What is Account-Based Marketing or Account Based Selling?
Conventional Marketing is being gradually replaced by the account level personalisation aka. Account-Based Marketing or Account-Based Selling. It is more than just another strategic approach to marketing helping enterprises to target and acquire high value customers. Adding to this, advances in modern marketing techniques have empowered marketers to embrace the ABM swiftly at a higher scale.
But how does this ABM help Marketers or Enterprises?
Sales driven marketing: Account Based Marketing helps marketers to come with a firm list of potential accounts and generate revenue through them.
Tailor-made approach: Suiting to the target account’s likes, dislikes, needs and technology, ABM comprises of a customised approach to enhance the impact of the communication, its medium and the technology you use to deliver it, thereby increases the engagement rate.
Easy Targeting: Account Based Marketing tactics bring up the potential accounts to your notice so that you can customize your approach and target the prospect with an ease, thereby smoothens Marketing and Sales functionalities.
Measuring the Output: In ABM, you target the defined number of identified accounts. Hence, the output of your campaign, targeting or approach can be easily estimated.
Effective optimisation of marketing tools or resources: Account based marketing gets you the identified number or the accounts and guides you to design your approach, which further helps you to optimise the defined marketing tools or resources as per the approach.
More effective than Conventional Marketing: Unlike the conventional marketing where your approach, communication or medium do not suit all the target account, the Account Based Marketing or Account Based selling gives you a clear vision of your targets’ likes, dislikes, needs and technology they use. Therefore, you tend to create an effective campaign garnering higher number of conversions.
What impacts the outcome of any B2B Account-based Marketing or Account-based Selling tactic is based on 3 fundamentals:
Your Target Account list, including how you enable better Account Intelligence
The number of touches your ABM cadence has
Your ability to hyper-personalize, at scale!
Catch these 5 short tips from our recent conversations on ABM with five industry experts:
Host of the #Flipmyfunnel podcast and Co-founder at Terminus says,
“I think in ABM I would love to see (like I’m seeing in some cases) companies hiring like 15 account-based marketing people in marketing departments. So, I think that’s just crazy and incredible. But that’s what I’m starting to see. I’d love to see more ABM as a discipline because it does take a different mindset.”
President at Heinz Marketing Inc says,
“Account-based Marketing done well requires tight integration between sales and marketing and the buying committee at your target accounts. When companies have this in place, the rest is easy”
Chief Marketing Officer (SiriusDecisions Product Line) says,
“Account-based Marketing has been and continues to be all the rage. Every client at SiriusDecisions focuses on it in one form or the other. ABM is best when you want to go after large accounts. In B2B marketing and ABM, engagement metrics are important at every stage.”
Kelly J Waffle,
Head of Digital Strategy at Hinge says,
“When it comes to ABM, I see that most of the people are being cautious about it. Personalization has a high adoption rate. They use it for email and even website visits. Right now only 9% of B2B marketers have implemented hypersonalization as a strategy.”
CEO at DemandGen says,
“ABM is really hard. Its way easier to buy lists and go the generic email route. It’s harder to think of a specific audience and personas within. But is ABM worth it? Absolutely! If people want ABM to be successful, it might make sense to target them through their install base data.”
Looking for some more industry expertise on ABM, Data Quality, B2B Marketing or Content Marketing? Catch what the experts are saying, right here!