You've likely heard of account based marketing (ABM)—you might even be using it as a core strategy to market your cannabis business to the right people. That wouldn't surprise us as 97% of marketers believe ABM generates a higher ROI than other marketing strategies. But did you know that ABM best practices can be (and should be) used to tailor your public relations (PR) and media outreach? The results are the same—you can expect a larger ROI when hyper-personalizing and tailoring your pitches to the right people at the right time.
ABM is a targeted marketing approach that focuses on a specific set of high-value accounts or audiences. It involves a deep understanding of the target audience, their pain points, and key decision-makers within an organization. By creating personalized and relevant content and messaging, ABM aims to build relationships with these key audiences to ultimately drive revenue.
PR, on the other hand, is the practice of managing the spread of information between an organization and the public. It involves building relationships with journalists, influencers, and other key stakeholders to gain positive media coverage, amplify brand awareness, build trust, and establish credibility.
While PR and ABM may seem like different tools, their success relies on a foundation of commonalities. Both rely on building relationships with key stakeholders and creating personalized, relevant content and messaging. By following ABM best practices and approaching PR and ABM strategies with a similar mindset, your PR efforts will gain more traction and create a greater impact for your brand and business.
Here are a few ways that your cannabis company’s PR efforts will benefit from applying ABM best practices:
Targeted Outreach Instead of sending out generic press releases to a broad list of journalists, PR teams can use ABM techniques to identify the specific journalists, publications, and media outlets that are most relevant to their target audience. This increases the likelihood of earning media coverage that is actually of interest to your target audience.
Personalized Messaging ABM is all about creating personalized messaging that speaks to the unique pain points of each target account or audience. Cannabis companies should use this approach when crafting press releases and pitches to journalists. By tailoring the messaging to the specific interests of the recipients, cannabis brands and businesses will significantly increase the chances of earning media coverage and being picked up by the right publications and outlets.
Measuring Success ABM is focused on driving revenue, and as such, it is essential to measure the ROI of the strategy. Cannabis companies can benefit from this focus on measuring success by tracking the impact of their PR efforts on target accounts. This will help them understand which PR tactics are most effective in driving revenue.
PR and ABM are closely related, and both are essential components of a comprehensive marketing strategy. By following ABM best practices, cannabis-focused PR efforts can significantly help drive the right kind of brand awareness and reach to drive revenue for their organization.