The traditional sales funnel is familiar to marketers and salespeople: the marketing team creates content, attracts leads with that content, nurtures those leads and then hands qualified leads off to sales. Some companies find success with this approach, but it is labor intensive at the front end and hard to measure a return on that investment.
For that reason, many B2B companies are integrating account-based marketing (ABM) into their sales and marketing strategy. This blog will overview what ABM is, and the benefits for sales and marketing teams.
What is ABM?
Account-based marketing is a data-driven approach to marketing. Content is still integral to the process, but the sales funnel is essentially flipped upside down, and marketers start with the end in mind. Here’s the general process:
- The marketing team uses data intelligence to identify attractive prospects with a high likelihood of purchase.
- Once prospect companies are identified, additional data mining reveals key decision makers and purchasing behaviors.
- From there, marketing and sales can target those prospects with tailored content and messaging.
- Because better qualified prospects are targeted from the start, they are more engaged in the sales process and have a higher conversion rate.
Again, ABM is not meant to replace existing content and digital marketing initiatives. Instead, the goal is to make those efforts more targeted based on advanced data intelligence.
Benefits of ABM
There are many benefits to the ABM approach to sales and marketing, as compared to relying on a traditional sales funnel. Here are some of the advantages companies have seen from adopting ABM:
- More targeted prospects in the sales funnel, who are more likely to engage with the salesperson
- Sales wastes less time on cold leads or people who will never purchase
- Higher close ratio because sales is starting with more qualified prospects
- Better cooperation and effectiveness between sales and marketing teams
- Easier to measure ROI than traditional content marketing efforts
- Company can introduce predictive analysis to sales funnel for better revenue forecasting
Want to learn more?
If you’re interested in learning more about ABM and how it might benefit your marketing and sales teams, take a look at this guide on the topic. It covers the topics from this blog, as well as whether ABM is right for you, what industry thought leaders are saying about ABM, and how to implement ABM at your company.
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