Are you planning to implement an account based marketing strategy for your business? While ABM can be an effective way to target and engage with key accounts, it’s not without its challenges.
You make common mistakes that can derail your ABM efforts before you even get off the ground. To help you avoid these pitfalls, we’ve compiled a list of the top five mistakes to avoid when implementing an ABM strategy.
From not using personalization to failing to align sales and marketing teams, read on to learn more!
Not Using Personalization
One of the biggest mistakes that you make when implementing an account based marketing strategy is not using personalization. Personalization is key to success with account based marketing. With personalization, you can help engage your prospect and build success.
Personalization helps create targeted content for each account, leading to more effective segmentation. If you want to be successful with account based marketing, you need to take the time to get to know each account you’re targeting.
Failing to Align Sales and Marketing
Sales and marketing alignment is critical to the success of any account based marketing strategy. Yet, it’s one of the most common areas of ABM that organizations struggle with. There are several reasons for this, but often it comes down to a lack of communication and collaboration.
To avoid this mistake, you can define the roles and responsibilities. Make sure you have the right tools to support sales and marketing alignment, such as shared customer relationship management or account based marketing platforms.
Ignoring the Buyer’s Journey
Another mistake to avoid when implementing an account based marketing strategy is ignoring the buyer’s journey. This journey is a decisive factor in creating a successful ABM strategy. It can help to determine and define target buyers.
Your ABM approach will be ineffective and success is doubtful if you ignore the purchasers’ journey. So, make sure you should incorporate the buyer’s journey into your strategies.
Not Leveraging Technology
Not leveraging technology is one of the top five mistakes to avoid when planning an ABM strategy. Without the right technology, you will struggle to segment accounts. Also, gain insights into your customer base and target your audience.
Technology helps to ensure that your marketing efforts are successful. Using the right technology, you can enable to leverage the most current data.
Not Tracking Progress and Analyzing Results
If you’re not tracking your progress and analyzing your results, you will not know what’s working and what’s not. You need to evaluate your account based marketing strategy. Otherwise, you’re just wasting time and money.
It is essential to track progress and analyze results. This can be done by setting up KPIs (key performance indicators) for each stage of the account based marketing process.
Analysis results can help you to identify key trends and gain insights. This includes what type of ads are being clicked and which content is being read.
Avoid These Mistakes When Implementing Your Account Based Marketing Strategy
Implementing an account based marketing strategy is a valuable component of any successful marketing plan. When developing an ABM strategy, it is necessary to avoid the top five mistakes.
To get the most out of ABM initiatives, make sure to keep these points in mind. Start implementing your account based marketing strategy today!
