Category : Digital Marketing Author : Team Amura Date Created: 13 Dec 2022
Marketing in the modern world has transformed drastically. It no longer relies solely on mass targeting, promotions, automated communication, and waiting for conversions. Modern-day marketers need to now identify their highest-value accounts and communicate with them as individual markets. They need to identify their customers’ pain points and offer specific solutions to them. Account-based marketing, or ABM, is the best way to achieve all this and more.
ABM enables marketers to eliminate their unqualified leads so they can focus on engaging their target accounts more effectively. It helps them seamlessly align their marketing and sales teams, personalise the buyer’s journey, and boost engagement, ROI and revenue.
Fact check: 67% of brands have leveraged account-based marketing in 2021.
In this blog post, we’ll dive deeper into what ABM exactly is and all the aspects related to it. Let’s get started!
Traditional marketing vs ABM
Traditional marketing involves segmenting your target audience, developing general communications that can fit them all, and generating leads through site visits and lead forms.
ABM, on the other hand, follows an inverted approach. It firstly helps identify your best-fit accounts, accelerate the conversion process by targeting key decision makers, engage them with customised communications, and create lasting relationships with them with effective nurturing.
The figure below illustrates the difference between traditional marketing and ABM:
Basics of ABM and its key features:
The concept of identifying and nurturing high-value accounts isn’t new. We have seen agencies and salespeople luring their top clients with special taiwan phone number events and expensive wine and dine for ages. But with technological evolution, ABM has made this exclusive practice accessible to every brand owner. Take a look at some key features of ABM listed below.
ABM treats every account as a unique account
It helps you build channel-specific experiences
It unites sales and marketing
Identifies key target accounts
Creates an objective account profile
Helps target the decision-makers of that account
Fact check: 87% of marketers that measure ROI say Australian phone number that ABM outperforms every other marketing investment.
The ABM process
The ABM process
Unlike traditional marketing, ABM helps you identify the biggest opportunities and high-value clients in the initial stages and seek and nurture them proactively in the later stages.
The major factor that distinguishes the ABM process from other marketing techniques is that it identifies diverse accounts and their specific viewpoints and requirements in the initial stage. It helps you get an edge in the competitive market by implementing a three-pronged approach:
Initial Setup: Enhance your initial campaign setup by integrating analytics and best-suited tools for better marketing and sales insights.
Content and asset creation: ABM helps you achieve quality outreach and relationship-building. With ABM, you can curate content that caters to individual accounts and implement specific content marketing strategies to boost the engagement rate.
Marketing activities: Design growth-driven promotional activities and have a stronger brand presence on the best-performing platforms with ABM.
Fact check: 91% of companies using ABM were able to increase their average deal size, with 25% of respondents stating the increase being over 50% or more.
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10 Things to Keep in mind before setting an ABM framework
Benefits of ABM
Benefits of ABM
Here are some key benefits of implementing Account-based Marketing strategies:
Sales & marketing alignment: ABM ensures that your marketing and sales teams focus on the same goals. It helps them mutually streamline BANT (budget, authority, needs, and timeline) lead qualification and ensures an improvement in the conversion rate.
Boost your market relevance: With ABM, every effort of yours, be it content, product descriptions, communication, and campaigns, are highly personalised to cater to individual accounts. This increases your relevance among your high-value accounts.
