Even as Account Based Marketing (ABM) has reached full maturity in recent years, the context in which marketers are using it to target accounts has shifted.
In a landscape of proliferating challenges and market diversification and fragmentation, it is crucial for marketers not just to target specific accounts, but to filter our ABM messaging to those accounts through an industry-specific lens.
Why is it important? Because to make a powerful connection with your target audience, you need to communicate an understanding of the challenges they face and how you (or your client) can solve those challenges.
And challenge is the key word. These are difficult times for many businesses, and even those who are flying right now – essential retailers, for example – have to deal with increasing supply chain complexities and scalability issues. Brexit has changed the game for businesses in the UK and EU, introducing an imperative to better manage data sovereignty and supply chain ownership. Meanwhile, the effects of the Covid-19 pandemic will continue to be felt for a long time to come.
Against this backdrop, an industry ABM approach is key because it enables marketing teams to cut through all of this noise and put solutions in front of the right people. B2B buying cycles are often long, drawn out processes involving multiple stakeholders. Any insight that can accelerate the pipeline is likely to drive better results.
Crucially, viewing ABM through the industry lens highlights the specific challenges of target accounts, right down to departmental priorities, decision-making stakeholders and the buzzwords they need to hear in order be sold on your solution.
This is an increasingly popular approach. As highlighted by ITSMA, ‘Deloitte also has a number of marketing professionals who specialize in understanding industry-based trends, creating and distributing industry-based thought leadership content, and hosting industry-based events.’
The key is to conduct research into both the target account and the prevailing trends in their industry. Find out not just who makes the buying decisions there, but their present strategic priorities and the market conditions they’re operating in.
As ever with marketing, your first question should be ‘how can we help?’. An industry-based ABM will give you – and more importantly, your target account – the answer to that question. As we collectively look to the future, this approach will become ever more important in winning the hearts of audiences struggling to manage new and constantly shifting challenges.
87% of companies say ABM delivers higher ROI than other types of marketing. The best route to success – avoiding being part of the remaining, unlucky 13% – is filtering your messaging through an industry lens.
Try an industry ABM approach today, and reap the benefits in the long term.