![\"\"](\"https:\/\/www.cigniti.com\/blog\/wp-content\/uploads\/2024\/06\/The-Strategic-Value-of-ABM-Transforming-Client-Relationships-and-Business-Growth-Diagram.png\"){kind=spacer}
\nThe Shifting B2B Strategies<\/h2>\n
When major B2B providers realize that the cost of acquiring new clients is becoming prohibitively high, with much longer sales cycles, both mid-sized and large service providers have shifted their focus towards generating 70 to 85% of their annual revenues from existing accounts year after year. They ensure renewals of Statements of Work (SoWs) and secure a significant portion of new business from these accounts through account mining.<\/p>\n
One of the prime enablers driving this growth and client retention is Account Based Marketing (ABM), which focuses on each such account with high growth potential as a market by itself, unleashing the power of full stack marketing, thus elevating Marketing as a strategic function with the perception of being a support function becoming the thing of the past.<\/p>\n
From being a traditional B2B intervention, ABM has now evolved into a human-to-human (H2H) approach that runs on AI tools, sanity in the fact that it addresses personalization. This has made the world of ABM a lot more exciting and fascinating than before, apart from becoming a compulsive necessity for every aspirational business and the leaders driving the growth.<\/p>\n
Focused and consistent ABM interventions help drive the following three principal business development objectives:<\/p>\n
In perfect alignment with business, the marketers leading ABM for the account work in tandem in a two-in-a-box mode with the client partners. A successful partnership entails account profiling, leadership mapping, and agreeing on a calendar of interventions with short-term, mid-term, and long-term measurable goals. By establishing transparency, trust, and predefined metrics to track and measure success, ABM effectively demonstrates its impact on the leadership.<\/p>\n
Moreover, the brand voice, which exemplifies the brand values and relevance at every touch point, is crucial to consistently creating winning experiences. At the center, brand relevance\u2014an integral part of customer engagement\u2014emanates from the learning, unlearning, and relearning cultures of an organization that showcases excellence, innovation, and differentiation in its response to market dynamics. The recognition of strengths and augmented capabilities from a dynamic partner ecosystem further supports this relevance.<\/p>\n
Effective ABM requires that Sales and Marketing join hands in a harmonious collaboration. This collaboration would engage with the ecosystem in co-creation to ensure a win-win-win synergy for Sales, Marketing, and the Client. Start small with a minimal set of high-potential accounts and wait for the magic to happen through ABM, driving improved client perception, delight, and pipeline impact.<\/p>\n
ABM, in a nutshell, acts as a strategic key to changing client relationships and growing one’s business sustainably with better client relations and incremental revenues. It accomplishes this by starting small and then scaling once the results begin to unfold. Embrace ABM and see the transformative impact on your business.<\/p>\n