Think account-based marketing is only for big companies?
ABM is an incredibly effective sales and marketing strategy for SMB companies looking to make the most out of their budget.
Let's talk about what account-based marketing is and how it can help drive revenue for your business.
If you're already familiar with account-based marketing, feel free to skip ahead to the strategies in the next section. However, there are plenty of benefits specific to SMB you should know.
Account-based marketing is a strategy where businesses target specific target accounts for conversion, rather than targeting a large group and moving them through the sales or marketing funnel. It is most often used by B2B organizations.
For example, if you offer a social media tool for software companies, rather than using targeting ads on Facebook or LinkedIn, you might make a list of software companies that could use your tool and reach out to them directly.
Benefits of account-based marketing for SMB
Account-based marketing is ideal for SMB because it can limit wasted advertising and marketing spend. Rather than targeting 100 companies that *might* be interested in your offering, you can focus on specific companies that are more likely to convert.
For example, you could use Leadfeeder to see which companies visit your site, sort them by relevance, then track user behavior to see which companies have visited multiple times. Then, you can reach out directly on LinkedIn or create a customized ABM campaign.
Here are a few more reasons account-based marketing is ideal for SMB in B2B:
Fewer metrics to track, so you spend less time on data analytics.
ABM tactics are goal-oriented, so you can easily see if your efforts are paying off.
Shortens the sales cycle, because you can weed out low-value prospects quicker.
Helps you stand out by creating a personalized connection.
Can reduce churn, because you get to know customers personally, making them more likely to reach out when they have an issue rather than canceling.
One of the greatest benefits of ABM is that it's more cost-effective because you only target accounts that have already expressed interest in your company.
A quick internet search will show you there are hundreds of different ABM tactics. The issue? Most of those strategies target large companies with even larger budgets.
The good news is, you don't have to have a massive budget to leverage ABM. In fact, ABM doesn't have to cost you much at all — that is one of the reasons it's such an ideal strategy for SMB.
Let's look at a few low-cost ABM tactics you can use to drive your business forward.
Find the right accounts to target
A great ABM campaign starts with finding the right accounts to target. Rather than targeting random accounts, use Leadfeeder to see which companies have visited your website and add them to your ABM target list.
For example, you might see that a specific company has visited your site several times over the last week and spent a long time on your site, like in this example:
This account is likely a good fit for an ABM campaign because you can tell they are very engaged with your site. They already know who you are, so personalized outreach is likely to be more effective.
Even better, Leadfeeder offers a free version and a free 14-day trial so you can try it first, making it a cost-effective ABM tool.
Create custom videos
Video creation used to require hundreds of dollars in high-end equipment. These days, you don't need much more than a smartphone to make high-quality videos that help your business stand apart.
After using Leadfeeder to determine which accounts to target, you can create a custom video, like this one that Vidyard did:
1Huddle is a platform that helps companies engage their employees and provide more effective training. Using Vidyard to create and send personalized videos, they increased their open rate to 68% and their reply rate to 12% — much higher than most sales teams earn with cold emailing. Because their videos are short and punchy, creating each one only takes a few minutes.
Even better, their clients enjoy the creative, personalized feel.
Using videos allows you to share information, such as how your offering can solve a specific problem, in less time and creates a more personal connection than a cold email.
Note, you can track video views and see if companies come to your site after watching a video in Leadfeeder through the "video play" filter.
Send IRL packages and gifts
The online world is insanely competitive. Companies might get dozens of cold emails a day and see thousands of ads, making them numb to your efforts. Plus, ad blockers and email filters are getting smarter, making it harder than ever to reach users through digital marketing.
Do you know where most companies don't get overwhelmed? Their physical mailbox. Physical mail is far more likely to be opened and read.
In fact, the average open rate for direct mail is as high as 90% — have you ever seen email open rates that high? I know we haven't.
Even better, direct mail gifts or packages don't have to be expensive — after all, you'll only send them to a few accounts.
Tipalti, an accounts payable software tool, generated nearly $3 million in revenue through an ABM campaign that included sending a box of branded donuts.
Create a dynamic home page
Wouldn't it be great if your home page welcomed prospects by name? It's not science fiction, it's actually possible to personalize your website using dynamic content.
For example, you can use first-party data to segment audiences and then identify them so you can deliver custom greetings, dynamic CTAs that match their industry or user intent and recommend personalized content.
While there are paid tools that do this, like Personyze, you can also use Google Tag Manager to add dynamic content to your website.
While dynamic content alone likely won't drive huge returns, it can support your ABM efforts by showing leads you're paying attention to what they need.
When it comes to ABM, the key is to test different strategies until you find one that fits your business — and drives the results you want. Remember, you don't have to invest in fancy tools or spend thousands of dollars of swag to attract clients to your business.
Instead, be intentional about what companies you target and pay attention to the data. When it comes to ABM effectiveness, the numbers don't lie.
Want to see if your ABM efforts are paying off? Leadfeeder identifies what companies visit your website by tracking the IP address and domain data. Try us free for 14 days.
Account-Based Marketing. Simplified.
Struggling to connect the dots between your ABM campaigns and revenue? Or maybe just trying to launch your first ABM program? It doesn’t have to be that difficult.
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