In today’s digitally connected and always-on-the-go world, companies are ensuring to invest in top-notch marketing strategies to stand out different amidst the lot.
They are out there to provide their customers with the best services — from hosting online and offline events to having impressively active social media accounts, they are doing it all. One such marketing technique that is the talk of the B2B town is Account-based Marketing (ABM), also known as key account marketing. ABM, as it is shortly called, is a combination of marketing and sales team expertise that provides tailored marketing.
What is Account-Based Marketing (ABM)?
A form of marketing that uses highly targeted, personalised campaigns to win over particular accounts is known as Account-Based Marketing. ABM or key account marketing is a marketing technique that uses the combined expertise of marketing and sales that focuses on the specific target group of accounts that requires customised marketing or something that is specifically designed for a particular brand or company.
How does Account-Based Marketing work?
By focusing on a specific niche group of customers, Account-Based Marketing views each as a market of one and then targets, specific people at each targeted account. An ABM marketing technique targets a few high-value accounts with personalised content and messaging, unlike other B2B marketing campaigns that focus on the largest possible group of potential customers.
Firstly, identify your high-value target accounts and then research those accounts. After this, develop customised marketing campaigns wherein you can run these campaigns to the target account. Finally, analyse, the data to see how your campaigns are performing.
Benefits of Account-Based Marketing
Who doesn’t like a tailored, well-curated item or activity under their belt? After all, customisation gives you the best and biggest advantage of selling more.
In B2B, account-based marketing strategies can help you increase the worth of your existing customers. With ABM’s personalised approach and attention to detail, customers are easily drawn toward your brand and likely to allow you to specifically nurture your primary decision maker, along with all relevant prospects. It also structures your marketing efforts on key accounts to drive the most revenue.
Moreover, with ABM, you can go deep, wherein you can design campaigns specifically for one account so that every touchpoint along the buyer’s journey is personalised.
Also, ABM aligns Sales and marketing and encourages marketing teams and sales organisations to work together, identifying target accounts, and crafting customised campaigns for them. This way fewer resources are wasted because they narrowly focus on a small number of accounts that are most likely to close sales. This frees up resources that would previously have been wasted.
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