In an era of personalisation, account-based marketing (ABM) is about as personalised as it gets. Originating in B2B marketing, ABM campaigns have been adapted to suit the B2G sector, functioning as a highly targeted marketing approach aimed at specific government accounts (large ministry or local authority), as well as the key stakeholders or influential people within the accounts.
Account- based marketing isn’t really interested in capturing new leads. Instead, it works with existing customer accounts to create and capitalise on upselling and cross-selling opportunities. It’s successful too, with stats that say ABM campaigns drive more ROI and revenue growth than other marketing strategies.
Why Does ABM Work?
It’s been said again and again, modern consumers don’t just want personalisation, they expect it. In fact, they get tetchy if they don’t get absolute personalisation. ABM uses insights regarding customer behaviour, including buyer intent, to develop a marketing campaign specific to that target account’s needs.
It also encourages collaboration between sales and marketing teams. The combined knowledge, from different perspectives, enables them to create highly impactful marketing messages, designed to win high-value accounts.
The ability to identify the most promising prospects or qualified leads is one of the primary purposes of an ABM strategy. After all, you have to know who you’re targeting before you can go any further.
The temptation is to focus on buyers who often publish the most lucrative contracts, but they might not actually be the right target accounts for you. Size is a good guideline. SMEs might want to focus on potential customers who publish smaller contracts, rather than large-scale national projects (unless they’re subcontractors).
Stay on top of local news. A lot of news coverage focuses on government projects (new projects, old ones, successful ones, ones performing poorly). You can identify departments in charge of likely projects and start tailoring marketing content to woo the decision makers.
How Do Account-Based Marketing Strategies Work?
The first thing you need to do is build an Ideal Customer Profile (ICP) or buyer persona. Market research will identify which account-based marketing tactics are most successful for that type of customer, for example, events for C-Suite executives or webinars for assistant department heads.
Then you must figure out how to leverage the most suitable marketing channels to meet your ABM goals.
Let’s take events, for example.
Events are great for networking, building and nurturing relationships, and, as it turns out, personalised marketing. The type of event depends on your target audience. Department and assistant department heads might be won over at VIP dinners. Personalised invitations, gifts, and swag bags can generate a lot of goodwill, and if you happen to serve some of their favourite dishes or wines, well, that’s just icing on the cake.
Webinars are another good example.
There’s nothing easier than customising a webinar to suit a particular theme, challenge, or trend. Timing is important, so you must ensure it’s streamed on a meaningful date, like a week before releasing a new product or service. On that note, according to the 2023 BrightTalk LeadGen report, 97% of respondents consider webinars the best introduction to a specific supplier, product, or service.
In this instance, webinars could be invitation-only to ensure a truly captive (valued) target audience.
Direct mail can have a big impact
Direct mail might be considered quaint and on the way out by some, but its rarity heightens the impact of highly targeted marketing messages. Receiving something in the post is quite exciting and flattering, especially if it includes a gift or the prospect of a gift, like an invitation to an event with a voucher for some drinks at a cash bar.
Benefits of Account-Based Marketing
Account-based marketing campaigns have many benefits for the B2G sector. Perhaps one of the biggest is the alignment of marketing and sales teams. The unified approach helps both sides reach their goals; while providing the momentum your business needs to carve a bigger niche in public procurement.
Collaboration between sales and marketing teams can also do wonders for your ROI. The secret is in the holistic sharing of information, which helps tailor ABM campaigns more precisely. They can build an accurate buyer persona or Ideal Customer Profile (ICP) that enables them to create highly relevant content for each qualified lead.
The aim is to add value and foster trust, turning likely converts into high-value sales.
Hyper-personalisation is another one of ABM’s biggest advantages. You can create social media and paid advertising messages to target specific accounts. You can also create marketing emails for each influencer or decision maker. Use dynamic content to boost engagement and make the recipient feel like they own a top spot in your world.
One underestimated benefit is measurability. It’s usually underestimated because ABM is a long-term technique that runs across the entire (slow) B2G sales cycle. However, there are marketing metrics or KPIs along the way that show you whether you’re on the right track or need to change tack.
Handy KPIs include:
- Engagement rates
- Open and click-through rates
- Conversions
- Annual contract values
- Win rates
Cadence & Account-Based Marketing Help You Stand Out in Public Procurement
Cadence Marketing is one of the most successful B2G marketing companies in the UK, with years of experience backed by its parent company, BiP Solutions. We are constantly evolving to ensure our clients always benefit from the latest trends, techniques, and even software.
Our array of marketing-related services is easily adaptable to suit various purposes, including modern account-based marketing strategies. Why not contact us today to book a free consultation? Our experts are on hand to answer all your questions about how ABM can help you.
