What is ABM or Account-based Marketing?

What is ABM or account-based marketing?

In this Sprocket Talk What Is episode, we answer that exact question.

We also cover why ABM is important for your business as well.

Last but not least we share four ways you can leverage ABM or Account-based Marketing at your company.

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So today's topic is account based marketing.

No, that doesn’t mean you market to accountants.

That’s just too boring and… wait… My Producer Dan is telling me “boring” is a banned word.

It’s offensive to call accountants boring.

Well, I better play by the numbers… 

So.. What is account based marketing?

It’s a strategic approach to marketing based on account awareness in which an organization considers and communicates with individual prospect or customer accounts as markets of one.

Account-based marketing - or A-B-M - is a very popular marketing strategy among B-2-B marketers.

Basically, you decide, through research, which businesses, or accounts, you want to do business with and you market to the decision makers in those companies.

Why is it important for your company?

An account based marketing strategy really complements the traditional, short-term marketing goal of generating leads with efforts aimed at driving long-term revenue growth.

Account-based marketing tactics can help your marketing team laser-focus on the best potential clients.

For example, instead of a blanket approach like going after small businesses, SMBs, and enterprises – you might start by focusing on those accounts that have the highest need and the required budget.

How can you use it for your company?

Account-based marketing is a win-win-win for sales, marketing, and customers. Want to know what A-B-M can do for your business?

1. The whole strategy perfectly complements the account-based approach sales teams have embraced for years.

When marketing buys-in and dedicates its resources to an account based marketing strategy, sales teams can better personalize their outreach.

Nurturing targeted members of the buying committee with appropriate marketing messages helps speed up the sales process, allowing sales to achieve better close rates while closing bigger deals... faster.

So get your marketing team to put A-B-M into play.

2. You can deliver a better return on effort in the B2B world with account-based marketing.

When you implement A-B-M, marketing benefits because sales see the marketing team as a trusted ally on a strategic mission. It brings the two teams together, creating a defined list that both teams agree to make the most promising targets.

Did you know that 84-percent of businesses using A-B-M say it delivers higher ROI than other marketing campaigns? BOOM.

3. A third way you can use account-based marketing at your company is to enrich the marketing team with a much deeper understanding of the company’s overall target audience.

Marketing can then apply their insight into what content and messages resonate to amp up the results of their efforts.

4. Finally, leverage account-based marketing to better serve your customers.

Buyers prefer personalized interactions, and A-B-M delivers just that.

Serving targeted content and messages that resonate does take up-front work... but customers will recognize and appreciate this – and the fact that you don’t waste their time with ones that are off the mark will turn buyers into ambassadors.

Now that you know what account-based marketing is... and why account-based marketing is so important... make sure you implement it for your company’s success.