Once upon a time, defining account-based marketing (ABM) was easy. ITSMA pioneered ABM in the early 2000s as a strategic approach to create sustainable growth and profitability with a handful of a company’s most important clients. The goal of ABM was bringing the mindset, skills, and resources of marketing to individual account teams, and collaborating closely with sales, delivery, and key executives toward achieving the client’s business goals.
Today, based on the great success of early adopters, as well as changes in the broader marketing and technology environment, ABM is suddenly being hyped as the next great revolution in B2B marketing. Vendors and pundits are making great claims about ABM transforming all of marketing.
The opportunities to apply ABM principles far beyond your key accounts have certainly grown in recent years. But one of the consequences of all the hype is growing confusion about what ABM actually is and isn’t. Absent clear definitions, it’s all too easy for different stakeholders to diminish the potential power of ABM or equate it with “just good marketing. ”Account-based marketing treats individual accounts as markets in their own right.
B2B marketing, especially for high-value, high-consideration services and solutions, typically involves connecting with multiple stakeholders, influencers, and decision makers within client accounts. It’s rarely so simple as selling to a single individual. As such, effective marketing and selling almost always requires understanding and responding to multiple viewpoints, concerns, approaches, and incentives within each account. Viewing individual accounts as entities similar to complex, multi-dimensional markets is therefore an essential approach for marketers aiming to connect effectively with clients and prospects.
According to ITSMA, there are three ABM approaches that companies and B2B marketers are following:
- ABM Lite
One-to-one ABM is a strategic approach that treats your most valuable target accounts as their own individual markets. This means engaging with each of them in a specific and customized way.
A typical one-to-one campaign would involve targeting 5-10 key target accounts, the ones whose business would make your year or even change the direction of your company.
- Programmatic ABM
One-to-few ABM, or ABM Lite as it’s also known, is a way of using the one-to-one ABM principles and applying them at scale to a greater number of target accounts.
For example, you might be dedicating 40 days per month to your top 5 accounts in a one-to-one strategy.
If you then wanted to reach out to your top 30 accounts, you most likely wouldn’t be able to scale up the same approach unless you have 240 days worth of resources available to do this. So what’s the answer?
Your best strategy would be to focus on small groups of target accounts, rather than individual accounts. These groups can then be treated as their own individual markets, in the same way as individual accounts were with one-to-one ABM.
- Strategic ABM
The average number of accounts for a one-to many campaign according to the ITSMA sits at around 100. However you may choose to go for more than this and dedicate fewer resources to each, or use an approach closer to the one-to-few model, and dedicate more resources to engaging with each account.
To read more about ABM Types click hereà https://www.zelitesolutions.com/types-of-account-based-marketing/
If you want to find out which type of ABM is most suitable to your organization or if you need any account-based marketing services then contact Zelite Solutions which is one of best ABM Services provider. We help you to build your target account list.
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