Account Based Marketing is a relatively new approach contrary to the lead generation approach. Account Based marketing involves a shift from the conventional lead-centric mentality to an account-centric mentality. Adopting an ABM strategy becomes more profitable for organizations looking to keep up with the competitive B2B landscape.
ABM has become indispensable in today’s B2B market because it helps to close more deals faster and basically works! The ABM process includes identifying, acquiring, retaining, and nurturing high-value accounts.
A big factor that contributes to the success of ABM is the personalization of content! It’s no longer an optional and additional part of ABM; Buyers expect it and demand it.
AdvantEdges Digital provides top-notch ABM solutions and that aid your business growth! Our team gives extreme emphasis to the research that goes into ABM. It is after all the foundation for getting fruitful results!
Account-based marketing (ABM), also known as key account marketing, is a strategic approach to business marketing based on account awareness in which an organization considers and communicates with individual prospect or customer accounts as markets of one.
How ABM helps companies to:
Increase account relevance
Engage earlier and higher with deals
Align marketing activity with account strategies
Get the best value out of marketing
Inspire customers with compelling content
Identify specific contacts, at specific companies, within a specific market
In the marketing of complex business propositions, account-based marketing plays a key role in expanding business within existing customer accounts (where, for example, wider industry marketing would not be targeted enough to appeal to an existing customer). In scenarios where the initial sale has taken several months, it is reported that account-based marketing delivers an increase in the long-term value of the customers.
ABM can also be applied to key prospect accounts in support of the first sale. ABM is an example of the alignment of sales and marketing teams. In the aligned model, organizations able to unite tactical marketing efforts with defined sales goals and use feedback from sales to identify new potential markets.
For ABM to succeed, joint working relationship with sales is essential and marketing needs to be measuring and optimizing based on accounts. ABM is targeted at accounts (or companies as a whole) as opposed to traditional inbound marketing, which is targeted at leads (or people within these companies). The need for sales and marketing alignment also comes from the fact that there is an inherent disconnect between marketers, who market to people, and sales people, who sell to companies (or structured groups of people).