SPROUTWORTH

How to Make an ABM Funnel That Drives Growth Fast

How to make an ABM funnel that drives growth fast

In B2B marketing, funnels closely link marketing to sales. However, the ABM funnel focuses on accounts instead of leads.

Put another way, the B2B funnel is a marketing funnel associated with lead generation and nurturing efforts. It focuses on the lead generation, lead nurturing, and sales qualification of potential customers. The B2B funnel focuses on leads, while the ABM funnel focuses on Accounts.

In case you are unfamiliar with Account Based Marketing (ABM), it is a highly targeted approach that focuses on specific accounts or companies, rather than a broad audience. By creating a tailored ABM funnel, businesses can effectively engage their most valuable prospects and customers, ultimately driving faster growth.

Sales and marketing are two departments that don’t always get along. However, with an ABM approach to creating an effective, converting funnel, they’re all on the same page.

In this podcast episode, we’ll examine how to build an ABM funnel with the right metrics to measure your efforts and ensure rapid growth.

Table of Contents

About Sheila

Sheila Kloefkorn is a marketing expert with more than 25 years of experience. She leads a talented team of marketers in creating and executing award-winning marketing campaigns across the US and more than 100 countries worldwide.

After helping to lead the world’s largest youth marketing agency in the late 1990s, Sheila founded KEO Marketing in 2000. KEO Marketing is a full-service, business-to-business marketing agency in Phoenix, Arizona. It specializes in marketing strategy, messaging, digital infrastructure, execution, and analytics.

Sheila is the recipient of many local and national marketing awards. She was named one of the “Top 10 Business Leaders of the Year” and “Top 25 Dynamic Women in Business” by the Phoenix Business Journal. On behalf of her company and client, she received a Stevie ® American Business Award for “Marketing Campaign of the Year,” and a Stevie Worldwide Women in Business Award in Advertising, Marketing, and Public Relations. She was also named one of the Top 100 Marketing & Advertising Leaders by MarSum.

In this episode, Sheila shares how we can make an ABM funnel that drives growth fast.

Understanding The Impact of an ABM Funnel

Did you know that 87% of marketers say account-based marketing (ABM) delivers higher ROI than other marketing activities in a successful sales funnel that targets key decision-makers? The account-based marketing funnel is revolutionizing how businesses target and engage high-value accounts, fostering relationship-building within the team. Companies can create personalized campaigns that resonate deeply with their audience by focusing on specific accounts and incorporating ABM sales funnel strategies.

This approach boosts engagement and drives conversions and revenue. Understanding the ABM funnel is crucial for any marketer looking to maximize their impact. In this post, we’ll break down each stage of the market funnel, from identifying key accounts to nurturing relationships and closing deals. Whether new to ABM or looking to refine your strategy, this guide will provide actionable insights to help you succeed in the account based marketing funnel.

Key Takeaways

  • Understand ABM Fundamentals: Grasp the essentials of an Account-Based Marketing (ABM) funnel, which focuses on targeting high-value accounts rather than individual leads, optimizing marketing efforts.

  • Differentiate ABM from Traditional Funnels: Recognize that ABM strategies differ significantly from traditional marketing funnels by emphasizing personalized engagement with key decision-makers in targeted accounts.

  • Steps to Create an Effective ABM Funnel: Follow a structured approach to build an ABM funnel, starting with identifying high-value accounts, engaging decision-makers, and personalizing market content.

  • Identify High-Value Accounts: Prioritize identifying and researching high-value accounts to tailor your marketing efforts more efficiently and effectively.

  • Personalize and Engage: Develop personalized marketing content and engage decision-makers directly to foster stronger relationships and drive conversions.

  • Measure Success: Regularly measure the success of your ABM campaigns using relevant market metrics to refine strategies and continually improve outcomes.

What is an Account-Based Marketing Funnel

Definition and Structure

Account-based marketing (ABM) is a strategy that focuses on high-value accounts. It aims to target specific accounts to generate better market revenue. Unlike the traditional marketing funnel, ABM prioritizes quality over quantity.

The structure of an ABM funnel starts with market account selection. Companies identify key accounts that align with their goals. Next, they engage these accounts through personalized marketing efforts. The final stage is conversion, where targeted accounts become market customers.

Integration of Marketing and Sales

Seamless alignment between marketing and sales teams is crucial in ABM. Integrated efforts lead to more effective targeting and engagement. Both teams must collaborate to execute ABM strategies successfully.

Collaboration ensures consistency in messaging and approach. This unified effort enhances the chances of converting high-value accounts in the market and helps maintain long-term relationships with these key accounts.

Characteristics of ABM Funnel

The ABM funnel focuses on quality over quantity when targeting market accounts. Instead of casting a wide net, it zeroes in on specific high-value targets in the market, which increases the likelihood of successful conversions.

A personalized approach characterizes ABM activities. Marketing and sales teams tailor their efforts to meet the unique needs of each account. This customization makes the engagement more relevant and effective.

Another hallmark of ABM is building long-term relationships with key market accounts. These market relationships are nurtured over time, leading to sustained business growth. Long-term engagement ensures continued value for both parties involved in the market.

Reducing Time and Cost with ABM

One of the primary goals of ABM is to reduce the time and cost of turning prospects into clients. However, ABM is not a linear process; it includes ongoing iteration to move prospects efficiently through the funnel.

Actionable Takeaways:

  • Iterative Approach: Continuously test, measure, and tweak your ABM strategies. Use A/B testing for emails, ads, and other touchpoints.
  • Targeted Messaging: Create hyper-personalized content that addresses each target account’s specific pain points and needs, reducing the time needed to engage them meaningfully.
  • Technology Utilization: Leverage CRM systems and marketing automation tools to manage and track engagements, ensuring nothing slips through the cracks and each contact is efficiently managed.

ABM vs Traditional Funnels

Importance of Traditional Marketing Methods

While digital marketing has taken center stage, traditional marketing methods like direct mail remain relevant and effective, especially personalized and unique outreach items. Shared successful direct mail campaign examples, even during the pandemic.

Actionable Takeaways:

  • Direct Mail Campaigns: Don’t overlook traditional methods. Create personalized, tangible items such as event invites, small gifts, or information kits tailored to the recipient’s needs and interests.
  • Integrated Marketing: Combine direct mail with digital touchpoints. For example, follow up a direct mail piece with a personalized email or social media message.
  • Track and Measure: Use tracking tools like personalized URLs (PURLs) or QR codes to measure your direct mail efforts’ effectiveness and engagement rate.

Targeted Approach

ABM funnels focus on high-value target accounts. Marketers select these accounts based on specific criteria, including the ideal customer profile and account value. This approach ensures that resources are used efficiently.

Traditional sales funnels, however, cast a wider net. They aim to attract many potential customers. This can lead to lower conversion rates. Precision in targeting is less critical in traditional funnels.

Personalization Strategies

Account-based marketing requires tailored content for each account. Personalized messaging captures decision-makers’ attention, and customized market experiences engage prospects more effectively.

In contrast, traditional funnels use generic content. The same message is sent to all potential customers in the market, which can result in less engagement and lower conversion rates.

Multi-Stakeholder Outreach

ABM involves a multi-channel approach to reaching various market stakeholders. Each stakeholder receives personalized communication, ensuring messages resonate with their market needs.

Consistent messaging across channels is crucial for maintaining a unified brand voice. Traditional funnels often lack this level of personalization and consistency.

Steps to Create an Effective ABM Funnel

Identify Target Accounts

Sales and marketing teams must collaborate to select target accounts. This ensures that both departments are aligned on priorities. Data and analytics play a crucial role in identifying high-potential accounts. These tools help pinpoint companies that are more likely to convert.

Aligning target accounts with business objectives is essential. It ensures that the selected accounts will contribute to the company’s growth. Successful sales funnels begin with well-chosen targets.

Engage Decision-Makers

Building relationships with key stakeholders is vital. Decision-makers need to trust your company before purchasing, and strategies like personalized emails and LinkedIn connections can gain their attention.

Understanding their pain points and needs is crucial. Tailor your approach based on these insights. Addressing their specific challenges makes your ABM marketing strategy more effective.

Personalize Content

Personalized content is essential in ABM campaigns. It shows that you understand each account’s unique needs. Tailored content can include case studies, whitepapers, and videos.

Different types of content can be created for specific accounts. For example:

  • Case studies that highlight relevant success stories

  • Whitepapers addressing industry-specific challenges

  • Videos demonstrating product benefits

Relevant and engaging content significantly impacts conversion rates. ABM demand generation funnel models rely heavily on this personalization.

Execute Coordinated Campaigns

Planning and executing coordinated marketing campaigns involves several steps:

  1. Define campaign goals.

  2. Develop a timeline.

  3. Assign roles and responsibilities.

  4. Create tailored content.

  5. Launch the campaign.

Timing and consistency are critical in campaign execution. Ensure all efforts are synchronized for maximum impact.

Alignment between marketing and sales efforts is necessary for success. Both teams should work together throughout the campaign to ensure consistency and effectiveness.

Identify High-Value Accounts

Develop Ideal Customer Profile

An ideal customer profile (ICP) is a detailed description of your business’s ideal customer. In account-based marketing (ABM), an ICP helps identify high-value accounts.

To define an ICP, consider industry, company size, and revenue factors. For example, a software company may target tech firms with over 500 employees and annual revenue exceeding $50 million.

Using ICPs guides account selection. This ensures that marketing efforts focus on accounts that offer the most potential value, increasing efficiency and effectiveness.

Research and Understand Accounts

Thorough research on target accounts is essential. It provides insights into their needs and challenges.

Methods for gathering insights include analyzing financial reports, studying industry trends, and monitoring social medias activity. Tools like LinkedIn and company websites are also valuable sources of information.

Understanding accounts allows for personalized marketing efforts. Tailored messages resonate more with potential clients, increasing engagement and conversion rates.

Prioritize Based on Potential

Prioritizing accounts based on their potential value is crucial. Not all accounts hold equal opportunities.

Factors to consider include account size, revenue potential, and strategic fit. For instance, larger companies with significant budgets may offer more substantial opportunities than smaller ones.

Focusing resources on high-potential accounts maximizes returns. It ensures that marketing efforts are directed where they can achieve the greatest impact.

Engaging Decision-Makers

Identify Key Stakeholders

Finding key decision-makers is crucial. Start by researching the target account’s organizational structure. Use LinkedIn and company websites to identify leaders.

Mapping the structure helps in understanding who influences purchase decisions. This includes executives, managers, and department heads.

Stakeholder identification ensures that engagement strategies are effective. It allows tailored communication to those who matter most.

Multi-Stakeholder Outreach

Engaging multiple stakeholders increases success chances. Each stakeholder has different interests and priorities.

Create personalized messages for each stakeholder group. Address their specific needs and concerns.

Use various channels like email, social media, and phone calls to ensure comprehensive coverage and better engagement.

Build Relationships

Building trust with stakeholders is vital. Trust can lead to smoother negotiations and faster decisions.

Nurture relationships over time through consistent communication. Share valuable content and updates relevant to their needs.

Strong relationships often result in higher conversion rates. They create a sense of loyalty and long-term partnerships.

Personalizing Marketing Content

Tailored Messaging

Customized messaging is essential for different stakeholders. Each decision-maker has unique needs and pain points, and addressing these specific issues increases engagement. For example, a CFO might care about cost savings, while a CTO focuses on technical benefits.

Relevant messaging can significantly impact conversion rates. Personalized marketing content speaks directly to the recipient’s concerns, building trust and encouraging action. Engaging messages leads to higher response rates and better customer experiences.

Utilizing Content Effectively in ABM

Content is the backbone of any successful marketing strategy, and ABM is no exception. However, often, content produced sits unused after its initial release. To make the most of your content assets, you need to architect touch points and messaging that lead to the strategic use of this content.

Actionable Takeaways:

  • Audit Existing Content: Regularly review your content library to identify pieces with high potential for reuse. Check metrics like engagement rates and relevance to current campaigns.
  • Repurpose Content: Turn existing content into different formats like infographics, short videos, or social media snippets. Highlight key stats and quotes to refresh and re-engage your audience.
  • Content Calendar: Develop a content calendar that aligns with your ABM strategy, ensuring consistent, repeated exposure to your targeted accounts.

Content Formats

Various content formats can be used in ABM campaigns. Blogs, whitepapers, videos, and webinars are common examples. Each format serves a different purpose and appeals to different audiences.

Choosing the right format is crucial for each stage of the funnel. Early stages may benefit from informative blog posts or infographics. Later stages might require detailed case studies or product demos. Diverse content keeps prospects engaged throughout their journey.

Interactive content also plays a key role. Quizzes, calculators, and assessments can capture attention and provide value. Dynamic content adjusts based on user interaction, making it more engaging.

Channel Selection

Selecting the right channels is vital for ABM campaigns. Different channels reach different segments of your target accounts. Email, social media, and direct mail are popular options.

Multi-channel strategies are effective in reaching target accounts. Combining email with social media ads ensures broader visibility. Influencer marketing can amplify your message further. Due to its effectiveness, the influencer marketing market has grown significantly.

Channel selection impacts campaign effectiveness. Using the wrong channel can waste resources and miss potential leads. Analyzing where your audience spends time helps in making informed decisions.

Technology and Tools for ABM

CRM systems and marketing automation tools play crucial roles in tracking multi-touch attribution and managing extensive account outreach. To be ready for ABM, companies should have at least 1500 target companies and 3-4 contacts per company.

Actionable Takeaways:

  • CRM Systems: Invest in robust CRM systems that track interactions across channels and provide a holistic view of each account’s engagement journey.
  • Marketing Automation: Utilize marketing automation tools to streamline repetitive tasks, allowing your team to focus on more strategic activities.
  • Data Analytics: Implement data analytics tools to continuously analyze the effectiveness of your touchpoints and campaigns, making data-driven adjustments in real time.

By implementing these strategies and following the actionable takeaways, you can create an effective Account-Based Marketing funnel that drives fast growth for your business. Remember, ABM is an iterative process, so continuously test, measure, and optimize your approach to achieve the best results.

Coordinated Campaign Execution

Align Sales and Marketing

For ABM success, sales and marketing teams must align their efforts. This alignment ensures that both teams work towards the same goals, and consistent communication is vital.

Teams should hold regular meetings to share updates and strategies. Joint planning sessions can also foster collaboration. This requires shared goals, executive support, and an effective service level agreement (SLA).

Alignment plays a crucial role in achieving ABM goals. Campaigns are more effective when sales and marketing are on the same page. This unity leads to better customer engagement and higher conversion rates.

Actionable Takeaways:

  • Unified Goals: Organize regular meetings between sales and marketing teams to develop and maintain aligned goals and KPIs[1].
  • Executive Sponsorship: Secure the commitment of executive leadership to underscore the importance of ABM strategy and facilitate resource allocation[1].
  • Service Level Agreements (SLAs): Develop SLAs that define specific roles, responsibilities, and expectations for both teams to ensure seamless collaboration and accountability[1].

Executive Sponsorship and ABM Readiness

Having an executive sponsor for ABM is significant. Readiness involves targeting at least 1500 companies and multiple contacts within each account.

Actionable Takeaways:

  • Executive Buy-In: Ensure your ABM strategy has the backing of an executive sponsor who can provide the necessary resources and visibility.
  • Scalability: To maximize the effectiveness of your ABM efforts, make sure you have a substantial target list (at least 1500 companies) and multiple contacts within each to ensure a high level of scalability.
  • Readiness Checklist: Develop an ABM readiness checklist covering resources, personnel, target account lists, and technology to ensure you’re fully prepared to launch an ABM campaign.

Effective Team Approach

ABM requires a team approach, including considering turnover and customer success involvement.

Actionable Takeaways:

  • Cross-Functional Teams: Build cross-functional teams that include marketing, sales, customer success, and even product teams to provide a holistic approach to each account.
  • Account Plans: Create detailed account plans that outline each team member’s roles and responsibilities, ensuring everyone knows their part in nurturing accounts.
  • Turnover Management: Develop processes to handle turnover effectively, such as comprehensive documentation and training sessions to keep new team members up to speed.

Campaign Planning

Planning an ABM campaign involves several steps. First, set clear objectives. Know what you want to achieve with the campaign.

Next, define key performance indicators (KPIs). KPIs help measure the success of your efforts. Examples include lead generation, conversion rates, and revenue growth.

Detailed planning is essential for success. Create a timeline for each phase of the campaign. Assign specific tasks to team members. Ensure everyone knows their responsibilities.

Outbound Email Marketing and Compliance

Implementing effective outbound email marketing while ensuring compliance and careful audience segmentation is crucial.

Actionable Takeaways:

  • Compliance First: Ensure your outbound email marketing efforts comply with laws like GDPR or CAN-SPAM. This involves obtaining necessary consent and providing opt-out options.
  • Segmentation: Segment your contact lists meticulously to ensure that your emails reach the right audience with relevant content. Use CRM data to understand and categorize your prospects.
  • Personalization: Use marketing automation tools to personalize emails at scale, addressing recipients by name and referencing their interests or pain points.

Implementation Steps

Implementing an ABM campaign requires careful coordination. Start by identifying target accounts. Use data to select accounts most likely to convert.

Develop personalized content for these accounts. Tailor messages to address their specific needs and pain points.

Execution is key to a successful campaign. Launch coordinated efforts across multiple channels and monitor each channel’s performance closely.

Adjust strategies as needed based on real-time data. Regularly review KPIs to ensure the campaign stays on track.

Measuring Success in ABM Funnel

Key Metrics to Track

Tracking key metrics is crucial in Account-Based Marketing (ABM) campaigns. It helps measure progress and success. Success metrics include marketing and sales alignment, touches, sales velocity, and quality connections. Continuously measuring touches and channels in a multi-touch attribution model is crucial.

Engagement metrics show how target accounts interact with your content. This includes clicks, downloads, and time spent on pages.

Conversion rates are another vital metric. They indicate how many engaged accounts become leads or customers. Higher conversion rates mean your campaign is effective.

Return on Investment (ROI) measures the financial return from your ABM efforts. A positive ROI means the campaign is profitable. Data plays a significant role in optimizing ABM strategies. By analyzing these metrics, you can refine your approach for better results.

Analyzing Campaign Performance

Analyzing ABM campaign performance involves examining data to understand what works and what doesn’t. Look at engagement, conversion rates, and ROI to identify strengths and weaknesses.

Use data to pinpoint areas for improvement. For example, if engagement is high but conversion rates are low, there may be an issue with your messaging or offer.

Continuous improvement is essential for ABM success. Review and analyze performance data regularly, making adjustments based on insights gained from the data. This helps ensure that your campaign remains effective over time.

Fractional Marketing Solutions for Mid-Market Companies

Mid-market companies often struggle to afford senior-level marketing personnel. Fractional marketing solutions offer a transformative approach.

Actionable Takeaways:

  • Fractional CMOs: Consider hiring a fractional CMO for strategic oversight without the full-time cost. These professionals can bring senior-level expertise on a part-time basis.
  • Specialized Agencies: Engage specialized marketing agencies that offer fractional services, ensuring you get the benefits of experienced strategists without the financial burden of full-time hires.
  • Cost-Benefit Analysis: Conduct a cost-benefit analysis to ascertain the ROI of fractional marketing services against potential revenue generated from more strategic and effective marketing campaigns.

Optimize for Better Results

Ongoing optimization is critical in ABM campaigns. It involves refining targeting, messaging, and tactics to improve results.

Start by reviewing your target account list. Ensure it includes accounts that fit your ideal customer profile. Adjust the list as needed based on new information.

Next, refine your messaging. Make sure it resonates with your target audience, and test different messages to see which ones perform best.

Finally, adjust your tactics. Try different channels and approaches to see what works best for each account. Optimization helps achieve better results by continuously improving your strategy.

Actionable Takeaways:

  • Touchpoint Tracking: Track all interactions with target accounts across various channels. Use multi-touch attribution models to assess the influence of each touchpoint on the buyer’s journey.
  • Velocity Metrics: Measure the time it takes for a prospect to move from one stage of the funnel to the next. Identify bottlenecks and optimize processes to accelerate the sales cycle.
  • Quality Over Quantity: Focus on the quality of engagements rather than sheer numbers. Monitor metrics like engagement depth and relevance of interactions to ensure meaningful connections.

Closing Thoughts

You now have the tools to create a powerful Account-Based Marketing funnel. Focusing on high-value accounts and personalizing your marketing can drive meaningful engagement with decision-makers. Coordinated campaigns and precise measurements will ensure your efforts pay off.

Ready to transform your marketing strategy? Start implementing these steps today and see how ABM can elevate your business. Don’t wait—take action and watch your targeted approach yield impressive results.

Frequently Asked Questions

What is an (Account-Based Marketing) ABM Funnel?

An Account-Based Marketing (ABM) Funnel targets specific high-value accounts rather than a broad audience. It aligns marketing and sales efforts to engage key decision-makers within these accounts.

How does ABM differ from traditional marketing funnels?

ABM targets specific high-value accounts, while traditional funnels aim at a broader audience. ABM involves personalized content and coordinated campaigns, making it more focused and efficient.

What are the key steps to create an effective account based marketing funnel?

Key steps include identifying high-value accounts, engaging decision-makers, personalizing marketing content, executing coordinated campaigns, and measuring success.

Why is identifying high-value accounts crucial in ABM?

Identifying high-value accounts ensures that resources are focused on prospects with the highest revenue potential, improving ROI and efficiency.

How can you effectively engage decision-makers in ABM?

Engage decision-makers by understanding their pain points, offering tailored solutions, and using personalized communication methods like emails and social media interactions.

What role does personalized marketing content play in ABM?

Personalized content addresses each account’s specific needs and challenges, making your message more relevant and increasing engagement and conversion rates.

How do you measure success in an ABM funnel?

Measure success using metrics like account engagement, pipeline velocity, deal size, and revenue growth. These indicators help assess the effectiveness of your ABM strategi

Some topics we discussed include:

  • How best to determine how accounts flow through the marketing and sales funnel
  • What is an ABM funnel and what does it look like
  • Key characteristics of an ABM funnel and why use it
  • Metrics for ABM funnels
  • Defining the stages of the new ABM funnel
  • The funnel differences between a sales funnel and an ABM funnel
  • Ways in which you can get a fractional CMO and team to help get you underway and scale-up
  • and much much more ….

Listen to the episode

Connect with Sheila

Subscribe to & Review the Predictable B2B Success Podcast

Thanks for tuning into this week’s episode of the Predictable B2B Podcast! If the information in our interviews has helped you in your business journey, please head over to Apple Podcasts, subscribe to the show, and leave us an honest review.

Your reviews and feedback will not only help me continue to deliver great, helpful content, but it will also help reach even more amazing founders and executives just like you!

Author

  • Vinay Koshy

    Vinay Koshy is the Founder at Sproutworth who helps businesses expand their influence and sales through empathetic content that converts.

    View all posts
Category: