The fintech industry is getting increasingly competitive as more innovative financial companies start popping up to appeal to younger, digitally savvy consumers. Furthermore, as buying behaviors and expectations change along with an increasing number of individuals being involved in the B2B decision-making process, marketing for Fintech companies has become quite challenging.
Account-Based Marketing (ABM), however, can solve these problems by helping target the best and largest accounts and selling to them directly using highly personalized marketing campaigns. With ABM strategies, fintech companies can attract higher quality leads that help them better achieve their goals and experience growth.
ABM, which is defined as a focused growth strategy, has shown to be an effective marketing solution for improving lead acquisitions and closing deals. 87% of marketers believe that ABM outperforms their other marketing investments, 91% report that ABM accounts have bigger deal sizes and 84% say ABM significantly boosts account relationships.
Attracting and nurturing high-quality leads is essential for any B2B marketing strategy, but it is especially crucial for the financial industry and fintech companies. ABM helps to target key decision-makers and focuses efforts on key accounts more likely to generate higher revenue.
Buying decisions have become more complex as the number of stakeholders who are part of the buying decision has increased. Thus, for fintech companies to close deals, they need to establish relationships with the entire buying committee within the account. ABM strategies focus on highly personalized messaging that speaks directly to those key stakeholders for more effective campaigns, rather than trying to appeal to a broader audience.
Some of the many ways that ABM in fintech can drive growth and revenue include:
ABM has become a highly valuable tool or methodology for fintech companies as it helps them tailor their marketing to the very specific needs and goals of their target accounts. Some best practices for implementing ABM in fintech include:
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