Account Based Marketing (ABM) empowers B2B marketers to approach strategic customer engagement successfully. It does this by considering an individual client as their own market. This allows for a strategic approach aimed at coordinating a ￼personalised strategy that incorporates both marketing and sales team efforts.
ABM helps companies shift their focus to targeted accounts that are identified after establishing clear business goals, this helps create an aligned value proposition that ensures the best possible fit for their product or service. To get the most out of ABM, we must tackle some common misconceptions associated with this approach.
"ABM is an unnecessary add-on"
It is not uncommon for business executives to assume that account based marketing is an additional strategy, rather than a foundation of success. If you consider that ABM is a different approach to your existing programs, rather than as an additional expense. To do this, businesses apply pilot programs to show the benefits of ABM, with companies starting with segments and building their program from there. The success of smaller initiatives will help prove the effectiveness of ABM and enable their growth, resulting in a comprehensive demand generation strategy.
"ABM is for large enterprises only"
Many small startups and high-growth companies steer away from ABM due to the misconception that the investment and resources required, is only suitable for use in large companies. However, ABM can be applied to organisations of any size. In fact, the focus, efficiency, and growth impact associated with ABM strategies could provide high-growth companies with the edge they need to scale to the next level. Start-ups can also benefit from ABM, utilising it to gain focus, unify accounts and ensure that their marketing strategy is explicitly aligned to the overall growth strategy.
"ABM is exclusively for marketing"
The idea that ABM is solely a marketing effort is inaccurate. However, for companies to be successful, both marketing and sales should be aligned with target accounts and revenue metrics. ABM means marketing must collaborate closely with sales to identify and apply campaigns that will be effective, but you can effectively think of ABM providing a "digital pre-sales" function.
Sales benefit from marketing's alignment to ABM by driving unique digital insights across their target accounts list, assuming your MarTech (Marketing Technology) approach includes personalisation, ABM can ensure personalised relevant conversations are carried in to the physical world too.
Make the most of your marketing and sales efforts by developing the right strategies for the right customers. If you need to show growth fast – we can make it happen. Triggerfish helps business leaders plan and execute efficient growth strategies, talk to us today.