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1. ABM is not something to be taken lightly. In many companies, it entails a lot of work and requires alignment between more than just sales and marketing. Consequently, you'll want to fine-tune the internal dynamics.
2. It takes time to integrate data across platforms, define new accounts, set them up with messaging, and wait for the monthly sales cycle to prove ROI.
3. ABM requires in-depth analysis of accounts shared between internal stakeholders.
4. Account-based marketing requires a well-built script.
5. Just because software vendors put many of the same fields does not mean that the solutions are the same. The depth of capability in this field can vary greatly. Before selecting software, you need to think through the options for use and long-term strategy.
6. Some of the software products are aimed at specific industries.
7. Other problems associated with AVMs include tracking results, personalisation, budgeting and scaling campaigns.
Technology focus, financial services, clothing and fashion, management consulting. Telecommunications, marketing and advertising are among the leading users of ABM marketing.
ABM tools are designed for different marketing and sales roles. Marketing management teams, sales executives, sales representatives, account managers, etc. benefit from ABM marketing.
More effective lead generation
Use limited resources where they have the most impact.
Better conversion to closed deals
The likelihood of conversions is higher compared to other marketing methods.
91% of organisations report that when they use an ABM approach, they are more likely to convert that deal into a closed deal than with a non-ABM approach.
Return on investment is much clearer
With a clearly defined 'market' or account, ROI can be calculated with reasonable certainty.
ABM provides the highest ROI of any B2B marketing strategy or tactic. 65% of B2B marketers agreed that ABM offers significant benefits for attracting new customers.
Easier to set goals and analyse
Campaign performance analysis will yield tangible results as you are looking at a smaller set of target accounts with the plans you have made.
Customers like it because it's personal
"75% of customers prefer personalised offers" according to Aberdeen. ABM personalises everything on the account.
What is ABM marketing?
Account Based Marketing (ABM) selects targeted potential customers and presents your brand and content that fits their business needs. ABM is not about numerous potential customers, but about the best possible selection of products and services that best suit those customers. Each account is seen as a market in itself, and each must have a strategy tailored directly to them. Think of it as very personalised marketing in a B2B context. ABM will help you improve your revenue management.
Please focus on the needs of your target customer and why you are a good fit for their organisation and never forget that.
ABM is part of the ABM, ABA (account based advertising) and ABS (account based sales) continuum. As a result, successful ABM requires involvement not only in marketing, but also in sales, product, customer success, and executive teams must demonstrate commitment and discipline to drive performance and growth with the accounts that matter most.
Where ABM and other demand generation activities intersect:
Inbound marketing
Using different types of pull marketing - blogs, white papers, search engine optimisation, webinars, social media, content marketing - inbound marketing aims to attract new leads and increase brand awareness. Its first step is to attract the right customers or quality leads. The second step is to open a dialogue, engage and turn a visitor into a lead.
The two main differences between inbound marketing and ABM marketing are tactics and scalability. ABM works best when it targets a smaller group of accounts/customers.
Outbound marketing
With outbound marketing, companies find potential customers and reach them (rather than the customers who find you) through tactics such as sending purchased data emails, internal cold calls, and paid digital or media advertising. In outbound marketing it can be difficult to target and ROI is difficult to track.
ABM - which should not be confused with targeted outbound marketing - is much more personalised and strategic.
Outbound sales
In outbound sales, sales and/or sales development, their campaign is launched until a connection is made to a specific account. Marketing may or may not run outbound marketing programmes for this targeted list of accounts.
In ABM, sales and marketing collaborate to build relationships targeting these accounts.
What can an ABM marketing solution do?
Choosing the right ABM marketing solution is not easy. Some services are complements to existing CRM systems or other marketing solutions. In some cases, ABM marketing is part of the product functionality. Then there are certain point-to-point software solutions for different aspects of ABM marketing. The choice should depend on your needs, context and scale.
A successful approach to ABM marketing must address the following issues:
Defining the right accounts and targets within them.
Delivering marketing and sales messages to those people tailored to their needs.
Measuring how they respond.
Your choice should ensure that you cover all these aspects with existing and new software.
What are the main benefits of ABM marketing?
More effective lead generation
Use limited resources where they have the greatest impact.
Better conversion to closed deals
Probability of conversion is higher compared to other marketing methods.
91% of organisations report that when they use an ABM approach, they are more likely to convert that deal into a closed deal than with a non-ABM approach.
Return on investment is much clearer
With a clearly defined 'market' or account, ROI can be calculated with reasonable certainty. ABM provides the highest ROI of any B2B marketing strategy or tactic.
65% of B2B marketers agreed that ABM offers significant benefits for attracting new customers.
Easier to set goals and analyse
Campaign performance analysis will yield tangible results as you are looking at a smaller set of target accounts with the plans you have made.
Customers like it because it's personal
"75% of customers prefer personalised offers", ABM marketing personalises everything on an account.
