The strategy called Account Based Marketing (ABM) is to focus marketing and sales resources on a clearly defined series of target accounts. The marketing and sales teams meet in a single platform in a coordinated way and, with a series of tools, can target the most relevant accounts in a personalized way.
Companies doing B2B Marketing can benefit greatly by adopting an ABM strategy in markets that meet these characteristics:
In highly concentrated markets, where there are relatively few very large customers that we want to reach.
When there are many records or leads in those key accounts that we must impact our marketing because all those leads influence the decision.
If the size of the opportunities is very large and the sales cycle is long and multiple decision factors both internal and external.
The main benefits of Account Based Marketing can be summarized in four main key factors:
1. A focused sales and marketing strategy
Account Based Marketing focuses on accounts that have the highest sales potential and allows prioritization. This strategy begins by identifying a set of target accounts that the sales team wants to penetrate, developing personalized and creative messages to reach them.
Instead of starting with a list of channels to execute marketing campaigns, through which you can or can not reach the target audience, an ABM strategy allows you to focus on the exact accounts that you want to achieve. This hyper-orientation increases the effectiveness of marketing messages without the need to increase the resources needed to run more specific campaigns.
2. An aligned sales and marketing team
Alignment and coordination between marketing and sales is easier with ABM. Before you start designing the campaigns, a sales-marketing conversation is necessary to identify the target accounts. This allows the marketing team to better understand business objectives and reinforces the position of marketing as an important part of the sales process in the eyes of the sales team.
3. A better customer experience
Account Based Marketing is personal and optimized. It directs efforts towards a more personalized customer experience. At a time when B2B buyers crave more personalized sales experiences, ABM is the strategy to deliver targeted, relevant and personalized marketing messages. This makes it possible to reach customers discreetly and through the channels they are already using regularly.
4. More Income
Account Based Marketing strategies allow greater return on investment (ROI) in demand generation.
By using ABM, by the time sales begin to reach target accounts, customers have already received personalized content and messages from the company. This speeds up the sales process by reducing unnecessary sales introductions and sets the stage for a more personalized shopping experience. It increases the likelihood of a record becoming a sale and the company ensures that the strategy is well focused and directed from the beginning, so you will not waste time or money on testing or dead ends.