The B2B marketing world has been introduced to a new concept set to give revenue a boost. ABM (or account-based marketing) is fast becoming an intrinsic part of enterprises from various industries.
A recent study by Demandbase reveals that 92% of marketing companies regard ABM a must-have for improving marketing and sales alignment.
But what is it exactly? And why all this buzz about it being an important factor for success?
Let’s start by addressing the most common problem faced by B2B marketers: engaging the right people.
Producing messages that appeal to one’s target clients has to take into account their present needs. Current strategies mostly involve channeling ads and personalized messages to individuals such as C-suite executives, IT administrators and the like. But while these strategies trigger some successes, they only manage to provide a partial picture of an enterprise’s buying behavior. Modern B2B marketing has to consider not just the insights of individual actors, but the people working under these actors as well.
Matthew Sleezy of Clickz.com specifically defines ABM as a theory “based on the collective decision-making process. It takes into account that most B2B buying decisions are not made by a single person, but rather by a collective group of people. If you are only looking at an individual, you may only get a part of the picture; seeing the collective acting together helps you to truly understand how interested an account is in your solution.”
In other words, the strategy recognizes that not all buying decisions are based on individual biases, and instead focuses on managing campaigns to fit the needs of certain groups. With ABM, B2B marketers are able to structure their campaigns based on the dynamic preferences of whole organizations simply by promoting real-time ads to shared IP addresses thereby enabling engagements with everyone (including new workers who haven’t been targeted before). Because everyone gets a fair share of the message, it is easier to accurately pinpoint areas in a campaign that stands close to a possible sale, and acknowledge the need for developing those areas.
With a consistent ABM campaign, marketers will be able to target accounts that sales reps are confident enough to engage. One last question: How can you make ABM more effective?
Simple: Use an updated marketing automation program that aligns sales with marketing to create campaigns addressing the needs of individual accounts.
In addition, you can create offers that resonate well with your target’s current preferences to significantly increase the amount of appointments you can set.