Unsure if Account-based Marketing (ABM) is for you? Don’t know where to start?
In short, ABM is a strategic approach that coordinates personalized sales and marketing efforts, to target specific accounts for new business and create deeper and broader relationships with existing customers.
Since the beginning of 2016, account-based marketing has grown rapidly in popularity and interest.
But what are the benefits of account-based marketing?
- Better use of marketing resources by focusing on a smaller number of accounts
- More personalized, efficient marketing strategy; creating stronger engagement with prospects
- Optimising upsell and cross-sell with customers
- The ability to close bigger deals within targeted accounts
To name just a few!
It’s important to ask yourself if ABM is the right strategy for your business. Although it is a very popular strategy, that does not mean it’s right for your business. Ask yourself the following questions:
- Is your product or service best suited to specific type of business within an industry?
- Are your competitors using industry-specific marketing and do you need to do something more focused and targeted to gain competitive advantage?
- Is your product or service a commodity with high competition or is it a new concept that people may not necessarily know solves a problem they have?
- Do your salespeople focus on key accounts, named accounts or have a specific target list they want to sell to?
- Are sales often rejecting marketing leads based on a bad fit to their ideal company profile? Do you need to improve alignment between sales and marketing?
To help you decide if account-based marketing is right for your company, we have asked expert, Daley Robinson, to create a 5 part series on ABM – his first posts include:
These articles are in-depth actionable strategy guides to help improve your ABM efforts to improve your Sales and Marketing alignment!