Introducing The Definitive Guide to Account-Based Marketing
By Ellen Gomes
Author: Ellen Gomes
If you’ve been keeping up with digital marketing trends, then account-based marketing is most definitely on your radar. In fact, you’ve probably heard about it so often that it may have started to feel like just another buzzword.
But account-based marketing is not to be ignored and it’s not just another buzzword. Buzzwords become dated terms as time passes, but it’s just the tip of the iceberg for ABM as more B2B marketers than ever are realizing its significant impact and value.
Why Is Account-Based Marketing Gaining Traction?
At its core, account-based marketing (ABM) is a targeted strategy that focuses on delivering personalized programs, messages, and content to select companies, and the leads within them, in an effort to engage them and move them towards a goal—whether that’s an initial sale, cross-sell or upsell, contract renewal, or even advocacy.
While it’s not a new concept, ABM is experiencing a resurgence and gaining momentum because of recent technology innovations that allow organizations of all sizes to practice ABM in a scalable and automated way. As Matt Heinz, a notable industry influencer, put it “ABM isn’t about company size. If there is more than one person in the organization you need to influence to get the deal, ABM applies.” And with ABM solutions that are either native to a platform or complementary, marketers can plan, manage, and measure their campaigns and collaborate with other cross-functional teams more effectively.
Is ABM Right for Your Organization?
Smart marketers know better than to jump on the bandwagon and cave into “shiny new objects.” Account-based marketing is a strategy and not a tool, although it may require one, to support it well you will need to shift your overall marketing strategy, budget, and/or resources. To determine whether ABM is right for your business model, ask yourself the following questions:
- Does your sales cycle involve a research/evaluation phase due to the cost or level of commitment required from the buyer and often involve multiple stakeholders?
- Do your sales and marketing teams want to make a bigger impact with a more strategic focus?
- Do your best-existing customers who generate the most revenue for your business have distinct characteristics OR have you identified accounts with distinct characteristics that have the potential to generate more revenue?
- Are there organizations with needs that your solution clearly addresses?
- Do your organization’s goals include expanding into a new segment, territory, or vertical, or going after your competitor’s customers?
- Does your organization offer several products or services and have goals to grow customer lifetime value through upsell and cross-sell?
If you answered yes to any of the above, then an ABM strategy will benefit your organization. How you choose to practice ABM will depend on your objectives and bandwidth. Some organizations are in in the early stages of the ABM maturity curve, exploring whether ABM is right for them, while others are more seasoned experts, looking for ways to fine-tune their strategy. Regardless of your stage, the key to success is to Go to the full article.