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What is Account-Based Marketing ?
Account-based marketing is a strategic B2B marketing approach where in the marketing and sales resources are focused on specific high value accounts known as target accounts, rather than on particular individuals.
Although this approach isn’t a new one, yet it hasn’t been utilized in the past due to the lack of optimal resources for its success. But with the emergence of technologies like predictive analytics, CRM & Marketing automation, the major tasks of mining potential customer data and personalizing messages for better engagement have been simplified thus, facilitating greater possible adoption of ABM.
Account-Based Marketing vs Traditional Marketing
The traditional method of demand & lead generation differs greatly from the tactics adopted in Account-based marketing.
Account-Based Marketing concentrates all its resources on the high yielding accounts hence it outperforms traditional marketing in terms of ROI.
ABM is laser focused on the high value accounts whereas Traditional marketing is a broad spectrum marketing approach where targeting is not as specific.
Account-Based Marketing helps build a stronger brand image and lasting relationships with target accounts by delivering personalized messages whereas traditional marketing needs a lot of effort to achieve the same.
” Don’t count the people you reach, reach the people who count ” – David Ogilvy
4 Major Concepts Of Account-Based Marketing
Client specificity & insights
ABM mainly concentrates on identifying & addressing buyer problems rather than promoting products & services.
Alignment of sales & marketing
Tightly sales and marketing teams help in better prospecting and nurturing of target accounts.
Enhanced Focus on Building Relationships
Account based marketing focuses greatly on providing a rich customer experience thus building lasting relationships.
Personalized campaigns not only add to customer experience & enhance customer retention but also help build unparalleled brand loyalty.
ABM’s Influence On B2B Organizations
Although ABM has been around for quite some time, it is increasingly being adopted in recent times as B2B marketers realize its benefits in building long term business relationships thereby ensuring a steady inflow of revenue.
Greater Adoption Of ABM
B2B companies have begun utilizing targeted account strategies, as 86 percent of marketing and sales professionals stated (LeanData).
Better CX with ABM
84% of marketers said that ABM had significant benefits to retaining and expanding existing client relationships (Alterra Group).
ABM Impact On ROI
Almost 85 percent of marketers who measure ROI describe ABM as delivering higher returns than any other marketing approach; half of those marketers cite significantly higher returns (ITSMA).
Types Of Account-Based Marketing
The 3 Types Of Account-Based Marketing are:
Designing and driving personalized marketing campaigns for individual accounts
Designing and executing lightly customized marketing strategies focused on the target accounts with similar requirements and pain points.
Technologies such as CRM & Marketing Automation are utilized to tailor marketing campaigns for specific target accounts with related issues.
5 Remarkable Benefits Of ABM
Achieve A Laser Focused Marketing & Sales Strategy
Improved Cooperation Between Marketing & Sales Teams
Personalized Campaigns That Enhance Customer Retention
Shorten your sales cycle with better targeting
ROI soars to incredibly large numbers
Why Choose ABM With Us?
We help you align your sales and marketing teams for effective ABM
We provide account based data for personalized campaigns & better customer retention
We help you scale your ROI with efficient ABM campaigns
Fascinated by what ABM can do ? Learn More About Our Services
Related ABM Resources
5-Ways Effective Account Based Marketing Can Benefit Marketers
Lately, Account Based Marketing (ABM) is a word that has been doing the rounds in the B2B community with greater frequency. ABM also known as key account targeting, is a strategic approach to B2B marketing that targets specific high-value accounts.
This approach combines B2B lead management and relationship management to grow the life time value of specific target accounts by engaging specific accounts and individuals across various stages of the buyer journey.