What exactly is account-based marketing, and can it really turn your business success around? Learn more about ABM benefits here. The more leads you generate, the higher your revenues. Right? According to account-based marketers, this age-old adage is actually completely wrong.
Why? Because account-based marketing (ABM) is showing businesses everywhere that a smaller, more targetted list of prospects converts more sales every time. The ABM strategy switches the focus on lead quantity to lead quality.
And while this tactic may narrow your pool of prospects, it can actually improve your conversion rates among other exciting benefits. Want to know the top 7 ABM benefits you can gain from your next campaign? Then this list is for you.
1. ABM Is Scalable
Account-based marketing is known for its small pond, big fish approach. But just because you’re targetting fewer prospective leads doesn’t mean you’re losing money. In fact, businesses using ABM can see a 171% increase in Annual Contract Value (ACV) as compared to companies that don’t use account-based marketing tactics.
2. ABM Is Tried-And-True
Tired of using the latest trendy marketing tip only to discover it’s no good? Account-based marketing doesn’t have that issue because companies have been using this tactic for years. Previously known as key account marketing, ABM is updated for this new age of marketing.
3. ABM Makes Your Marketing Campaign Personal
Arguably the most important benefit of account-based marketing is that you will curate a highly-targeted list of ideal customers, making it much easier to connect with prospects. The research you put into ABM will be time-consuming. But the in-depth insights you reap from these efforts will show you returns in the form of more leads and higher profits.
4. ABM Provides A Higher ROI
Speaking of profits, the majority of marketers say ABM offers a much higher ROI than other forms of marketing. This is because the ABM strategy helps increase conversion rates while also decreasing the amount of time you spend generating leads.
5. ABM Improves Lead Generation Efforts
Account-based marketing’s hallmark personalized strategies have been proven time and time again to improve the number of leads generated per campaign. But that’s not all. Leads generated through ABM are 40% more likely to make a purchase than leads generated through other marketing tactics.
6. ABM Boosts Your Sales
When your sales and marketing teams are working together, your sales are benefiting. Some suggest that sales can improve by as much as 38%. Meanwhile, ABM tactics also benefit customer retention with MarketingProfs estimating up to 36% increases in CRR.
7. ABM Is More Accessible Than Ever Before
ABM used to be a strategy only for the big-wigs. That’s because account-based marketing was expensive. Yes, we said “was” because new technology and ABM services companies like MRP are making it simpler and cheaper than ever for startups and small businesses to utilize this marketing technique.
More ABM Benefits
While these seven benefits of account-based marketing are impressive, this list certainly isn’t exhaustive. ABM is the marketing strategy of the future. So make sure you’re on board and stay up to date with all the latest tips, tricks, and assistive technology.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.