More than 15 years after the phrase was coined, account-based marketing (ABM) is still trending among enterprise-level sales organizations. A study by Sirius Decisions found that 92 percent of B2B marketers consider ABM to be “extremely important” to their overall marketing efforts.
Compared to other avenues, account-based marketing is personalized, gives clearer ROI, shortens the sales cycle, reduces slippage, and aligns sales and marketing teams behind the general strategy. Before we draw examples of account-based marketing, let’s cover some of the ABM basics.
What do you mean by Account-Based Marketing?
Account-based marketing is a targeted business strategy that treats individual prospects as a “market”. Instead of focusing on the “industry”, marketers focus on the various stakeholders in the organization. High-value accounts are identified, targeted to key employees, and marketing strategies are applied to appeal to unique individuals (yes, buyers are essential to effective ABM) and meet the needs of these specific elements.
Nowadays, account based marketing is getting serious attention. Vendors, bloggers and market research firms are reviving the popularity of account-based marketing. The phrase was coined by ITSMA in 2004 and B2B sellers have been doing this type of marketing for years (but without calling it account based marketing).
What is the long term objective of account based marketing?
Account-based marketing seeks to kick-off the sales process with higher-value opportunities earlier, get the highest ROI possible from marketing campaigns, as well as align marketing, sales, and account management for longer-term success.
Account-Based Marketing Benefits:
While this may seem like a lot of time and effort for an individual client, statistics show numerous benefits of account-based marketing:
- ROI is much higher and measurable
ABM is the precise way of b2b marketing. It’s highly targeted, personalized, and accurate compared to general inbound and outbound strategies, which results in higher ROI (measurable ROI).
- More Quality Leads
By implementing ABM best practices , B2B marketers can do more with less. A smart ABM technology stack helps the same number of account manager’s target, market to, convert, and upsell a much larger number of contacts at each account before another account manager has to be hired.
- More Personalized Approach
Many customers respond to personalized messages. This has been shown time and again to be true. It’s why email marketing shows better results as compared to other forms of inbound and outbound marketing. ABM focuses on creating personalized messages for target accounts.
- Sales and Marketing Team Alignment
ABM practices needs sales and marketing team to work together. Therefore, there is alignment between the two.
- Goal planning and results measurement becomes easy
It becomes easy for companies to set achievable goals and benefits with ABM processes.
Looking for Account Based Marketing Services? Companies like Zelite Solutions can provide best Account based marketing services that you can opt for!
You can also refer ABM case-study to know more about account-based marketing.
