As an SME business owner, there is no doubt that your marketing campaign ranks among the top priorities in the company. Making sure you have a robust campaign that effectively targets your customers and hopefully attracts new ones is imperative to the very success of the company. Of course, with that said, a marketing campaign isn’t something that is set in stone. It needs to be able to adapt and evolve in order to meet the individual needs of the business and its customers.
This is exactly why so many companies are now looking at account-based marketing. But is this a practice your SME could benefit from, and if so, how? Let’s take a look a closer look at this marketing technique.
What is Account-Based Marketing?
So, what exactly is account-based marketing? This is the practice of creating marketing campaigns and techniques that specifically speak to your highest-valued customers. For SME’s that have a list of high-value customers, this would be the clients you are building the marketing plan around and for. The idea is that the messaging speaks directly to that customer, and the sales team is able to direct efforts to that messaging and ensure that it helps the company to grow and ultimately bring in higher profits.
This particular method is known as a growth strategy, specifically a growth strategy where your highest-valued customers are concerned.
What are the Benefits?
The benefits of this type of marketing plan can be far-reaching, depending on the client list and the desire to grow and expand in the market. Right away, it’s able to weed out those customers that really aren’t helping the company in the long-run, nor adding to its overall goals.
Another benefit that you will start to realize pretty quickly is that it often improves the client relationship, as those highly valued customers get to see just how important they are. Your marketing message speaks to them directly, making them feel understood and valued. You are meeting their needs.
It can also help to create a more results-driven marketing plan that is highly effective. Sometimes, your marketing plan can be too much of everything, which ends up missing the mark. If you’re trying to appeal to a wide variety of customers, with a huge offering of products and services, the marketing message becomes lost and jumbled. At the end of the day, you can end up pretty disappointed in the results.
What this means is you can create a more goal-oriented plan. As Guerrilla, a marketing company that specializes in account based marketing, points out, this approach can shorten the sales cycle, result in better leads, higher profits, and even result in better contracts.
A Forward-Thinking Approach that Can Really Pay Off
At the end of the day, if you find your marketing campaign isn’t getting the kind of results you’re after, it could just be it’s time to re-work things entirely. Focusing in on your most highly-valued customers can lead to much greater results.