Blog & Resources

How To Assess Your ABM Readiness

Written by Harry Longmuir | May 17, 2024

ABM: Not Just Another Strategy

Account-Based Marketing (ABM) is not your average marketing strategy.
ABM is akin to shining a focused laser beam on certain accounts that you see as high value, as opposed to shotgun marketing to a broad audience. When marketing can be scaled to meet each account's unique needs and problems, a deeper and more meaningful relationship is built. Ultimately, this leads to better ROI.

 

 

Ready or Not?

The Must-Haves:

 

Sync Between
Marketing & Sales

ABM thrives on the principle of marketing and sales acting as one. Is your marketing team in sync with your sales team? Are they aligned toward the same goals? If not, bridge the gap.

Data: The Lifeblood of Personalization

The right quality/quantity of data is key.
Do you have a clear picture of your target accounts? Is your CRM powerful and up-to-date? If not, upgrade your data.

Selecting
Target Accounts

Do you have clear criteria for selecting the accounts that you will market to? Focus only on those with the highest potential value. Lacking? Rethink your strategy.

Personalization of Content

After all, ABM is about targeted content. Can you customize content to literally address the needs of each account? If not, it's time to work on your storytelling.

Tech Stack: It's All About the Right Tools

Do you have platforms that help you target accounts, run campaigns, and provide analytics? If not, it's time to upgrade your tech stack.

 

 

7 Steps to Assess Your ABM Readiness

 

1     -

Internal Audit

Audit your existing marketing and sales processes ruthlessly. This will help to uncover some gaps and overlaps.
2     -

Define Your Ideal Customer Profile (ICP)

Describe your best-fit accounts based on the industry, firmographics, and key decision-makers at the account level.
3     -

Data Check-up

Understand the state of your data infrastructure.
4     -

Content Audit

Understand the state of your data infrastructure.
5     -

Team Alignment

Get the marketing and sales team on the same page, working toward shared goals.
6     -

Technology Investment

Make the right investments in the tools and technology to facilitate your ABM strategy.
7     -

Pilot Program

Begin small and test your strategy; then get feedback from it and iterate.

 

 

How to Succeed with ABM

 

Start Small

Use Data

Measure & Optimize

Build Collaboration

Be Agile
Begin with a few high-value accounts and scale gradually. Use these insights to formulate your strategy and personalize your messaging. Continuously track performance and refine campaigns. Ensure marketing and sales are working in a highly coordinated manner. Be prepared to adapt based on feedback and results.

 

ABM:
A Journey, Not a Project 

Being ready for ABM is not a moment-in-time event.

Keep monitoring and changing your strategy. These steps will lead you to prepare your business so that it can take advantage of the full power of ABM. ABM is a journey. Buckle up and enjoy the ride!

via GIPHY

 

 

FAQs

 

What is Account-Based Marketing (ABM)?
Account-Based Marketing (ABM) is a strategic approach that focuses on targeting specific high-value accounts rather than a broad audience. It involves personalized marketing efforts tailored to each account's needs.

Why is alignment between marketing and sales important in ABM?
Alignment ensures that both teams work towards common goals, share insights, and collaborate effectively, leading to more cohesive and successful ABM strategies.

How do I select the right target accounts for ABM?
Choose accounts based on criteria such as industry, revenue potential, and alignment with your ideal customer profile (ICP). Focus on those with the highest potential value.

What role does data play in ABM?
Data is crucial for personalizing marketing efforts. High-quality data helps in understanding target accounts, crafting relevant content, and making informed decisions.

Why is a tech stack important for ABM?
A robust tech stack supports targeting, campaign execution, and analytics. It streamlines processes and provides the necessary tools to implement and track ABM strategies effectively.

How can I measure the success of my ABM efforts?
Success can be measured through metrics such as engagement levels, conversion rates, and ROI. Continuous tracking and optimization are key to improving ABM outcomes.

 

Conclusion

Preparing for ABM involves thorough evaluation and strategic alignment. By following these steps, you can ensure your company is ready to implement a successful ABM strategy. Remember, ABM is a journey that requires continuous monitoring and adaptation. Embrace the process and enjoy the benefits it brings.

 

 
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