Account-based marketing allows you to hone in on the needs of each client and tailor campaigns specific to their interests. With this method, you can measure the effectiveness of targets across various advertising mediums and gain access to additional insights you otherwise might not have.
Account-based marketing is also called key account marketing. For a marketing firm (like Charley Grey), teams work together to identify accounts that fit their wheelhouse of skills and then work to turn them into clients. The approach focuses on which accounts bring in the most revenue and go after high-value customers rather than nickels and dimes.
How Effective Is Account-Based Marketing?
Account-based marketing has a high return on investment (ROI). Approximately 85% of marketing professionals measuring ROI say this type of marketing has the highest returns of any method.
The ability to target the value of each client helps marketing agencies and other professionals see where they spend their time and what the results are. Here are some things to help you utilize an account-based marketing approach and improve your bottom line without increasing your workload significantly.
1. Take Stock of Clients
Every six months to a year, do an audit of your client list. Create a worksheet and list out items such as how many hours you spend with the business, what they pay, how much effort you put in, and whether you’re giving the owner the results they want.
You should also take note of any difficult people. A person who calls you every other day and demands a lot of your time might not bring in as much revenue per hour as you’d like to make. If you can make more working in fast food, then it might be time to set that customer free.
2. Automate Responses
When you have a standard approach toward all your clients, there are some basic tasks you can easily automate. If you find they have the same questions, you can program a chatbot to answer those and free up your time to sort through your leads.
Research indicates most businesses have a variety of chatbot deployments to meet the needs of different departments. Assess where you spend your time and what can be automated to free up more time for account-based marketing and going after big fish clients.
3. Identify High-Value Targets
What accounts do you currently have that offer the best potential for a higher value? Look to your clients who’ve already grown from your efforts. Is there additional room in their budgets? How can you ramp up their success so it filters on to you?
You also should spend time looking at potential clientele meeting your targets. Set some standards on ad budgets, the size of the company, and growth patterns.
If you spend most of your energy acquiring people who will spend more on marketing, your own agency will grow.
4. Discover Pain Points
Talk to your customers about their pain points. Every account you serve has a different need. The more focused you are on issues your customers deal with, the better you can solve problems for them.
Just as you’re tracking your ROI, you can be certain your clients are as well. Why should they keep giving you their marketing budget if you aren’t serving their needs? Communication goes a long way toward ensuring your clients stay happy and you retain the ones you have while seeking new ones.
5. Take a Customer-Centric Approach
In one study, 90% of consumers said customer service matters most in their loyalty to brands. Do you put your clients at the center of everything you do? A customer-first approach ensures you build a following for your marketing or design business. People will return for future projects because they know they can rely on you. They’ll also tell others about you, giving you free word-of-mouth marketing.
Assess how happy your clients are by sending out surveys. Pay attention to any specific feedback about your marketing campaigns and touch base with clients who indicated there might be a problem. The more you pay attention to little details, the more understood your customers will feel.
6. Customize Each Campaign
It takes extra work to customize each campaign for each client, but if you go for the accounts that bring in more revenue, you’ll work with fewer people for more money. An account-based marketing approach for your agency frees up time for more creativity in your efforts.
Don’t just run the same promotions repeatedly. Take the time to come up with a fresh approach that perfectly suits your client’s target audience. Pay attention to their competitors and do something better and different than they do.
Measure Results and Repeat
One of the most important tasks in an account-based marketing approach is to measure results. Whether you want to track how well your targeting efforts for your agency work, or you analyze the results of the latest campaign or design for your client, numbers matter. When you work with Charley Grey, we take care of it for you!
Additionally, you should take the time to dig into the analytics behind each campaign. Figure out if you met goals for the client. Make adjustments and try again, measuring your ROI over and over until you hit the results you most desire.
If you’re looking for a better ROI on your website or want to drive traffic to a new campaign, then contact Charley Grey! Our websites have yielded more sales and higher results for our clients than their internal teams or other marketing agencies in the area.
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