Building a Stronger Business with Account-Based Marketing during Lockdown
No matter what industry you might be in and no matter the size of your company, the novel coronavirus has affected things. B2B and B2C companies have both seen their audiences dwindle, their reach shrink, and their profitability begin to dry up as a result of the coronavirus lockdown and the worldwide pandemic.
Here are two things to know. First, it’s going to get worse before it gets better. Second, it will get better. With that being said, you don’t need to wait until a cure is found or until the curve has been sufficiently flattened. You can take steps right now to mitigate the impact of Covid-19 on your company through account-based marketing.
What Is Account-Based Marketing?
First, let’s address what account-based marketing is in the first place. It’s really nothing more than assigning specific accounts to specific people within your business. Those individuals are then responsible for all outreach and marketing efforts regarding the account.
Why Account-Based Marketing?
Why should you consider account-based marketing now, when your advertising budget has likely been slashed? There are several reasons, including:
- It helps to increase the effectiveness of your marketing without a corresponding increase in costs.
- It helps to improve your relationship with key accounts, ensuring that you’re still able to serve their needs, even in the midst of the coronavirus lockdown.
- It can include a broad range of marketing strategies, including email and content marketing.
- It is a bespoke solution, unique to each account, ensuring that you’re not trying to use a cookie-cutter approach.
- It provides a way to nurture leads throughout the conversion process and long after they become customers.
In short, account-based marketing, or ABM, is a new name for a concept that has been around for as long as there has been a need to advertise. It refers to a personalised approach that is tailored to each account (or client, if you prefer).
How to Get Started
So, now that you know a bit more about what account-based marketing is and the benefits it offers, how do you go about getting started? It’s not all that complicated.
- Define High-Value Accounts – First, you’ll need to determine which accounts you want to target with this type of marketing. It’s a better fit for high-value accounts that will be major assets for your company.
- Define Personalisation – Next, it is time to determine how you will personalise your marketing efforts to each account and who will be responsible for handling all outreach and interaction efforts.
- Define Where to Reach Them – You also need to determine how you will reach those accounts. Is email the best option? What about LinkedIn or other social media channels? What’s more, you need to ensure that you can maintain messaging consistency across all channels.
Account-based marketing can provide you with invaluable traction during the coronavirus lockdown and ensure that you’re able to remain visible and relevant to your audience. However, it can be challenging to get started. We can help. Contact us today to schedule a consultation on account-based marketing and how to implement it.
