Almost any person involved in sales will tell you that the
concept of Account Based Marketing (ABM) has been around for a long time. However, of late, the term has come into
prominence as organizations move from a stand-alone sales philosophy to building
a strategy around the integration of sales and marketing efforts.
And in a membership context, the synergy offered by Account
Based Marketing is very appropriate for business-to-business membership marketing
efforts particularly for trade associations with high dues paying members. That is because Account Based Marketing is
designed to establish and deepen engagement when the purchasing decision
involves a lengthy sales cycle and multiple decision makers.
It is not surprising that a company is not normally going to
make a decision to join a membership organization for thousands of dollars in
dues payments based on a one time contact or from a single letter or email
effort. But the regular communications,
relationship development, and prospect knowledge built into Account Based
Marketing program empowers this process.
Here is how Account Based Marketing works for membership
recruitment.
The first step is to identify prospects that fit into the
membership profile and capture them in a database. The records for these companies or
institutions can be leased from third party data compilers. But at this point these organizations may
have little or no awareness or even interest in membership. So a process is needed to turn these generic
listings in a database into warm prospective members using both new and classic
marketing efforts. This is where the integration of sales and marketing
is critical and both outbound and inbound marketing are effective.
·
Outbound
– Instead of using outbound efforts in the traditional method to close the
sale, with Account Based Marketing these channels are used to build awareness
and support a sales cycle. Direct mail
can reach almost everyone even if you do not have an email opt-in for
communication. Email can present highly
targeted messages and be automated to respond to a pre-set deployment schedule
or the recipient’s clicks with relevant follow-up content. Telemarketing can be used for scheduling an initial
conversation or a face-to- face appointment with a prospective member.
·
Inbound
– Using online tools provides the opportunity to stay in front of
prospects. Remarketing presents content
through Google and Facebook to prospects who have visited your website offering
them additional information. And Google
and Facebook custom audiences display ads driven by emails in your database
pushing online ads to the very people you are in conversation with about
joining. When a prospect raises their hand by clicking on an ad and requesting
content from, it may indicate that they are ready to buy.
As these marketing interactions take place, the responses can be catalogued in the prospect database. Additional points of contact can be added. Notes from conversations with prospects can be recorded. And third party data can be appended. This data builds a profile of the decision makers, needs, and timing for a membership offer.
All of these marketing efforts keep the membership product in front of a prospective member and invites them to accept a sales presentation that is built on a knowledge base offering a high value membership proposal to the decision makers of a company. It turns the process from traditional cold calling to a solutions based conversation with a prospect. And even if the answer to a sales message is “no” it maintains ongoing communications so the membership is available when the prospect’s need or interest changes.
Here is one example of how effective Account Based Marketing
can be used effectively. One
association, the Society of Cable Telecommunications Engineers Inc. (SCTE), following
this approach established a Corporate
Alliance Partner Program to allow their individual members to self-select
into a managed accounts relationship as companies. Once a firm becomes an Alliance Partner, the
association provides staff members to serve them as account executives who maintained
close, ongoing relationships with these companies. With this change, over a two
year period, SCTE
saw training revenue to double and
membership to grow by 40%.
When the economics make it possible to combine both marketing
and sales efforts, the tandem can be a powerful tool to produce not only more
members, but members who have a long-term highly engaged relationship with an
association. This is the ultimate goal
of using Account Based Marketing as a membership marketing strategy.
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