Account-Based Marketing: How to Run ABM with HubSpot
Posted: Mon Dec 23, 2024 5:53 am
Account-based marketing (ABM) is a powerful tool in any marketer’s arsenal, especially if your annual contract value (ACV) is high and the relative number of opportunities in your market is low.
Because ABM requires close cooperation between marketing and sales, everyone involved must have a common understanding of what it is and the tools and techniques needed to ensure ABM success. Let’s dive right in!
TL;DR Account-Based Marketing
Account-based marketing (ABM) is a targeted, highly personalized approach that focuses on high-value accounts.
HubSpot offers the tools you need to optimize your ABM efforts. Start by defining your ICPs , compiling a list of target accounts, and identifying your buyer personas— you can do this manually or by integrating tools like Sales Navigator, ZoomInfo, Bombora, Clearbit, RollWorks, or Terminus.
HubSpot’s native ABM functionality allows you to centralize your ABM strategy and execution , facilitating seamless transitions between marketing and sales teams.
ABM with HubSpot
Why is ABM Important?
70% of B2B marketers say ABM is effective or very effective. (Source: HubSpot)
ABM campaigns generate 10-15 times more revenue than traditional marketing campaigns. (Source: Forrester Research)
Companies that use ABM experience a 100% increase in the quality of their leads. (Source: Demandbase)
ABM campaigns can reduce the cost of acquiring a new customer by up to 80%. (Source: Oracle)
Companies using ABM experience a 30% increase in sales. (Source: Gartner)
First, a little history about ABM.
The origin and date when ABM practices began can be debated, but we do know that the term was introduced by the IT Services Marketing Association (ITSMA) in 2003 and then in a groundbreaking 2004 paper titled “Account Based Marketing: The New Frontier.”
Despite ABM’s enduring presence as a marketing strategy (considering how quickly trends can come and go, at least!), it remains widely misunderstood by the modern marketer.
The Rise of Account Based Marketing - Timeline. Source: itsma.com
What ABM is not
To help us understand what ABM is, let's look at four things ABM is not .
Account-based marketing is not a standalone practice exclusive to other forms of marketing. It is a framework and philosophy to place your tactics and strategies within. You can run inbound as part of ABM. Demand generation can be a component of ABM. Webinars, content campaigns, and in-person events can all be part of your ABM campaign.
ABM is not demand generation with an account focus. Demand generation how to get singapore number for whatsapp complement your ABM campaign, but they are two different things.
Demand generation focuses on driving demand rather than just leads. It requires sales and marketing to work together on lifecycle stage definitions and transitions, so while it fits naturally within the ABM framework, it is not the same thing.
ABM and using intent data are not the same thing. You can run ABM without intent data and use intent data without running an ABM strategy. Intent data helps drive relevance in any marketing strategy when implemented properly, but it is not required to be relevant or personalized. Remember, ABM has been around since 2003, long before ZoomInfo, Seamless.ai, and Bombora were around to tell us our prospects’ every move.
Account planning and ABM are not the same thing. Does ABM involve account planning? Yes. Does every team that does account planning have to run an ABM campaign? No. Account planning is a sales strategy that can be run independently or in conjunction with marketing to market in line with the account planning done by sales.
So what is ABM?
Account -Based Marketing is a hyper-personalized marketing strategy that aligns marketing and sales with selling to target accounts. This is achieved by building value among a segment of stakeholders that make up a buying committee.
By being hyper-customer-centric, brands become trusted and reliable to their target accounts.
Consumers
91% of consumers are more likely to choose brands that offer them relevant offers and recommendations. - Accenture
Because marketing and sales are closely synchronized, the customer experience is seamless and relevant to their place in the buyer’s journey. From the first impression at the “top of the funnel” (ToFu) to the assets sales use in the discovery process and beyond, marketing and sales move hand-in-hand in perfect harmony.
Customer alignment and obsession, along with the fundamental components of ABM, the tactics and strategies you implement, make ABM effective in increasing account engagement.
ABM Acronyms and Jargon Explained
Marketing and sales are two disciplines filled with jargon and acronyms. If you’re executing an ABM strategy, it’s smart to make sure both teams are clear on what’s meant when ABM terms inevitably start to come up. Here are seven you’ll want to know:
ICP - This is your ideal customer profile. The ICP is typically created using a combination of firmographic, technographic, and demographic factors, and is an essential guide to determining whether or not an individual account is one you should target. Many companies use ICP levels to guide marketing and sales tactics and strategies based on the level or how much value the account has to your business.
TAL - Target Account List. This is a list of accounts that you have identified as high value and that you are going to focus your campaigns on. Build target account lists by choosing individual accounts or using your PCI to find accounts that meet those parameters.
Because ABM requires close cooperation between marketing and sales, everyone involved must have a common understanding of what it is and the tools and techniques needed to ensure ABM success. Let’s dive right in!
TL;DR Account-Based Marketing
Account-based marketing (ABM) is a targeted, highly personalized approach that focuses on high-value accounts.
HubSpot offers the tools you need to optimize your ABM efforts. Start by defining your ICPs , compiling a list of target accounts, and identifying your buyer personas— you can do this manually or by integrating tools like Sales Navigator, ZoomInfo, Bombora, Clearbit, RollWorks, or Terminus.
HubSpot’s native ABM functionality allows you to centralize your ABM strategy and execution , facilitating seamless transitions between marketing and sales teams.
ABM with HubSpot
Why is ABM Important?
70% of B2B marketers say ABM is effective or very effective. (Source: HubSpot)
ABM campaigns generate 10-15 times more revenue than traditional marketing campaigns. (Source: Forrester Research)
Companies that use ABM experience a 100% increase in the quality of their leads. (Source: Demandbase)
ABM campaigns can reduce the cost of acquiring a new customer by up to 80%. (Source: Oracle)
Companies using ABM experience a 30% increase in sales. (Source: Gartner)
First, a little history about ABM.
The origin and date when ABM practices began can be debated, but we do know that the term was introduced by the IT Services Marketing Association (ITSMA) in 2003 and then in a groundbreaking 2004 paper titled “Account Based Marketing: The New Frontier.”
Despite ABM’s enduring presence as a marketing strategy (considering how quickly trends can come and go, at least!), it remains widely misunderstood by the modern marketer.
The Rise of Account Based Marketing - Timeline. Source: itsma.com
What ABM is not
To help us understand what ABM is, let's look at four things ABM is not .
Account-based marketing is not a standalone practice exclusive to other forms of marketing. It is a framework and philosophy to place your tactics and strategies within. You can run inbound as part of ABM. Demand generation can be a component of ABM. Webinars, content campaigns, and in-person events can all be part of your ABM campaign.
ABM is not demand generation with an account focus. Demand generation how to get singapore number for whatsapp complement your ABM campaign, but they are two different things.
Demand generation focuses on driving demand rather than just leads. It requires sales and marketing to work together on lifecycle stage definitions and transitions, so while it fits naturally within the ABM framework, it is not the same thing.
ABM and using intent data are not the same thing. You can run ABM without intent data and use intent data without running an ABM strategy. Intent data helps drive relevance in any marketing strategy when implemented properly, but it is not required to be relevant or personalized. Remember, ABM has been around since 2003, long before ZoomInfo, Seamless.ai, and Bombora were around to tell us our prospects’ every move.
Account planning and ABM are not the same thing. Does ABM involve account planning? Yes. Does every team that does account planning have to run an ABM campaign? No. Account planning is a sales strategy that can be run independently or in conjunction with marketing to market in line with the account planning done by sales.
So what is ABM?
Account -Based Marketing is a hyper-personalized marketing strategy that aligns marketing and sales with selling to target accounts. This is achieved by building value among a segment of stakeholders that make up a buying committee.
By being hyper-customer-centric, brands become trusted and reliable to their target accounts.
Consumers
91% of consumers are more likely to choose brands that offer them relevant offers and recommendations. - Accenture
Because marketing and sales are closely synchronized, the customer experience is seamless and relevant to their place in the buyer’s journey. From the first impression at the “top of the funnel” (ToFu) to the assets sales use in the discovery process and beyond, marketing and sales move hand-in-hand in perfect harmony.
Customer alignment and obsession, along with the fundamental components of ABM, the tactics and strategies you implement, make ABM effective in increasing account engagement.
ABM Acronyms and Jargon Explained
Marketing and sales are two disciplines filled with jargon and acronyms. If you’re executing an ABM strategy, it’s smart to make sure both teams are clear on what’s meant when ABM terms inevitably start to come up. Here are seven you’ll want to know:
ICP - This is your ideal customer profile. The ICP is typically created using a combination of firmographic, technographic, and demographic factors, and is an essential guide to determining whether or not an individual account is one you should target. Many companies use ICP levels to guide marketing and sales tactics and strategies based on the level or how much value the account has to your business.
TAL - Target Account List. This is a list of accounts that you have identified as high value and that you are going to focus your campaigns on. Build target account lists by choosing individual accounts or using your PCI to find accounts that meet those parameters.