Is your ABM answering the question ‘why?’

Account based marketing (ABM) is a fundamental part of B2B marketing these days. In its varying degrees of implementation and guises, this activity has proved its worth and cemented its position among B2B resources for many businesses and agencies. While some companies are looking to expand and grow their position within existing accounts, others are looking to secure a deal with their dream prospects – all of which are perfect for the ABM approach. But, there is a potential issue with some organisations’ ABM methods, and it’s something we’ll discuss and hopefully rectify in this blog.

It's not about you

The trouble with some ABM campaigns can begin way before the activity even starts. In fact, the issue can arise before marketing decisions have even been made. Let’s imagine a scenario where marketers and business decision-makers are in a room discussing their upcoming goals and objectives. These targets may include changing the brand perception among customers from simply suppliers to strategy partners. Or perhaps the business’ goals for the upcoming 6 months include the launch of a new product/service. In both of these situations, an ABM campaign focusing on 1-to-1 or 1-to-few would be a suitable approach – that’s not up for debate. What needs to be looked at though is how both these objectives are inward-facing and driven entirely by the needs of the business, not the customer.

Why would they?

Having agreed on an ABM campaign, the activity starts and communications are sent to the audience to explain the virtues of the brand’s partner capabilities or the new product’s features and potential benefits. There most likely will have been research conducted into the audience’s current suppliers or solutions, which helps position the offering. But as with most markets in the B2B realm, switching a supplier or integrating a new product is no easy feat. It can cost hundreds of thousands of pounds (sometimes millions), it can require large-scale changes to operating procedures, the associated admin work alone can be overwhelming, and in some cases this change can take months or even years. So, while brands may want to simply change their perception and update how they work with clients, or introduce a new product to their dream prospects, the decision for audiences is a much more critical undertaking. Yes, the rewards may, in fact, be worth the time, effort and investment, but the activity also comes with great risk, upheaval and possible catastrophe. The question then, that many who undertake ABM are failing to ask is ‘why would audiences change?’ This isn’t about product features or benefits, it’s about audiences taking the risks and the potential disruption of changing their current operating procedures. If your product is only a slight evolution of the tool they are currently using, or you are suggesting they change how they work with you despite the fact they already have a partner brand, then you may not be offering enough to offset and overcome the challenges of a switch.

Creating the right value proposition

Your value proposition for an ABM campaign is the simple statement that explains why a customer should choose your product or service. It is created and informed by research into the audience, their pain points, their goals, and their existing solutions. It is the basis from which the entire campaign grows, and it ensures that all messaging and communications align throughout the entirety of the campaign. Now, while many businesses will focus on benefits in value propositions (always a good idea), it seems that many are failing to take into account what we’ve previously discussed – why would an audience change? This is the key to not only a targeted and engaging value proposition, but also a successful ABM campaign. So when creating a value proposition, remember to put yourself in the shoes of buyers, understand the gravity of the potential decision, and provide a clear and succinct reason why this risk is worth taking.

Keep your eyes on the prize

Throughout your ABM campaign it’s important to continually cover the virtues of your product/service and your brand – of course it is. However, it’s worth always staying focused on why audiences would endure upset to make this switch. By regularly discussing your capabilities and why ‘the juice is worth the squeeze’, you have an opportunity to allay the buyers’ concerns and secure a deal.

To find our more about the value of great B2B copywriting, strategy and communications, speak to Keystone Copywriting today by emailing kenneth@keystonecopywriting.co.uk or call 0330 043 7177