Account-based marketing (ABM) is the latest trend dominating the world of digital marketing, and for a good reason. The strategy is known to provide higher returns than most other marketing approaches. A Demandbase report found that 60% of B2B companies have successfully seen a revenue increase of 10% just after a year of implementing the account-based marketing strategy.
The time is ripe if you still haven’t jumped on the Account-Based Marketing (ABM program) bandwagon. But before you get started with account-based marketing tactics, it’s important to learn what exactly it is.
Account-based marketing is a strategic approach in which key accounts are targeted directly in their customer journey. Instead of the typical one-to-many marketing strategy, ABM campaigns allow you to market directly to the target accounts as units of one.
The ABM approach starts with identifying the right accounts and their compilation in the account list. The key stakeholders in these specific companies are then targeted through various marketing channels based on their buyer personas.
Instead of designing broad-reaching content marketing campaigns that target a wider net of potential customers, you get an opportunity to address the specific needs and pain points of a defined group of accounts. Here’s how it works –
With the growing competition in the digital space, it’s more important than ever to adopt new inbound marketing strategies for enhancing customer experience and increasing revenue potential. This is why many B2B marketers are gradually shifting to account-based marketing programs. With account-based marketing, you can focus on building relationships with every type of account by crafting high-quality content that addresses their specific needs.
Suppose you are selling a high-end SaaS product. One way to market it would be by employing a blanket approach, where your target audience comprises both SMBs and enterprises. While some of them might need your expensive product, your marketing efforts in targeting all of them would not amount to much.
With an account-based marketing approach, you can slow down and approach high-value target accounts with a targeted marketing message. Your ABM efforts will allow you to engage each individual (involved in the purchase decision) in a more personalized way. And when the content is personalized, buyers will be more open to your outreach efforts.