Do you know why the fastest way to reach a voice mail on Telemarketing is to call from a weak brand? The answer to this question is at the heart of Account-Based Advertising.
How you market your business determines if you will be successful or not. A solid brand can create and maintain demand, give you the power to set your price, outrun your competition and more. Imagine a weak brand and the next thing you see is a business likely to close down due to lack of sales.
So why is Account-Based Advertising (ABA) so important as an accelerator for brand creation? After all, B2B buyers are extremely risk-averse and prone to defensive decision making so if you need reasons to consider ABA, check out these 7 arguments why you really do need it.
1. Account-based advertising is an effective way of engaging customers
It’s important for your business to engage its customers and Account-Based Advertising is a channel to foster this dialogue.
Building a successful campaign is different from pushing a transactional offers-driven campaign. It’s all about creating top-of-mind recognition. Let your customers be interested in you when the right time comes.
Media has always been one of the best places to be as all of us consume digital media during working hours. By engaging your customers when they read the news on the topics they care, ABA gives them a sense of belonging.
As an example, if you sell Software Security solutions and your banner appears in articles talking about ransomware, or the costs of malware vulnerability, not only you build your brand when the banner is seen but you also give a strong context to your solution by positioning next to the problem you solve.
2. A strong brand helps to boosts sales
Once a Brand is recognized, it’s already on the radar and this increases your chances of selling it.
Put it simply: you’ll never make it to the short-list of preferred solutions of your potential customers ignore you.
That’s why at least 50 per cent of marketing activities should be geared towards building the right brand equity of the company.
3. It can help you beat your business rivals
Your competitor is actively marketing their products, doesn’t this tell you why is marketing important? The only way to gain a competitive advantage over your competition is by more accurately targeting your customers so you can tell better your story.
The growth of your business is positively correlated to your brand’s reputation. Companies whose Share of Voice is higher than the Market Share, tend to grow. Companies that do not invest in Share of Voice tend to lose market share. It is that simple, Period.
4. Account-based advertising builds bridges between a business and its customers
Businesses need to build a relationship of trust and understanding with their customers. How does ABA establish this relationship?
By being able to target just the companies to whom you want to reach and communication with both the known and unknown decision-makers, companies can achieve great results by gaining trust.
And because of the level of precision in the targeting, you can virtually craft a communication piece specific to the needs of each customer. There’s strong competition in the market and you need to be a constant voice to convince the customers. In a hyper-competitive market place, only fools compete on price.
Through communication, ABA helps your business become a market leader.
In practical terms, you would want to cluster pieces of communication together ( ie. Show product B if they bought A, or show RENEWAL benefits if they are ending the contract of product X)
5. ABA provides insights to your business
Every marketer understands the need for targeting the right audience. However, when B2B visitors come anonymously to your content, it is difficult to know if your story is being told the right way.
Here is where most ABA solutions can complement the targeting abilities with solutions that tell you what content is being consumed so you can see what’s relevant to each customer.
Once you have collected the information on what messaging and content is relevant to your target audience, you have a gold mine of intelligence to leverage with sales. It provides the insight needed to make you avoid guesswork.
6. Creates Revenue Options
As your marketing strategies generate more customers and revenue opportunities, you’ll begin having options to cross-sell and up-sell. Having these options is arguably the best “problem” you would want to handle.
But a foot in the door is not guaranteed to penetrate new markets. Without the right communication, you will be forced to continue working with clients who you have outgrown and will be unable to fulfil all of their potentials.
7. ABA Helps Your Business to Maintain Relevance
Every marketer understands the need for disrupting a potential consumer’s opinion about other products. You need to turn the non-buyers into Customers but you can only succeed if you shake the status-quo.
You need to find ways to remain at the top of the client’s mind. Do not forget that as you read these lines your competitors are right now trying to talk to your customers. Every relationship needs to be maintained. By making your content available as banners in media, ABA helps your business to remain relevant.
Don’t just focus on gaining new customers before addressing the need to retain the present ones.
Here B2B advertising can play an essential role by running an always-on campaign on the background of all the other marketing activities.
These 7 bullet points illustrate different areas where Account-Based Advertising can be effective. If you are interested in learning more facts on the value of brand building and the ways ABA can help you achieve your marketing goals, do reach out to us here.