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Today's shifting digital landscape can have a big influence on company budgets—and marketers are constantly pushed to do more with less. As a result, demonstrating return on investment and optimizing efficiency is critical
FREMONT, CA: Account-Based Marketing (ABM) is a marketing technique in which marketers create and execute highly targeted marketing campaigns directed at individual firms or accounts. Marketers regard individual accounts as complete markets using ABM, developing customized strategies and multichannel campaigns that match the unique business objectives of customer buying groups.
Typically, ABM techniques are classified as follows:
Quality over quantity: Rather than generating a large volume of leads (many of which are unqualified), ABM techniques emphasize relationship building with a smaller number of key stakeholders or high-value accounts.
Active collaboration with sales: Marketing and sales alignment is critical to an ABM approach. ABM marketers collaborate closely with salespeople to discover their company's highest-value accounts that are most likely to generate money.
Tailored campaigns: Unlike "spray and pray" marketing, which involves marketers casting a wide net with generic messaging, ABM is all about personalization. ABM marketers leverage deep consumer data to develop relevant content and services targeted to the target company's needs, decision-maker team, or even individual buyers.
The Advantages of ABM
Concentrate on Revenue: ABM promotes a strategy change away from lead generation and toward revenue generation by focusing on accounts with the highest potential ROI. Marketers may spend the marketing funds and efforts more efficiently by focusing on prospects that fit the target personas and are ideal clients for the challenges marketers can help them address. ABM can also accelerate revenue growth by focusing on highly qualified leads who are most likely to benefit from the offering and are more likely to respond to the messaging.
Increased Alignment between Sales And Marketing: One of the most significant problems marketers face is coordinating with sales on who to target and the most appropriate content for various personas. ABM ensures that sales and marketing teams work in unison. They collaborate to develop objectives, target accounts, client needs, and success measures. Additionally, this collaboration enables constant communication across the customer journey, resulting in a more positive experience for prospective and existing customers.
Consolidate Customer Relationships: Marketers and sales teams alike should recognize that customer retention has surpassed acquisition in importance. ABM's individualized, targeted approach enables marketers to have a deeper understanding of their client's demands and provide value over time—which can increase customer loyalty.