Account Based Marketing or ABM is the latest buzz word in the world of B2B marketing. Sometimes also called key account marketing, Account Based Marketing works as a highly effective strategic approach which helps to cater to specific goals for every target account. With the help of B2B Account Based Marketing, it is possible for organizations to communicate selectively with individual accounts or targets as single and definite entities. In other words, it is a one-to-one approach with an aim to streamline the marketing efforts. For most instances, Account Based Marketing methods are used in different types of enterprise-level brands having more than a thousand employees.
Importance of B2B Account Based Marketing
The main reasons for which B2B companies make use of Account Based Marketing are stated below.
- It helps them to engage in the company’s sales process earlier so that they can take advantage of higher value opportunities
- Effectively combine various strategic marketing initiatives and actions with account and sales management strategies
- Optimize ROI and overall value from the marketing campaigns
While Account Based Marketing has been in use for quite some time now, in the recent years it has gained added importance. Even a few years ago, most of the marketing efforts were very much generalized. However, with the rise in business competition there is now an increased practice of inbound marketing that makes use of customized and relevant content to lure in new buyers. Every customer is different and this means that they respond differently to the various types of content that they see. It also depends on their overall decision making process as to whether they are more likely to make a specific purchase or not. With the help of Account Based Marketing, it is possible to target a single company and the various decision-makers working for that company so that highly effective marketing methods can be implemented.
Benefits of B2B Account Based Marketing
It is therefore needless to say that Account Based Marketing offers a host of important advantages over the traditional forms of B2B marketing. Let’s have a look at some of them.
Highly Customized Communications
One of the most distinct benefits of using Account Based Marketing is of course its ability to implement customized communications. This naturally helps in to draw and engage prospective customers in a better way. With Account Based Marketing, it is not only possible to strike a chord with the customer on a very personal level but it also helps in bringing great value to the buyer. This can naturally encourage them to make the purchasing decision. Fine tuning the content so that it immediately appeals to the prospective customer is possible only through careful and dedicated research. This research and effective presentation of content is the hallmark of Account Based Marketing.
Better Implementation of Available Marketing Resources
With the help of Account Based Marketing, it is possible to streamline all marketing efforts so that the best results can be achieved. By focusing the marketing efforts on a specific account, it helps a company to avoid spreading too thin. It also helps the marketing team and the sales team of an organization to work together and brainstorm new ideas so that they can effectively reach out to their target audience and secure sales for the company. This can actually help the company to boost its ROI over time.
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