What is Account- Based Marketing?
Account Based Marketing involves a targeted approach. It is a strategic approach to B2B marketing that brings sales and marketing together. It is about focusing on the right leads categorized according to the segment. In ABM, the marketing resources are dedicated to a specific set of target accounts and contacts. Account-Based Marketing is typically employed in enterprise-level sales organizations.
Bev Burgess was the first to codify the trend. She was the VO of ITSMA. She co-created the approach with organizations like HP, Accenture, Fujitsu, etc. After this, others have adapted it and modified it accordingly. The main focuses of ABM are the key accounts that are identified within organizations.
What is the strategy?
· Discover and define your high-value accounts.
· Map accounts and identify key internal players.
· Define content and personalized messaging.
· Determine optimal channels.
Benefits of Account- Based Marketing:
· It keeps the marketing and sales aligned.
· ABM maximizes your business’s relevance among high-value accounts.
· It helps deliver consistent customer experiences.
· You can measure your return on investment effectively.
· It assists to expand business through account relationships.
You are purchasing a product or service through an online sales channel. You would have been noticed as a Basic, Standard, Premium customer. The customers are segregated according to the amount they spend. Each category of customers will receive different messages regarding offers and promotions.
Example: In my surprise business “The6.in” there are customers who have purchased surprise plans for Rs.10, 000 and also Rs.60, 000. Both the customers will not belong to the same category. The messages communicated to each of them regarding offers would be different.