Traditional display ads target broad audiences, typically resulting in click-through rates around 0.06 percent, which isn’t optimal. It’s no surprise that the more targeted an account-based advertising campaign is, the more effective the results.
How much more effective?
According to an ITSMA survey, almost 85 percent of marketers measuring ROI say that ABM outperforms other marketing investments.
How can a smaller audience generate better leads? Shouldn’t casting a net out to hundreds of companies return a better investment? Not necessarily.
What is Account-Based Advertising?
Account-based advertising is a method of advertising that uses digital ad campaigns to target highly-specific accounts with the most potential for revenue.
How can businesses effectively target ads?
To begin creating targeted ads, first, they need to be personalized. Personalization is one of the key factors in completing a successful ABM campaign. Personalization requires knowledge of the industry, market, and individuals within those targeted accounts. Instead of delivering content solely focused on demographics or behavior, account-based advertisers should divulge their focus on providing content relevant to a company’s circumstances and firmographics.
With this strategy comes higher risks, considering advertisers will have to shift their focus to a smaller audience. Advertisers must have confidence the content they’ve chosen will provide value to the accounts they’ve decided to target. With such risks, what is the reward?
How Account-Based Advertising is Beneficial to your Business
There are many benefits to using account-based advertising. One is that it is an enthusiastic approach to targeted display advertising by reaching an entire buying committee, including contacts that haven’t visited your website and are not currently in your CRM.
Usual forms of advertising, including website retargeting, Google Ads, and CRM retargeting are considered reactive, meaning they are reactions to people who have searched for specific keywords or visited your site. While these methods still provide value, they ignore a large segment of the targeted audience and leave businesses with very little control over their prospects.
By taking a more proactive approach, advertisers can identify which buyer personas they need and which need to be targeted for direct engagement.
Sales & Marketing are Aligned
As previously mentioned, account-based advertising will also coalesce your sales strategy into your marketing department. This, in turn, is beneficial because both departments will focus their attention on account acquisition, simplifying messaging coordination, qualification standards, and reporting techniques.
Account-based advertising allows businesses to engage the hard-to-reach stakeholders who have no incentive to ingest your content or visit your site. If advertisers remain proactive, it will enable them to decide which specific accounts they would like to engage.
Now that there is a basis for how beneficial account-based advertisement can be to a company, the next step is to figure out which methods can be used to target ads to specific accounts.
IP Targetings: Targeting specific IP addresses was one of the earliest methods used by account-based marketing advertisers. Thanks to IP-based technology, companies can target particular accounts and close big deals more quickly and delivering targeted content in a timely fashion.
Onboarding offline databases: Some companies have begun using a method where they start with large B2B databases and match them through to various data providers. Companies can begin with a targeted list of individuals and narrow it down depending on criteria. This does create an issue where companies would then be limited to the data their provider has available.
Some providers have started including IP targeting to increase the limited scale of reach. However, this means some of the more precise targeting options are lost.
Targeting social media profiles: Nowadays, there are marketing tactics that require expensive technology to be successful. For those using account-based advertisement, however, there are numerous amounts of social media tools that can assist.
LinkedIn, for example, is a social platform that has made it increasingly easier for companies to run account targeted ads. LinkedIn has an account target feature designed specifically for companies shifting their focus to account-based marketing. This feature allows companies to send LinkedIn a list of targeted accounts, and it will match this list to its database of companies to create a specific account segment for targeting.
Make the Most of your Strategy
Prioritizing the quality of exposure over lead quality is what separates account-based advertising from other types of advertising. Account-based marketing is the future of personalized marketing. With an increased focus on how we advertise products to the world and a larger pool of data available through various channels, advertising will continue to become more personal.
Following the steps about will guide your company towards making the most of any account-based advertising campaign.