The term account-based marketing (ABM) is a business marketing strategy which concentrates resources on a set of target accounts in a market. It uses personalised campaigns designed in order to engage each account, basing the marketing message on the specific attributes as well as needs of the account.
In addition, ABM takes a more holistic view of marketing outside just lead generation. Marketing to existing customer accounts to promote upselling and cross-selling is one of the keys to achieving the most value from your largest accounts.
Account-based marketing is not a new concept however it has recently experienced a resurgence owing to evolving technology as well as a changing landscape. The application of an ABM strategy can assist with improving marketing ROI, drive attributed revenue, generate a lot more conversions and qualified leads, as well as align sales with marketing.
B2B Marketers Tend To Focus On Leads More Generally
This in order to appeal to as many organisations as possible, however that doesn’t result in the best ROI. In the past, it was challenging – as well as expensive – to scale ABM initiatives owing to the high level of personalisation it requires.
With today’s new and developing technology, it’s now easier and increasingly more affordable to scale ABM to a variety of organisations. Marketers across the board are applying an ABM strategy within their team in order to drive increased value outcomes.
Marketing is no more a one-way street. You cannot just shove promotions to your prospects. It is necessary for you to engage in an active dialogue and ABM allows you to do that with unparalleled precision.
Account-Based Marketing And Inbound Marketing
Account-based marketing – as well as – inbound marketing have the power to make waves (the good type) for your organisation. You could be wondering, “How precisely does this partnership work?” ABM is a highly-targeted strategy and inbound marketing is more foundational — the methodology and growth strategy allows you in order to attract customers through the creation of valuable content, SEO as well as a delightful customer experience.
As opposed to interrupting your target audience and customers (as you would do with outbound marketing), inbound marketing gives you the opportunity you to more organically provide your audience with the information that they want when they want it. Inbound marketing sets the basis for a strong ABM strategy by allowing for highly targeted and efficient resource allocation of high-value accounts.
What Are The Advantages Of Account Based Marketing?
ABM is an increasingly popular approach for B2B companies which target larger accounts. For companies which are trying to sell into large accounts with long sales cycles as well as large deal sizes, ABM offers many benefits over other marketing approaches. They include the following.
Personalised Marketing Approach
Rather than a generic approach, marketers create personalised messaging for target accounts, taking what they know about their customer and then tailoring the creative assets of their campaign to the customer’s particular attributes and needs.
Sales and Marketing Alignment
ABM encourages marketing teams and sale organisations to work together, pinpointing target accounts, crafting customised campaigns for them as well as working together to align as well as move individual accounts through the pipeline, both before as well as after lead conversion.
Shorter Sales Cycles
Major buying decisions involve multiple stakeholders. This typically slows down the sales process, as it starts at a lower level in the company and moves slowly towards the primary decision maker. In ABM, the length of the cycle is shortened as all prospects are nurtured simultaneously.
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