In today’s digital world, people are bombarded with information. With the market being highly competitive, how do you distinguish yourself from the competition? ABM is a marketing strategy that focuses on quality rather than quantity.
There is increased awareness among customers. Targeting all demographics using generic paid marketing content no longer translates to quality leads. According to a report by HubSpot, 67% of brands are using account-based marketing. The strategy is no longer a luxury but a necessity to stay relevant in the marketplace.
The article will look at how paid media strategy can be utilised in an account-based marketing campaign.
Paid Media and its Different Types
With paid media, you are purchasing ad space to promote your brand. You have a customer profile ready. You know the message you want to send out, but how do you send this message out? Paid media is one of the channels through which you can reach your target audience.
Some of the popular paid media types are:
- Social media
- Search engine ads
- Native ads
- Banner ads
Cost Per Click (CPC) is the most common type of pricing model, wherein for each click, an amount is paid. Cost Per Mile (CPM) is another pricing model wherein one pays per thousand views.
Leverage Paid Media for Your ABM Campaign
Paid media can identify new target accounts or find new or unknown contacts within a known target account.
Find New Target Accounts and Contacts
If your goal is to find new target accounts, you can start by putting together a customer profile. Depending on the paid media network that suits your product or service, you can upload the potential customer accounts that best meet your drafted profile into the paid media network.
It is now the responsibility of the network to find and reach out to accounts that are similar to the customer profile you uploaded. You can run targeted ads for new accounts the paid network suggested. If the lead generated converts into a paying customer, you have secured yourself a new contact and new target account using paid media.
Find New Contacts within Known Target Accounts
If your goal is to find new contacts in a known target account, start by preparing a list of the target accounts you want to penetrate your reach into. Once you have the list prepared, you can upload it into the paid network. The goal is to match accounts within your and the network’s database and send ads to contacts for all matching accounts.
The advantage here is you know the target account beforehand. You can personalise and send out ads to find new contacts. Compared to the above approach, in a known target account, your audience reach is limited; thus, ensure your paid media is tailored explicitly for conversion.
You can leverage several avenues like social media, blogs, websites, groups, and forums with paid media. With an ABM strategy in place, you can develop customer profiles and reach out to them with highly personalised paid media ads. The strategy gives you a competitive edge as you speak the customer’s language; you sell them a story and not just your product or service.