An increasing number of businesses are embracing account-based marketing (ABM) as a highly successful strategy for finding new clients business-to-business (B2B). The evolving nature of online tools available for businesses and their marketing teams makes finding their perfect clients easier than ever before.
What is Account-Based Marketing?
Account-based marketing, or ABM, is a strategy that focuses on engaging with specific and targeted decision-makers within a chosen business. It is characterised by a collaboration between sales and marketing departments: the marketing team drafts content bespoke to said business, before passing it on to the sales team for their approach.
ABM is still a relatively new concept to many because the majority of businesses still see marketing and sales as disparate departments within their organisation. Only 22% of companies consider their sales and marketing departments well-aligned with the same goals, and this figure is double what it was four years ago.
In the past marketers were required to cast wide nets in an attempt to generate and follow leads, whereas now, those using ABM work closely with sales to identify key prospects and targets. They then tailor content to those identified as key leads, relaying it back to the sales team who take it forward to pitch.
ABM encourages businesses to focus on the high-value accounts that represent the biggest opportunities. For instance, assume you sell an expensive consulting service; rather than taking a blanket approach — going after small businesses, SMBs, and enterprises — you would instead start by focusing on those accounts that have the biggest need and an adequate budget.
By combining efforts and resources, marketing and sales can engage and convert accounts more efficiently, and that well-considered approach matters at a time when buyers are increasingly insistent on outreach tailored to their business and even their personal interests within the business.
ABM requires a personalised and personable approach from both marketing and sales departments, and this is essential when aiming efforts at a few select, high-value accounts. If you research and personalise well, buyers are much more likely to be open to your approach and engage, ultimately leading to higher revenues in a shorter time frame.