Account Based Marketing — A primer
Marketing is constantly evolving with new innovations and developments in the B2B marketing realm, Account Based Marketing (ABM) has become one of the most popular developments in recent times.
What exactly is Account-based marketing?
Account-based marketing is a strategic approach that concentrates the sale and marketing resources on a clearly defined set of target accounts within a market and employs personalised campaigns to resonate with each account.
In simpler words, ABM directs the sales and marketing resources to a specific set of accounts.
In one word ABM is personalisation.
The best way to understand that is to understand the process.
A basic ABM process is as follows
1. Identify High-value accounts.
2. Create and reach with personalised content.
3. Build a long term relationship by engaging with them.
That is all ABM is about.
That’s quite simple.
If you think about it, Account-based marketing isn’t a new concept. It’s been used traditionally by Sales functions for ages to attract and grow their key accounts.
So why is ABM suddenly taking the B2B world?
Because of the technology advancements we get to focus more on customers and really get to know them to deliver the right message at the right time. It gives us the opportunity to ensure that all customers get consistent experience. This sounds ideal and should have been the go-to strategy for everyone.
However, the key problem with ABM is that it requires in-depth research and knowledge of each account to understand them, without that it’s impossible to create personalised campaigns and companies didn’t have the resources or the time for a large set of accounts.
Which is why ABM had a huge scalability problem.
But those days are long gone as technology developed scalability issues are getting solved and it makes it easier to deliver personalisation in real time with precision. Which is great because customers expect personalisation.
Proof of this is in the data.
- 88% of marketers say their customers/prospects expect a personalized experience. (Evergage and Researchscape International )
- 74% of marketers believe personalization has a strong impact.(Evergage and Researchscape International )
- 46% of the B2B decision makers are millennials (Think with google )
How does Recotap come in? Or Here is how Recotap comes in
We have combined Artificial Intelligence & Big data technologies with Account-based marketing, thus resulting in the creation of a perfect solution to launch your ABM campaigns at scale.
- Lead Generation: The entire identification process of ABM is automated.
- ABM platform: We’ve developed a platform to launch your targeted ABM campaigns at scale.
How does Recotap help you?
- Clear ROI:
- ABM continues to deliver higher ROI than traditional marketing; 45% are seeing at least double the ROI (ITSMA).
- 97% of marketers reported that account-based marketing approaches had the highest ROI (Alterra Group)
ABM is an extremely precise, targeted, personalised form of marketing which makes it easier to measure ROI.
2. Increases Revenue:
- Companies using ABM generate 200% more revenue for their marketing efforts compared to those that don’t. (FlipMyFunnel)
- 75% of the consumers stated that they prefer personalised offers ( Aberdeen Group )
- 69% of companies rated personalizing the customer experience as top priorities ( EverString and Ascend2)
With the help of ABM, the content you develop will be based on research for the target audience and the campaigns will be specifically designed for them.
As ABM is targeted to a specific set of accounts, it allows marketers to focus their resources more efficiently and saves time.
5.Marketing and sales alignment:
- Businesses which have sales and marketing teams aligned have seen an average growth of 32% while the less aligned businesses see a 7% decline in growth. (Forrester Research)
Recotap ABM enables marketing and sales to work together as it focuses on defined target accounts.
ABM makes tracking and measuring goals more effective and precise. As it allows you to measure the effectiveness of each campaign whether email, advertisements or webinars on an ongoing basis. This information makes it easier to know what campaign is really working and make changes accordingly.
Now that you have a better understanding of what ABM is and how it can benefit you.
Let’s check if ABM is right for you?
Fill in this form to evaluate if Account-Based marketing is the best fit for you.
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