Account-based marketing (ABM) is a business marketing strategy that concentrates resources on a set of target accounts within a market. It uses personalized campaigns designed to engage each account, basing the marketing message on the specific attributes and needs of the account. ABM also takes a more holistic view of marketing, beyond just lead generation. Marketing to existing customer accounts to encourage upselling and cross-selling is one of the keys to getting the most value from your largest accounts.
The Benefits of Account-Based Marketing Account-based marketing is an increasingly popular approach for B2B companies that target larger accounts. For companies that are trying to sell into large accounts with long sales cycles and large deal sizes, account-based marketing offers many benefits over other marketing approaches. They include:
Personalized Marketing Approach Instead of a generic approach, marketers create personalized messaging for target accounts, taking what they know about their customers and tailor the creative assets of their campaign to the customer’s specific attributes and needs.
Sales and Marketing Alignment Account-based marketing encourages marketing teams and sale organizations to work together, identifying target accounts, crafting customized campaigns for them, and working together to align and move individual accounts through the pipeline, both before and after the lead conversion.
Shorter Sales Cycles Major purchase decisions involve multiple stakeholders. This typically slows down the sales process, because it starts at a lower level in the organization and moves slowly towards the primary decision-maker. In account-based marketing, the length of the cycle is shortened as all prospects are nurtured simultaneously.
Clearer ROI Account-based marketing is precise and measurable, providing the highest ROI of all B2B marketing tactics. 85% of marketers who measure ROI describe account-based marketing as delivering higher returns than any other marketing approach.
Fewer Wasted Resources Time and resources are narrowly focused on a small number of accounts that are most likely to close sales. This frees up resources that would previously have been wasted.