Strategic Execution and Approach
In collaboration with TRY, Enova has implemented a multi-year ABM strategy targeting companies eligible for financial support in sustainability projects. The primary goals of this ABM campaign are to raise awareness among qualified companies, prompt timely applications, and provide helpful reminders and tools throughout the application process. Leveraging HubSpot’s email and marketing automation features alongside LinkedIn's ABM capabilities, Enova has been able to efficiently reach its target audience. The result has been a notable increase in relevant applications and a growing database of contacts receptive to ongoing communications.
The ABM strategy adopted by Enova is a growth approach that traditionally merges marketing and sales efforts to create targeted, personalized customer experiences. Although Enova doesn’t operate a conventional sales team, this ABM model effectively bridges marketing with Enova’s support team, emphasizing the shared goal of attracting qualified applicants. Unlike traditional lead-generation tactics, ABM begins by aligning with sales targets and calculating the number of qualified leads necessary to meet overarching goals, allowing for clear measurement of return on investment by comparing marketing spend against application outcomes.
The ABM approach was especially well-suited to Enova’s objectives, as it allowed precise targeting of specific industries most compatible with Enova’s grants, increasing the likelihood of applications from highly qualified companies.
Results
Through this ABM approach, Enova shifted its focus from broad-sector marketing to highly targeted, company-specific outreach. This shift enabled Enova to use its marketing budget more effectively, leading to impactful outcomes:
- 60% reduction in marketing spend compared to previous periods, maximizing budget efficiency.
- 30% increase in relevant applications from companies targeted by the campaign, indicating successful outreach to well-matched companies.
- 60% average coverage within the target audience, achieving high visibility among priority companies.
- In the LinkedIn ad campaigns, the use of the three-tiered TOFU-MOFU-BOFU content structure allowed for progressively targeted communication that maintained engagement and optimized the customer journey from awareness to application.
