ABM stands for "account based marketing" and is defined as a growth strategy in which marketing and sales work together to create personalised shopping experiences. ABM marketing is therefore a concept closely related to inbound marketing as it focuses on people to drive all of our commercial action.
What ABM marketing allows us to do is to make a leap in our marketing and sales strategy, i.e. ABM is nothing more than account-based marketing that aims to help our business go much further, because if we focus our action strategy on the customers who report the highest number of sales in a personalised way, creating a communication channel and specific messages for them, our strategy will have good results and will maintain customer loyalty to our brand.
However, it is sometimes difficult to know where our brand stands and, therefore, to know if it is time to apply the ABM strategy to our marketing and sales department. Therefore, it is important to know that account-based marketing is recommended both for companies that do not have customers with too much potential and for companies that have high-value customers.
- Companies that have low-potential customers: These companies are those that have realised that their traditional marketing strategies are not working (Google campaigns, mass advertising, etc.), which is why the use of ABM is recommended for these brands to find out who are the customers they need to impact and devise appropriate strategies to establish relationships and communication with them.
- Companies that have very high-value customers: Just as the ABM technique is applicable to companies that need to know how to identify who their ideal customers are, it is also applicable to companies that have them but are not focusing their commercial strategy on them. It is advisable to do so because having high-value customers makes it easy to retain them in our brand and create quality content and loyalty strategies for them.
what are the benefits of an ABM marketing strategy?
- improved ROI- An ABM strategy offers one of the highest returns on investment of any B2B marketing strategy or tactic.
- it is efficient and reduces waste. With an ABM strategy we target customers who have real meaning to the business, so instead of having a low conversion rate from new names to leads as we would with traditional marketing strategies, we start with a group of people who are already more likely to convert.
- personal and optimised treatment - ABM also involves personalising messages, so that brand values are also conveyed. Targeted customers are more likely to interact with content that is specifically for them and relevant to their business.
- great target tracking and clear measurement. When we analyse the effectiveness of campaigns, whether through emails, ads, web or events, it is easier to draw clear conclusions, as we look at a smaller set of potential customers rather than a broad set of metrics.
- boosts sales and brings about marketing alignment. ABM is perhaps one of the most efficient ways to align sales and marketing. This is due to the fact that the marketer performing an ABM strategy operates with a very similar mindset to sales ideas in terms of accounts and how to target customers.
- aBM is not only about acquiring new target customers, but also about retaining and growing them.
how to implement ABM marketing in my company?
To develop a good ABM marketing campaign in our company we must follow a series of steps that will facilitate the task:
- Choose the accounts we want to target: When we are going to start developing our account-based marketing campaign, it is normal that we do not know which clients we want to target, so it is essential to carry out a selection process before starting to develop the strategy.
- Create a decision tree: Once we have chosen the customers we want to target and we have personalised our information, it is time to create our tree. This means nothing more than segmenting the information of our campaign and distributing it so that it reaches the customer in a staggered manner and they do not receive all of our advertising information at once, which they will not know how to manage.
- Designing the contact strategy: Depending on the type of client we want to target, some forms of contact will be more effective than others. Creativity comes into play in this phase, as our campaign does not necessarily have to reach them only through emails, but we can create work groups on Linkedin, go to job fairs in the sector we want to target and make ourselves known from there..
- Getting our first recruitment: Once we have achieved the first recruitment of customers, we create their buyer persona profile in which we will collect their data, their preferences..
- Start the educational process: This is the last phase of our account-based marketing campaign. At this point, we have already collected enough information from our buyer persona, so it is time to send our personalised content in a segmented way so that the customer can process it.
Remember that each of these steps is fundamental to carry out your ABM marketing in the company. Don't wait any longer!