Business as Usual Is Canceled.
Your Marketing Plans Don’t Have to Be.
If you didn’t get the memo, handshakes are likely over. Dr. Anthony Fauci, the nation’s guru on all things COVID-19, believes shaking hands won’t fly in a post-Pandemic world, where concerns about germs outweigh previous social mores. There’s no doubt that the coronavirus has turned “business as usual” on its head, transforming how people work and connect. Concerns surrounding COVID-19 have also canceled industry tradeshows, forcing companies to rethink their marketing efforts. And even when industry tradeshows are reinstituted and exhibit halls reopen their doors, attendance may be low, many experts fear. After all, why would people risk the possibility of becoming infected by COVID-19 or another ailment when they can obtain the same information from the safety of their homes? Hence, digital marketing—and, more specifically, account-based marketing (ABM), has never been more relevant. ABM is more than just a buzzword in digital marketing—it’s a strategic way to reach consumers at the individual level. With ABM, experts say, marketers can direct the right message to the right audience at the right time. No longer do companies need to cast a wide net and see who they catch. Instead, they need to cast a narrow net using the highest-quality bait. Here are three ways to hone your message in today’s climate:
Fish Where the Fish Are
Forge partnerships with the right people—those who others look to as the authorities in their respective fields. Take trade publications, for example. Nearly every industry has a publication catered to it—from food service magazines to those targeted to respiratory therapists. Instead of throwing the same message at a host of different groups and seeing what sticks, smart marketers can align themselves to the specific audience they want to target via ABM. And they can leverage publication partners to achieve this.
Steal Market Share When Your Competitors Hit Pause
Buyers may not be purchasing right now due to perceived economic instability, but they’re paying attention. They’re researching products they want to buy when the smoke clears. And when it does—which it inevitably will—they will prioritize the companies who have stuck by them throughout the crisis. Need proof? Just look at the success of Kellogg’s, which gained market share over rival Post by its continued push to advertise during the Great Depression. When the market rebounded, Kellogg’s became the bona fide cereal king—a post it still holds today.
Minimize Your Ad Spend and Maximize Your ROI with ABM
Information Technology Services Marketing Association researchers found that of marketers who measure ROI, 87% believe that ABM surpasses any other marketing investment. It’s a percentage that holds significant value as companies look to cut costs and maximize value in today’s shaky, pandemic-laden landscape.
Yes, the days of face-to-face marketing may be long gone—or at least put on pause for the foreseeable future. But companies’ marketing messages don’t have to be. By realigning their marketing strategies to embrace ABM, companies can boost their ROI and better navigate the new normal we are all living in. Meet ABM: Your new digital handshake.