At the risk of sounding like an ad for a dating app, making meaningfulconnections is key in cleantech marketing. Business-to-business (B2B) marketingin the energy sector often involves high-value sales with long lead times,where the personal touch counts for a lot.
Add in the complication of multiplefunding parties and stakeholders, plus novel products and services, andbusinesses can often find it hard to make headway with clients. Fortunately,account-based marketing (ABM) is perfectly placed to help.
Creative software giant Adobe defines ABM as “a focused approach to B2B marketing in which marketing and salesteams work together to target best-fit accounts and turn them into customers.”
In practice, this means identifying keydecision makers and tailoring marketing initiatives to their needs. In theenergy sector, where you may have met many of the people you want to sell to attrade shows and other events, this personalised approach is important.
That said, ABM is being used widely inother sectors, too. Last year, 70% of marketers claimed that they used ABM. Research shows that companies employing the technique are 67% better at closing deals, with the tech sector favouring ABM in particular.
Using ABM in energy
Like in technology, majorpurchase decisions in the energy sector involve multiple stakeholders, whichcan slow down the sales process. Typically, asale starts at a low rung in the decision-making ladder before finding its wayto the person signing off on the deal.
With ABM, this process is shortenedbecause prospects can be nurtured simultaneously. ABM also helps identify the best point of contact withinan organisation, enabling you tobuild stronger relationships.
ABM is also suited to the fast-pacedworld of cleantech because it’s innovative and has a built-in responsiveness. Partly, this is down to its personalised nature. Instead ofone-size-fits-all, marketers set out to create tailored messaging to targetedaccounts, so your message can change when the circumstances do.
Done well, the rewards from ABM arehuge. Companies that use ABM have seen up to a 208% increase in revenue, with accounts moving quickly throughthe sales pipeline before and after lead conversion.
ABM is said to provide the highest returnon investment of all B2B marketing strategies: 91% oforganisations that use it see anincrease their average size of the deal, with 25% reportingan increase of more than 50%.
Depending on the size of your targetedaccount list, data could be segmentedbased on factors such as the size of thecompany, services, revenue, number ofemployees, competitors and annual spend.
Resource on tap
This hyper-focussed, micro-data aspectof ABM means that it’s possible to unearth specific behaviours that maysignpost a prospect’s eagerness to buy. It’s a unique deep dive that’sessential for engagement and momentum.
Tapping into this opportunity requiresdedicated resources, not just for account handling but also for the developmentof sales support materials such as case studies, white papers, blogs, brochures and email campaigns.
Focusingon specific needs, pain points and data, these resources are vital when itcomes to crafting bespoke messages for targeted accounts.
This requirement for resources, be it for leadnurturing, collateral production or data analysis, could be the only stumblingblock for some marketing teams in the energy industry. But at Tamarindo we canprovide support in all these areas.
In many engagements, we already work with clientsales teams and so we are well versed on the fundamentals of ABM. As acommunications agency, we also employ ABM tactics to build relationships withthe press and other audiences. If you’re interested about learning more, then speak to us now.