Cold calling is no longer popular with buyers these days, which is why marketers are increasingly relying on Account Based Marketing (ABM).
When ABM emerged in marketing circles for the first time a few years ago, it was lauded for its potential to bring sales and marketing teams together. But unfortunately, competition between these departments is still on today, even though this customer-centric approach offers the perfect opportunity for departments to come together. In fact, ABM strategy can only work if both teams work closely together, because customers’ expectations for a personalized customer experience put huge pressure on sales and marketing teams to address customers with the right content and messages at the right time. ABM allows marketing and sales teams to sell more successfully and face challenges together.
Joined forces overcome limitations
The digital reality with home office and virtual meetings poses an enormous challenge for sales since it has become more difficult to impress and inspire customers and ultimately close a deal. Marketing can be a big sales support and close collaborator. Particularly, B2B buyers are getting more and more information digitally, and thus meet sales much later in the buying process. Therefore, marketing must lay the foundations for the process to continue seamlessly to complete the sale. This is also in the interest of marketing since their expenses are increasingly measured in terms of sales growth.
Smart analyses for both sales and marketing
Data and analysis are essential to coordinate any future actions with sales and to better understand customer expectations and needs. Marketers need to be able to measure and analyze the effectiveness of marketing content to provide answers on how they are used by sales or if they are used at all? Answers to these questions will help marketers tailor their strategies and content accordingly to ensure customers get the right message at the right time and get a proven benefit from it.
Cooperation instead of working side by side
In addition to the data, marketing must also listen to feedback from the sales teams which is usually in direct contact with the customer and has therefore an insight into the special challenges of the customers and into the information and content they want. Therefore, the communication channels between marketing and sales must always be open and technology that helps to establish collaborations should be fully used. Because if updates aren't made quickly, opportunities can be missed, or worse, a customer can be alienated by irrelevant, outdated, or even incorrect content or information.
Ultimately, account-based marketing is great to bring sales and marketing finally together which is needed to achieve a truly personalized and great customer experience. Its focus is not on winning the most customers, but on targeting the most relevant and valuable customers who are very likely to buy. At a time when buying behavior is changing radically, and the pressure on marketing and sales is increasing to sell more efficiently and effectively, integrated account-based marketing can clearly provide significant support in achieving these goals.
By Daniela La Marca