What Is ABM and How Can Marketers Benefit from It?
Account Based Marketing is a strategic marketing approach in which an organization treats each individual prospect as a separate account. ABM focuses more on companies rather than individuals, and treats each organization like its very own market. Also known as Key Account Marketing, ABM allows marketers to invest their resources on a clearly defined group of target accounts and design personalized campaigns that address concerns of each account.
SiriusDecisions recently released its State of Account-Based Marketing survey. The report shares the following key findings:
- Over 90% marketers recognize the value of ABM
- Companies practicing are more aligned with sales, with 34% saying they were tightly aligned.
- 52% respondents currently having ABM pilot programs in place
- 74% of respondents work with sales to define account goals and plans, and 67 percent get help from sales on account insights.
- 47% companies surveyed say their ABM teams lack the required skills
BENEFITS OF ABM
Marketing is moving from the Conventional Demand Generation approach to a more rewarding Account Based Approach.
- Each account is treated like a revenue centre
- Huge scope for personalization of messages
- Optimum utilization of resources
- Better estimation of Returns on Investments
- Align marketing activities with account strategies
- Get the best value out of your marketing efforts
- Engage customers with compelling content
- Easier Sales Alignment
- Identify and serve high-value clients
- Execute Targeted & Coordinated Campaigns with ease
STEPS FOR IMPLEMENTING ABM
Implementing a sound ABM strategy requires planning, familiarity with industry best practices and a constant allegiance. Here are few simple steps to follow:
- Identify Your Target
- Delve Deep And Research Your Accounts
- Design and Create Your Marketing Messages
- Select Marketing Channels
- Implement Campaign Strategy Meticulously
- Track Your Campaigns
- Measure the results
- Follow Up
If you are looking to enhance the scope of your marketing operations with Account Based Marketing, Blue Mail Media could be an essential catalyst in bridging the gap between you and your Accounts. Get in touch to know more!