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If you haven’t heard of account based marketing, it’s one to get to know. Essentially it involves treating individual accounts or clients as a market in their own right. Rather than applying blanket marketing strategies to all your clients, you would instead develop highly customized and specific marketing strategies tailor-made for each account.
Clients often come to me for help developing an individualized marketing strategy for their successful – but growing – business. Setting up an account based marketing plan to increase revenue can be a challenge, but with thorough research and the following steps, you can develop a successful marketing approach to increase your revenue.
Focus on High-Value Clients
Because account based marketing requires more individualized attention, it’s important to focus on repeat clients who bring in either a high volume of work or a high revenue point. By targeting these clients, you can design an account based marketing plan specific to their needs, nurturing your professional relationships even further.
Develop a Deeper Understanding of Targeted Clients
Once you and your team have chosen the specific clients that you’ll focus your account based marketing efforts on, it is vital to build a greater understanding of the client’s specific business needs. This involves thorough research of what marketing strategies do and don’t work in a client’s immediate industry.
Personalize the Account’s Communication with Your Company
Personalization in an account based marketing plan builds trust with a client and helps her feel like you have her best interests at heart (and you do). Personalization in communication comes in many forms, such as:
- Custom landing pages
- Specialized analysis reports
- Workflow based on the prospect’s preferences
- Personalized contracts, forms, and copy
- Client-specific content that is created with targeted buyers in mind
Monitor and Modify Results
An account based marketing plan does not end once a specific marketing strategy has been deployed. Continually monitor and modify the marketing plan to ensure you keep congruent with the ever-changing marketplace and needs of your potential client.
Review Your Plan Constantly
Since your target audience in an account based plan is much smaller than your normal trajectory, measuring results is a much easier process. Review your analytics and data from that client regularly, and develop content strategies to increase revenue through longer deals and higher price points.
Account based marketing is an approach that, if developed and carried through with mindfulness of the client’s needs, can skyrocket your revenue and build fulfilling professional relationships.
Source:: Business 2 Community