ABM or account-based marketing is one of the most effective ways of delivering personalized messages to prospects. When combined with upselling, it can create a powerful avenue to supercharge your sales.
From creating target lists to automation, we show you how you can harness the power of ABM to upsell B2B tech products.
The Beauty of ABM in Upselling
Upselling is great because you don’t have to generate a new list of prospects through lead generation; you can use your existing customer base. Since they’ve purchased from you before, it is assumed that you have already developed a relationship with them, making it easier to sell to them.
Once you apply the hyper-personal approach of ABM in this sales activity, you’ll find that it makes upselling easier.
Examination of Current Data and Creating Target Personas
Your first step in using ABM to upsell is to examine the current data that you have of the customers that you have. Take a look at what insights you have right now:
- What is the one product that you can upsell from?
- Why are customers buying that product?
- What are the characteristics of those customers?
- Do they fall into other subgroups?
- What are their other relevant consumer behaviors that you have to watch out for?
Once you identify these questions, you can now start to categorize the buyer personas that you want to target with the use of account-based marketing. Create your lists based on these personas and start crafting ways of reaching them.
Create a Marketing Strategy for Each List
ABM dictates that each buyer persona has a unique personality, so now it’s essential to craft specific strategies for each list.
This means that some will need more emails than others, some customers will prefer another touchpoint to guide them through the process, and you also need to identify what kind of content they would like.
Each list needs a specific outreach strategy, assign each list an approach based on the points above, and you can start communicating with them.
Create Content That Keeps Them Going
Sending content helps you stay relevant to your customers, but the material has to be relevant to them.
Some content ideas that you can pursue are:
- Case studies on how the upsold version of your product has been helping other similar customers in the industry.
- Social proof on how the upsell has been working with different influencers.
- Results of surveys and experiments such as A/B tests using your product.
- Training guides.
- Videos on how your product has been providing solutions.
At this point, you would also need to reconsider your retargeting and remarketing options. You could create custom lists on Facebook to send targeted ads to; these ads have to be customized based on the buyer personas you are targeting.
Since you already have a list of email addresses, you can use this list on social media platforms such as Facebook.
Remember it’s not just email marketing you’re working on, you can send them your initial offer through email, but you can also send “pre-suasion” types of content on social media, and even throw in a phone call via telemarketing.
Use a holistic approach when it comes to upselling.
Also, determine where you’ll place the call-to-action for them to decide to buy.
Once the content has been crafted, it will be easy to start reaching people, but the problem will still be maintaining the chain of marketing efforts. One great way of making the process easier is to use marketing automation tools.
There are customer relationship management tools that you can use to automate email campaigns, and there are social media scheduling applications that help you follow up on your prospects automatically.
One of the biggest enemies of a good marketing plan is the lack of follow up. There are a lot of features available to people who automate, such as so some options that trigger another action once an email has been opened or replied to.
Analyze Feedback and Tweak
Your efforts won’t be practical unless you’re able to analyze the feedback you’re getting. Make sure that you track your efforts through your automation systems and systems such as Google Analytics – if you measure traffic on landing pages or web properties.
By continuing to tweak your campaigns, you can create effective methods of reaching your customers consistently.
Upselling is an effective way of maximizing the revenue that you can generate from your previous customers. You can also save a lot of money since it costs five times more to create new customers than to remarket to old ones.
Remember that the hard part of remarketing is at the beginning when you’re setting new strategies up. Make sure you use marketing automation tools to make the process easier and that you consistently analyze feedback to create better campaigns.