Did you know the average click-through rate for emails is lower than 3%? So, before you blast off another mass email and segment the recipients on the basis of their response, it’s time to do things the other way round- segment first before sending the email. That is the difference between lead generation through conventional strategies and <a href="https://www.oxper.in/marketing-automation/account-based-marketing/" >Account Based Marketing</a>.
Lead Generation vs Account-based Marketing - Fishing with Nets vs Fishing with Spears
There are plenty of fish in the sea- and traditional B2B marketing tosses out content like a fishing net in the hopes of landing a few whereas account-based marketing uses a spear to go after the targeted fish. The only difference between the two approaches is the tool used to catch fish. If customers are the proverbial “fish in the sea” then casting a wide net over a group of prospects to generate leads doesn’t work anymore. Thus, “fishing with spears” employs a much more targeted approach to reach the customers that count.
Back to the marketing universe, the difference between lead generation and account-based marketing is that the former employs a border approach across all industries while the latter narrows the target down to a specific set of prospective accounts. But essentially, lead generation is a part and parcel of account-based marketing.
<a href="https://www.oxper.in/marketing-automation/account-based-marketing/" >Account Based Marketing Services</a> ensure better alignment with sales and an increased pipeline velocity which ends up in closing bigger deals, forgoing long and complex sales cycles for a much smaller, targeted customer-base. Implementing an ABM strategy will have the following perks-
1. Alignment of Marketing and Sales
Account-based marketing requires a focus from both the marketing and sales team which is aligned at the beginning of an ABM campaign, ensuring the right data-driven decisions throughout the sales cycle.
2. Higher Return on Investments (RoI)
Account-based marketing services are more precise, targeted, personalised and accurate than conventional inbound and outbound B2B marketing campaigns- generating a higher RoI with fewer opt-outs and greater response rates.
3. Shorter Sales Cycle
Account-based marketing speeds up the sales process by eliminating unqualified leads very early in the process. Sales and marketing efforts are focussed on the accounts that are most likely to convert, providing them with personalised experiences for a quick conversion.
Adopting an ABM strategy is nothing groundbreaking for B2Bs but it’s accelerating across industries, now more than ever, changing the way businesses drive revenue, certainly taking over lead scoring through traditional strategies.