23 Aug Account Based Marketing: What is it?
Account Based Marketing (ABM) : What is it?
Account based marketing is gaining lot of popularity in recent years. Though not a fairly new concept in the sphere of B2B marketing, it is creating lot of buzz now-a-days. Those marketers who have kept themselves updated with new terms in the sphere of B2B marketing would surely be conversant with the term “Account Based Marketing”.
The tremendous advancement in technology as seen in the last few years has led to more and more companies adopting the strategy of Account Based Marketing on a grandeur scale than ever before. In spite of its growing popularity, many marketers in the B2B field still remain clueless about ABM. They have no idea that Account Based Marketing is likely to be one of the largest revenue generators for B2B businesses in the coming years.
1. Account Based Marketing – A Collective Decision Making Process
ABM strategy is primarily based on collective decision making process. According to ABM theory, the B2B buying decisions are not taken by a single person but by a group of persons. Those B2B companies that look up at the decision of an individual are likely to get only a part of the overall picture while those B2B companies that look at the larger picture of collective decisions can get a vivid idea about the overall interest of the account is in the solution.
2. Account Based Marketing Calls for Adoption of Brand New Technology
With constant emergence of newer marketing technologies- Some evolving from already existing technologies and some evolving out of modern thinking and some totally contrast to what was once known, ABM can be categorized to the latest and brand new marketing technology that opens the doors for newer marketing strategies
3. Account Based Marketing is a Rapidly Emerging Market
In the ABM world, there are only very few big players. But similar to other technological sphere, this sector is also growing at a faster rate with new players coming in to the arena. This sector is currently seeing lesser adoption rates when it comes to technology.
4. ABM Aids in Development of Prospect Exclusive Offers
One of the biggest advantages of companies resorting to ABM is that of personalization and application. ABM drives at personalizing content marketing strategies in an effort to create product exclusive offers that are built for a specific target account.
For those marketing companies on the lookout for something new, Account Based Marketing is the perfect technique to adopt. With plenty of vendors to opt from, ABM is the perfect and best way to generate a dynamic and richer online experience.
The ABM strategy is also the most effective way to target your accounts. Irrespective of what strategy has been adopted by a marketing firm, ABM should be always considered in all the future plans.
A well designed ABM program assists marketers to work closely with the marketing teams towards a goal of shared objectives. This enables in developing a deeper and better relationship with top tier executives as a result of deep trust and strong bonding thus resulting in the generation of the highest revenue.