Account-based marketing (ABM) has gained traction in the last couple of years, with many marketers revealing that they have almost doubled their ROI from ABM.
However, some might be missing the mark when leveraging ABM, and the reasons can be plenty. In this article, we’ll discuss three reasons why marketers are not enjoying the full potential of ABM.
Misalignment with the buyer’s needs is often the main reason brands fail at ABM. The increasingly digital era of informed buyers requires marketers to adapt and learn to see things from the buyer’s perspective.
To have your ABM strategies in balance with the buyer’s needs, you must:
- Research. Discover your buyers’ interests
- Get familiar with your competition’s offerings
- Make the most out of what your brand can do differently to meet the buyer’s needs
Once the buyer’s needs are understood, timing is of the essence. This is challenging though, as the buying process is never linear—on the contrary, it’s quite confusing oftentimes.
Therefore, since you can’t control this process, switch your attention to what depends on you.
More exactly, after figuring out your buyer’s needs, the next step is to uncover the right time for you to step into the buying cycle. Offering your product at a convenient time in the buying process is many times critical to sales success.
Companies that align their sales and marketing efforts are seeing 24% faster three-year revenue growth and 27% faster three-year profit growth.
Although marketing and sales teams that connect their ABM approaches have seen proven benefits, 1 in 4 companies says their sales and marketing teams are either “misaligned” or “rarely aligned.”
Nevertheless, the success or failure of ABM also depends on how skillfully companies manage to connect their sales and marketing departments, to build a highly targeted, effective campaign.
In the digital world, growing your sales requires a balanced set of strategies and digital tools.
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