The term ABM has been thrown around recently—along with AI and a few other things marketers try to ignore—but ABM is coming on with full steam.
According to Terminus, more than 60% of companies plan to launch an ABM-based campaign in the next year.
What is Account-Based Marketing or ABM?
Account-Based Marketing (ABM) is all about focusing on an individual contact record or customer account as a ‘market-of-one.’ The more targeted your marketing engagement is, the better your conversion rates will be.
An easy way to think of ABM is to think of your buyer & company personas but this is an add-on to your current strategy to take it to the next level!
ABM within HubSpot – What is new?
- Three Additional HubSpot Custom Fields – Oh lala!
What are the 3 new custom HubSpot Properties for ABM?
- Contact Property – Buying role
- Identifies the role that a contact plays during the sales process
- Available Options: Blocker, Budget Holder, Champion, Decision Maker, End User, Executive Sponsor, Influencer, Legal & Compliance & Other
- Company Property – Target account
- Identifies if the company is one you are prospecting or are not prospecting
- Available Options: true OR false
- Company Property – Ideal customer profile tier
- Tier levels are defined as how closely the account is to your ideal customer profile. Tier 1, would indicate a great fit for services, where Tier 3 might be a marginal fit or low priority.
- Available Options: Tier 1, Tier 2 or Tier 3
How can my health club use ABM?
Implementing an ABM strategy is ideal for clubs who are selling corporate subsidized memberships.
You can split your ideal corporate company persona and create 3 tier levels to focus your outreach. For example:
- Tier 1 – Over 500 employees, over 50 million in revenue, etc.
- Tier 2 – 250 – 499 employees, over 30 million in revenue, etc.
- Tier 3 – 100 – 249 employees, over 10 million in revenue, etc.
Once tier levels have been determined, you can set up an automated workflow around the Ideal customer profile tier property tier to automatically update based on smart list criteria.
Another way corporate outreach can use ABM is by using the Contact Property – Buying role. This can be used to determine the key contacts in closing a corporate wellness partnership and highlight key decision-makers.
The 3 most likely fields to utilize are Decision Maker, Influencer & Budget Holder. Another approach for buyer role field could use the Contact Property – Buying role also tag “End User” to send targeted corporate-related emails and promotions.
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HubSpot ABM is now available in beta. To get access to the beta, contact your HubSpot account manager!
Keep an eye out for increased functionality that will be tied back to these custom properties in the coming days.
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HubSpot ABM Software – https://www.hubspot.com/products/abm-software
The Ultimate Guide to ABM – https://blog.hubspot.com/marketing/account-based-marketing-guide
Using HubSpot for ABM – https://blog.hubspot.com/customers/hubspot-and-account-based-marketing
Article by: Lindsey Leemis, CEO & Founder of Twist