Account Based Marketing Powered by Outbound Can Amplify Your Conversion Rate

Introduction

What is ABM?

  • An outside-in approach where understanding the client enough to make a proposition that will benefit their business objectives is paramount as opposed to merely promoting a product just to make a sale.
  • Having sales and marketing work as a team for the benefit of the client and not for their own gain
  • A focus on customer lifetime value, relationships and reputation and not just on revenue.
  • Using tailored campaigns and programs based on market insight, individual buyer insight, and account insight to drive deeper engagement and conversion.

What is Outbound Marketing?

The Difference Between Outbound Sales and Account-Based Marketing

  • With ABM, sales and marketing work together consistently and using the same touch points to build relationships targeted at the same list of accounts. With outbound, sales and marketing efforts are directed towards converting leads. Additionally, they do not necessarily work with the same leads.
  • ABM is customer-centric and relies on insights to build long-term relationships. It, therefore, relies on internally shared profiles to identify initiatives that will address specific client pain points. With Outbound, the focus is more on pushing a product or service to a potential buyer to drive revenue.
  • In an account-based approach, sales and marketing must be aligned. In fact, without sales and marketing alignment, ABM will not work. With Outbound, sales and marketing are not necessarily aligned. They each use their own outbound tactics including email, phone calls, social, office meetings, etc. to generate opportunities with specific leads. Also, with outbound, sales and marketing do not necessarily target the same list of individuals.
  • With ABM, marketing has to play a consistent role in delivering an ‘always-on’ strategy. With Outbound, marketing is not necessarily consistent with their efforts and, in fact, often runs an ‘on-off’ strategy that is not explicitly directed at any account in particular but rather on leads.

Which is The Better for Your Business, Outbound or ABM?

Benefits of An Outbound Strategy

  • Outbound is predictable: In fact, you can use a mathematical formula to predict how much business your outbound efforts should be able to generate. To do so, decide on the revenue figure you want to produce, then figure out how many people you need to contact to reach the revenue target. If you need more customers and more revenue, just contact more prospects and leads.
  • Automation can be used to scale reach and effectiveness. Several automation tools can be used including, LinkedIn Sales Navigator, Discover.org, Salesforce, etc.
  • Outbound is proactive in picking customers to approach. As long as a prospective client meets an ideal customer profile, sales and marketing do not have to wait for customers. Instead, sales and marketing have total control of when and how to approach potential clients.
  • Outbound allows faster ramping up of customers. From day one, outbound can generate sales immediately. Within a matter of weeks, a business can reach a large number of prospects and leads who will eventually be converted into customers. In contrast, ABM and inbound strategies can take months (usually around 6 months), before results can be realized.

Benefits of An ABM Strategy

  • Excellent ROI when compared to other marketing strategies.
  • It is easier to mitigate risk and scale resources based on performance using automation that allows targeting, marketing, conversion, and upselling to customers.
  • Personalized approach. According to the 2018 Salesforce State of the Connected Customer Report, customers expect a personal touch. In fact, 83% of business buyers expect to be treated as a person and not a number to win their business. ABM allows sales and marketing to understand and focus on a potential customer’s specific pain points.
  • Sales-marketing alignment. ABM provides a clear strategy for sales and marketing to work together and shares information that will benefit individuals, teams and the entire business as a whole. Through SLAs and integration of siloed tools, sales and marketing have access to the same resources and synergies that can be used for everyone’s benefit, including the clients.
  • Better reporting. The effectiveness of an ABM campaign is simpler to measure not just because the focus is on a smaller target group but also because the customer acquisition process is streamlined. Measuring and reporting at the account level in a streamlined process allows comparison of past and present performance which is useful for improving future performance.

How Can ABM and Outbound Amplify Conversions?

ABM Relies on Data and Insights that Can Be Acquired Through Outbound

Relationship Building is the Cornerstone of Outbound and the Foundation of ABM

Outbound Delivers The Right Content Messaging to Targeted Prospects

Outbound Connects Stakeholders at Every Point of the Buying Cycle

  • Top-of-funnel (TOFU). Outbound can be used to build awareness, initiate contact, gather research, profile, provide immediate responses and distribute early stage resources.
  • Middle-of-funnel (MOFU). Outbound can be used to nurture stakeholders, deliver targeted content, and keep close engagement with targeted prospects and leads who in the ABM context are the decision makers in an account.
  • Bottom-of-funnel (BOFU). Outbound can retarget based on buying signals, provide immersive experiences such as walk-throughs and live demos, schedule one-on-one meetings, and follow-up on actionable engagements

Outbound Helps ABM to Align Sales and Marketing

Conclusion

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