Account-based marketing: understand this strategy!

Build better loan database with shared knowledge and strategies.
Post Reply
muskanislam44
Posts: 25
Joined: Mon Dec 23, 2024 3:12 am

Account-based marketing: understand this strategy!

Post by muskanislam44 »

Especially in the B2B business universe, companies that work with complex sales and relatively high average ticket prices find it difficult to achieve results in traditional marketing actions, even in the digital universe ; little by little, the need for a more personalized method arose. Having identified this, the Account-Based Marketing strategy arrived as a solution for this market.

As in any situation, when a new proposal arrives that promises whatsapp names to solve a “pain”, especially when it is in the company’s pocket or bank account, many doubts arise. So, how do you know if the best strategy is to invest efforts in Inbound Marketing or ABM ; an acronym used to abbreviate the term Account-Based Marketing?

In reality, these are strategies that go hand in hand . Inbound will certainly enhance ABM actions. However, it is possible to use only one of them.

This content will focus specifically on explaining Account-Based Marketing . During the reading, for those who are already familiar with Inbound, it will be easy to see where the strategies “mix”.

The difference between ABM and Inbound is basically in attraction. But before talking about that, it is also important to say that before any action or marketing strategy, defining the ICP – Ideal Customer Profile and the Persona are two fundamental points. Yes, they are different things. In short, the ICP is the legal profile and the persona is the “individual” profile of that same “guy”. Got it? No? Click here and we wrote a text just about that for you!

Account-Based Marketing

What is Account-Based Marketing?
In the Account- Based Marketing strategy, marketing efforts are targeted and exclusive to each account. How so? After defining the ICP, communication will be exclusive to attracting this customer. It is punctual and specific. Therefore, even though the journey is longer , the ROI tends to be higher. After winning the customer, the relationship marketing strategy begins to keep the customer in the company's portfolio.

In the ABM strategy, each account enters the center of the marketing department as a new market to be explored, with that company as the “icing on the cake”. This is how you build a whole communication to attract them. You need them to want your company as much as you want them, whether as a partner or a client.

Let's look at the following story to illustrate a situation as an example.
A company that owns a streaming platform is going to hold an event to launch a new product or an exclusive interactive or connectivity feature. In order to attract the attention of a company to sponsor one of its innovation projects, it invites the CEO of this company (potential sponsor). The ICP has already been defined here.

Using the ABM strategy, contacts were made with this CEO. Inbound tools sent automated but personalized emails to this Executive with content that was relevant to him. The Streaming platform company knows that he has been opening the emails through open rate analysis reports, etc.

Then the CEO receives an exclusive and fully personalized physical invitation; he is asked to confirm receipt by email, explaining that his invitation offers him a privileged location at the event, the right to a companion, among other benefits...

Finally he confirms and actually goes to the event.

The strategy will certainly only be successful after the event if communication continues. This is an example of an investment that combines digital strategy and other communication formats that generate value. The event was a time to socialize and humanize communication with presence; but never to sign a contract.

Another situation is the case of a company that is interested in becoming a packaging supplier for a large organization that owns other major brands. Its communication and marketing efforts will be specific and focused on attracting the attention of that particular CEO. In other words, there will be no broad communication to attract general leads. Here, the ICP is also well defined.

Segmenting ABM
But what about when the ICP has a very similar profile, is it possible to use the ABM strategy? Yes. According to ITSMA, within the ABM strategy , it is possible to do segmentation, which still differs from Inbound. In this case, ABM – One to One; ABM ​​– One to Few; and ABM – One to Many are established. Here, the funnel strategy is used, but not as comprehensive. In other words, inbound tools can be used in the ABM strategy at the time, for example, of lead nurturing.

In general terms, it is a strategy dedicated to the B2B market that involves analyzing the characteristics and strengths of each company. More complex sales require advanced strategies. The cycle is longer because the investment is high. Attracting this customer, who will invest a lot, requires specific action. Convincing them that your company is the best for what they need is the challenge of personalized communication, which combines relationship and marketing. It is the fine line that divides quantity from quality.
Post Reply