Account Based Marketing (ABM) is a method of marketing where a marketer treats each prospect as a distinct account. Also known as Key Account Marketing, ABM allows marketers to devote their sales and marketing resources to a pre-defined group of target accounts and design personalized campaigns that address concerns of each of them.
Unlike traditional marketing, ABM requires more personalization, and hence this strategy is utilized by many companies worldwide.
Three Types of ABM
- Strategic Account Based Marketing
- ABM Lite
- Programmatic Account Based Marketing
Source: ITSMA
Benefits of Account Based Marketing
– It is a more personalized strategy
– So, you know your customers better
– Hence reduces the amount of money and effort going wasted
– It increases ROI
– Facilitates faster sales process
– Therefore, it reduces the sales cycle
– Also, it is easy to track the results
– You can quickly create and analyze the reports
– Helps in building customer trust
– Proper alignment between marketers and sales
Strategies to Implement Account Based Marketing
– Have a personalized campaign and offers
– Also, develop an account-specific landing page.
– Define the customized messages
– Identify different channels for communication
– Also, study the customer’s behavior
– Determine the key players
– Besides, learn the tactics to engage the audience
– Follow retargeting the accounts
– Lastly, evaluate your performance and make changes accordingly