I’ve spoken a lot on this blog about the importance of combining the skills and knowledge of sales and marketing departments in order to generate higher quality leads and boost conversion rates. This week’s infographic from Zoominfo talks about account based marketing, which targets specific accounts that are most likely to generate revenue using the combined force of marketing and sales teams. By pairing the feedback provided by sales teams with the resources used by marketing, you’re able to deliver personalized, targeted campaigns to valuable accounts, raising your chances of landing those sales.
Account based marketing is about identifying and acting on new opportunities. When someone fills out a form on your landing page or signs up for a webinar or mailing list, that’s a signal for your sales team to spring into action and target contacts at that company. The account based approach is a great way to boost your bottom line – the efforts of your sales team are focused on the accounts most likely to result in sales, rather than wasting time chasing dead ends. In fact, 60% of companies using account based marketing for a year or more say that their revenues are higher thanks to the new method. Once you’ve figured out which accounts are netting you the most sales, you can start to target similar ones.
Account based marketing is a great investment, especially for companies with smaller marketing budgets.
80% of marketers say that it outperforms other marketing strategies. It makes sense – you could spend thousands of dollars on ad space without getting a single sale. Being selective about your targets saves you money while narrowing your focus to those likely to convert. Since you’re aiming for qualified leads, you’ll wind up shortening your sales cycle, too.
Companies that use account based marketing understand the benefits of aligning their marketing and sales teams – 70% of them are mostly or completely aligned, compared to 51% for companies that don’t used account based marketing. 83% name increased engagement with accounts as the biggest benefit of account based marketing. It’s important to engage with targets through the channels most convenient to them. This could be email, social media, online advertising, or traditional marketing. Since account based marketing campaigns are segmented and targeted, analyzing the data is a breeze, and you can easily shift your messaging on the fly.
96% of surveyed companies called account based marketing a key driver of marketing success. Has your company started using a more targeted approach? Have you seen benefits from aligning your sales and marketing teams? Let me know in the comments.