pixel

A Step-By-Step ABM SaaS Approach For Business Growth

ABM SaaS

When it comes to business growth, you can never be too strategic. And when it comes to Account-Based Marketing (ABM), ignoring even one step in the process can doom your efforts from the start. So, what’s the best way to go about implementing an ABM strategy for your SaaS business?

In this blog post, we’ll take you through a step-by-step ABM approach for business growth – starting with identifying your target accounts and working all the way through developing and executing campaigns that will win them over. Let’s get started!

 

What is Account-Based Marketing (ABM)?

 

Account based marketing (ABM) is a strategic approach that focuses on key accounts rather than target markets in order to grow revenue by creating and nurturing relationships with decision-makers.

Account-Based Marketing is used by 7 in 10 companies worldwide. It is seen as one of the most effective ways to grow a business in general, as it allows you to tailor your marketing efforts to specific accounts that are more likely to convert. In fact, data show ABM strategies can boost your revenue by 208%.

To do this, ABM teams focus on understanding the specific needs of each account and tailoring their marketing strategy accordingly.

This targeted approach often leads to better results than generic marketing campaigns, as it allows for a more personalized approach that is more likely to resonate with decision-makers.

In addition, ABM can help to build long-term relationships with key accounts, which can lead to repeat business and increased customer loyalty. For these reasons, it is an increasingly popular approach among B2B companies.

 

ABM vs traditional marketing

 

As mentioned, ABM sets its mark on key accounts instead of targeting a larger, more general audience. This approach is often used by B2B businesses that sell complex products or services.

Traditional marketing covers a wide range of activities, from advertising to public relations, and it can be difficult to measure the return on investment (ROI).

In contrast, ABM is much more focused and customized. It involves identifying key decision-makers within target accounts and developing personalized messages, content, and marketing campaigns specifically for them.

Because ABM is more targeted, it has the potential to yield a larger ROI versus traditional marketing. However, it is also more time-consuming and expensive than traditional marketing.

 

ABM for SaaS

 

The ABM approach is often used in B2B marketing, as it allows businesses to tailor their messaging and outreach to target accounts.

For SaaS companies, ABM can be an effective way to increase customer lifetime value and expand into new markets. By aligning sales and marketing teams around key accounts, SaaS companies can better nurture relationships and close deals. One study found that ABM can lead to a 75% increase in lead-to-close rates.

In addition, ABM can help SaaS companies differentiate themselves in a crowded market by tailoring their messages to fit the needs of each customer.

For example, a SaaS company that sells project management software might use ABM to target businesses in the construction industry. By understanding the specific needs of these businesses, the company can develop messaging that resonates with their customers and sets them apart from other project management software providers

ABM also allows SaaS companies to focus their limited resources on a smaller number of accounts that are more likely to convert. This targeted approach can save time and money, while also resulting in better quality leads

 

Main ABM Strategies

 

Interactive Demos

 

An effective SaaS demo enables prospective customers to see the value of your product, understand how it works, and get a feel for how it would fit into their workflow.

When creating an interactive demo for a SaaS product, it is important to keep the following points in mind:

  • The demo should be designed to show the key features and benefits of the product in a way that is easy to understand.
  • The demo should allow users to try out the product for themselves.
  • The demo should be accessible on all devices, including mobile phones and tablets.
  • The demo should be easy to use, with clear instructions and a simple interface.

 

Customized Communications

 

Because SaaS products are offered on a subscription basis, they require ongoing communication with subscribers in order to keep them engaged and to encourage renewals. In order to effectively communicate with SaaS subscribers, it is important to create customized communications that are tailored to the individual subscriber’s needs. Here are some tips for creating customized communications for SaaS products

  • Keep it personal: SaaS products are typically used by individuals or small businesses, so it’s important to keep the tone of your communications personal
  • Segment subscribers into different groups based on their use of the product: For example, you could segment subscribers based on their location, the type of SaaS product they are using, or their level of engagement with the product. Once you have segmented your subscribers, you can then create targeted communications that are designed specifically for each group.
  • Use customer data to personalize your messages: For example, you could use data such as a customer’s purchase history or web browsing behavior to tailor your communications and offer relevant discounts or recommendations.
  • Use language that resonates: For example, instead of saying “download our SaaS product,” you might say “try our SaaS product for free.”
  • Be clear and concise: SaaS users are busy people who don’t have time to wade through long and complicated messages. Make sure your communications are clear and concise so that users can easily understand them
  • Use strong call-to-actions: SaaS users need to be encouraged to take action in order to convert them into paying customers. Use strong call-to-actions in your communications to encourage users to sign up for a free trial or subscribe to your service
  • Consider using customer testimonials, infographics, and other types of visual content to engage their audience.

 

Personalized gifting

 

Gifting can be a great way to show your appreciation for someone who has been a subscriber for a long time or has made a significant purchase. However, it’s important to keep in mind that not all gifts are created equal. The best gifts are those that are thoughtful and useful.

For example, if you know that someone is a huge fan of your product, you could send them a gift that is related to your product (e.g., a book about the history of your software). Or, if you know that someone is always using your product on the go, you could send them a travel-sized version of your product (e.g., a mini version of your app).

 

Events and Webinars

 

By hosting events and webinars that are specific to the needs of your target accounts, you can show them that you understand their pain points and have solutions to help them overcome challenges. Additionally, events and webinars give you an opportunity to further engage with your target accounts and build relationships with key decision-makers

When planning an event or webinar, there are a few things to keep in mind.

  • Make sure you have a clear understanding of your target audience and what they want to learn.
  • Choose a topic that will be relevant to your target accounts and create content that is tailored to their needs.
  • Promote your event or webinar through channels that your target accounts are active on.

 

Multichannel Approach

 

Multichannel approach includes using direct mail, email, and social media to reach one customer.  Selecting the right mix of channels is vital to the success of this approach. The idea is to meet the customer where they are and provide them with the information they need, when they need it

For example, if you are targeting a customer that does most of their research online, you might use a mix of email and social media. If you are targeting a customer that prefers face-to-face interactions, you might use a mix of direct mail and events

 

A Step by Step ABM Approach for B2B SaaS Companies

 

Now that we’ve covered the basics of ABM, let’s take a look at how this approach can be used by B2B SaaS companies.

 

1. Define Your Target Accounts

 

This involves identifying the specific businesses that you want to target. To do this, you’ll need to consider factors such as industry, size, and location.  To help you  identify your target accounts, you can use tools such as LinkedIn’s account targeting tool

You may also need to create buyer personas to help you understand the specific needs of each target customer. This involves creating a fictional character that represents your ideal customer.

 

2. Create Ideal Customer Profile

 

SaaS businesses typically have two types of customers: those who use the free version of the product and those who pay for the premium, or paid, version. The ideal customer profile for a SaaS business is someone who is willing to pay for the premium version of the product. This type of customer is usually someone who sees the value in the product and is willing to invest in it in order to get the most out of it.

The ideal customer profile is different from a buyer persona in that a buyer persona is a more general representation of a customer. It includes information about demographics, interests, and needs. An ideal customer profile is more specific and focuses on someone who is likely to become a paying customer.

There are a few key elements that you should include in your ideal customer profile. First, you need to identify the needs of your target customer. What are they looking for in a SaaS product? What pain points are they trying to solve? Once you know this, you can start to craft messaging that resonates with them.

In addition to needs, you should also consider demographics when creating your ideal customer profile. This includes things like age, location, and job title. Knowing who your target customer is will help you better understand where to reach them with your marketing efforts.

Finally, you should also think about what kind of budget your ideal customer has. This will help you determine what price point is appropriate for your product and how to position it in the market.

 

3. Build a target account list

 

When it comes to building a target account list, SaaS companies have a few options. One option is to look at similar companies in terms of size, industry, and location.

Another option is to look at companies that have recently shown interest in your product or service.

Lastly, you can also use demographic data to identify potential customers. Once you’ve compiled a list of potential target accounts, the next step is to research each one. This research should include looking at the company’s website, their social media presence, and any news articles or press releases about them.

The goal is to get a better understanding of their needs and pain points. With this information in hand, you’ll be able to craft targeted messages that will resonate with your ideal customer.

 

4. Segment accounts

 

In order to segment your target accounts, the usual method being done by SaaS companies is identifying a list of key criteria, such as company size, industry, and location. You can then create groups or “clusters” of similar accounts that share these criteria.

SaaS companies often use account scoring to further segment their target accounts. Account scoring assigns a numeric value to each account based on its likelihood to convert. You can use account scoring to prioritize your target accounts and focus your ABM efforts on the accounts with the highest score.

 

5. Develop personalized marketing campaigns

 

Now that you’ve segmented your target accounts, it’s time to start developing personalized marketing campaigns. The goal of these campaigns is to pique the interest of your target account and get them to take action.

To do this, you’ll need to create targeted content that speaks to the specific needs of your target customer. This could include blog posts, eBooks, infographics, or even webinars. Whatever content you create, make sure it’s tailored to your target customer and their specific needs.  According to 56% of marketers, personalized content is the key to effective ABM strategies.

In addition to targeted content, you should also consider developing personalized emails and landing pages. These elements should also be tailored to your target customer and their needs.

 

6. Engage with your target accounts

 

The final step in the process is to engage with your target accounts. This involves reaching out to them directly and starting a conversation

There are a few different ways you can go about this. One option is to use social media to reach out to your target customers. Another option is to email them directly. And finally, you can also pick up the phone and give them a call.

Whichever method you choose, the goal is to start a conversation and build a relationship with your target customer. By doing this, you’ll be able to better understand their needs and pain points. And in turn, you’ll be able to offer them a SaaS solution that meets their specific needs.

 

Final Thoughts

 

American businesses lose an estimated $1 trillion annually for failing to maintain customer relevance. If your SaaS business is interested in driving sales and cutting costs, ABM could be a great solution for you. Implementing an ABM strategy can help you create more targeted content, website experiences, and overall campaigns – leading to better quality leads, bigger deals, and higher customer lifetime values.

Not sure where to start? Visit our blog for more tips and resources for growing your SaaS business with best marketing practices.

Get fresh updates in your inbox 👇

Ken Moo
0 Shares