July 19, 2019
Take Your ABM Program from a Pretty Acronym to a Revenue Center
Many B2B advertisers have a highly specified target audience that they want to reach. In a world where 0.75% of leads actually generate closed revenue (Forrester), advertisers are increasingly demanding more targeted advertising solutions. Why pay to show ads to thousands of companies, if only a few dozen of them are even likely to purchase? This is the reality of the B2B marketspace. In an effort to make sure they’re reaching these highly specified audience segments, many B2B advertisers are effectively creating their own shortlists through a strategy known as account-based marketing (ABM).
Let’s say you sell a tool targeted to CTOs at Fortune 1,000 companies. Your ads are only relevant to, at most, tens of thousands of people. Showing ads across the internet might help you attract some of these potential customers, but you’ll also pay for clicks from lots of unqualified searchers. With account-based marketing, you can target Social ads to executive-level employees at target companies. In addition, you can target Search ads to searchers at or near target company headquarters, while excluding everyone else.
ABM is an emerging B2B marketing strategy that consolidates advertising resources to a pre-defined set of target accounts within given markets. Once you have defined the list of targets, you determine what resources and content will be most resonant with the companies on the account list.
ABM provides several benefits over less-targeted marketing strategies, including the following:
One of the benefits of paid search is that we’re able to market to prospects directly in the moment when they’re looking for a specific service or product. But what if we could layer that with the additional context that the potential lead would definitely be profitable for the business if she converted?
There are several ways that you can leverage digital marketing to reach a highly-targeted set of potential customers. Here are our top suggestions.
Let’s say you sell enterprise project management software that only services Fortune 500 companies. If you were to bid on “project management software”, you are going to bring in a lot of leads that fall well outside of your target market. By leveraging ABM strategies, you can cast a more targeted net. If Apple is one of your target accounts, you could use AdWords radius targeting to serve ads within 1 mile of Apple Park in Cupertino. At the same time, you could also serve LinkedIn ads to anyone with a VP-level title at Apple. This refined targeting will increase the likelihood that decision-makers at your target company see your ads, while excluding less-qualified potential leads. Ultimately, you’ll enhance your ad targeting and save money.