Ultimate Guide to the Account-Based Marketing Funnel

What is an account-based marketing funnel?

An account-based marketing (ABM) funnel is a strategic approach to marketing that focuses on nurturing relationships with high-value accounts, as opposed to casting a wide net. It’s essentially a flipped version of the traditional marketing funnel.

Here’s a breakdown of the ABM funnel stages:

• Identify: This stage involves pinpointing a list of target accounts that are a perfect fit for your product or service. You’ll want to consider factors like industry, size, and budget.
• Engage: Here, you’ll build connections with the decision-makers at your target accounts. This might involve personalized outreach, social media engagement, or attending industry events.
• Expand: Once you’ve converted a target account into a customer, this stage focuses on selling them additional products or services.
• Retain: This stage is all about keeping your customers happy and satisfied so they continue to do business with you. This can involve providing excellent customer service, offering loyalty programs, or keeping them updated on new products and services.

The key elements of an account-based marketing (ABM) funnel differ from a traditional marketing funnel by focusing on meticulous targeting and relationship building. Here are the essential stages:

1. Ideal Customer Profile (ICP): Before diving into specifics, you need to define your ideal customer profile (ICP). This is a detailed representation of your perfect customer, encompassing factors like industry, size, budget, and growth potential. Having a clear ICP allows you to identify target accounts that are the best fit for your product or service.
2. Account Selection: Once you have your ICP, you can move on to selecting the specific accounts you want to target. This stage involves researching numerous companies that match your ICP criteria. Industry reports, firmographic data (company size, location, etc.), and intent data (web browsing behavior that suggests buying interests) can all be valuable resources for selection.
3. Account Research: In-depth research on your target accounts is crucial for success. You’ll want to understand their specific needs, challenges, buying process, and key decision-makers. By gathering this intel, you can tailor your marketing messages and outreach strategies to resonate with each account.
4. Multi-Touch Marketing: Reaching out to your target accounts through various channels is essential in ABM. This might involve a strategic combination of email marketing, social media engagement, content marketing that directly addresses their pain points, and personalized outreach (e.g., one-on-one emails or phone calls).
5. Measurement & Optimization: Tracking the progress of your ABM campaigns and measuring results is critical. Key metrics you might monitor include website visits from target accounts, engagement with your content, and conversion rates. By analyzing this data, you can identify what’s working and what’s not, allowing you to optimize your strategy for better performance.

Additional ABM Focus: It’s important to remember that ABM emphasizes two additional aspects:

• Marketing & Sales Alignment: There needs to be a strong working relationship between your marketing and sales teams throughout the ABM funnel. Collaboration ensures consistent messaging and a seamless experience for target accounts.
• Account Advocacy: The ultimate goal is not just to convert target accounts into customers, but to turn them into advocates for your brand. This can be achieved by exceeding their expectations and providing exceptional customer service. By delighting your customers, you encourage them to recommend your products or services to others.

The importance of the account-based marketing (ABM) funnel can be summarized in the following points:

• Increased ROI: By focusing on high-value accounts, ABM allows businesses to target their marketing efforts more effectively, leading to a higher return on investment (ROI). You’re not wasting resources on unqualified leads, but instead putting your energy into converting surefire clients.
• Improved Customer Relationships: ABM fosters deeper relationships with key accounts. The personalized approach cultivates trust and satisfaction, leading to greater customer loyalty.
• Shorter Sales Cycles: The targeted approach of ABM can streamline the sales process. Because you’re already familiar with the specific needs and pain points of your target accounts, you can tailor your pitch accordingly and move towards conversions faster.
• Increased Account Value: ABM helps businesses not only acquire high-value accounts but also sell them additional products or services, thereby increasing the overall lifetime value of each account. By understanding their needs, you can identify other areas where your offerings can provide solutions.
• More Predictable Revenue: By focusing on a defined set of target accounts, ABM allows businesses to forecast revenue more accurately. You have a clearer picture of the potential worth of each account and the likelihood of conversion.

In essence, the ABM funnel offers a strategic approach to marketing that allows for efficient allocation of resources and fosters strong, long-term client relationships.

What are examples of an account-based marketing funnel?

Here are a couple of examples showcasing how real companies have implemented the ABM funnel with its four key stages:

Company: Adobe

• Identify: Adobe targets large enterprises in the creative industry, such as film studios or advertising agencies. These companies have a high need for sophisticated creative software solutions.
• Engage: Adobe uses targeted content marketing strategies, like webinars showcasing the latest creative software features, to reach key decision-makers within these companies. Additionally, they might engage with these decision-makers on social media or conduct personalized outreach campaigns directly to marketing and creative teams.
• Expand: Once a company becomes an Adobe customer, Adobe can upsell them on additional products or services within the Creative Cloud suite, such as Photoshop, Illustrator, or After Effects. They might offer targeted discounts or bundle packages to incentivize expanding their service portfolio.
• Retain: To retain these valuable customers, Adobe prioritizes exceptional customer service with dedicated account managers. They might also offer exclusive training and support programs to ensure these creative teams are getting the most out of the software.

Company: Zoom

• Identify: Zoom targets fast-growing tech startups that require a reliable video conferencing platform for remote teams. They consider factors like company size, industry trends, and reported use of collaboration tools.
• Engage: Zoom might create targeted content showcasing successful use cases of video conferencing in startup environments. They could also engage with startup founders on social media platforms like LinkedIn or attend relevant industry events to connect with potential customers.
• Expand: After acquiring a startup client, Zoom can explore opportunities to expand their services within the company. This might involve upselling additional features like increased meeting participants or webinar hosting capabilities.
• Retain: To retain these startup clients, Zoom can offer dedicated customer success managers who understand the unique needs of fast-growing businesses. They might also provide resources and guides specifically tailored to scaling up video conferencing usage within a startup environment.

These are simplified examples, but they illustrate how companies can leverage the ABM funnel to target high-value accounts, nurture relationships, and achieve long-term success.

How to create an account-based marketing strategy?

An account-based marketing (ABM) strategy and an ABM funnel are two sides of the same coin. Your strategy outlines the overall approach, while the funnel translates that strategy into a series of targeted actions. Here’s how to effectively map your ABM strategy to your ABM funnel:

1. Align Your Strategy with Funnel Stages:

• Your ABM strategy should provide the overarching goals and themes for each stage of the funnel.
  • Identify Stage: In your strategy, define clear criteria for selecting ideal customer profiles (ICPs). This informs who you target in the identify stage of the funnel.
  • Engage Stage: Your strategy should outline the types of content and messaging that resonate with your target accounts. This guides your content creation and outreach efforts in the engage stage.
  • Expand Stage: The strategy should address how you’ll identify upsell and cross-sell opportunities within your target accounts. This informs your efforts to expand the relationship in the funnel.
  • Retain Stage: Define strategies for exceptional customer service and account management within your ABM approach. This translates to loyalty-building tactics in the retain stage.

2. Develop Targeted Personas:

• Your ABM strategy should delve into the specific needs and challenges of your target accounts. Create detailed buyer personas for key decision-makers within these accounts.
• These personas will help you tailor content, messaging, and outreach strategies for each stage of the funnel, ensuring maximum relevance and impact.

3. Craft Stage-Specific Action Plans:

• Within your ABM strategy, outline specific actions for each stage of the funnel. This could include:
  • Identify Stage: Developing a research process to find ideal accounts, utilizing firmographic and technographic data.
  • Engage Stage: Creating targeted content like case studies or white papers addressing their specific challenges. Planning social media engagement tactics tailored to the platforms your decision-makers frequent.
  • Expand Stage: Identifying upsell or cross-sell opportunities based on their existing product usage and business goals.
  • Retain Stage: Developing customer success programs and dedicated account management practices to ensure long-term satisfaction.

4. Leverage Marketing Automation:

• Utilize marketing automation tools to streamline your ABM efforts and personalize your approach across the funnel.
• These tools can help with tasks such as targeted email marketing campaigns, social media scheduling, and website visitor tracking from your target accounts.

5. Continuously Monitor and Optimize:

• Your ABM strategy and funnel should be a living document. Regularly track key metrics like website traffic, engagement rates, and conversion rates at each stage of the funnel.
• Analyze this data to identify what’s working and what needs improvement. Adapt your messaging, content, and outreach tactics based on these insights to continuously optimize your ABM funnel for better results.

By effectively mapping your ABM strategy to your ABM funnel, you create a cohesive and targeted approach to acquiring and retaining high-value accounts. Remember, personalization and a deep understanding of your target audience are key to success at every stage of the funnel.

What tools are needed for an account-based marketing funnel strategy?

Several tools can be valuable assets in developing and executing an account-based marketing (ABM) funnel strategy. Here’s a breakdown of the key categories to consider:

1. Account Identification & Research:

• Firmographic and Technographic Data Providers: Tools like ZoomInfo, LeadGenius, and Dun & Bradstreet provide in-depth data on companies, including industry, size, location, and the technology they use. This helps you identify ideal customer profiles (ICPs).
• Intent Data Platforms: Providers like Bombora, Demandbase, and Leadfeeder offer insights into a company’s online activity and buying interests. This helps you understand their specific needs and challenges.

2. Content Creation & Personalization:

• Marketing Automation Platforms: Tools like HubSpot, Marketo Engage, and Pardot allow you to create targeted content (e.g., landing pages, emails, white papers) tailored to each account.
• Design and Content Creation Tools: Platforms like Canva, Visme, and Adobe Creative Suite can help you create visually appealing and informative content for your ABM campaigns.

3. Multi-Touch Marketing Outreach:

• Email Marketing Platforms: Tools like Constant Contact, Mailchimp, and ActiveCampaign enable you to send personalized email campaigns to your target accounts.
• Social Media Management Tools: Platforms like Sprout Social, Hootsuite, and Buffer help you schedule and manage social media outreach to engage with key decision-makers.
• Account-Based Advertising (ABA) Platforms: RollWorks, Terminus, and Demandbase offer tools to run targeted display ads across websites and social media frequented by your target audience.

4. Measurement & Optimization:

• Marketing Analytics Platforms: Tools like Google Analytics, Adobe Analytics, and Heap allow you to track website traffic, user behavior, and campaign performance. This helps you measure the effectiveness of your ABM efforts at each stage of the funnel.
• CRM Software: Platforms like Salesforce, Zoho CRM, and Freshworks CRM can help you manage your account relationships, track engagement, and measure the ROI of your ABM campaigns.

Additional Considerations:

• Sales Enablement Tools: Platforms like Seismic, Highspot, and Chorus can help equip your sales team with the resources and insights they need to effectively engage with target accounts.
• Communication & Collaboration Tools: Tools like Slack, Microsoft Teams, and Zoom can facilitate communication and collaboration between marketing and sales teams throughout the ABM funnel.

Remember, the specific tools you choose will depend on your budget, team size, and the unique needs of your ABM strategy. It’s important to carefully evaluate your needs and select tools that offer the functionalities most relevant to your ABM funnel.