3 min read | May 16, 2023
In the world of fintech, where buying cycles typically span between 6 and 12 months, it comes as no surprise that account-based marketing (ABM) has become a widely embraced strategy for marketers. ABM enables businesses to forge stronger relationships with prospects and maintain a prominent presence in their minds.
Unlike traditional marketing approaches that target a broad audience, ABM hones in on specific high-value accounts, allowing for tailored sales and marketing efforts that address their unique challenges.
One of the significant advantages offered by ABM is enhanced efficiency. By focusing on high-value accounts, fintech businesses can utilize ABM to allocate their resources toward accounts that are most likely to convert, resulting in a more efficient utilization of marketing budget and resources.
If you haven't incorporated ABM into your marketing arsenal just yet, fear not—it doesn't have to be an intimidating endeavor. Here's a step-by-step guide to help you get started:
Take a look at your existing client roster and consider factors such as industry, company size, job titles, and other key criteria that are most relevant to your product or service. Keep in mind that you may end up with multiple customer profiles, each with its own pain points and unique messaging.
Based on your ideal clients, create a list of prospects that closely resemble them. You can achieve this by leveraging tools such as LinkedIn Sales Navigator, conducting online desk research, utilizing third-party data, or identifying individuals who have already shown interest in your website or profiles and match your ideal customer profile. It's important to be realistic and manageable with the number of accounts you target at once, so consider breaking down your list into batches and refine your process along the way.
Determine the messages you will use and the assets required during the nurturing process. Consider tactics such as personalized thought leadership pieces that directly address decision-makers, case studies showcasing the impact you've had on similar accounts, direct-mail campaigns, email marketing with a human touch rather than a purely platform-driven approach, targeted LinkedIn ads, and round-table discussions tailored to the needs of specific groups of businesses or individuals.
As with any marketing effort, it's crucial to measure the effectiveness of your ABM strategy and optimize it as needed. Track engagement rates, conversion rates, revenue, and other key metrics to ensure that your marketing endeavors are driving the desired results.
Overall, getting started with ABM requires a keen understanding of the unique challenges faced by target accounts and the ability to tailor marketing efforts to meet those specific needs. By following these steps and continually optimizing your efforts over time, fintech businesses can achieve superior marketing outcomes and cultivate stronger relationships with their target customers.
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