An ABM (account-based marketing) strategy is a targeted approach to marketing that focuses on individual accounts rather than entire markets. It’s like a carefully aimed arrow, focussing only on specific targets rather than a wide net full of various things.
Key Steps to ABM Strategy
To kick off your ABM strategy for B2B SaaS companies, there are a few key steps you should follow:
Identify your Target Addressable Market (TAM)
Start by identifying the specific accounts that you want to target with your ABM strategy. These should be accounts that are most likely to benefit from your SaaS product and are a good fit for your business. To make this process easier, build different ICPs (Ideal Customer Profile) for your product by analyzing your customer base who benefits most from your product. An ICP considers firmographics and various demographics, and industry-oriented information:
Annual revenue of the company
Size of the company
Number of employees
For example, for a B2B company that sells a SaaS product for Developers, we would define all the above as:
Annual revenue of the company- Only if it matters
Number of employees & Team size- Depends on the product because if it is more beneficial to startups, then 20-50 otherwise, it can go above.
Job Titles- CTO, Head of Tech, Engineering Head, Software Development Lead, etc.
Location- depends upon the expansion goals of the company
Budget- depends on the cost of your product
Tech stack- All the important tech stack they are using right now
Apps to extract your target audience along with email ids, LinkedIn accounts, etc.:
Develop a personalized value proposition
Next, develop a personalized value proposition for each of your target accounts. This should be tailored to their specific needs and pain points and highlight your SaaS product's unique benefits.
Based on your ICPs, try different communication variations for various target groups. You can also perform A/B testing to infer what works best for you, including the founder’s message mixed with the product’s value proposition.
Do not forget to add their pain points and value propositions of your product to showcase your value to them. Look at the following, which we used for our client’s ABM campaign.
Create targeted content and campaigns
Once you have identified your target accounts and developed a personalized value proposition, you can start creating targeted content and campaigns designed to engage these accounts and generate interest in your SaaS product.
This could include personalized emails or LinkedIn messages containing icebreakers specific to the individual target. You can dig into their Linkedin accounts or google them to fetch something relevant that can be used as a spicy conversation starter.
Here’s an example of what our content writer has used as an icebreaker for our client’s Email drip campaign.
I came across a page of The University of Melbourne, Alumni & Giving, where I read your story on how you came to Australia from your home town Qingdao, China, made your way through all of the obstacles and created a successful fintech startup Airwallex. Your career trajectory inspires millions who dream of making it big. Greatly moved & inspired. Given your experience, I have something important to discuss with you.
She browsed the person on Google and found this info under this link.
This particular example reflects:
How can you impress your prospect with a personalized message that resonates
How to make them feel important
How to break online resistance
How to bind them to read further and hit their pain point
How to tailor your message to show we care for them and will provide a substantial solution to their problems
Another great one:
Thank you for mentioning the icebreakers! :) This made my job a bit easier. I see you are a huge Bruce Springsteen fan. I happen to put my dancing shoes on whenever I hear "Dancing In The Dark." Given your work interest, I wanted to discuss something important.
Reference from the prospect’s LinkedIn bio:
Sometimes prospects are generous like that :p
For an email or a LinkedIn drip campaign, you can add humour to make the communication more affable and interesting.
Applications to send Drip Campaigns:
- Zoho Campaigns
Analyse and make reports
Do not hesitate to make reports and deduce what has worked for you and what has not. Try to find out what demographics and other firmographics are producing the best outcomes and which content variation is giving positive replies.
Double down on your efforts to target the right audience after you have tapped into the best combination of firmographics (ICP) and communication.
Engage with your target accounts
Finally, make sure to engage with your target accounts throughout the sales process. This could involve reaching out to them directly, attending relevant industry events, or participating in online forums and discussions related to your SaaS product.
Building relationships and engaging with your target accounts can increase the chances of securing their business.
Overall, the key to a successful ABM strategy for B2B SaaS companies is to be targeted, personalized, and consistent in your approach. Following the steps outlined above, you can effectively kick off your ABM strategy and generate more qualified leads and customers for your SaaS business.