Account-based Marketing (ABM) is a strategic approach to business marketing in which an organization considers and communicates with individual prospect or customer accounts as markets of one.
What does that mean?
ABM introduces a few key concepts that somewhat depart from the traditional approach.
- Focus on key decisionmakers as a whole, rather than one “persona”
- Each account treated as a “Market of One” with messaging and value propositions customized to the company as a whole
- Content aimed at specific business problems for your target company
- Priority on the lifetime value of each customer, rather than that one-time sale
The above isn’t necessarily new – most of these tactics have been practiced with varying degrees of success for years:
- Outbound marketing (email, phone, direct mail, social media)
- Inbound marketing (blogging, webinars, info-videos etc)
- Technology tricks (Geo-targeting, PURLs, social media ads, GoogleAdwords)
- Events (trade shows, conventions etc)
What’s new is the difference in the way how you can tie all of this together.
The fundamental adjustment here is switching the focus from Persona to Account.
Traditionally, marketing approaches are based on identifying the right type of decisionmaker (aka a persona) and focus the campaign to attract their attention. Account-based marketing departs from this in favour of finding groups of specific influencers.
A typical enterprise purchase is influenced by 17 people, according to a 2014 IDG Research survey.
The key takeaway from all this?
While everyone else is obsessed with getting past the Gatekeepers of the C-level executives, you should get busy with getting your message in front of different people at different levels of authority and different job functions. Including the Gatekeepers.
You’ll need some powertools to accomplish this and the right know-how to use them – get in touch with us today and ask about Marketing Automation.