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Account-based marketing allows brands to align the marketing and sales teams for promoting long-term business growth, delight customers, and boost revenue.
FREMONT, CA: Long time ago, marketers were obsessed with casting super-wide nets in the hopes of pulling in as many leads as possible. As far as marketers are concerned, the more traffic they could drive to their sites, the better the sales. Over the years, an alternative philosophy called Account-Based Marketing (ABMM) began to evolve. Account-based marketing uses highly targeted, personalized campaigns to win over particular accounts. Here is more about how account-based marketing helps better lead nurturing.
• Encourage Sales and Marketing to Work Together
Most of the companies that use ABM report that their sales and marketing teams are mostly aligned. In a traditional system, marketing develops the leads, then hands them off to sales. With account-based marketing, sales and marketing teams work together to generate leads, research the leads, and find solutions that work the best. Unlike conventional siloed operations, ABM also encourages departments to work together, even product development and customer service.
• Help Make More Money
Account-based marketing, with its higher investment of resources and time, may seem costly, but account-based marketing leads to higher sales close rates, average deal sizes, and closes more quickly than deals built under conventional process. While account-based marketing may take more time to process leads, the difference in conversion rate and deal size makes it an important avenue for a higher return on investment.
• Effective for High-Ticket Items
If brands sell products or services with a long, complex sales cycle and high price tags, ABM can be more efficient at helping marketers to connect with the accounts and individuals who can not only afford the offerings but could fully appreciate value. Inbound marketing may result in several inquiries from those who could never make a purchase at that particular price point, wasting the marketing team’s time and diverting the resources from those who matter most to the business.