Account Based Marketing Powered by Outbound Can Amplify Your Conversion Rate

Introduction

Is there a single B2B marketing strategy that suits all businesses regardless of size, industry, business objectives and so on? Probably not. However, a lot of companies can benefit from using different marketing strategies that complement each other in different ways.

Below is a closer look at Account-Based Marketing and Outbound, including some insight into how outbound can be used to augment an ABM strategy. But first, here is some background information about ABM and Outbound to ensure that we are on the same page.

What is ABM?

The term ‘account based marketing’ is said to have been first coined around 2004 by ITSMA. ABM however, did not gain traction until roughly around 2015. The purpose of ABM was to prevent marketers from using generic sales pitches and to instead focus on the essential needs of their top clients.

As such, the underlying principles of ABM include:

According to recent statistics, 87% of B2B companies report that ABM delivers a higher ROI than any other type of marketing. This is undoubtedly a compelling reason for the growth of ABM in recent times. In fact, another study reports that almost 70% of B2B companies are using ABM to some degree. Some would say that besides outperforming the ROI on other forms of marketing, a part of ABM’s popularity is because it is seemingly diametrically opposed to inbound marketing. The idea here is that instead of chasing every lead (as in the case of inbound marketing), businesses should instead maximize their efforts and focus on engaging only the best accounts.

Figure 1: ABM is an inverted lead generation or inbound marketing funnel

So, in short, ABM is a strategic approach to marketing that focuses on personalized marketing and sales efforts that seek to benefit the client in meeting their business objectives. An in-depth understanding of the client and their needs is paramount in opening the doors to deeper engagement with specific accounts.

What is Outbound Marketing?

A lot of people would define outbound marketing as the opposite of inbound marketing. In other words, a company reaches out to potential clients instead of having the clients reach out to you as is the case in inbound marketing. Outbound is disruptive by nature because it seeks out prospects and may at times make a lead feel bombarded and turned off by the information that has been put in their face. This is why it is sometimes called interruption marketing.

A solution to interruption marketing is instead targeting specific clients who may be interested in an offer. If this targeted outbound marketing sounds like ABM to you, because it is more strategic and personalized, no one will blame you. However, there are clear distinctions between outbound and ABM.

The Difference Between Outbound Sales and Account-Based Marketing

Some of the main differences between ABM and outbound are as follows:

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

In considering the better alternative, it is imperative to understand the benefits of both ABM and outbound. By understanding the strengths of each strategy, a case can be made for actually using both these strategies to turbo-charge the results that sales and marketing seek.

Benefits of An Outbound Strategy

The advantages of outbound strategies are as follows:

Benefits of An ABM Strategy

Account based marketing benefits for software companies, HR companies, tech companies, manufacturers and across different industry verticals can differ since, by definition, ABM is highly targeted. That said, generally, the advantages of an ABM strategy are as follows:

Figure 2: Benefits of an ABM strategy

How Can ABM and Outbound Amplify Conversions?

Based on everything discussed so far, its not that difficult to see how ABM powered by outbound can deliver amazing results. Basically, you can use Outbound’s direct approach to reach lots of leads and gather as much insight about them, and then fine-tune your strategy by pulling together your resources and going after each individual in the DMU (decision-making unit) based on the information that you have gathered.

Here are a few more ways that outbound can amplify conversion within a broader ABM strategy:

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

Outbound marketing’s targeted approach for one-on-one interaction with potential buyers provides plenty of opportunities to obtain useful data that an Account Based Marketing strategy needs. By creating and keeping track of ideal customer profiles, an outbound targeted approach can reach individuals in a DMU right away and gather useful information that will fuel an ABM strategy.

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

Outbound channels are based on one-on-one interaction to initiate and build meaningful relationships that will end up with conversions. On the other hand, authentic customer-centric relationships are an underlying principle of ABM. When the two are used together to complement each other, the results will speak for themselves.

Outbound Delivers The Right Content Messaging to Targeted Prospects

One of the main objectives of an ABM strategy is to ensure that content is provided to the correct individuals in the decision-making unit because this content is what drives the right purchasing stakeholders through the sales funnel. Not only does outbound deliver targeted content to targeted prospects but it also provides certainty that the prospect has interacted with the message. Additionally, outbound can provide content at a large scale which further amplifies what you can achieve with ABM.

Figure 3: How different types of content impact an ABM strategy

Outbound Connects Stakeholders at Every Point of the Buying Cycle

If ABM is to be successful, potential clients must remain engaged throughout the buying cycle before they can become clients. If engagement is not achieved throughout the buying process, then potential clients will easily leak out of the pipeline. Outbound is useful in this regard because it keeps targeted clients or decision makers engaged throughout the sales funnel in the following ways:

Outbound Helps ABM to Align Sales and Marketing

One of the core principles necessary for ABM to work is sales and marketing alignment. Outbound is excellent at gathering research and providing insight that is useful to prioritize accounts. Through reliable and trustworthy insight, sales and marketing are compelled to work together on high-value accounts because they are likely to have the highest ROI. Furthermore, outbound’s direct approach and more in-depth engagement facilitate more productive conversations and follow-up that translate into more and faster conversions.

Conclusion

Outbound is critical to the success of ABM. By coordinating sales and marketing outbound efforts, B2B companies can ensure that their ABM campaigns have the scale and personal touch that outbound channels offer. When both ABM and Outbound are used together, there is little doubt that the results will be much better than using each strategy on its own.

Originally published at https://www.unboundb2b.com on April 18, 2019.