If you’re reading this, you probably already know what ABM is, but just in case a refresher course is needed, ABM stands for account-based marketing, and it’s the newest strategy to successfully market to corporations and/or clients. Account-based marketing is different from normal methods of marketing. Normal methods of marketing say that you get your product out to as many views as possible, everyone is a customer and should not be forgotten.
Now, despite how it may seem, account-based marketing doesn’t ask of you to forget other customers but focus in on them. Think of every client and/or company as their own market. Research the key players inside the company and tailor your marketing to that client for an almost guaranteed higher ROI.
Now I know I wrote in a previous article that account-based marketing is the future and is the logical evolution of marketing as we know it, so right now you must be thinking to yourself, “Why should I bother with anything else?” Well, as amazing and effective as account-based marketing is, it isn’t always the right choice when it comes to specific circumstances.
Account-based marketing is something you should implement when your teams are working to their capacity. While it is true that account-based marketing strengthens the communication between the sales and marketing team, there has to be some connection, to begin with.
To successfully implement account-based marketing, everyone has to be on top of their game. If one person slips up, say one of the teams misidentifies one of the key players in the company, that could lead to a fatal mistake that ends with that company dropping your business and all those resources that were spent were for nothing.