If you’re in marketing or sales, odds are you’ve heard of account-based marketing (ABM). It’s a method that’s been gaining popularity in the marketing industry because of its ability to deliver high levels of ROI. In fact, “companies with ABM in place generate 208% more revenue for their marketing efforts,” according to Marketing Profs. This type of marketing involves honing in on a few accounts and targeting them with a highly-personalized strategy.
Although ABM is an excellent tool for any company, small businesses stand to benefit the most. This is because “SMBs can’t afford to scatter their money across various marketing tactics and a huge pool of prospects and just hope to generate enough qualified leads to make a profit,” says Niraj Ranjan Rout, Founder of Hiver. Unlike traditional lead-based marketing, ABM enables small businesses to focus all their resources on a few high-value prospects that are likely to buy.
Besides, small businesses are likely to gain internal buy-in across departments with ABM. It can be pricey due to personalization and a multi-channel approach. With more buy-in across the company, the budget for an ABM program can come from multiple departments.
Sound like something interesting to you? Here’s our account-based marketing guide to get you started:
Develop your ICP
First, you’ll want to develop your Ideal Client Profile (ICP). An ICP is different from a buyer persona because it focuses on a company rather than an individual. It should include firmographic data such as company size, industry, number of employees, and estimated revenue plus unique characteristics such as technologies used, hiring trends, or external industry events. Doing this will help you determine the criteria for your target accounts. Take advantage of your CRM or marketing automation platform to begin searching for target accounts.
ABM is different than most marketing methods because the content and messaging revolve around the specific needs of the targeted account. It offers a highly personalized approach. For example, you could send a detailed analysis report to a company that is specific to their business. Avoid sending generic emails at all costs. Ask yourself, who am I creating content for? What content do I already have? This way, you’ll be able to find out where any gaps exist and create content accordingly.
If you’re not sure how to break the ice with a target account, it helps to mention them on a blog or social media post. Compliment them on a recent win and highlight what they did well. They’ll appreciate the praise, and you’ll be on their radar because of it.
Set your targets
After you’ve created your content, it’s time to figure out the best way to reach your target accounts. There are a plethora of options, such as email, social media, video, website, blogs, webinars, infographics, and white papers. If you’re targeting a company that values creativity, you may want to take advantage of video to grab their attention. Or, if you’re looking to reach a tech company, a white paper may be the best way to connect with them.
Your sales and marketing teams need to be aligned for your ABM strategy to be successful. ABM relies on the perspective of a sales team who understands the importance of relationship building, knows how to address a business’s pain points, and has experience working to resolve them. According to Sirius Decisions, “B2B businesses with tightly aligned sales and marketing operations achieved 24% faster three-year revenue growth and 27% faster three-year profit growth.”
Measure your results
Additionally, be sure to measure the results of your ABM campaign. Hubspot recommends focusing on coverage, awareness, engagement, reach, and influence. Here are some metrics you should pay attention to for each:
Coverage: take a look at the number of target accounts you’ve identified and reached, how much custom content you’ve sent out, the number of stakeholders or key decision-makers you’ve made contact with, the amount of account information you’ve gained
Awareness: check the number of critical accounts visiting your website, opening emails, reading blog posts, attending events, subscribing to a podcast or newsletter
Engagement: focus on the amount of time key accounts are spending with your brand and whether they’re responding to marketing activities (click-through-rates, content downloads, email response rates)
Reach: track how successful each channel was in reaching target accounts, check what percentage of campaign success is coming from your target accounts
Influence: review how fast you were able to move target accounts through the funnel and close deals with your ABM campaign compared to previous marketing campaigns
Use this data to continue optimizing your campaigns for the highest ROI.
We hope this account-based marketing guide gave you a better idea of how to implement ABM for your small business. When it comes to ABM, it’s all about targeting high-value accounts with highly-personalized content. If you’re looking for help with your ABM strategy, contact us.
You spent valuable time building a piece of content for your subscribers, maybe multiple pieces, only to realize how few are reading it. The good news is that email marketing is still the number one channel for advertising. In fact, Digital Agency Network found it is 40 times more effective than methods such as social media!
So what’s the bad news? Convincing people to OPEN these emails is not easy.
According to Campaign Monitor, the average office worker receives 121 emails per day, but only opens 17% of them…Those are tough odds to overcome.
Take this inbox for example:
It may be similar to how your inbox looks right now. People are too busy to read 100+ emails every day. They’ll focus on the ones that capture their attention from the start. Since you can’t change how people’s inboxes look, you’ll have to play the game and find a way to rise above the competition.
Better Subject Lines
A good subject line dramatically increases the likelihood of your emails being opened. In fact, Convince & Convert found a 35% increase in open rates from relevant subject lines alone. While it may be just one component of the email, it’s the first thing recipients see.
For marketers, subject lines are an opportunity to stand out above the rest, so don’t rush them. Some characteristics of a good subject line include writing with a personalized tone and staying short and sweet.
For more examples and tips on creating the perfect subject line, click here.
Send Fewer Emails
Don’t get trigger-happy with the ‘send’ button. A study from HubSpot found that 69% of email users have unsubscribed from a business because the organization sends too many emails. When people sign up for a newsletter or subscription, make sure they know what they are getting themselves into.
Be clear in the intro email about the communication cadence so they have an idea of what to expect. Is this a weekly, bi-weekly, or monthly newsletter? Without addressing this, you run the risk of becoming a nuisance–leading people right to that ‘unsubscribe’ button. Don’t become a spammer.
Wait, how do I know how many is “too many”? Glad you asked!
Segment your list of contacts and test different frequencies. For example, consider using A/B testing. A/B testing can be used to try different techniques within a small sample size of your target market.
In this case, let’s say you have a thousand contacts in your database. Take a small sample, maybe 300 or so, and split them in half. Send one-half a higher frequency of emails than the other. From there, you can look at the open rates and click-through rates to see which frequency has higher engagement.
Another quick way to offer a better experience to your audience is by asking them what they want. For instance, let them decide how often they want to hear from you. This can be done within the intro email by giving them an option to choose from: once a day, once a week, twice a month, etc.
This allows the reader to dictate your relationship with them and provides a more personalized experience as a whole.
Overcome Triggered Spam Alerts
Emails can be sent to spam without having the recipient manually ‘mark as spam.’ Email accounts such as Gmail are becoming smarter as technology continues to grow. As a result, spam detection is becoming more prominent and sensitive to emails originating outside the organization.
Nowadays, email software is designed to detect certain words that are most often found in spam. These are known as trigger words. If you use enough of these trigger words, your message will be sent to spam. That’s why it is imperative you understand how sensitive these systems are, and how to avoid overusing trigger words.
Here a few examples of common trigger words, and how to work around them:
Try to avoid using a word like “free.” This extends to the subject line, title, and body of the email. Instead, try using words like “complementary,” or “at no charge.” Doing so allows you to avoid spam detection while still getting your point across. Other common trigger words include “guaranteed,” “100% free,” “act now,” “attention!,” or any repetitive use of caps or character symbols.
Understanding these trigger words and strategizing around them will keep your emails away from the spam folder and give you a better chance to be seen.
As mentioned earlier, email is still the most useful tactic for marketers. Experiencing low open rates can be frustrating, but you can use it as an opportunity to step back and assess your strategy.
Continue to optimize your subject lines, frequency of sends, and keep track of potential trigger words, and you will have a better foundation to analyze your current email strategy to see where improvements can be made.
Interested in more business tips like these? Subscribe to our blog or contact us today to let us help strategize and increase your inbound leads.
Without the proper tools, pinpointing the engine behind company growth — sales, marketing, or the two working in tandem — is an arduous task. In this article, we explore the value of the HubSpot reporting add on tool.
If this is you, you’re not alone. According to HubSpot’s “State of Inbound 2018” report, 40% of surveyed companies stated that their top marketing challenge was proving the ROI of marketing activities.
Similar issues come with sales. Which representatives are closing the greatest number of deals? Are cold emails working? If you’ve been there, then you’re at a point where in-depth reporting that closes the loop between marketing and sales is a must.
HubSpot comes with standard reporting capabilities, but to drill down to metrics unique to your business, you’re going to need HubSpot’s Reporting Dashboard Add-On on. Priced at $200/ month, it’s not an investment to be taken lightly.
With that price tag, is it worth it? Read on to find out what the tool offers, why it’s unique, and some potential drawbacks.
So, what exactly is HubSpot’s Reporting Dashboard Add-On? It’s a tool for building customized reports in a way that’s organized and easy to understand. You can then syndicate your findings across your organization. Let’s break these components down:
Building Customized Reports
With HubSpot’s Reporting Dashboard Add-On on, you can create a custom visual look at your data that answers virtually any sales or marketing related question. Want to know how many marketing qualified leads became sales qualified leads this month? Done — with the conversion rate in plain sight.
You can choose from pre-made reporting templates or roll your sleeves up and build reports from scratch. Choose from an array of displays; pie charts, bar graphs, donut charts, and more. Data can be viewed in real time, so you’re never left wondering how to pivot your sales and marketing efforts to achieve optimal results.
Organizing Your Reports
Of course, with endless options for creating reports, you need a way to organize them. This is where dashboards come in; Create up to 200 dashboards which can house up to 10 reports each.
Now, everyone in your company can have visibility on aggregated metrics that matter to them — whether that’s a high-level overview of marketing performance or the amount revenue a specific sales representative generated last quarter.
Syndicating Your Reports
Don’t let critical reports go unnoticed. The HubSpot’s Reporting Dashboard Add-On on allows you to send reports to your team’s inbox on customized timelines. Whether it’s daily, weekly, or monthly — your team will always be aware of their progress.
Why It’s Great
You don’t need to be a data scientist to understand what you’re looking at. It’s all in one place — organized and in the format that is most useful and convenient for you.
Visual reports allow you to understand trends at a glance, and precise numbers provide a more detailed view of progress.
Enables Sales and Marketing Alignment
When marketing and sales work together, the possibility and fear of a lead slipping through the cracks dissolves. As a result, the ROI of marketing efforts increases, your sales team runs more efficiently, and there is visible top-line growth.
In fact, in organizations where sales and marketing are aligned, marketing acquired leads are 67% more likely to close.
How does this connect with the add-on? With the tool, you can create a report where you can see how many sales qualified leads to become opportunities. If this conversion rate seems a bit low, you have a jumping off point for correcting the problem.
Because you can easily build custom reports and dashboards, you have unhindered access to metrics that matter to your business. Say goodbye to scouring your arsenal of tools to find the data points you need. They are neatly and conveniently packaged to be accessed at will.
Drilling Down Into Data
With customized reports, you can’t access granular data on broad metrics. For example, let’s say you build a report that shows how many leads fall into lifecycle stage for the current month. You can’t just click on the sales qualified lead bar to see who these leads are. For this, you will need to create a list where you will define the qualifications for a lead to appear on that list.
$200 per month is a lot — especially when tools like Google Analytics are free. To decide if it’s worth it, you need to assess why you want the tool.If you are interested in granular data such as bounce rate, entrances, the assets driving conversions, and so on, then you’ll be just fine with Google Analytics.
However, if you have grown to a point where you need to close the loop on marketing and sales efforts, then the HubSpot add-on is worth it. This brings us to the answer to the question that started this blog: Is HubSpot’s Reporting Dashboard Add-On on worth the price?
The tool serves as a single source of truth that encourages visibility throughout your company. Instead of just being a tool on website performance alone, like Google Analytics, it’s the be all end all tool for measuring the health of your organization.
The main drawback is the price, but if you strike up a deal with just one lead that would have slipped through the cracks otherwise, then it’s already paid for itself.
So, the answer is yes. Investing $200 per month for the add-on is worth it.
Crafting email subject lines for sales has become an art. To make your email stand apart from the hundreds in your prospect’s inbox, you need to capture his or her attention immediately. Easier said than done, right?
We’ve compiled a list of tried and true email subject lines that are favorites of industry professionals. Tweak the content, press send, and watch your open rates increase.
Cold Email Subject Lines
When a prospect hasn’t heard from you yet, it’s hard to get them to take the bait. Here are some examples of email subject lines that will help you score that initial click.
“Erica Banks told me to drop you a line.”
If you have a connection with your prospect, mention him or her by name. Your prospect is more likely to open the email with this trust-building information. Be sure to tell your connection before reaching out in case your prospect asks for verification.
“Have you been to the Gotham Bar & Grille on 12th St?”
This casual question is a great way to start a rapport with a prospect. Whether or not you’ve been to the restaurant or venue (preferably in their city of residence), it’s a fun way to begin a conversation. Once you’ve started talking, ask if a meeting at the said location would be possible.
“So, I hear you are a master in data analysis”
Like the restaurant tactic, this method is likely to catch your prospect’s eye. Why did you ask about their specialty? Is there an opportunity related to it? This email subject line shows you did your research, but ensure you have a legitimate reason for mentioning personal information.
“Josh, did you meet your advertising goals last quarter?”
This email subject line is successful for two reasons. It mentions the recipient’s name, possibly increasing the open rate by up to 22.2%. Then, it asks a pertinent question about his job. Tweak the question for your industry; a health tech salesperson might write “Hi [name], are you frustrated with your supply chain?”
Follow-up Email Subject Lines
Whether you’re sending another email after receiving no response or checking in after an initial call. Here are a few ways to make that second contact as smooth as the first.
“Here’s that case study I mentioned”
If you referred to some kind of information, like a case study, article, or blog post in your first email or call with the prospect, that’s a great reason to follow up. You’re reminding the prospect about your initial conversation and providing value at the same time.
“Jane, I thought you might like this new Forbes article”
This is an information-packed follow-up message, especially useful if you didn’t make contact the first time around. You’re mentioning the prospect’s name and letting them know that you want to provide value.
“Can I help you meet your Q2 goals?”
Every professional has quarterly and yearly goals—and feels a lot of pressure to meet them. Offering help with this critical project can quickly catch a prospect’s eye.
“Would you like to spend one less hour a day on email?”
This is another email subject line that can be adjusted for your industry. Boil down your product, determine real-world value it can provide for your prospect, and feature it in the subject line.
Last-Chance Email Subject Lines
Maybe your prospect hasn’t answered any of your emails or has just gone radio silent—try to revive that relationship with these email subject lines.
“3 steps and we can get started”
People love numbered emails (and articles and lists), so a number is a great way to start an email. This subject line implies that you two have a rapport, so even if you haven’t actually spoken to your prospect, they may be intrigued enough to see what’s going on.
“15 minutes on Thursday?”
It’s hard for anyone to ignore an email about a meeting. Your prospect might think you’re waiting on their answer to complete your schedule or may be interested in hearing your rapid-speed pitch.
“Ready to part ways?
Sometimes honesty is the best policy. If you haven’t received a single message in return from a contact and need to know if you should stop wasting effort on them, this message might be your best option. If they respond with a negative or simply don’t respond, you’ll know their answer.
“I need to apologize for something”
If you are willing to do whatever it takes to get a certain prospect to click, think outside the box. Other clickable options include “HBO Go Password?” (a favorite of HubSpot) or a classic: “Like cute cat videos?” You’ll get more clicks, but it’s up to you to craft creative content in the email body that lives up to the subject line.
Interested in more business tips like these email subject lines for sales? Check out our blog.
If you had to entice a customer to buy your product using one sentence or less, what would you say? This is the question you should ask yourself when developing a value proposition. It can be difficult to narrow down your product’s value to 20-30 words. Luckily, there are numerous tools available that will take you through a step-by-step process of developing a value proposition. These tools can help you prioritize important information, organize your thoughts, and even bring you to a new perspective or idea that will enhance the way you communicate your product or service’s value to customers.
Here are a few tools to help you develop a strong B2B value proposition:
Bain & Company created a model that organizes valuable elements that B2B organizations can offer customers. The model’s roots can be traced back to Abraham Maslow’s hierarchy of needs from 1943, which argues humans are motivated by both basic and complex needs. However, this model focuses on people’s motivation for buying products or services. The elements at the bottom are easy to measure, such as acceptable price, while the elements at the top are more objective and difficult to quantify, such as reputational assurance.
Strategyzer, known for their business model platform, offers a canvas tool for companies to create value propositions. It’s composed of two sections, a customer profile and value map. The customer profile describes the jobs your customers try to get done (these can be functional, social, or emotional). In addition, this section highlights the pains customers experience when trying to get the job done and the gains they hope to achieve.
The value map lists the products and services your value proposition builds on. In this section, you should ask yourself, how does your product minimize or reduce pain points? How does it maximize outcomes/benefits? The best value propositions come from connecting your customer profile and value map. The customer profile may contain countless jobs, pains, and gains but the value map helps you highlight which ones to focus on.
This trademarked tool is a product of Futurecurve’s research into human behavior. The six elements are part of an iterative process that leads to a customer-centric value proposition. The process is centered around identifying your target market and how your product or service provides value for that audience. However, this value is strengthened by determining which benefits are most important, how they offer differentiation, and proof to support your claims.
Futurecurve outlines a number of positive outcomes of undergoing this process to create a value proposition. To name a few, companies gain a clear profile of buyer personas, an understanding of what offerings to take to market, and evidence on how they deliver value. For more insights on creating a value proposition, you can check out Futurecurve’s book “Selling Your Value Proposition: how to transform your business into a selling organization.”
If you’re up to date on what’s happening in the marketing industry, you know that consultancies have increasingly become a threat to traditional agencies. With the popularity surrounding digital technology, there has been a shift away from the creative approach of selling “big ideas” and a move towards data-driven marketing. To dig a little deeper into this, let’s take a look at the differences between an agency and a consultancy.
A marketing agency has the ability of handle all aspects of the advertising process. This includes strategic planning, creative, and production. Some agencies are full-service, meaning they offer a complete approach to marketing and advertising initiatives. Other agencies may specialize in a particular creative service, such as graphic design, video, or social media.
On the other hand, a marketing consultancy has expertise in strategies to engage customers and improve business opportunities, both through retaining existing clients and attracting new customers. Their focus is to help companies achieve defined and measurable goals. A consultancy typically helps businesses develop inbound strategies, implement marketing tools, drive traffic, generate and nurture leads, produce content, and improve SEO.
A marketing agency is going to be more focused on executing creative. They are expected to know the best way to shoot a video or create a beautifully-designed website. When it comes to working with an agency, clients typically already have a marketing strategy in mind. For example, they may want to launch a new product or rebrand. Either way, there’s a clear objective and it’s the agency’s job to find the best way to execute it creatively.
Because of the conceptualization involved in designing creative assets, the turnaround time for an agency is longer than a consultancy. However, the main thing that separates an agency from a consultancy is their role in the marketing process. A consultancy will develop a plan to help your company grow, while an agency expects you to already have that figured out. They are the ones who provide the creative assets to support the project plan.
If you’re using a consultancy, it’s typically because you have a problem that you’re not sure how to solve. This could be anything from “why am I not getting traffic to my website?” to “how do I start generating more leads?” It’s a consultant’s job to identify a business-oriented solution to problems like these.
The consulting process begins with researching a client’s company and familiarizing oneself with their services, buyers, and competitors. Consultants immerse themselves in their client’s industry so they can better understand their goals and pain points. They take a data-centered approach to marketing, relying on analytics to inform their strategies. You can expect a fast turnaround from a consultancy as they are skilled in driving performance and producing quick, measurable results.
Which is right for you?
Now, you may be sitting there asking yourself, which option is right for me? It depends on your company’s needs. If you’re looking for quick results that drive revenue and growth, you should go the consultancy route. But if you’re looking for support in executing creative initiatives, an agency is the right pick. Looking for a little of both? There’s a third option- a hybrid agency/consultancy.
SmarkLabs is a prime example of this. We are a full-service marketing operation that create and execute marketing plans. We have a team of marketers who are skilled in growth strategy and a team of creatives who are experienced in graphic design and videography. Because of this, we’re able to handle every aspect of the marketing process and create consistent campaigns that produce reliable results.
The line between agency and consultancy is becoming more and more blurred. Consultancies are beginning to offer branding and advertising services while agencies are moving into digital technology. In terms of the future of marketing, many have argued that consultancies will dominate because the way people interact with brands is changing. It’s no longer about releasing big, flashy ad campaigns, but finding small and truthful ways to engage with customers and create personalized experiences.