Your original 2020 marketing plan is now obsolete, and you’ve been asked to adjust budget allocation. You might be asking yourself: where can I rationalize my efforts and resources to drive the most revenue? During a crisis or disruptive event, Account Based Marketing (ABM) has become even more vital for enterprise-level B2B companies that are competing to differentiate themselves. By doubling-down on the fundamental principles we often overlook, companies can accomplish three major things: increased customer retention, capturing new logo business, and attaining cross-functional interlock to maximize ROI.
Customer retention is the new growth strategy. Focusing on the loyal customers that have helped your business grow up to this point is essential as it provides reassurance and a stance of empathy. For B2B companies operating in these uncertain economic conditions, it’s important to remember that retention of your key customers can drive more value than customer acquisition itself.
Capturing high potential prospects is key when pipelines are disrupted. ABM provides the opportunity to demonstrate clear value to prospects that need you most. Understanding market needs in current conditions and then generating awareness to help you stand out are two crucial inputs for future revenue uplift.
Maximize ABM with cross-functional interlock. Your sales, customer success, and marketing teams cannot function in individual silos. Collaboration is vital, and it helps you align on target accounts in order to develop a communication plan and outreach strategy. Remember: marketing ROI is best realized with synergy.
For a deeper dive, join our webinar and Q&A, 5 Ways CMOs Are Reallocating Budget for Today’s Environment, at 12 pm ET today. In this webinar, we will be discussing how market-leading CMOs are adopting an agile strategy and reallocating their budget in five key areas, including ABM. Register now and join us to discover best practices you can begin implementing immediately.