Account-based marketing (abbreviated as ABM) or “strategic account marketing” in French has been really trending in the world of digital marketing for more than a year or two and everyone is talking about it. And according to a study Australia Mobile Number Database out by the consulting firm Sirius Decisions recently, it is an irrefutable fact. This study found that more than 70% of B2B marketers develop specific ABM-type programs, with staff dedicated exclusively to this area. And in 2020, nearly 75% of marketers surveyed among nearly 200 large U.S. B2B companies plan to increase their ABM marketing budget in the future.
The Ultimate Growth Strategy Intermediate. The Ultimate Growth Strategy Retention: The Ultimate Growth Strategy To download Additionally. It has been noted that approximately 85% of marketers describe this type of marketing. As delivering higher returns than any other marketing approach. So today, can strategic account marketing be the magic bullet for your business? Strategic account marketing does indeed sound promising, but setting up an ABM strategy turns out to be quite complex. This is what we are going to discuss throughout this article, but before that, we must answer a crucial question: what is account-base marketing?
Strategic Account Marketing Is A Marketing Strategy
Strategic account marketing is a marketing strategy in which high value business accounts are identified and marketed directly. One-to-one, as individual units. It is therefore a personalized approach. In fact, target accounts or high value prospects are identified. The main stakeholders of these companies are targeted. And then marketing strategies are implemented through various channels to carry out a highly personalized marketing action. Once understood what were their specific needs. Account-based marketing focuses on a few target accounts or high-potential accounts that offer the prospect of boosting your results. What is essential, therefore, for marketers working on this model is to send highly targeted messages to these people. Because of their earning potential and impact on sales and marketing.
Moreover, the other specificity of this type of method is that it requires collaboration. Between your sales team and your marketing team. Which must be in perfect symbiosis. Should you implement an ABM strategy? Now that you know a little more about what ABM really is. You might be wondering if it’s really worth getting into this type of strategy. There is a reason, all the same. Which could encourage you to embark on this innovative marketing technique. And which we have already touched on: it seems to be effective in generating a significant return on investment. In fact, a recent study by Altera Group found that 97% of respondents (who have been using ABM in their business for at least a year). Said that this method had a higher, if not much higher. Return on investment than other marketing campaign models.
Should You Implement An Abm Strategy?
While it’s all the rage right now, strategic account marketing isn’t necessarily the best way for every business. In reality, ABM is generally a B2B marketing approach involving specific organizational systems at the sales level. Which is rather adopted by large companies (more than 1,000 employees). This is because there are usually multiple stakeholders involved in the sale. If your number of employees is less than 1,000 and you’re not in the B2B industry. That doesn’t necessarily exclude you. But you should consider whether it makes sense for your business model. And sales cycles and marketing.
It may not be realistic to approach strategic account marketing. If you are a small business with limited marketing resources. Including time. But if you are curious and want to try implementing this strategy for your e-commerce, why not give it a try? Account-based marketing seeks to kick-start the sales process earlier with higher-value opportunities. Get the best possible return on investment from marketing campaigns. And align marketing, sales, and revenue management. Accounts for long-term success. So, even though it may seem a bit difficult to implement, once you have set the right strategy. Your profit could be substantial and worth all the effort invested. Another thing that is important to mention is that there are ways to automate ABM. As long as you have the right data and a system to communicate between sales and marketing.