ABM, or Account-Based Marketing, has gained a lot of traction among B2B companies eager to boost their marketing ROI. By focusing on high-value accounts, ABM allows companies to deliver a tailored customer experience and close deals more quickly.
But let’s be clear: ABM isn’t a magic wand. It won’t solve all your marketing challenges overnight. You might even jump on the ABM bandwagon and find yourself wondering, “Did I just fall for another marketing buzzword? Is this just a passing fad?”
The answer is no—when done right, ABM can be a game-changer for your business.
In this blog, I’ll walk you through the common mistakes companies make in ABM—mistakes I’ve personally seen and learned from over the years.
1. Overlooking Comprehensive Research
One of the biggest mistakes you can make in ABM is skipping the research part. You need to really understand who you’re going to target before launching any campaign.
So, how do you start? By creating an Ideal Customer Profile, or ICP. Look at your best-performing clients—what do they have in common? Are there any trends or specific traits that make them a great fit for your product? Think about this carefully, especially if you’re planning to introduce new features or expand your business soon.
Your ICP is basically your roadmap. It helps you focus on the accounts you should be targeting and even lets you know which ones might not be a good fit. Sometimes, you’ll discover accounts that are perfect for you but have gone unnoticed simply because they’re not big names in the industry.
Lastly, don’t forget to double-check your list. You can use third-party data to make sure the accounts you’ve chosen are actually interested in what you’re offering. Companies like Bombora provide “intent data” that can show you which accounts are actively looking for solutions like yours. This extra step can make your sales team’s job a lot easier and more effective.
2.Over-Dependence on Fixed Target Account Lists
So you’ve picked your target account list and you’re all set for the year. But then, something unexpected happens—your pipeline starts to dry up. Why? Because you’ve stuck to the same list of accounts all year long, without making any updates.
Here’s the thing: your target list isn’t set in stone. Businesses change, and so should your focus. Sticking to the same list can mean you’ll miss out on new opportunities while overloading the accounts that aren’t ready to buy.
What’s the solution? Keep an eye on the metrics. Mix in some traditional lead generation tactics and keep tabs on how engaged your target accounts are. If you see an account showing a lot of interest, give it more attention. On the flip side, if an account isn’t engaging, it might be a good idea to set it aside for later review, maybe next quarter.
And yes, third-party data can be your best friend here. Intent data from companies like Bombora can help you keep your account list up-to-date and flexible. This ensures you’re always focused on accounts that are genuinely interested in what you’re offering.
3. Ignoring the Importance of Aligning with Sales on Target Accounts
You know the saying, “Two heads are better than one”? Well, that’s especially true when it comes to ABM. It’s not a good idea to blindly follow a list provided by the sales team, but it’s also not wise to push your own list on them without their input.
Instead, make friends with your sales team. Work together to build your Ideal Customer Profile and target account list. Trust me, their firsthand experience in the market can be invaluable. Plus, when you put in the effort to collaborate, they’ll notice.
Getting the sales team on board can be tricky. One approach that’s worked for me is to run a small ABM pilot program. Pick a specific segment from the sales team’s existing list and go all in. Once they see how effective your targeted efforts can be, it’s a lot easier to get their buy-in for bigger initiatives. It’s all about building trust, and once you have that, you can start to explore new opportunities together.
4. Assigning Uniform Attention and Content to All Target Accounts
You can’t treat all your target accounts the same way; it’s like expecting one pair of shoes to fit everyone. Each account is different and needs a tailored approach, depending on how engaged they are and how much they could potentially bring to your business.
So, let’s break it down a bit:
– Programmatic ABM: Think of this as your basic level. You use broad ads and general landing pages aimed at specific industries or regions. This is where most of your target accounts will probably fall.
– ABM Lite: Step it up a notch. Here you get a bit more personalized, using things like dynamic landing pages or targeted mail campaigns. This is for accounts that are a bit more engaged and that you think have some good potential.
– 1-1 ABM: This is the big leagues. You’re pulling out all the stops—personalized portals, chat support, custom emails, even gifts. This level is for those high-value accounts you really don’t want to lose.
But hold on, don’t get carried away. Always weigh the costs against the benefits. Ask yourself, is the money you’re putting into each account likely to give you a good return? If not, you might need to rethink your strategy.
5. Neglecting Contacts While Prioritizing Accounts
Let’s get real—businesses don’t make purchases, people do. So while it’s great to target high-value accounts, let’s not forget about the actual humans at these companies. Usually, you’ll need to charm not just one person, but a whole group of decision-makers to seal the deal. We’re talking about at least eight people on average!
Here’s the catch: If your ABM campaigns are just focused on account data and trends, you’re missing a huge part of the puzzle—the real people you need to talk to. And trust me, there could be a lot of them.
So, make sure the ABM data you’re digging into is more than just a bunch of numbers. It should help you find real contacts you can reach out to and, eventually, win over the entire buying committee.
6. Neglecting Personalization
Let’s be clear, ABM isn’t a “set it and forget it” kind of deal. Buying a shiny new ABM platform won’t do much if you’re not ready to roll up your sleeves. It’s all about crafting strategies and content that speak directly to your targeted accounts.
The heart of ABM is engaging your chosen accounts in a way that feels like a personal chat over coffee, not a sales pitch. Avoid going on about general industry woes or tooting your own horn too much.
Every touchpoint, whether it’s an email, social media post, ad, or webpage, should feel like it was crafted just for them. It should address their specific challenges and where they are in their buying journey.
The good news? If you’ve steered clear of the mistakes we’ve talked about so far, you’re in a pretty good position to nail this personalization thing.
For example, going beyond a friendly “Hi {FirstName}” to create account-specific pages and content can be a game changer. Sure, it needs a good chunk of investment, but if you’ve got your priority list sorted, it’s well worth it.
Deep-dive research and intent data are your pals here. They help you understand what your accounts are curious about, letting you tailor your content to what matters to them, right now. Using their language and addressing their immediate concerns makes your content feel like a warm, personalized chat rather than a cold, generic pitch.
7. Considering ABM as a Quick Fix Strategy
Let’s face it, grabbing people’s attention these days is like trying to catch smoke with your bare hands. We’re all drowning in a sea of information. So even with a solid multi-channel ABM strategy, cutting through the noise is going to need some elbow grease.
Sure, you’re whipping up content that’s personalized and spot-on, but don’t expect to see magic happen overnight. Especially if you’re offering complex solutions to big companies (where ABM shines brightest), you won’t see folks making snap decisions. Catching a company’s eye doesn’t mean you’ll zoom through the sales process.
Think of ABM as a marathon, not a sprint. It calls for well-thought-out planning, some deep digging, and a good amount of sweat equity. You’ll need to figure out who your dream accounts are, which channels to tap into, and how to serve up the right content to the right account. Chances are, you’ll also need to get cozy with some new tech tools.
Yes, the leads you get will be worth their weight in gold, but they might trickle in, especially at the beginning. If that’s going to ruffle some feathers (yours or your bosses’), you might jump to conclusions and write off ABM too soon. It’s key to ensure everyone’s geared up for a long ride and clear on what to expect. Meanwhile, don’t put all your eggs in the ABM basket. Run it alongside your other demand-generating plays.
8. Monitoring Inappropriate Metrics
Measuring your ABM campaigns with the same yardstick as your regular marketing efforts can lead you down a rabbit hole. ABM isn’t about instant gratification, so the usual suspects like clicks and conversions might not tell the whole story.
We need a more ABM-friendly way to track how we’re doing. The key performance indicators (KPIs) you focus on should match the phase your campaign is in. For example, in the early days, it’s all about how engaged your target accounts are, both in terms of quantity and quality. As things progress, shift your gaze towards how many of those accounts are actually turning into customers.
You can then stack this up against your other marketing campaigns to see the bigger picture. And hey, don’t shy away from trying new things to keep getting better. Of course, this whole shebang needs a system to grab and analyze the right data from every corner of your company.
Final Thoughts
Embarking on an account-based marketing journey may have its twists and turns, but it’s your ticket to unlocking valuable accounts that might have stayed off the radar otherwise.
By steering clear of the usual hiccups, zoning in on accounts that are showing real interest, and knitting your strategy snugly across all teams, you’re setting the stage for campaigns that hit the mark.
