For any business, finding and generating leads can be intimidating. This is especially true in the B2B business model. There’s often the misconception that spending more means getting more. However, the good news is that misconception is completely false. Casting a wide net is no longer an effective use of your time and resources. Business
For any business, finding and generating leads can be intimidating. This is especially true in the B2B business model. There’s often the misconception that spending more means getting more. However, the good news is that misconception is completely false. Casting a wide net is no longer an effective use of your time and resources. Business leaders are constantly being bombarded with messages, so if you are not being intentional about your message and delivery, it’s likely to be drowned out and become white noise.
What does an effective model for B2B marketing look like in today’s media-rich environment?
The answer lies in what is called account-based marketing: personalizing your messaging and communications to a specific account. This helps your campaigns resonate with highly targeted audiences. Not only that, but this approach allows for the focusing of both your sales and marketing teams towards a common objective and a synchronicity of approach.
Who would use account-based marketing, and why?
To give you an example, let’s visit “Bob” at his widget factory in Florida. Bob’s widgets are used to make wheels. Common knowledge dictates that Bob market his widgets to every wheel manufacturer he can possibly find. After all, the more people that know about his business, the more people will buy his widget.
Or would they? Sometimes, the more general you make your messaging, the less powerful your marketing becomes. One specific wheel manufacturer might have different needs than another. An aerospace client might have different concerns that one that focuses on automobiles.
This is where account-based marketing comes in. If Bob were to use the account-based marketing model to sell his widgets, he would be far more targeted in his audience and be more likely to reach them more successfully.
How would Bob get started with account-based marketing?
He would first do market research and figure out that geographically south Florida is currently being underserved in the widget market, so he could target that geographic area. Or, maybe he targets companies which make wheels that need to withstand high temperatures. He could then create messages that those business leaders see across multiple channels and try to meet their need. All the while, Bob is developing relationships and creating new business.
In that short example, you can see why account-based marketing over a broad approach tends to lead to more success.
What about account-based marketing makes it so successful?
The power of account-based marketing lies in the power of its four-pronged approach.
- It is segmented so all communication is as relevant to a decision-maker as possible seeking to solve a problem they have.
- It is integrated so that the targeted audience sees a consistent, cohesive message across multiple channels.
- It is content-driven driving engagement and dialogue, rather than just a one-time sale.
- It has a researched and defined duration, nurturing response and education within the targeted list.
At Dream Factory, we believe in the account-based marketing approach and work hard to provide our clients with the latest tools to reach their desired consumer.
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