Account-based marketing or ABM is a strategic B2B form of marketing that allows organizations to identify individual prospect or customer accounts and treat them as markets of one. As most companies want to gain the most customers in the least amount of time, ABM is a B2B strategy that aims to ensure sales and marketing work together to target a set of clearly defined accounts.
ABM is a solidly established practice and research shows that more companies are investing in account-based marketing to garner qualified leads. Having an ABM strategy in place as part of your company’s marketing efforts has proven to help increase revenue in B2B companies.
In some regard, you may be using ABM without even knowing it. But the buying team at such accounts targets the account holder using account based marketing best practices which include customized programs, personalized messages, and relevant content. By treating accounts individually, organizations are more likely to see success with their B2B marketing efforts because such targeting:
Is considered more relevant than untargeted marketing
Can more accurately address its audience
Allows marketers to engage with deals at an earlier, higher level
Delivers compelling content to customers
Brings account strategies and marketing activity together
This form of marketing, however, demands that an organization's marketing and sales teams are aligned. Business marketers, who generally connect with people one-on-one, and sales representatives, who generally sell to B2B organizations or groups of people must ensure that they are on the same page. It is not leads that they must be focused on, but accounts. From advertising to print mail to content creation, marketing and sales must work together to understand the needs of the account and deliver messaging that matters to the client.
WHY ACCOUNT-BASED MARKETING MATTERS?
Since ABM is targeted on individual accounts instead of group accounts, it allows B2B marketers to focus their time, energy, money, and resources more efficiently to be the most effective. Thus, resources are not wasted on ineffective campaigns and programs are optimized, personalized, and relevant to target specific accounts.
When ABM is effective, it drives the business bottom line. A consistent touch and positively charged targeted message can ensure high revenue potential and boost sales and marketing exponentially. With a focus on a few important accounts, the opportunity exists to strategically add to your bottom-line.
Sales and Marketing Alignment
ABM is likely one of the better ways to ensure sales and marketing teams are on the same page. With ABM, marketers must think like salespeople – how to target accounts, drive interest, and generate revenue.
Clear Tracking and Measurement
When it comes to analyzing and measuring the performance of a campaign, it is easier to make decisions by looking at a smaller set of accounts than a vast group set of accounts.
HOW CAN BYTHON HELP?
Whether account-based marketing is your only strategy or part of a wide range of strategies, Bython can help you meet your goals by:
- Identify and prioritize your target audience.
- Perform market research to become familiar with each account.
- Develop personalized and engaging content for maximum effectiveness.
- Help you pick the right channels.
- Execute your campaign.
- Evaluate, analyze, and measure key metrics.