If you’ve considered account-based marketing as a way to accelerate new business, I would say to go for it. Account-based marketing (ABM) is effective, because it’s efficient, easy to implement, and yields impressive results.
But, one of the first things you need to know about crafting an ABM strategy is what the potential roadblocks could be and how to avoid them. Over the past few years, I have found that businesses that are new to ABM typically make three main mistakes that prevent them from fully succeeding.
3 Account-Based Marketing Mistakes (and How to Avoid Them)
Here are the three most common account-based marketing mistakes that brands make, along with some tips for how to avoid them:
- Not engaging the sales team in the strategy from the beginning
In order for your account-based marketing efforts to work, your sales team needs to understand how it works and be on board with this new way of lead generation.
Unfortunately, I see a lot of businesses start in the marketing department and dictate the change to the sales team instead of getting their buy-in from the beginning. If you want your account-based marketing to be successful in the long run, it’s important to engage sales teams from day one to eliminate confusion down the road.
- Not aligning around the right target accounts
Identifying the right target accounts is key to converting new business. But, your former strategies for finding the right target accounts may no longer be effective. Rather than simply identifying people who “might” buy from you, think about the technology and data you can bring in to align on the right target account list.
Your sales and marketing teams should know (and agree) on exactly who you’re trying to reach. Data can be a great asset to better understand the people who are influencing the buying decisions within those accounts.
- Tackling too many areas of ABM all at once
If you want to achieve long-term success, don’t feel the pressure to create the most sophisticated ABM strategy from the very beginning. Start small with ABM wherever you’re having the biggest challenges with your marketing. Find an ABM tactic you can implement in the next 90 days and make headway in that area first. Once you’ve gained some traction, you can expand throughout the organization once you’ve proven the process works.