What is Account Based Marketing.
Have you ever dream to target people by the messages by domain in front of the right account at the right time?
Are you wondering about alternative B2B strategy which marketing message concentrate benefits and needs of account you are targeting? Wondering about account-level personalisation outreach which can complement your inbound strategy so it can be used together? If at lest one asnwer was yes then you can read on to get to something you were looking for.
What is Account Based Marketing (ABM)
Account Based Marketing (ABM) is an outbound strategy which focus marketing and sales efforts on a specific set of particular accounts (Ideal Customer Profile rather than targeting specific type of persona - buyer persona) by personalised outreach campaigns addressed to a specific needs of the account.
Marketing to existing customers accounts enables up-selling and cross-selling improving customer experiences as well. Specific high-value customers are better served with Account Based Strategy than broad reaching approach.
Who might benefit from using Account Based Marketing
If you are selling to Business (B2B) instead consumers and your deals are bigger than $10 000 USD then you are a selling high-ticket items to a buying committee of at least three people. ABM seems to be a good fit for you.
Benefits of using Account Based Marketing (ABM)
Increased deal size
The deal sizes are bigger ( more than $10 000 USD)
Increased quality of biggest opportunities.
Increased alignment between marketing and sales teams.
Increased sales velocity focusing time and resources on account likely to drive revenue.
Better customer experiences
Consistently relevant experience that customers expect.
Higher customer satisfaction reduce churn and increase up-selling and cross-selling transactions.
How Account Based Marketing differs from traditional approach
Account based marketing is better tailored approach for sophisticated, bigger, longer sales cycles deals because it is:
needs and pain points with actual position in their customer journey.
carefully selected, named accounts which match Ideal Customer Profile
crafted relevant conversations
not pushy call to action conversations but sharing experiences, lessons learned and trends.
If account based marketing seems to be a fit for you then you might be interested in going further. If so then look for another blog post in this series Getting started with Account Based Marketing.