What is ABM? (Account based marketing)
Feb. 4, 2019, 12:23 p.m.
A growing number of marketers, especially in B2B, are embracing Account Based Marketing as part of their overall marketing strategy. Account Based Marketing (sometimes also called Key Account Marketing) is a special type of approach to marketing communication, focusing on narrowing the target group specific recipients or potential company's clients (accounts). A characteristic feature of ABN is directing all marketing messages to that specific group.
What are the benefits of using Account Based Marketing?
• It helps the company to focus on key customers. They have the biggest potential to generate much more revenue and other benefits.
• It enables the marketing and sales teams to communicate with the right people during the most important transactions.
• It provides to build a stronger bond with clients and develop the potential of long-lasting business engagement.
• It helps marketing and the sales teams to cooperate better and make leads into real clients faster and more effective.
• It allows making more personalized messages, created particularly for an individual client. That approach is essential when aiming your efforts at one, high-value account.
How to create an account based marketing?
1) Identify your key accounts
Analyze your customer base and pick the high-value ones. Who does fit your definition of an ideal client?
2) Create the individuals within selected accounts
Identify who can influence the final buying decision. Make a list of people who you should persuade to take an action.
3) Prepare targeted marketing campaign
Always keep in mind building strong relationships and personalizing all the messages. Your campaign may include different tactics such as email, ads, special events, and more.
4) Execute your campaign
Choose your team members and assign tasks. Now it’s time to implement the campaign.
5) Measure the results and optimize
Track the account engagement and optimize your campaign. Give yourself some time to generate the result and then adjust your tactics as necessary.