ABM strategies are designed to produce high-quality leads that convert quickly. Social media is here to help with that.
You wouldn't use a megaphone to whisper to someone. So you might be skeptical when I say that you should use social media to help boost your ABM strategy. After all, social media is intended for a wide audience, while account-based marketing (ABM) is designed for an individualized experience.
But the two aren't mutually exclusive, and, in fact, social media can be a boon to the thoughtful ABM marketer. But how?
We're going to take a look at the three main goals of an ABM strategy and how social media can help you reach them. We'll even include some social media-related software that can get you there even faster.
What is an account-based marketing (ABM) strategy?
An ABM strategy is when you treat each lead like their own market. It's the peak of personalization. ABM strategies center on the idea that you focus entirely on the high-quality leads at the top of your marketing strategy, building a deep relationship that helps with conversion and retention.
How social media can help accomplish the goals of an ABM strategy
1. Social media can help you reach valuable leads
Account-based marketing is all about focusing on high-value companies and the decision-makers at each of those companies.
What can social media do here?
Creating multiple social media accounts gives you a chance to target different personas within each company.
By looking at followers, likes, comments, and other engagement metrics, you'll have a sense of which accounts gain the most traction.
Various social media platforms will also allow you to segment your message.
For example, if you're on Facebook and you want to post something that will appeal to leads in a particular region or industry, use Facebook's segmentation tool to send a message to just those leads. This way, you're not sending messages that make other leads feel alienated, but you're making those targeted leads feel much more appreciated and seen.
Either way, leads will feel like you're taking the time to respect their time.
How can software help?
Invest in social media marketing software. It's designed to help you create, track, and manage your various social media campaigns. This will help you not only generate content but also see how effective it is at reaching your high-quality leads.
2. Social media helps move leads through the funnel faster
The longer a lead stays in the funnel, the more likely they are to fall out.
This is why ABM attempts to blend marketing and sales to create a seamless funnel that guides leads through the process, shortening timelines and increasing conversion rates.
It accomplishes this in two main ways:
Providing content geared towards every stage of the funnel.
Targeting leads more likely to convert (and more sure of what they want).
What can social media do here?
Social media can provide a platform through which to promote all of your content. If you've implemented an influencer strategy, your partners can promote your content as a means of generating increased interest.
You can also use social media as a means of identifying the personas of those more likely to engage, and more likely to convert. By creating multiple accounts with different targets in mind, and segmenting your audience accordingly, you can start to separate the wheat from the chaff.
As you notice different engagement patterns emerge, you'll be able to then target the rest of your marketing strategy toward the more engaged audience.
An added bonus of social media is that you're able to share reviews and comments. According to a Gartner survey, 29% of buyers consider reviews on social media at some point along the funnel. In fact, at the evaluation stage, small businesses rely on reviews on social just as much as they rely on vendor-provided information.
Using social media to share reviews and comments will help increase your trustworthiness and demonstrate value much more effectively. You can then guide your leads quickly and with more confidence through the funnel.
How can software help?
Consider investing in social media analytics tools. They offer the ability to pull, organize, and discover trends in the data of lead interactions with your content and social media profiles. This will help you discover the high-quality leads that ABM requires to succeed.
3. Social media makes your ABM strategy even more cost-effective
Outside of the product itself and overhead, marketing is where a company spends its money. Sales is where it makes it back (and then some, hopefully). It's important, then, for companies to know where that money is going to, and how effective they are at getting it back.
Account-based marketing gives you the means of tracking which channels are costing you a lot of money with little to show from it in terms of quality leads or conversions.
ABM is also responsible for higher returns in 85% of cases, according to Optimizely.
What can social media do here?
Social media helps cut costs in three main ways:
It highlights higher-quality leads through their levels of engagement, making targeting easier and more effective.
It costs as little as none dollars, meaning increased brand awareness for nothing.
It lets you test messaging for different audiences before you use that messaging in more expensive channels, preventing costly potential missteps.
How can software help?
Social media management software helps you both publish and track content. Many of these products also allow for A/B testing of various messages so that you can continue to make this and other channels more impactful. This will ultimately save you money by making your marketing as targeted and efficient as possible so no resource is wasted.
Still not convinced about the benefits of social media to your overall strategy?
If you've still got doubts, try reading some of the below articles about just what a social media presence can do to support the rest of your marketing strategy:
Brand Advocacy Programs: The Secret Weapon of the Burgeoning Small Business
6 Secrets to Mobile Content Creation That Will Grow Your Business
Intent-Based Marketing 101: Analyze This (Data, to Better Know Your Customers)
Depending on your needs, you can hire an agency for help with your social media marketing. Check out our hiring guides for social media marketing agencies and digital marketing agencies to determine which one would be a better fit for you.