Recently, HubSpot launched Account Based Marketing Tools. We’re excited to share these new tools with our clients because they fit seamlessly into how manufacturers connect directly with their best-fit, highest-value accounts. At Felber PR & Marketing, we have been utilizing an Account Based Marketing strategy to target prospects for years. We’ve helped our clients ditch old, time-intensive tactics such as cold calling prospects; prospects that are just not ready to buy are a huge time waste for sales teams. As a manufacturer, you know the sales need to be nurtured. Sales cycles are often measured in months and even years.
By utilizing the new account based marketing tools, your marketing and sales teams align, and greater focus is placed on engaging with prospects and customers. Below, learn what account based marketing is, and how HubSpot’s new tools can help your manufacturing company sell smarter, not harder.
What is Account Based Marketing?
Account-based Marketing (ABM) is a growth strategy in which Marketing and Sales teams collaborate to create personalized buying experiences for a mutually-identified set of high-value accounts. By establishing the same goal, an agreed-upon revenue goal, teams develop their own paths and tactics to ultimately arrive at the same result – more revenue.
Why Manufacturers Should Utilize Account Based Marketing
ABM boosts the marketing and sales process by allowing you to weed out less-engaged companies early on and ensure that marketing and sales teams are working on the most valuable prospects. As a result, your marketing and sales teams can better engage and build relationships with companies that are more likely to buy quicker and more efficiently. ABM helps you to personalize the buyer’s journey and tailor content, email campaigns and messaging by identifying the buyer’s motivations, goals, and habits through monitoring real-time data and engagement patterns. By utilizing an ABM strategy, manufacturers can expect to see an enhanced return-on-investment from marketing and sales strategies and greater customer loyalty.
How to Get Started with Account-Based Marketing Tools in HubSpot
● Develop Your Ideal Customer Profile (ICP)
For those who have used HubSpot or an inbound marketing strategy for a while, these are similar to buyer personas, however, you build these around entire companies rather than individuals. Your ideal customer profile should include information regarding revenue, industry, location, and the size of the companies you’d like to target. HubSpot’s ABM software has an ICP-driven workflow (automated email) templates to help you identify common traits and classify companies in your database by how well they match the ICP you have developed.
● Set Up Target Accounts
Once your ICP has been established, you will be able to set up target accounts in the ABM software. By tagging “Target Accounts” in your HubSpot platform, you can manage your audience from your new Target Accounts Dashboard. In the ABM software, once you’ve tagged an account as a “Target Account”, you will be able to rank them with an ICP Tier Property (Tier 1 for high priority to Tier 3 for lower priority accounts). The ABM software utilizes artificial intelligence target account recommendations which help manufacturers automate the researching process of finding good fit companies.
These types of tools will help you manage and then segment your lists so you can deliver personalized content to your target accounts. Once your ABM tools are activated, your HubSpot account automatically creates contact lists based on ABM contact and company properties from your existing database.
● Create a Clear Plan for All Accounts
It is essential that there is a team put in place from both the marketing department and/or your marketing agency, and sales departments to make ABM effective. That way, your marketing team can develop a more personalized experience that reflects the same value propositions that your salespeople are using in their meetings, and that will put systems in place to close the deal quicker.
Interested in discussing how Account Based Marketing can help streamline your manufacturing sales strategy? At Felber PR & Marketing, we are a proud HubSpot partner agency and help our clients sell smarter not harder by utilizing account based marketing strategy and real-time data and analytics through HubSpot.