Account based marketing (ABM) is a marketing approach that focuses on high-quality accounts. The traditional marketing funnel is turned upside down, so to speak. The approach is particularly popular with customers in the B2B sector, where the purchase decision depends on several people. The accounts (= the companies) are seen as a separate market. Your company tries to convince the accounts of its own offers with campaigns tailored to them.
In the first part of this series of articles you can read about the principles of account based marketing and what advantages you have with this marketing approach.
This part is about how account based marketing works. For this we dive into the different steps of ABM:
At this point, the team or persons responsible for ABM have been determined, the strategy has been set, the accounts and associated persons have been identified and the content for the campaigns has been set. This means you can get started with the implementation.
Examples of implementation of account based marketing campaigns:
The campaigns must be optimally tailored to the desired accounts. If you are targeting successive accounts that are very similar, it makes sense to reuse points from the strategy and content and not reinvent the wheel each time.
Some of the steps from ABM were not super different from other marketing approaches such as inbound marketing. The biggest difference is that only a few are targeted instead of many. The account itself builds a market by identifying and targeting the different key people.
A trend that has already become apparent in recent years is also evident in account based marketing: the boundaries between marketing and sales are becoming more blurred, as the two departments have to work closely together and thus there is no clear handover of the respective lead.
For whom is it worthwhile?
Acccount based marketing is worthwhile for companies that have customers from the B2B sector. The marketing approach is particularly useful if you want to address large accounts or companies. Examples here are accounts that are the most important companies in the industry, accounts that need a complex solution tailored to them or you want to inform the account step by step about complex offers. It is important for the campaigns that the account does not already have all the information for the decision, otherwise it will be difficult to bring in your arguments and ideas.
The application of ABM certainly requires some resources financially and organisationally. Therefore, the marketing approach is worthwhile especially if you can expect a large order volume.
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