If your company hasn’t yet embraced account-based marketing (ABM), it’s a good idea to get up to speed now, as the chances of this change taking place are more than likely. In June of 2016, SiriusDecisions revealed a 21% increase in the number of companies that have a full account-based marketing program in place. In this two-part blog series, we’ll walk you through the basic concepts of account-based marketing, as well as how to begin implementing ABM in your business. Spoiler alert: it aligns marketing with sales.
Okay, you say. But what does that mean?
ABM is a marketing strategy that concentrates sales and marketing resources on specific target accounts within a market and creates highly personalized campaigns directed to reach those accounts. So, one company becomes its very own market. Alone. A market of one.
“Account-based marketing is particularly well suited for the acquisition of high-value customers and traditionally costs more to implement than traditional marketing programs.”
Who uses account-based marketing?
Currently, it’s most often used by large sales organizations for their B2B clients because those companies typically have many buyers (or decision makers), and the goal, according to Sam Balter of HubSpot is “to address the needs of organizations by connecting with all of the stakeholders within it. That’s one reason why it works so well in B2B – oftentimes you have to work with five or more stakeholders in a given sale.”
Account-based marketing is particularly well suited for the acquisition of high-value customers and traditionally costs more to implement than traditional marketing programs. But, with advancements in marketing technology, a wider range of businesses can employ ABM at a lower cost.