Account based marketing (ABM) is a strategic approach to business marketing in which an organisation focuses its efforts on a clearly defined set of target accounts. It is a methodology that has been gaining popularity in recent years, especially among B2B companies.
With account based marketing, the goal is to develop targeted campaigns that are specifically tailored to each individual account. This approach differs from traditional marketing strategies, which tend to be more generalised and less focused on specific accounts.
ABM requires a high level of coordination between sales and marketing teams, as both departments must work together closely to identify and target key accounts. Once target accounts have been identified, the sales and marketing teams need to develop custom strategies for engaging with these accounts.
The 5 main benefits of ABM
There are several benefits that can be gained from using an account based marketing strategy.
First, ABM can help improve the efficiency of your marketing efforts. By targeting specific accounts, you can ensure that your campaigns are more likely to reach their intended audience and have a greater impact. This can save your company time and money by reducing the need for mass advertising campaigns that have little chance of success.
Second, ABM can improve your company’s relationships with its customers. By taking a personalised approach to each account, you can build stronger relationships with your customers and improve customer satisfaction. This level of personalisation is key to performance in 2022, driving higher ad engagement rates and general customer response.
Third, ABM can help you generate more qualified leads. By targeting specific accounts that are more likely to be interested in your products or services, you can generate leads that are more likely to convert into customers. By building a target audience list (TAL) that matches the buyer persona of your product or service, we can ensure that we’re only investing in marketing to prospects who match your Ideal Customer Profile (ICP)
Fourth, and maybe most importantly, ABM can help you close more deals. By tailoring your sales pitch to each individual account, you can increase the likelihood of closing a deal.
Finally, ABM can help you better understand your customers’ needs and wants. By engaging with customers on a personal level, you can gain insights into their pain points and needs. This information can be used to improve your products or services and make them more appealing to potential customers.
Account based marketing is a strategic approach to business marketing in which an organisation focuses its efforts on a clearly defined set of target accounts. This methodology has been gaining popularity in recent years due to the numerous benefits it offers businesses, especially those in the B2B space. If you’re looking for a way to improve the efficiency of your marketing efforts and generate more qualified leads, then account based marketing may be the right solution for you.