Three ways to reap the benefits of ABM in professional services

Many professional services firms struggle to unlock the full potential of key client programs. Despite having established systems, these programs often fall short of delivering the expected results. 

In this three-part series, we’ll explore how leveraging Account-Based Marketing (ABM) in professional services can drive significant growth and address the challenges that have prevented firms from adopting ABM until now. 

This week, we’re tackling alignment and buy-in. 

To maximize the value of key client programs, it’s essential to align your marketing efforts with your firm’s broader strategic goals. This is crucial to effectively integrating ABM in professional services. 

But organizational silos often hinder progress. As four-time CMO Dr Charles Doyle candidly explained at Rethink ABM – London, “We’re addicted to segmentation and silos in professional services. The biggest inhibitor of ABM is the structure of the firm.”

Our 2023 Global State of ABM Benchmark Report revealed 85% of marketing programs see improved engagement with key accounts through ABM, and 74% report ABM drives revenue growth. This highlights the effectiveness of ABM when it’s done right.

ABM provides a strategic advantage that many professional services firms have yet to fully harness. By focusing on the client rather than your service or sector you can develop personalized, high-impact interactions compared to traditional, broad-based approaches. ABM will breathe new life into key client programs.

"Utilizing ABM in professional services gives firms a golden opportunity to make their key client programs more purposeful, relevant, and vibrant."

Here are three steps to achieving alignment and buy-in.

Conduct a diagnostic assessment to evaluate your ABM maturity. This will quantify the effectiveness of your ABM program and ensure your strategy is robust and aligned with your broader business objectives. 

Gather insights from key stakeholders – fee earners, marketing, business development, and the knowledge team. An external facilitator can identify gaps and opportunities, offering a clear picture of your ABM program’s maturity and areas for improvement. 

Document and map all client planning, measurement, and reporting processes. Share these details across the organization to create a foundation for collaboration and align the team with a unified vision. Develop annual roadmaps and tailored key client playbooks to provide actionable frameworks. This proactive approach enhances consistency by ensuring everyone is working towards the same goals.

Establish robust governance structures, such as a Global ABM Council and/or Regional ABM Boards, to elevate your ABM program’s impact. A Global ABM Council can oversee and coordinate ABM efforts across the organization to ensure they are aligned with business objectives, backed by executive support. Regional ABM Boards will complement this by addressing local market needs and customizing strategies.

These structures promote alignment, accountability, and innovation. Through regular discussions within these bodies you can advance best practices and keep your ABM efforts at the forefront of industry trends. For example, insights from our recent  Global ABM Program Leaders Council roundtable uncovered valuable strategies for scaling ABM programs.

Formalizing these roles with public sponsorship and an ABM Charter Statement will set clear expectations and hold stakeholders accountable.

In the next article we’ll explore strategies for engaging the C-suite, overcoming barriers to reach senior executives, and leveraging tailored thought leadership to drive impact.

Take our full Account-Based Marketing Maturity Assessment for practical advice on how you can get better ROI from ABM. Contact andrew.rogerson@momentumitsma.com for more information.