Account-Based Marketing(ABM) refers to B2B marketing where the sales and marketing teams work together on best-fit accounts and convert potential customers into clients. Although the traditional B2B marketing funnel takes a broad approach with the goal of capturing as many leads as possible, the funnel gets narrower towards the bottom resulting in few or no conversions. On the other hand, ABM challenges the traditional lead-based approach to marketing by identifying and targeting best-fit accounts that have the biggest revenue potential for your business.
In addition to the change in strategy, marketers use the latest tech tools to send personalized messages to potential customers and other leads on the channels they actively use. With more companies shifting to this form of marketing and aiming for decision-makers within high-value accounts, the sales cycle is also growing as compared to before.
Here are the benefits of ABM:
A marketing team plays an important role when it comes to sales processes. Hence, the first step for both teams is to identify and agree on key target accounts. The sales and marketing teams must focus on the same goals in order to work together harmoniously, ensuring that the company generates revenue.
With the traditional way of marketing, companies spend money first on acquiring as many leads as possible even before qualifying them and later determine if the leads are a fit or not. However, in the case of ABM, figuring out accounts that are best for your products or services before you go after them is far more cost-effective, and then spend your marketing money reaching them on platforms, such as across the web, on social media, at events, and so on, where they’re active.
Given that both teams are working towards the same goal. With ABM and targeted advertising, the sales team can easily reach the target audience and have successful conversations with buyers as they have already been exposed to the company’s messaging via the marketing team. As a result of right messaging in front of key decision-makers helps the business to speed up the sales cycle.
In today’s world, marketing is all about the customer. If your business is able to adapt to the changing dynamics of consumer demands then ABM is for you. Buyers don’t look for a sales call or a marketing email rather explore solutions that are meaningful and relevant.
It is no secret that the field of marketing and advertising is ever-evolving. Therefore, stay updated on the current marketing strategies and run multichannel campaigns effortlessly. The Marketing 2.0 Conference offers a platform for individuals and businesses to gain insights into the latest trends and work towards the development of the industry.
Shams Raza oversees the Marketing 2.0 Conference team and is committed to staying current with social media and advertising developments. A number of hot issues will be covered at the next Marketing 2.0 Conference, including taking a stand on societal issues, the rise of fraud, scams, and spam in the advertising industry, and how gamification is going to take over the internet.
