Every. Dollar. Counts.
Small to medium businesses alike are in the thick of it. Marketing budgets are being stretched to get the most out of their investments and extend their reach. Nearly 60% of B2B marketers are currently experiencing budget cuts and doubling down to make every cent count. Needless to say, marketers have their work cut out for them—again!
Good news is we’ve spotted a few ways to maximize your marketing budget and at the same time extend your outreach. And it all can be done thanks to account-based marketing (ABM)!
Maximizing on Budget Means Getting Hyper Focused
Advertising costs can stack up fast, but with an ABM approach, you are investing and reinforcing in air cover that is hyper-focused on your target accounts that are likely to buy. Rather than throwing dollars to the wind, your budget is being spent wisely on accounts that you KNOW are interested in or a strategic fit in your business based on your ideal customer persona (ICP). Here is an example of using Google Ads to target a wide range of accounts compared to a targeted ABM platform like RollWorks.
Once you target the right folks, take ABM to the next level directing your target account list (TAL) to personalized content and landing pages ensuring your messaging hits home. From here, you can see how your content resonates and prioritize target accounts. For instance, a target account starts as 'unaware' in April, and progresses through 2 stages by the end of May, ending up as 'engaged'. This is not only a clear indicator that your ABM approach is working, but that you are spending dollars on accounts that count!
Marketing & Sales Alignment is Essential
If your marketing and sales teams aren't aligned, not only are you less likely to hit your business goals, but you will be spending more in the process. Get realistic with how aligned both teams are by:
1. Agreeing on your target audience and ICP
2. Defining shared KPIs & map out the account journey
3. Assigning responsibility & start running plays
4. Fostering clear communication & feedback loops
Once you’ve narrowed down and agreed on your target audience, it's time for both teams to work together to define and map the account journey to identify how buyers will move through the funnel. This collaboration provides transparency across both teams and generates long-term efficiencies that deliver results.
With a solid journey map defined, you can lay out a clear roadmap ( again created by both teams), to ensure everyone knows what needs to be done when and to preempt any misunderstandings to make the most of every dollar that supports a campaign. Ideally, this plan should include the cross-team campaigns you plan to launch throughout the entire account journey.
Be sure you're actually enabling your sales team with tech that allows them to see which accounts are hot, and when to allow for prioritization & personalization. Soon, you'll see that this alignment speeds up sales cycles in no time, which you need to beat the competition.
MarTech Channels to Optimize
When your budget is in a bind, don’t throw away your MarTech (marketing technology)! Now more than ever, make the most of your tools and optimize them to their full potential. Who knows, you may be surprised to discover new ways you can leverage your tools unlike before.
Here are our top 3 channels that are a must to be included in your MarTech and how to optimize them.
CRM and marketing automation
CRM and marketing automation can help you build brand awareness, create targeted campaigns and grow traffic. Optimize to shorten sales cycles, convert more visitors, and drive revenue.
Digital engagement and personalization
Create tailor-made, effective content that will both speak to your TAL and meet them where they are, thanks to advanced personalization and segmentation capabilities.
Email signature marketing
Never underestimate the power of email. Include an image of a product, social media handles, or link to a company video next to your name and contact details to promote a new campaign or launch that resonated with your TAL.
When budgets matter most, you want to make sure your marketing is working hard for you. See our RollWorks and Hupspot checklist for ensuring your marketing is delivering the highest ROI.
About the AuthorFollow on Linkedin More Content by Alysha Parker, Content Marketing Manager