Account Based Marketing (also known as ABM) is a marketing strategy that has historically been considered too expensive and too time-consuming. However, due to technological advances in areas such as automation and personalisation, it is now a great time for marketers to investigate an effective way of implementing this strategy.
“ABM delivers the highest return on investment of any B2B marketing strategy or tactic.” (ITSMA Survey)
ABM is an approach of narrow focus, where fewer, high-value accounts are targeted with specific content. This contrasts with the more classical one-size-fits-all marketing approach which uses Batch-and-Blasts communications to cast a net as wide as possible. The hope is that the message will be relevant to a handful of accounts that will be moved down the marketing funnel.
By focusing on specific accounts, rather than spreading energy across a broad audience, time and resources are more appropriately used – with 97% of marketers achieving a higher ROI with account based marketing than any other initiative.
Since ABM is hyper-personalised to target specific accounts and their precise stage in the buying journey – prospects are significantly more likely to engage and interact with you and the content.
In addition, as engagement figures increase, the data collected (from sources such as email, advertisements, and events) becomes more granular, producing insights that wouldn’t otherwise be accessible .
Consequently, these enhanced insights can be passed down onto the internal sales function, allowing them to adapt their approach accordingly (you might finally get the right recognition in the process). It will probably come as no surprise that companies that have aligned their sales and marketing teams generate 208% more revenue!
Implementing ABM is not easy and there are several key points to keep in mind. Feel free to reach out if you have any questions, if not, stay tuned for more information.