Account-Based Strategy is frequently used in B2B SaaS marketing because of its effectiveness. However, not all marketers know how to get the most out of this marketing practice. In this article, we explain the process of developing an effective ABM strategy for B2B SaaS.
First of all, you need to arrange a meeting with higher executives, such as a CMO or CEO, and let them know what solutions your B2B SaaS can offer for them. You will also get a better sense of your ICP (Ideal Customer Profile) after meeting with them.
Secondly, you need to conduct a quantitative analysis of your customers. To conduct this analysis, you need to go to the CRM, pull out all the accounts of your current customers, and sort them by value. Then, you can track the consistencies in these accounts using your B2B SaaS firmographics. It’s useful to classify your customers into segments. It will enable you to see which segment is full of customers and which is lacking so you can build a B2B SaaS marketing strategy to fill up this segment.
Many B2B SaaS companies are struggling to go up to catch the big fish to rapidly increase revenue growth. However, many of them fail because they are financially driven but don’t actually understand the prospects and their pain points. You really need to understand your ICP well to prove to them that your B2B SaaS has effective solutions to their pains.
Content is also highly important for ABM. You need to adapt your content strategy to every channel you use for B2B SaaS promotion. You will increase your B2B SaaS engagement rate if you keep up with the newest features of the channels and use them to creatively promote your product. Additionally, you need to keep in mind that there are different active audiences on each channel. For example, comparing Instagram and LinkedIn, you may find more of your B2B SaaS target audience on the latter.
Moreover, you need to analyze the effectiveness of your B2B SaaS paid social channels. How a buyer learns about your B2B SaaS influences the conversion rates greatly. Not all MQLs (Marketing Qualified Leads) are equally nurtured. They convert differently which depends on the source they came from. It’s useful to analyze the conversion rates and the sources of your B2B SaaS leads. You may find the sources that provide less than 5% of lead conversion. It means that the prospects from these sources have little intent to purchase your B2B SaaS. You will also find the sources with high conversion rates from where leads actively inquire about your product.
Fix your marketing mix so that you put less effort into going all over the place to promote your B2B SaaS but spend more on promoting it to the sources that show high conversion rates. In such a way, your Marketing Funnel will be cleaner, and you will be able to get consistency and quality in your B2B SaaS ABM strategy.