What if there was a way to concentrate your marketing dollars on clients that are likely to make you the highest profit? There is. It is known as Account-Based Marketing (ABM), and it can transform your approach to digital marketing and help with Lead Generation. Identify and reach valuable customers with the most effective tactics and software.
Instead of casting a wide net to try to get many clients, account-based marketing is designed to target specific clients. The goal is to build a relationship with decision-makers in that company, with the hopes of not just making a sale, but establishing a long-term business relationship.
Basically, Account-Based Marketing is B2B (Business-2-Business) Marketing. It is Identifying who your most important accounts will be, Gathering as much insight on those accounts, Using that data and insight to align your proposition to their challenges, and Crafting personalized content and engagement around those challenges.
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Account-Based Marketing
Does ABM sound familiar? It shares some characteristics with in-person sales presentations. However, the beauty of digital ABM is that you do not have to get facetime with someone or perfect your elevator pitch to begin your marketing push. Instead, once you have identified where the stakeholders spend their time online and what type of content they consume, you can directly advertise to them while they are online.
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Increased Engagement With Account-Based Marketing
Account-based marketing allows you to weed out less valuable companies early on and ensure Marketing and Sales are in complete alignment — in return, your team can leap into the critical processes of engaging and delighting those accounts much faster. ABM helps your business work and communicate with high-value accounts as if they’re individual markets. By doing this — along with personalizing the buyer’s journey and tailoring all communications, content, and campaigns to those specific accounts — you’ll see greater ROI and a boost in customer loyalty.
The first thing you want to see is increased engagement. Is the stakeholder interacting with your content? Is it driving visits to your pages or other resources? Are they asking questions, liking, or sharing your targeted content? Those are all signs that they are enjoying your message. Of course, what you really want is inquiries about the product. Have you been able to secure meetings or sales through the materials? If not, ABM involves continuing to tweak your message until it results in that type of personalized relationship.
Account-based marketing, also known as key account marketing, is a strategic approach to business marketing based on account awareness in which an organization considers and communicates with individual prospect or customer accounts as markets of one.
– Wikipedia