Getting Started with Account-Based Marketing (ABM) using HubSpot

In the ever-evolving landscape of marketing, Account-Based Marketing (ABM) has emerged as a the strategy du jour for B2B marketing and sales teams to achieve their goals. This article will guide you through the process of implementing ABM using HubSpot, a leading platform for marketing automation.

What is Account-Based Marketing (ABM)?

The Growth Strategy Behind ABM

ABM is a growth strategy where marketing and sales collaborate to create personalized buying experiences for a select group of high-value companies. In this approach, instead of casting a wide net to attract a large audience, businesses focus on specific accounts, providing them with tailor-made marketing experiences that resonate with their unique needs and preferences.

It's important to note that while any strategy that helps to better align resources with outcomes is worthwhile to pursue, ABM is a cure-all for growth. And it's abundantly critical to define ABM for yourself and your organization before making any decisions and who you'll target or how.

The Benefits of ABM

The benefits of ABM are numerous. By focusing on high-value prospects, businesses can increase their marketing efficiency, drive more revenue, and build stronger relationships with their customers.

Implementing ABM with HubSpot

Securing Organizational ABM Alignment

One of the first steps in implementing ABM is to secure organizational alignment. This means getting all internal stakeholders on board with your ABM strategy. This alignment is crucial as it ensures that all team members are working towards the same objectives, ultimately driving better results.

And, really, if ABM is anything, it's an alignment strategy. If you don't start there...

Automating ABM with HubSpot's Tools

Creating an ABM Workflow

HubSpot provides a comprehensive suite of ABM tools that you can leverage to automate your ABM efforts. In your HubSpot account, you can create an ABM workflow by navigating to Automation > Workflows. This feature allows you to automate various processes, making your ABM strategy more efficient and effective.

Account Mapping and Identifying Key Decision Makers

Account mapping is another essential step in the ABM process. This involves identifying key decision-makers and influencers within the target accounts. Understanding the organizational structure and decision-making processes within these accounts can help you tailor your marketing strategies more effectively.

Keep in mind, there are a LOT of great ways to identify great accounts and contacts. While we're fans of lighting up the dark funnel with data from intent data providers, ABM often times is packaged with intent data and that can often skew the focus of your efforts away from what you know would work for your team.

You might find that there are a lot of other ways to more accurately and sustainably identify your best accounts and contacts than intent data. Or, more likely, that intent data, when combined with unique data on your market, is an unfair advantage for your revenue org.

Activating ABM Tools in HubSpot

The Steps to Activate ABM Tools

To activate your ABM tools in HubSpot, navigate to Contacts > Target Accounts. Click 'Get started' to initiate the activation process. Please note that this feature is only available to Super admins and users with Account access permission.

ABM Advertising and Content Syndication with HubSpot

HubSpot also offers tools for ABM advertising and content syndication. These tools can help you accelerate your accounts' customer journey, gain insights about campaign performance, and offer a formatted content marketing package.

Utilizing Marketing Emails in Your ABM Strategy

Email marketing plays a crucial role in ABM strategies. With HubSpot, you can leverage marketing emails to communicate with contacts who have given your brand verifiable permission. This strategy aligns with the principles of inbound marketing and can be highly effective in engaging prospects and driving conversions.

That said, a strong, highly personalized email cadence is also viable in reaching "cold" prospects.

Measuring the Success of your ABM Strategy

Outcome-Based Sales Metrics

Finally, it's essential to measure the success of your ABM strategy. With HubSpot, you can track outcome-based sales metrics, including the rate of accounts accepted, pipeline created, and revenue generated. These metrics can provide valuable insights into the effectiveness of your ABM efforts and guide future improvements.

Marketing is nothing if not a game of trying, measuring, and doing a little better the next time.

Conclusion

Implementing Account-Based Marketing (ABM) with HubSpot can bring about a significant shift in your marketing strategy. By focusing on high-value accounts and offering personalized experiences, you can increase your marketing efficiency and drive greater revenue. With HubSpot's comprehensive suite of ABM tools, you can automate your processes, engage with your prospects effectively, and measure your strategy's success.

FAQs

1. What is Account-Based Marketing (ABM)? ABM is a growth strategy where marketing and sales collaborate to create personalized buying experiences for a select group of high-value companies.

2. How can I create an ABM workflow in HubSpot? In your HubSpot account, navigate to Automation > Workflows. From there, you can create an ABM workflow.

3. What are the steps to activate ABM tools in HubSpot? To activate your ABM tools in HubSpot, navigate to Contacts > Target Accounts and click 'Get started'.

4. How can I use marketing emails in my ABM strategy? With HubSpot, you can leverage marketing emails to communicate with contacts who have given your brand verifiable permission.

5. What metrics can I track to measure the success of my ABM strategy? You can track outcome-based sales metrics, including the rate of accounts accepted, pipeline created, and revenue generated.

6. How much of my marketing budget should I allocate to ABM? Research suggests that businesses generally allocate about 15% of their marketing budget to ABM. However, this can vary based on your company's specific needs and goals.

7. How do I identify my target accounts for ABM? Before starting your ABM campaign, identify the key accounts you'll target. These should ideally be high-value accounts that are a good fit for your product or service.

8. How do I build my ABM target list? You can use tools like BatchGeo to create an ABM target list using proximity to existing customers. This involves exporting a CSV spreadsheet from your CRM/ERP system that includes existing customers and prospects.

9. How do sales and marketing teams collaborate in an ABM strategy? In a successful ABM program, the marketing and sales teams work together to create highly relevant messages. They also collaborate to create a feedback loop, which helps inform marketers about the most suitable activation collateral.