Account-based marketing, also known as ABM, is strategy used within B2B marketing to hyper-target the right message, to the right people, at the right time within companies deemed as desirable accounts. ABM is truly useful in situations where there are multiple buyers or stakeholders, because there is a need to formulate messaging that speaks to the varied needs or pain points of those weighing in on a buying decision. This approach has a proven track record of boosting company revenue, and reducing time spent on marketing efforts that lead to a closed sale.
Digital demand generation has historically been a one-to-many approach, with a focus on reaching as many people as possible within an identified targeted audience. This form of marketing is used to source a large amount of potential leads to fill the buyer’s journey funnel for marketing and sales teams. The content created here is meant to appeal to the masses, bringing prospects to marketing and sales teams to be vetted based on how qualified the lead is.
Account-based marketing is different in the way that it is a one-to-one approach. The process begins with identifying key accounts to target, then formulating content to speak to the specific needs and wants of each account. Rather than filling a pipeline, B2B account-based marketing is used to close specific, high-value accounts. This marketing practice is most relevant to B2B efforts, and is typically used in enterprise-level sales organizations.
Within ABM, there is no competing inbound vs. outbound methodology. ABM simple picks up where inbound marketing leaves off, working alongside a company’s existing inbound marketing operations. Together, the two approaches achieve increased success rates, and in-turn new business.
Interested in learning more about increasing B2B revenue? Download the Breakthrough ABM eBook for further information and insights.