Marketing Glossary

Account-Based Marketing (ABM)

A marketing approach for a business that focuses resources on a modest number of target accounts within a market.

What is Account-Based Marketing (ABM)?

When it comes to corporate marketing strategies, account-based marketing (ABM) is the most effective way to target specific customers or accounts. It employs tailored marketing to entice each account, adapting the promotional messaging to the account’s individual traits and needs.

Account based marketing advice goes beyond the creation of leads to provide a more holistic approach to marketing. One of the most important factors in maximizing the value of your largest accounts is marketing to current client accounts in order to encourage cross-selling and upselling.


Account-Based Marketing’s (ABMs) Advantages

Account-based marketing is becoming increasingly common among B2B firms that are primarily concerned with larger accounts. There’s a very excellent explanation for this. Several advantages of account-based marketing outweigh the drawbacks of other marketing approaches for companies selling products or services to large clients with lengthy sales cycles and significant transaction amounts.

Marketing strategy with a personal touch

A tailored message for each target account is created instead of a generic plan. Marketers use information about their customers to adjust the campaign’s creative assets to the customer’s specific features and wants, rather than utilizing a generic strategy.

Alignment of sales and marketing

Account-based marketing enables collaboration between marketing and sales teams in discovering target accounts, creating customized campaigns for them, and synchronizing and progressing individual accounts along the funnel, both before lead conversion and after the lead converts.

Sales cycles are shorter

In big purchasing decisions, a wide range of parties are involved. Because it begins at a lower level in the organization and progresses slowly towards the key decision maker, it frequently causes the sales process to be delayed or slowed. Since all prospects are nurtured at the same time in account-based marketing, the length of the sales cycle is cut significantly.

Clearer return on investment (ROI)

Account-based marketing is accurate and quantifiable, and it provides the highest return on investment of any B2B marketing strategy in the industry. According to 85 percent of marketers who track return on investment (ROI), account-based marketing provides more returns than any other marketing method.

Less resources are wasted

Accounts with the best chance of a sale are prioritized for resources and attention. This frees up resources that might otherwise be squandered.


Examples of Account-Based Marketing (ABM):

Account-based marketing starts with the development of meaningful segments, followed by the identification of marketing campaigns that can be tailored to those segments on the channels that are most effective for them (email, events, website). Each company’s plan will use a unique combination of methods.

The way you handle targeting a certain account will be determined by the account’s marketing channels, unique characteristics, and relevant segments. The target segments for your ABM programs will be those that can provide the most value to your company. Here are some real-world examples of how B2B marketers might use account-based marketing to construct their campaigns:

Events

Sales teams have long found that in-person events are one of the most effective ways to convince decision makers. Tailored invites to important candidates from target accounts, exclusive VIP dinners, bespoke gifts and schwag for target accounts, and personalized follow-ups after the event are all examples of an ABM approach to events.

Webinars

Webinars, like gatherings and events, can be tailored to be meaningful for a particular target account. Webinars and follow-up can be customized for specific businesses, and custom webinar material can be designed with the target audience in mind.

Direct Mail

Direct mail has been a common way of reaching customers within a business in an age when everyone is inundated with email. Because ABM is more focused, direct mail gifts and advertising can be more valuable because the income potential is considerably larger.

Email campaigns

Emails remain an important promotional tool for ABM, despite the prevalence of direct mail. Unlike volume-based advertising, which may include scripts and automation, account-based marketing entails customizing email messages for each individual and organization.

Paid advertising

PPC and sponsored social media advertisements are prevalent ways to reach out to specific accounts online. Social media platforms like Facebook and LinkedIn help to target certain firms and personas, and display ads can be adjusted to concentrate on a small number of target accounts rather than fishing a wide net using technology like IP targeting and retargeting.

Web personalization

On the web, ABM initiatives go beyond generating visitors with tailored SEM and inbound marketing campaigns. When visitors arrive at the website, personalization technology can be utilized so that target prospects get more than the generic website experience; something that’s personalized and account-specific.


Steps to Implement Account-Based Marketing (ABM)

Below is a step-by-step tutorial on how to set up account-based marketing.

Step 1: Determine which accounts are of great value to you

These are the major accounts that have the greatest potential to boost your company’s income.

Step 2: Look into those accounts further

Get a clear picture of their customers’ requirements and pain issues, as well as where they are in the customer journey.

Step 3: Create targeted marketing campaigns

Create innovative materials that will resonate with the target account, based on the information you gathered during the research phase.

Step 4: Execute your personalized marketing initiatives

Send your campaigns to the account you want to reach.

Step 5: Track the results of your personalized marketing initiatives

Analyze the statistics to see how effective your campaigns are.


Personalization and Account-Based Marketing (ABM)

Personalization of a website is a crucial component of an ABM strategy since it enables you to personalize the content and material on a webpage to each of your target accounts. The experiences that guests have once they visit a website may be modified through personalization in the same way that offline marketing efforts are individualized for each account.

Web personalization for ABM is accomplished by identifying anonymous visitors to your site using respondents ’ demographic data obtained through reverse IP lookups, first-party or third-party data, or both. Once the visitor’s company has been recognized, they may be matched to your target account list for a more tailored web experience.

Social proof, calls-to-action, messages, and graphics are just a few of the elements of a website that may be customized using account-based personalization.