Why account-based marketing isn't delivering the customer growth you need
Six issues with traditional Account Based Marketing, the goals of ABM & how to increase customer growth & CLTV with The Customer Growth Accelerator.
This is the second blog in our Account Based Marketing series, the first blog outlines ‘What is ABM and the types of ABM?’
What are the issues with ABM?
The key issue with Account Based Marketing is that often most of those crucial factors above don’t happen.
After leading the ABM strategy for many large global enterprises in a previous role, here are the 6 most common challenges I’ve seen with traditional ABM:
What is ABM trying to achieve?
ABM is a targeted way to grow existing customers and convert new customers. It aims to be both effective and efficient by focusing on the highest opportunity (or value) existing accounts, and the best fit new accounts – therefore increasing the likelihood of positive outcomes and therefore ROI in both instances.
If ABM is all about increasing CLTV (see more about Customer Lifetime Value in our paper on how on how to deliver Deep Growth) and delivering revenue – is it the best way of achieving this?
Is ABM in need of a reset?
As we outlined in our first blog in this series, ABM can help address the needs of a typical buying group for a complex B2B solution – consisting of on average 6-10 decision makers and 30 influencers.3 The question is whether it is delivering this in practice. Or, has ABM become too complex and moved too far away from its original purpose?
If you are looking to reach the right people with the right messaging to grow and increase CLTV – we don’t believe the answer is traditional ABM.
If customer growth is the goal – you need a solution that aligns sales and marketing teams behind unified objectives that focus on the leading indicators to pipeline. To guarantee success you need practical customer insight, an actionable plan that spans the entire customer journey, and a solution that is sales led and quick to execute. We’ve shown above where traditional ABM is falling short on all these.
Our answer to increasing revenue and CLTV is the Customer Growth Accelerator
In partnership with Applied Influence Group, we’ve developed the Customer Growth Accelerator which leverages the power of human connections to accelerate growth. It overcomes the issues of traditional ABM by being sales first, customer focused and delivering measurable sales results.
The Customer Growth Accelerator aligns sales and marketing teams together behind unified goals and clear actions to deliver tangible and trackable customer growth. Get in touch below to find out more.
The current climate also means the majority if not all organisations are focusing on efficiency, and teams are having to prove value with proof of concepts or pilots. That’s why we’ve developed the Customer Growth Accelerator to run as a pilot and be able to scale easily – plus it goes from kick off to launch in just 4 weeks. View the solution page below to find out more.