We are all aware that the right marketing strategy can help you take your business to the next level, and there are so many different types of advertisement that can be either extremely helpful for you or sync your brand to the bottom. Because of that, you need to be aware of the approach you’re taking, and you need to be smart about choosing the next step that will help your business grow. In this article, we are going to talk about the role of B2B performance marketing in account-based marketing strategies. Keep on reading to learn more about these approaches, and how they reflect on generating leads as well as profits.
What is the difference between B2B marketing and ABM?
Source: forbes.com
Before delving into the types of account-based marketing strategies and what they can do for performance let’s see what is the difference between traditional B2B marketing and ABM.
When it comes to the traditional approach of business-to-business marketing we know that the main goal of it is to gain leads and generate them individually. This is usually done by researching the total market debt will be interested in what you are offering and then figuring different ways to generate those leads that will ultimately lead to profits.
When it comes to account-based marketing, the approach is slightly different. With this approach, time and resources are focused on accounts that have a high revenue potential. This is not something that is done quickly, accurately, and without putting too much thought into it. The relationship between the business and the stakeholders is constantly being developed and nurtured so that it can stay like that for a long period of time. With this approach, you are focusing on things that will last long term, and these accounts are carefully selected, and time and money are invested to create and nurture the relationship. Using this approach will result in getting high-value leads, and you can learn more about the process and the benefits by visiting http://adintelligencer.com/.
What are the roles of ABM?
Source: parkyddigital.com
Now let’s see water the main strategies and goals of account the mean strategies and goals of account-based marketing, and how this process is going to benefit your brand. The whole process starts by planning who the targeted accounts and contacts are. As we previously mentioned, this approach focuses on high-value brands that will generate high-stake leads. This is not the type of marketing where you go in blind and hope that your strategy will reach the accounts you are interested in. On the contrary, it is an extremely targeted approach where you select which accounts you want to collaborate with. Once the planning is over, and once the manager has a general idea of who they want to approach, the second part is creating, organizing, and executing plans that will help generate new and existing opportunities. This means that you would need to create and develop approaches that will help you create, nurture, and develop relationships with the accounts and contacts that you want to collaborate with.
This is completely different than the traditional marketing approaches because you, as a manager, will not create a marketing strategy that would be one that would fit almost everyone. You have to be extremely specific about the needs of the potential collaboration partner, and you need to create an opportunity that would be the best fit for them only. The reason why this usually works far better than any other type of traditional marketing is that there is almost no room for mistakes. When all your time, energy, and resources are focused on just a selected few, you are much more likely to make the right plan and create the right opportunity to collaborate.
This usually results in much better bonds and ultimately in a lot bigger profits. When you nurture the relationships that you have created, those relationships will last for a long time and it will not be something that has happened once and never before.
How does B2B performance marketing affect ABM?
Source: techtarget.com
By definition, performance marketing is put in place to help improve the conversion of new buyers at a lower cost, decrease the risk of making a mistake and failing with the strategy, scale and increase engagement, and follow and analyze the things that have been done before. Performance marketing is there mainly to help figure out which is the right strategy and what is the approach that you should continue with, or figure out which paths do not lead to the necessary leads and conversions, and when is the time to try something new that may benefit you and your brand.
This marketing strategy tends to be much more short term and it is extremely targeted, however with performance marketing even though you are thinking on a big scale, ultimately you are acting within a much smaller one.
The reason why performance marketing positively affects account-based marketing strategies is that one thinks on a much short-term scale and results in answers right away, while the other focuses on long-term relationships, when both of these are combined, you can easily track your plans, ideas, and results and you will be able to make changes on the go depending on how your strategy is developing and what types of results you are getting.
Ultimately, B2B performance marketing helps ABM and can help decrease costs or stop wasting valuable time on the wrong approach. With this strategy, you will be able to detect if your approach is one that will generate high-stakes leads, or if there is something that you need to tweak and change in order to get the desired results.
When you are able to explore different and new approaches and when you combine them, chances are you are going to generate much better relationships and ultimately gain much bigger profits. Because of that, you need to learn how to properly implement them with one another, and how to use them to your own advantage. Luckily, there are a lot of services that can help you learn what to do, or they can help you create the strategy that will lead to the realization of your goals.
