hammer home the need for communication between the two teams early on.
Not optimizing each digital platform
ABM was made for the digital world, as marketers are presented with dozens of online channels to use. Maryville University’s overview of modern marketing trends cites the rise of online platforms as the industry’s biggest development. Such methods envelop everything from social media to SEO, so it’s vital to keep in mind that not every platform targets a specific audience. Each platform comes with its own features, which is why your content needs to be tailored both to the client and to the platform.
Recycling strategies too often
In line with the previous tip, you should always remember to craft a specific strategy per client as often as possible. Previous strategies can be a good benchmark, but ABM is built around the idea that you are working closely with the client to come up with a personalized strategy. Just because one particular strategy worked doesn’t mean that it will work for each and every client, so it’s important to refer to previous work as a benchmark and that’s it.
Relying too much on data and not enough on people
Our article on the 5 KPIs to Measure ABM Success lists reach potential, website engagement, and lifetime customer value as data points to keep in mind in order to optimize your team’s effort. Data is an important factor for any ABM solution, but it’s important to remember that gut feeling—the personal touch—is still what drives buyers.
Using outdated technology
Data is crucial to ABM, but data is only useful when it’s used properly. Excel spreadsheets are a great way to organize your data at a glance, but scalability is a big issue especially as ABM requires lots of trend forecasting and data scrubbing. Computer Weekly reports that SMEs are relying on cloud software to recover and store data, which means that such software is also perfect for creating ABM solutions.
ABM has a lot of moving parts and requires significant coordination between teams, which means that one wrong misstep might need a lot of effort to undo. Awareness of these common ABM mistakes allows you to plan better and allocate your resources more effectively.
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