Thinking of Switching to ABM? Key Factors to Assess Before Making the Move

Diving into Account-Based Marketing (ABM) is a significant strategic decision for any business. As we navigate the complexities of modern marketing, understanding whether ABM fits into your go-to-market (GTM) strategy is crucial. This post will guide you through assessing your business’s compatibility with ABM, evaluating organizational readiness, and taking the initial steps to implement this targeted approach. 

Is Your Business ABM Compatible?

One could say that you don’t choose ABM, ABM chooses you. In other words, ABM should be the main choice for qualifying companies. In this post, we’ll explore some of those considerations and how to assess your organization’s readiness.

ABM is not just a marketing tactic; it’s a comprehensive B2B strategy for businesses that aligns marketing and sales efforts to engage high-value accounts effectively. It thrives in environments where the buyer’s journey is complex and anonymous, and multiple stakeholders influence the purchasing decisions.

ABM Is the Right Choice for Your Company When:

Customer Profile is Defined: Ideal if you have a specific, manageable list of target accounts rather than a vast market.
Targeting Medium to Large Companies: ABM is best suited for companies with over 100 employees. Targeting smaller companies might result in a too large or difficult-to-identify market.
Minimum Deal Size of $20K: ABM tends to be more effective for larger deal sizes, as smaller average contract values (ACV) might not justify the ABM overhead.
Diverse Offerings and Markets: If your products cater to different industries or require personalized marketing approaches, ABM’s targeted and customizable nature can be beneficial.

Embracing a New Approach:

Shifting from a traditional lead-centric methodology to an account-centric one is at the heart of ABM. This transition involves rethinking metrics beyond just website traffic and conversion funnels to include a more comprehensive view. At Trendemon, our analysis of over 3.4 million buying journeys indicated the need for a holistic approach, accommodating various personas within the buying group and emphasizing the conversion of entire accounts, rather than individual leads.

Evaluating Your Organizational Readiness:

To determine if your company is ready to embrace ABM, consider these key factors:

• The Right Team: Ensure your company has enough manpower when onboarding ABM, you should have a team that dedicates their time to looking out for intent signals and contacting the associated high-interest accounts.
• Content Readiness: ABM relies heavily on high-quality, targeted content. If you don’t possess that it’s too early to start ABM. Also, assess if you have the resources and capabilities to create content that resonates with specific accounts and personas.
• Tech Stack: Invest in CRM and marketing automation platforms that support ABM activities, such as segmenting accounts, tracking interactions, and automating personalized communications. When the time is right introduce ABM Software to help with identification and personalization.
• Data-Driven Mindset: A successful ABM strategy is rooted in data and insights. Make sure your organization is equipped to gather, analyze, and act upon customer data to inform your ABM initiatives.

Getting Started – Testing the Waters

Begin your ABM journey by reviewing your website – are enough people checking it out? Check the data to identify the level of interest from high-potential accounts (Get a free audit with Trendemon). Just like with fishing, once you have determined there is enough fish in the pond, you must ensure you have some good bait; this can be in the form of content, promotions, CTAs, and more. Intent signals and account scoring can also help pinpoint which accounts are most likely to convert, allowing you to allocate resources effectively. Start small by selecting a few accounts to target, and use personalized touchpoints to engage different stakeholders. This pilot phase will help you understand the nuances of ABM and refine your approach before rolling it out on a larger scale.

Considering the Long-Term Perspective:

ABM is not a quick fix; it’s a long-term strategy. If your business model aligns with nurturing long-term customer relationships, ABM can be a game-changer. Don’t forget to celebrate small successes, however, remain patient when it comes to the bigger victories.

Key Takeaways:

• ABM requires a shift from traditional lead-centric strategies to a more comprehensive, account-centric approach.
• There is no one-size-fits-all with ABM.
• To start you need to have the right team and high-quality content.
• Account scoring and intent signals are pivotal in identifying and prioritizing high-value accounts for targeted marketing efforts.
• ABM should be embraced as a long-term solution, not a quick fix.

In summary, onboarding ABM can significantly elevate your marketing strategy if your business is aligned with its core principles and ready to commit to its long-term process. By understanding and preparing for the depth and scope of ABM, your company can harness its full potential for substantial growth and customer engagement. So there’s only one question left to ask – should you onboard ABM?

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